This is a calculation done by Financer and does not reflect the real cost from Lending For Bad Credit. An individual credit assessment will be performed by the company.Calculating
This is a calculation done by Financer and does not reflect the real cost from PersonalLoans.com. An individual credit assessment will be performed by the company.Calculating
This is a calculation done by Financer and does not reflect the real cost from Fast5KLoans. An individual credit assessment will be performed by the company.Calculating
This is a calculation done by Financer and does not reflect the real cost from Your Premier Lending. An individual credit assessment will be performed by the company.Calculating
This is a calculation done by Financer and does not reflect the real cost from Low Credit Finance. An individual credit assessment will be performed by the company.Calculating
This is a calculation done by Financer and does not reflect the real cost from ACE Cash Express. An individual credit assessment will be performed by the company.Calculating
This is a calculation done by Financer and does not reflect the real cost from BadCreditLoans.com. An individual credit assessment will be performed by the company.Calculating
This is a calculation done by Financer and does not reflect the real cost from Honest Loans. An individual credit assessment will be performed by the company.Calculating
This is a calculation done by Financer and does not reflect the real cost from Consumers Credit Union. An individual credit assessment will be performed by the company.Calculating
This is a calculation done by Financer and does not reflect the real cost from GetCash.com. An individual credit assessment will be performed by the company.Calculating
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Filters
Loan amount
Loan purpose
Product Statistics
A complete breakdown of all data points across the products in this comparison to help you make the right decision.
Loan amount
$0 - $50,000 ($7,663.66)
Loan period
1 week - 183 months (27 months)
Annual interest rate
0% - 1,564% (159.82%)
Minimum age
18 - 18 (18)
Minimum income
$0 - $2,000 ($345.95)
National bank account
31 (83.8%)
National phone number
31 (83.8%)
Citizenship
24 (64.9%)
Electronic identification
29 (78.4%)
Accepts Bad Credit History
34 (91.9%)
Payout within 24 hours
31 (83.8%)
Weekend Payout
5 (13.5%)
Loan extensions
18 (48.6%)
Early payback
31 (83.8%)
Loan broker
13 (35.1%)
Interest-free first loan
0 (0%)
Cosigner possible
2 (5.4%)
Approval rate
80% - 90% (83.75%)
Revocation period
15 (40.5%)
High approval rate
0 (0%)
Statistics based on 37 Loans products in our database.
CompanyLowestHighest
Lending For Bad Credit5.99%35.99%
PersonalLoans.com5.99%35.99%
Fast5KLoans5.99%35.99%
Your Premier Lending5.99%35.99%
Low Credit Finance5.99%35.99%
ACE Cash Express91.52%630.13%
BadCreditLoans.com5.99%35.99%
Honest Loans5.99%35.99%
Consumers Credit Union8.99%24.79%
GetCash.com5.99%35.99%
MoneyKey249%295%
Jora Credit75%349%
5KFunds5.99%35.99%
Credit Clock5.99%35.99%
Explore Credit5.99%35.99%
Self Lender15.69%15.92%
CashNetUSA229%579%
Cash Store390%780%
Cash Advance15%1,564%
CreditFresh143%600%
Advance America143.29%688.28%
MoneyLion5.99%29.99%
MaxLend471.78%841.45%
Viva Payday Loans5.99%35.99%
CashUSA5.99%35.99%
LoansUnder365.99%35.99%
SecureSpeedyLoans5.99%35.99%
Loan in Personal5.99%35.99%
Wizzay.com5.9%35.99%
Speedy Cash199.99%729%
Spotloan99%490%
Fast Loan Advance5.99%35.99%
EarnIn0%0%
BMG Money19.99%35.99%
OppLoans99%195%
Plain Green Loans210%438%
Interest Rates
See how rates compare across all providers. The bars show the range between lowest and highest rates offered by each company.
Historical How to reduce debt Interest Rates
Average rates tracked monthly across 46 providers
Average rates tracked monthly across 46 providers
Average
Lowest
Highest
Aug 2025
152.51%
1.26%
1,646.58%
Sep 2025
154.93%
1.33%
1,667.75%
Oct 2025
156.62%
1.38%
1,682.54%
Nov 2025
157.02%
1.39%
1,685.99%
Dec 2025
155.84%
1.36%
1,675.65%
Jan 2026
153.15%
1.28%
1,652.17%
Feb 2026
149.37%
1.18%
1,619.09%
Mar 2026
145.14%
1.06%
1,582.11%
Apr 2026
141.21%
0.95%
1,547.77%
May 2026
138.27%
0.87%
1,522.06%
Jun 2026
136.78%
0.82%
1,509.02%
Jul 2026
136.88%
0.83%
1,509.89%
Aug 2026
143.07%
1%
1,564%
Current Average143.07%↑ 6.19pp
Lowest Available1%
Highest Available1,564%
Providers Tracked46
Financer's Choice
Top Rated
PersonalLoans.com
APR ranges 5.99%-35.89% with potential origination fees from lenders. As a marketplace, rates vary widely by credit score and chosen lender - competitive for bad credit borrowers.
Phone and email support Monday-Friday, 6am-7pm PST. Quick response times (few hours) but limited availability and marketplace model restricts loan-specific help.
Loan amounts from $250 to $35,000 with repayment terms from 61 days to 96 months. Transparent about marketplace model and lender requirements. Straightforward documentation process.
