Personal Loan – Credit Card Consolidation
DITCH THE PLASTIC. BECOME DEBT-FREE, FASTER
Have credit card balances? You’re not alone—there are over a million people in the U.S. with great credit scores and recurring credit card debt. But what if you could trade in your sky-high credit card rates for one monthly payment, in one place, at one low rate? Apply for a SoFi fixed rate personal loan and start saving as you take a responsible path to paying down your debt.
Why SoFi?
Better
Credit
On average, members increased their FICO(R) scores by 22 points after consolidating $10,000+ in credit card debt6a.
No Fees.
No Catch.
No origination fees or pre-payment penalties. What you see is what you get.
Community
Benefits
If you lose your job, we’ll temporarily pause your payments and help you find a new job4.
Easy
Experience
Simple online application and access to live customer support 7 days a week.
Personal Loan Comparison6
Here’s how SoFi Personal Loans compare
| SoFi | Credit Cards | 401(k) Loan | Home Equity Loan | |
|---|---|---|---|---|
| APR range |
Fixed Rates 8.74% – 35.49%
(with AutoPay)5 |
12.00 – 22.86%6 | Varies | Varies |
| Fees | No Fees | 3% Balance Transfer | Origination | Application |
| Term | 2, 3, 5, 7 years | Rolling | 5 years, or 60 days if you lose your job | 5 – 30 years |
| Instant Pre-Approval | Yes | Yes | N/A | No |
| Amount | $5,000 – $100,000 | Varies | Up to 50% of vested 401(k) balance or $50,000 | Up to 80% of home equity |
| Unemployment Protection4 | Yes | No | No | No |
How do we offer such low rates?
We’re efficient because we’re digital and innovative. Doing business online allows us to keep expenses down. We then pass these savings onto our members. And, we look beyond just credit scores and debt-to-income ratios to consider factors like estimated cashflow, career, and education. So while other lenders charge higher rates to account for the possibility that borrowers won’t pay back their loans, our unique underwriting process helps ensure our members have a high likelihood of making their payments.
3 Savvy Money Rules that Wealth-Minded People Follow
Last month you may have seen the proposal to end federal tax benefits for 529 college savings plans, which sparked intense backlash and was withdrawn quickly. Even if you haven’t been following that news, or aren’t yet saving for your children’s education, 529 plans are an interesting example of how the wealth-minded manage their finances.
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Rich Dad
Get $200 when your loan is disbursed by applying through this page.‡
Are you paying more than 11% interest on your credit cards? A SoFi Personal Loan could help you save thousands. With a low fixed rate and monthly payment, you can pay off high interest debt, like credit cards, or make a major purchase. It only takes minutes to apply.
Questions? Call us for a free consultation at 855-456-7634
Who is MOHELA?
MOHELA is SoFi’s third-party loan servicer for student loans. Once your loan is funded, servicing will be provided by our partner MOHELA, who will contact you to set up an account and collect your monthly payments. While your loan will be serviced by MOHELA after it has been funded, you will still be a SoFi member and be able to take advantage of our unique member benefits.
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