Simplify your life with debt consolidation.
Personal Loans up to $100,000
Kinecta members: apply here
How does debt consolidation help you save money?
Debt consolidation can reduce the cost of your debt by lowering your interest rate or payment and providing the convenience of a single monthly payment. Then, the〝extra〞money can be applied to reducing your debt or other financial goals.
Benefits of debt consolidation with Kinecta
Save with a lower interest rate
With the Kinecta MyPower Card, enjoy 4.99% intro APR on balance transfers for the first 18 months when requested within the first 90 days of account opening, with no transfer fees. For larger balances, consider a Kinecta Signature Personal Loan.
Interest rate won’t exceed 18%
After the 18-month introductory period of 4.99% APR on balance transfers, the rate will convert to our standard variable APR of between 13.24% and 18.00%.
Our consolidation experts can help you develop a plan
We’ll show you how you can lower your monthly payments and reduce the number of bills you have to manage.
Manage your consolidated debt with 24/7 digital banking
Make payments, transfer funds and manage your MyPower Credit Card account with the Kinecta mobile app.
Take advantage of a 4.99% promo APR with the Kinecta MyPower card.
Which debt consolidation solution is right for you?
Personal loan1 — you are looking for set repayment terms and a fixed rate
You have a large debt you do not foresee paying off in 18 months.
You do not plan on adding to your current debt.
Borrow between $1,000 and $100,000 with a Kinecta Signature Personal Loan.
The rate you pay on a personal loan is generally lower than the high-interest debt you currently carry.
Our personal loan rates are between 10.74% and 18%.
Make one payment to your personal loan instead of several payments to other creditors.
Kinecta members: apply here
Credit card — you have a small amount of debt you can pay off quickly
You can pay off your debt in 18 months.
You plan on using the credit card for regular expenses.
Save money when you complete a balance transfer with the Kinecta MyPower Credit Card promotional APR offer of 4.99% for the first 18 months with no transfer fees2.
After the introductory period, our standard rates of between 13.24% and 18% will apply to any remaining portion of transferred balances.
Balance transfers let you use the available credit on a credit card to pay off other debts.
Manage only one credit card payment rather than keeping up with many credit card bills.
Kinecta members: apply here
What to consider when consolidating debt
Debt consolidation can be a good option for many, but you should review your options carefully before deciding. Here are some factors to consider:
Does the interest rate make financial sense?
With balance transfers, take into consideration the promo rate and the rate after the promo period to see if it works for your financial goals.
Is the loan term longer?
Lower monthly payments can be attractive, but the total interest cost of the loan should also be considered.
Are there any hidden fees?
Neither the MyPower Credit Card nor a Signature Personal Loan comes with hidden fees.
APR = Annual Percentage Rate is variable and subject to change.
1Signature Personal Loan. Subject to credit approval. Rates, loan amounts, and terms are based on standard underwriting factors. Maximum loan amount is $100,000. Minimum repayment term is 12 months, maximum repayment term is 84 months. Monthly payment per $1,000 borrowed at 10.74% APR (after automatic payment discount applied) over a term of 12 months is estimated to be $88.26, over a term of 84 months is estimated to be $16.99. Rates shown include a 0.25% discount for enrolling in automatic payments made from a Kinecta account and will be discontinue if autopay is terminated.
MYPOWER TERMS AND CONDITIONS - click here.
Membership requirements apply. Subject to credit approval. You must be 18 years old to qualify (19 in AL and NE).
Kinecta cardholders with an existing credit card are not eligible for a second credit card of the same type.
2Balance Transfer Offer. In order to receive the balance transfer introductory rate of 4.99% APR for 18 months, a balance transfer must be requested within ninety (90) days of account opening (minimum $500 transfer). Allow 15-30 business days to complete balance transfer. This balance transfer request may not be used to repay any existing Kinecta loans including but not limited to auto loans, mortgage loans, lines of credit, or Kinecta credit cards.
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