Users appreciate loan matching for bad credit access. Major complaints include aggressive post-application marketing and multiple credit inquiries from referral model.
Get exclusive conditions from the best financial companies
Americans now owe a record $1.28 trillion in credit card debt, with average APRs hovering around 23%. On a typical $6,500 balance, making only minimum payments costs roughly $1,500 in annual interest.
Below are five strategies - with real numbers - to help you cut that cost and get out of debt faster.
Consolidate High-Interest Debt With a Personal Loan
Debt consolidation rolls multiple debts into one loan at a lower rate. Swapping a $10,000 credit card balance from 23% APR to a 10% personal loan saves roughly $1,300 in interest over 3 years.
When it makes sense:
You have multiple debts at 20%+ APR.
Your credit score is 580+ to qualify for competitive rates.
The new loan rate is meaningfully lower than what you currently pay.
Our partner 5KFunds lets you compare multiple lenders with one application - no fees, no minimum credit score. You can also compare personal loan rates here.
Use the Avalanche or Snowball Method
Two proven DIY methods - no new credit required:
Avalanche method - Target your highest-interest debt first, make minimums on everything else. Saves the most money over time.
Snowball method - Target your smallest balance first. The quick win of eliminating a whole debt builds momentum.
Pick whichever you will actually stick with. For lump sums like tax refunds or bonuses, always throw them at your highest-rate debt regardless of method.
Avalanche Method
Snowball Method
Priority
Highest interest rate first
Smallest balance first
Best for
Saving the most money on interest
Staying motivated with quick wins
Downside
Can take longer to see first debt eliminated
May pay more total interest over time
Ideal when
Your largest debt has the highest rate
You have several small balances under $1,000
Look Into Debt Relief Programs
Debt settlement programs negotiate with creditors to reduce your balance - sometimes to 40-60% of what you originally owed. CuraDebt handles credit card, medical, and tax debt, with most clients finishing within 24-48 months.
Best for:
Unsecured debts over $10,000 you cannot keep up with.
When bankruptcy is the only alternative.
Not ideal if:
You can still make minimum payments.
Your debts are secured (mortgage, auto loan).
Protecting your credit score is a priority right now.
Note: Settlement typically damages your credit score and forgiven debt above $600 may count as taxable income.
Transfer Balances to a 0% APR Card
A 0% intro APR card pauses interest for 12-21 months - every dollar you pay reduces your balance directly.
Example: $5,000 at 23% APR → transfer to 0% card → pay $278/month → debt-free in 18 months at $0 interest. On the original card at the same payment, that costs ~$900 in interest.
To make it work:
Divide your balance by the number of 0% months to set your monthly target.
Do not use the card for new purchases - those may not get the 0% rate.
Set a reminder 2 months before the intro period ends, as rates jump to 18-26% APR after.
Best for: credit card debt under $10,000 with a credit score of 670+.
Build a Debt-Crushing Budget
No payoff strategy works without cash freed up to apply to your debts. The 50/30/20 rule is a simple starting point:
50% of after-tax income - needs (housing, food, minimum debt payments).
Credit score 670+, debt under $10,000 - Start with a 0% balance transfer card, then use the avalanche method for any remaining balance.
Credit score 580-670, multiple debts - A consolidation loan through 5KFunds can still beat your credit card rates.
$10,000+ in unsecured debt, struggling with payments - Explore debt relief as an alternative to bankruptcy.
Want a free starting point - Build a budget and use the snowball or avalanche method. No cost, works for any debt level.
Most people benefit from combining two or more strategies. For a complete step-by-step plan, see our guide on how to get out of debt.
Frequently Asked Questions
What is the fastest way to reduce debt?
The fastest approach combines a balance transfer card (0% APR for 12-21 months) with the avalanche method, which targets your highest-interest debt first. This eliminates the most expensive debt while paying zero interest on transferred balances. For large debts above $10,000, a consolidation loan at a lower rate can also speed up payoff significantly.
How can I pay off debt with no money?
Start by listing every expense and cutting non-essentials to free up even $50-100 per month for extra debt payments. Use the snowball method to eliminate your smallest debt first, then redirect that payment to the next one. Look into government programs like the CFPB's debt relief resources, and consider free nonprofit credit counseling through the NFCC.
Is debt consolidation a good idea?
Debt consolidation makes sense when the new loan's interest rate is lower than what you currently pay on your debts. The average personal loan rate is about 11.65% (Federal Reserve G.19), compared to around 23% on credit cards. If consolidating saves you money on interest and simplifies your payments, it is a smart move. It is not worth it if the new rate is similar to or higher than your current rates.
Does debt settlement hurt your credit score?
Yes. Debt settlement programs typically require you to stop making payments while the company negotiates with creditors, which results in late payment marks on your credit report. Settled accounts also appear as "settled for less than owed" rather than "paid in full." Your score may drop 100+ points during the process, though it can recover over time. Consider settlement only when the alternative is bankruptcy.
How long does it take to become debt-free?
It depends on your total debt, interest rates, and how much extra you can pay each month. Someone with $10,000 in credit card debt paying $450 per month toward it (beyond minimums) could be debt-free in about 25 months. Debt relief programs typically take 24-48 months. The key factor is consistency. Even small extra payments of $100 per month can cut years off your payoff timeline.
