Grace Enfield, Content Writer
@grace_enfield
Yes, you can get a debt consolidation loan with a 650 credit score. You’ll also need to meet the other requirements to get a debt consolidation loan, like being at least 18 years old, having enough income to afford the loan and having a bank account.
The best debt consolidation loans for a 650 credit score are from Upstart because the company does not have a credit score requirement, loan amounts of $1,000 - $75,000 and APRs typically of 6.6% - 35.99%. The company also has repayment periods of 36 months or 60 months. Upstart isn’t your only option, though. You can see a comparison of the best debt consolidation loans for a 650 credit score below.
Best Debt Consolidation Loans for a 650 Credit Score
| Company | Credit Score Requirement | Loan Amounts | APRs |
| None | $1,000 - $75,000 | 6.6% - 35.99%, typically | |
| 620 | $1,000 - $36,500 | 7.99% - 35.99% | |
| 640 | $2,000 - $50,000 | 6.99% - 35.99% | |
| 620 | $1,000 - $50,000 | 7.74% - 35.99% | |
| 600 - 640 | $1,000 - $50,000 | 7.04% - 35.99% |
To read more about the top-ranked offers, check out WalletHub’s picks for the best debt consolidation loans. You can also estimate your potential rates with the free pre-qualification tool on WalletHub.
Upstart Disclosure: Your loan amount will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will qualify for the full amount. Minimum loan amounts vary by state: GA ($3,100), HI ($2,100), MA ($7,000).
The full range of available rates varies by state. A representative example of payment terms for an unsecured Personal Loan is as follows: a borrower receives a loan of $10,000 for a term of 60 months, with an interest rate of 19.60% and a 6.90% origination fee of $690, for an APR of 23.22%. In this example, the borrower will receive $9310 and will make 60 monthly payments of $264. APR is calculated based on 5-year rates offered in March 2025. There is no downpayment and no prepayment penalty. Your APR will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will be approved.
People also ask
What credit score is needed for debt consolidation?
You need a credit score of 660 or higher to consolidate your debt with a personal loan that has no origination fee and a low APR. In general, the higher your credit score is, the lower your interest rate will be on a debt consolidation loan or a balance transfer credit card.
Many lenders disclose a credit score requirement for debt consolidation loans. For your convenience, below is a list of credit score requirements from major lenders. You can...
read full answer by Grace Enfield, Content WriterWhy can't I get a debt consolidation loan?
Possible reasons you can’t get a debt consolidation loan include not making enough money to keep up with the payments or failing to meet the lender’s credit score requirement. You could also be denied if you don’t satisfy basic requirements such as being at least 18 years old and having a bank account. Any lender that turns you down for a consolidation loan should disclose the reason why your application was rejected, so you shouldn’t...
read full answer by Grace Enfield, Content WriterShould I get a debt consolidation loan?
You should get a debt consolidation loan if you have hard-to-manage debts owed to multiple creditors and if you can get a lower APR on the new loan. Other situations where you should get debt consolidation loans include when the fees aren't excessive and when other options, like a balance transfer credit card, aren't better. In general, a debt consolidation loan should save you money and help you get out of debt faster.
When...
read full answer by Grace Enfield, Content WriterDid we answer your question?
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