Credit Card Debt Consolidation NZ
Stop paying the minimum forever.
Cards are built to revolve. Move the balances to one fixed loan and the interest clock finally has a stop time.
Why move card debt to a loan?
A card balance at the minimum payment can outlast the thing you bought by years. A fixed loan swaps the treadmill for a straight line.
- ✓One repayment instead of two or three card due dates
- ✓A fixed rate instead of a revolving one
- ✓A finish date you can circle
- ✓Every offer shows the total payable next to what the cards cost1
Your offer, in full
Example1- Borrowed
- $20,000
- Establishment fee
- $240
- Rate, fixed
- 12.50% p.a.
- Term
- 4 years
- Fortnightly repayment
- $248
- Interest and fees
- $5,792
- Total payable
- $25,792
Example only, 14 October 2026. Your rate and fees depend on your credit file and the lender's offer.1
How consolidating your cards works
Tell us the balances
Which cards, roughly what is owing, and what you pay now. Ten minutes, one question at a time.
Compare the switch
Offers come back with the repayment, total payable and finish date next to what the cards are costing you.
The lender clears the cards
Pick an offer and the lender can pay the card balances off directly. One repayment from there.
Learn before you borrow
All guidesQuestions? We've got answers
Should I close my cards after consolidating?
The honest risk of consolidation is clearing the cards and filling them again, which leaves you with the loan and the card debt. Closing them, or cutting the limits right down, is how most people make the switch stick.
Closing cards can nudge your credit file around in the short term, but one loan paid on time beats four cards near their limits.
Will it actually save me money?
Sometimes a lot, sometimes not at all, and the arithmetic is the only honest answer. Card rates in NZ commonly run north of 20% p.a. while a personal loan is priced off your credit file, but a longer term can still cost more in total even at a lower rate.
That is why every offer shows the total payable. If staying on the cards and paying hard is cheaper, your adviser will say so.
Will checking my rate affect my credit score?
No. Checking your rate with BorrowClub does not affect your credit score.2 A hard enquiry only happens if you choose an offer and ask the lender to proceed.
Can I include buy now pay later balances too?
Usually yes. BNPL balances, store cards and overdrafts can typically roll into the same loan, so the whole juggle ends at once. See the debt consolidation page for the full picture.
Visit the guides library for the longer answers.