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Saturday, February 24, 2024

10 Best Credit Card Debt Solutions for 2023

10 Best Credit Card Debt Solutions For 2023
Mike Senecal

Written by: Mike Senecal

Mike Senecal
Mike Senecal

Mike Senecal draws on more than 20 years of editorial experience to update CardRates.com readers on industry trends, business news, and best practices in budgeting and credit use. Mike has worked for decades in academic and trade publishing, including roles as managing editor and technical editor at the University of Florida and as contributor to finance industry publications, including Surety Bond Quarterly and Independent Agent, among others. Mike holds bachelor’s and master’s degrees from the University of South Carolina, and he enjoys bringing his years of academic and industry expertise online to help consumers of diverse financial backgrounds.

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Edited by: Lillian Guevara-Castro

Lillian Guevara-Castro
Lillian Guevara-Castro

Lillian Guevara-Castro brings more than 30 years of editing and journalism experience to the CardRates team. She has written and edited for major news organizations, including The Atlanta Journal-Constitution and the New York Times, and she previously served as an adjunct journalism instructor at the University of Florida. Today, Lillian edits all CardRates content for clarity, accuracy, and reader engagement.

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Our experts and industry insiders blog the latest news, studies and current events from inside the credit card industry. Our articles follow strict editorial guidelines.

Editor's Best Credit Card Debt Solutions

Credit cards are a fantastic tool for building flexibility in your spending habits. Managing reasonable credit card debt can even be a healthy part of an overall financial strategy.

But excessive credit card debt can be a burden that holds you back, threatens your goals, and leads to a financial crisis if an expected setback ruins your plans.

That’s why we’ve compiled this list of the 10 best credit card debt solutions. If you struggle with so much credit card debt that you cannot take positive steps forward, one or more of these solutions can help. Good luck on your journey to financial wellness.

GreenPath

#1 Solution for Debt Counseling

GreenPath logo

GreenPath is a nonprofit that has helped consumers navigate the complexities of money management since 1961. It partners with banks and credit unions to provide financial and homebuyer counseling services and other people-centered resources.

Debt counseling through GreenPath is nonjudgmental and results-oriented. Certified debt and credit counselors can connect clients with the right tools and advice.

Why We Love GreenPath

GreenPath touches financial consumers in many ways through many institutions. It even has an app, MyGreenPath, to empower clients to lead financially healthy lives.

GreenPath truly has all the bases covered when it comes to helping people improve their finances.

Key Stats

  • Founded: 1961
  • Android app rating: 4.1
  • iOS app rating: 4.7
  • Monthly site visits: 57K

Happy Money

#1 Solution for Payoff Loans

HappyMoney logo

There’s nothing pleasant about being in over your head with debt. But Happy Money strives to turn a negative into a positive by partnering with credit unions and community-focused lending partners to offer lower-interest loans perfect for paying off credit cards.

Happy Money can be a ticket to betterment when you need a fresh start with a simpler payoff plan.

Why We Love Happy Money

The website and app are simple to use, and loans are reasonably priced. There’s never a credit check required to apply.

Live member advocates are available to help customers succeed. We appreciate that personal approach to financial wellness.

Key Stats

  • Founded: 2009
  • Android app rating: 3.2
  • iOS app rating: 2.8
  • Monthly site visits: 96K

Upstart

#1 Solution for AI Lending

Upstart logo

In this day and age, your financial history follows you everywhere, which is both a good and bad thing. It’s a good thing at Upstart because this financial technology company uses artificial intelligence to connect consumers to more than 100 banks and credit unions to deliver superior credit products.

You know you’re getting something good when instigating a credit card consolidation loan through Upstart.

Why We Love Upstart

Upstart’s smarter credit model leads it to approve more consumers for consolidation loans. That means a better chance to come out ahead after a credit setback.

We appreciate what Upstart does with technology to make credit more affordable and available.

Key Stats

  • Founded: 2012
  • Android app rating: n/a
  • iOS app rating: 5.0
  • Monthly site visits: 2.6M

Prosper

#1 Solution for Peer-to-Peer Lending

Prosper logo

Prosper offers personal and home equity loans for debt consolidation, home improvement, and healthcare financing. The difference is that it’s a peer-to-peer institution, meaning borrowers obtain funds from other individuals on the platform.

That makes the loans subject to broader competition and stipulates various socially motivated forms of lending.

Why We Love Prosper

As a peer-to-peer lending platform, Prosper can offer loans with lower interest rates than those offered by banks and open debt consolidation opportunities to consumers with comparatively low credit ratings.

We love that Prosper harnesses the power of consumers working together to create better financial solutions.

