Debt consolidation involves taking out one loan or line of credit (ideally with a lower interest rate) and using it to pay off other debts — whether that’s credit card debt, personal loans, or other high-interest debt. After consolidating those existing debts into one loan, you have just one monthly payment and one interest rate.

Three types of debt are commonly consolidated: credit card debt, medical debt, and high-interest personal loan debt. You may reduce the overall cost of repayment by securing better terms and interest. You'll also have a single payment to keep track of instead of several.

When you see a pre-approved offer, one of our lending partners has determined that you meet certain approval criteria. Our matching technology identifies loans that you are the best fit for. Pre-approved offers are conditional commitments for an exact rate from a lender, and let you know if you qualify for that loan. The rates are subject to change but are very rarely different than the rate you’ll see. This enables Reserve to match you with the loan offers that best meet your needs.

Our industry-leading platform was built to serve everyone regardless of credit score. Take a look at the funding stats on our homepage to learn more about our successful funding history for all credit bands.