If You Have $2K+ in Credit Card Debt, This One Move Could Save You Hundreds in Interest
By Laura Bogart
Credit card debt crept up on you. Life just happened, and you opened a card here, a card there. You started spending a little more than you brought in each month, then relying on minimum payments to keep your cash flow steady. Now you’re staring at $2,000 — maybe much more — in credit card debt. You’re scared. Frustrated. The interest payments alone feel crushing. What can you do to get ahead of it all?
One move could potentially save you hundreds of dollars in interest: consolidating your credit card debt with a fixed-rate personal loan* from Rocket Loans®.
A fixed-rate personal loan lets you consolidate multiple high-interest credit card balances into one monthly payment. That could save you big on interest over time, plus you’ll have fewer bills to manage and a clearer payoff timeline.
How Debt Consolidation Can Help
Balancing payments for multiple credit cards at once can feel like spinning plates. Drop one, and they could all come crashing down. Miss one payment and you risk missing others — and the debt spiral deepens.
Why not make it easier on yourself? With a debt consolidation loan, you can replace multiple high-interest balances with one monthly payment that’s easier to manage. You also gain a clear, predictable payoff timeline — something credit cards typically don’t offer if you’re only making minimum payments.
Meanwhile, a lower interest rate can translate to significant savings over the life of the loan — potentially hundreds of dollars, depending on your balance and rate.
How It Works
Do you have a FICO® Score of at least 640? You could qualify for a Rocket Loans personal loan ranging from $2,000 to $45,000. Interest rates start as low as 8.01%, with repayment terms from 36 to 60 months.
Worried that checking your rate will hurt your credit score? It won’t. Checking your rate is free and doesn’t affect your credit. You can review your options before committing, giving you a chance to compare your potential savings against what you’re currently paying in credit card interest.
While personal loans are often used to consolidate debt, that’s not their only purpose. They can also cover home improvements, emergency repairs, medical bills, wedding expenses, travel — or even to purchase a used car.
Why Rocket Loans Could Be the Right Fit
Not all debt consolidation loans are created equally. Rocket Loans can help you reduce interest payments and climb out of debt on a fixed schedule — without added stress.
The loan is straightforward: There are no hidden fees or early payoff penalties. Enroll in autopay and you’ll receive a discounted 0.25% APR, which could save you hundreds of dollars in interest. In many cases, funds can be deposited as soon as the same day. Easy, right?
If you have questions, Rocket Loans offers live customer support six days a week. When you need help, you can speak with a real person ready to assist — a novel concept these days.
That commitment to hands-on service has earned Rocket Loans a 4.9-star rating on Trustpilot, along with an A+ rating from the Better Business Bureau.
The Bottom Line
Significant credit card debt can feel overwhelming. Getting out of it doesn’t have to be — if you find the right personal loan.
If you’re eligible for a Rocket Loans personal loan, you could save hundreds of dollars in interest with a discounted APR and a fixed repayment schedule. There are no hidden fees or early payoff penalties — just straightforward terms and personalized customer service.
Ready to start making real progress toward paying off your credit card debt? It’s free to check your rate and see what you qualify for — with no impact to your credit score.
*Qualified clients using Rocket Loans will see loan options for a 36 or 60 month term, and APR ranges from a minimum of 8.01% (rate with autopay discount) to a maximum of 29.99% (rate without autopay discount) depending upon their credit profile. An origination fee of up to 9.99% is charged for each loan. This fee is deducted from the balance before funds are disbursed to the client. For example, a 5-year $16,000 loan with a 14.55% interest rate and a 6.95% ($1,112) origination fee would have 59 scheduled monthly payments of approximately $376.83 and 1 final monthly payment of approximately $399.09 for an APR of 17.90%. Borrower must be a U.S. citizen or permanent U.S. resident at least 18 years of age. All loan applications are subject to credit review and approval and offered loan terms depend upon credit score, requested amount, requested loan term, credit usage, credit history and other factors. Not all borrowers receive the lowest interest rate or highest loan amount. To qualify for the lowest rate, you must have excellent credit, meet certain conditions, and select autopay. To qualify for loan amounts from $45,001 to $75,000, you must be a returning Rocket Loans client in good standing or have an existing mortgage relationship in good standing with one of Rocket Loans’ sister companies, Rocket Mortgage or Mr. Cooper (Mr. Cooper owned mortgages only). Rates and Terms are subject to change at any time without notice.
All personal loans are made by Cross River Bank, a New Jersey state chartered commercial bank, Member FDIC, Equal Housing Lender. This is not a deposit product.
Same Day Funding available for clients completing the loan process and signing the Promissory Note by 4:00PM ET on a business day. Also note, the ACH credit will be submitted to your bank the same business day. This may result in same day funding, but results may vary and your bank may have rules that limit our ability to credit your account. We are not responsible for delays which may occur due to incorrect routing number, account number, or errors of your financial institution.
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