Key Stats

  • Founded: 2005
  • Android app rating: 4.8
  • iOS app rating: 4.8
  • Monthly site visits: 920K

Honeydue

#1 Solution for Couples

Honeydue logo

Couples have enough challenges without letting credit card debt come between them. Honeydue is purpose-built to facilitate couples working together to achieve shared money goals.

Most financial institutions make money collaboration unwieldy through an app. Honeydue tracks accounts from more than 20,000 financial institutions, coordinates bill reminders, and includes a chat function to help you and your loved one stay on the same page.

Why We Love Honeydue

Honeydue works even if you and your significant other maintain separate checking and savings accounts.

It intuitively ties all relevant financial accounts together and subjects funds to seamless budgeting and management. That’s a recipe for relationship success.

Key Stats

  • Founded: 2016
  • Android app rating: 3.3
  • iOS app rating: 4.5
  • Monthly site visits: 7K

Avant

#1 Solution for Speedy Loan Decisions

Avant logo

Avant is a full-service financial institution with various products and services relevant to consumers struggling with credit card debt.

Debt consolidation, emergency, home improvement, and installment loans meet customers where they are on their financial journey, with the common point that all Avant loans take advantage of its streamlined borrowing process.

Why We Love Avant

Time can be of the essence when a debt crisis looms. Avant applies sophisticated technology and years of underwriting experience to deliver funds as soon as the next business day.

Live experts are standing by at Avant to answer any questions you may have, so give them a try.

Key Stats

  • Founded: 2012
  • Android app rating: 4.3
  • iOS app rating: 4.8
  • Monthly site visits: 1.9M

Undebt.it

#1 Solution for Debt Management

Undebt.it logo

Undebt.it is one of those sites that claims a very loyal user base because it offers exactly what they need and nothing they don’t.

Many management tools on the site incorporate the debt snowball method, which recommends paying off the smallest debt first and working up the line.

Why We Love Undebt.it

The debt snowball method is a tried-and-true strategy for dealing with debt arising from multiple accounts.

Undebt.it makes understanding, managing, and ultimately eliminating debt easier. The site contains free calculators and tools to help.

Key Stats

  • Founded: 2012
  • Android app rating: n/a
  • iOS app rating: n/a
  • Monthly site visits: 5K

Achieve

#1 Solution for Flexible Solutions

Achieve logo

People from all walks of life get into debt trouble for many reasons. Achieve specializes in learning what motivates each consumer who visits its site and tailoring an appropriate response.

Whether you’re looking for options, struggling with debt, or don’t know what to do, Achieve offers hope for a better future and tools to help you get there.

Why We Love Achieve

Debt consolidation services allow users to customize Achieve’s proposed plan to fit with other financial priorities.

We appreciate that Achieve also offers free debt assessments and a debt resolution program to pay down debt faster.

Key Stats

  • Founded: 2002
  • Android app rating: 4.0
  • iOS app rating: 3.7
  • Monthly site visits: 300K

Bright

#1 Solution for Credit Building

Bright logo

Once you plug into the Bright app, you can use the benefits of secured lending and on-time payments to build a higher credit score — no matter where you’re starting from.

Bright also offers lower-interest personal loans for debt consolidation by leveraging your financial history for smarter loan underwriting.

Why We Love Bright

We love that Bright also includes powerful financial planning functionality in its easy-to-use app. With Bright Plan, you make the right payments at the right time to pay down debt faster.

It’s a no-brainer to use Bright to light the way to less debt and a healthier overall financial situation.

Key Stats

  • Founded: 2019
  • Android app rating: 4.6
  • iOS app rating: 4.8
  • Monthly site visits: 83K

Upgrade

#1 Solution for Credit Card Refinancing

Upgrade logo

Upgrade offers a full suite of financial products and services that work with the financial status you have to help you build the status you want.

That includes personal loans of up to $50,000 to refinance credit cards and lower monthly obligations while paying less overall.

Why We Love Upgrade

Upgrade makes things simple without pulling the wool over your eyes. Transparency is in its DNA as it works to find the best financial solutions for your situation.

We love that when so many financial products seem overly complicated, Upgrade strives to help customers reach their goals with minimal fuss.

Key Stats

  • Founded: 2016
  • Android app rating: 4.6
  • iOS app rating: 4.8
  • Monthly site visits: 2.9M

We’ve presented varied tools in our list of the 10 best credit card debt solutions. But they all have the same purpose: helping you learn to use credit cards productively instead of letting them drag you down.

No matter where you are in your journey to financial well-being, there’s something here to help. So visit one or more of the sites we list here, download the apps, and get to it. You’ll be glad you did.