Majority of debt consolidators told us they saved an average of $302 per month by consolidating debt with a Discover personal loan.
Save money on interest
Lock in a fixed rate
Simplify your bills
Estimate savings with a debt consolidation loan
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Based on your selection of credit, we are unable to provide you with a savings calculation.
A minimum score of 660 is required to qualify for a Discover personal loan. You can read more about the importance of your credit history on our Resource Center.
Based on the information entered, consolidating debt with Discover Personal Loans may not save money or time
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<p>Based on your current situation, you could keep your monthly payment of <sup>$</sup></p> $ and:
Your APR will be between 6.99% and 24.99% APR based up on creditworthiness at time of application.
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Common questions about using a personal loan to help pay off debt
When you take out a personal loan to consolidate debt, you use the funds from your loan to pay off up to $35,000 in debt. Then you have just one monthly payment instead of juggling multiple bills with different due dates.
Loans for debt consolidation usually have lower interest rates than other high-rate loans or revolving debt like credit cards, department store cards, and gas cards. This helps you save money on future interest payments while you pay down your debt.
Getting a loan to consolidate debt can be a smart way to pay off your credit card balances, higher interest loans, and other bills. Because your goal is to eliminate debt, a debt consolidation loan can help in the long term. In the short term, the debt consolidation loan may affect your credit because you're opening a new account and taking out a new line of credit.
Wondering if a debt consolidation loan is right for you? You can see what your actual rate will be before you apply. Just check your rate. It's quick and easy. And it won't affect your credit.
Learn more about personal loans to consolidate debt
Check out our Resource Center to find information and tools to help with debt consolidation.
Discover debt consolidation loan reviews
Finally all my bills are consolidated!
Only Discover could give me the amount I needed to pay off my credit cards and at one lower monthly payment! They even sent the money to each of my card companies.
Easy way to simplify your life
Great way to simplify your life and make one payment instead of several smaller payments.
I needed to consolidate credit card debt and Discover Personal Loans was willing to work with me.