Personal loans

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Pay Off Credit Card

Trusted by thousands of Australians

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Find out how much your repayments and
interest rate could be with our calculator


Monthly repayment from


Example interest rate

6.25 %

Comparison rate3

7.64 %

Total charges


Total repayments


Disclaimer: This calculator provides an estimate only and a comparison rate based on the example information provided. Other fees, costs and charges are not included. This calculation is not an offer for credit. The amount you can borrow may vary once you complete a loan application and all the details relevant to our lending criteria are captured and verified. Any calculations made by you using this calculator is intended as a guide only.

Personal Loan to Pay Off Credit Card

You may be wondering, ‘can I use a personal loan to pay off a credit card’? The answer is yes—if you have a large credit card debt it may be worth considering taking out a personal loan to pay off your credit card. By doing this, you have the potential to save money by reducing your interest payments, as interest rates on personal loans are generally lower than your credit card rate.

Similar to taking out personal loans for debt consolidation, as well as saving you money, getting a personal loan to pay off a credit card can also make it easier to manage your debts by having one regular monthly payment, and a variable repayment period. Having a variable repayment period will make it easier to budget and you can see light at the end of the tunnel. Getting a personal loan to pay off your credit card can be a great way to simplify your finances.

Research for the most suitable lender

Everyone’s financial situation is different, so before applying for a personal loan to pay off a credit card, it is worth doing a personal loan comparison so you can weigh up your different options. From a variable rate personal loan or a variable rate personal loan, a secured or unsecured loan and short term loans or long term personal loans, there are many alternatives to consider when choosing the best loan for you. As well as banks, there are now several online credit providers, such as MoneyMe, who offer competitive rates for personal loans, so by shopping around you can find the best deal for you.

Offering some of the most competitive interest rates in Australia, MoneyMe’s easy loans start from a super low 6.25% per annum depending on your personal circumstances. MoneyMe is fully transparent with their rates so you’ll know upfront about the cost structure and any fees and charges.  Whether you need a $5,000 personal loan, a $20,000 personal loan, or a $30,000 personal loan, MoneyMe can help. We offer personal loans online of up to $50,000—and we do it fast.

Borrow money in line with your capacity to repay

It’s important to keep in mind though, that taking out a personal loan to pay off credit card debt is a way to try to make managing your finances better, so you don’t want to borrow more than you can comfortably afford to pay back. At MoneyMe, we pride ourselves on being a responsible lender. We want to make your life easier, not harder! You can use our free online personal loan calculator to help you work out how much the repayments, interest, and fees are likely to be depending on how much money you are borrowing and for how long. This will help you work out what’s affordable before going ahead.  

To apply for a personal loan to pay off credit card debt at MoneyMe, you need to be over 18, an Australian resident and employed in Australia. Other criteria we take into account to determine your loan eligibility include your income, your expected living costs, and your credit history.  Several factors will affect your credit scores such as how much money you’ve borrowed, whether you’ve made your past repayments on time, and the number of credit applications you have made. Everyone’s situation is different so we don’t automatically disqualify anyone who has a bad mark on their credit file. We always see to it that we look at the big picture. There will be some instances, such as if you have a poor credit history, are bankrupt, or are in a debt agreement where we won’t approve your personal loan. If your loan does get rejected, however, you are welcome to apply again in the future when your situation improves. We also like to reward our customers who make on-time payments, so if you build up a strong MoneyMe credit history, we can offer you lower costs in the future.

Quick, easy and all online

Once you’ve decided you want to take out a personal loan to pay off a credit card, you are ready to apply online. MoneyMe provides a quick and straightforward application process. You just need to let us know the amount of money you’d like to borrow, what your ideal repayment period is, and then let us know some personal information such as your bank account details and your email address. There is no longer any need to supply reams of paperwork. Our advanced technology platform means that once we have received your online application you’ll usually receive the decision about your same day loans in just a few minutes. And the good news is once your personal loan has been approved, you could have access to your money within an hour depending on who you bank with. It will take a bit longer if you apply outside business hours. 

If you have any questions about taking out a personal loan to pay off a credit card, our friendly support team can help you 7 days a week via phone, email, or online. If you are looking for quick loans with no hidden fees, MoneyMe is a great choice. Contact us today and see how we can help you to better manage your finances.

Our customers

Pay Off Credit Card

Unbelievably easy finance when I needed it the most. A huge thank you from me and as a returning customer I know that I am getting a fair deal.

After 5 to 10 minutes of filling up my application, my loan has been approved and the money was in my bank account. I had a great experience that is why I'm giving them a 5-star rating. Excellent service. Thank you very much, MoneyMe.

Amazing through and through. MoneyMe helped me out when no one else would and they have been a delight to deal with. I 100% recommend their service. They're an absolute joy to deal with!


Review Stars Out of 2,701 reviews

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Transparent and
simple pricing

Interest rate

6.25 %
to 19.95 %

Comparison rate*

7.64 %
to 21.32 %

Establishment fee

$295 for loans between $2,100 and $5,000

$395 for loans between $5,001 and $15,000

$495 for loans between $15,001 and $50,000

Monthly fee


Loan terms

Minimum 1 year

Maximum 5 years

Early exit fees


*This comparison rate is based on an unsecured personal loan of $30,000 for a term of 5 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. A $495 establishment fee and $10 monthly fee applies.

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