Adam McCann, Financial Writer
@adam_mccann
Capital One does not offer debt consolidation loans because Capital One no longer has personal loans as one of their products. The closest thing would be a Capital One credit card with good balance transfer terms or you can consider debt consolidation loans from other lenders.
Most companies that offer debt consolidation loans do so in the form of personal loans that can be used for nearly any type of expenses. But Capital One doesn’t have loans specifically for debt consolidation. Nor do they have general-purpose personal loans.
Another common way to consolidate debt is by taking out a home equity loan or home equity line of credit (HELOC). Both of these options allow you to borrow against the equity in your home (home value minus mortgage balance). And both use your house as collateral. Unfortunately, Capital One no longer offers home equity financing, though they did in the past.
So, the best way to consolidate debt with Capital One is to get a Capital One balance transfer credit card. But keep in mind that balance transfer credit cards are only a short-term consolidation solution. If you won’t be able to pay in full before any introductory APR ends, or can’t get a high enough credit limit, you may want to consider a personal loan with low interest rates from a different issuer.
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