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Bank of America Debt Consolidation Reviews

Overall rating:
of 5.0
Rates & Fees:
of 5.0
Customer Service:
of 5.0
Knowledge & Expertise:
of 5.0

About Bank of America Debt Consolidation

Bank of America's debt consolidation loan is a great option for those with good credit. With no annual fees and no collateral needed, you can secure a loan up to $25,000 with rates as low as 9.49%. If you don't have strong credit, however, rates can go as up as 25.49%. Be sure to review the terms of debt consolidation loan contract before signing.

Charlotte, NC
Website's Review Rating:
3.0 of 5

As one of the nation's leaders in the banking industry, Bank of America is known and trusted among many Americans. For people in need of a debt consolidation loan, Bank of America offers a product called Clean Sweep Line of Credit. The loan has no annual fees and is an unsecured loan. Bank of America is a leading issuer of credit cards and debt instruments, and then also offers debt consolidation loans and mortgages for Bank of America consumers with debt.

Related Provider Reviews: Bank of America Mortgage and Bank of America Reverse Mortgage


No annual fees, no collateral required for a Bank of America debt consolidation loan.


Variable interest rate, rate is dependent on credit, hard to get approved.

Customer Reviews (2)

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Interest Rates TOO high

by | February 1, 2012
Explain this to me. I get balance transfer offers ALL the time from Bank of America for 0% or low interest. I have great credit. I checked with BofA for a debt consolidation loan and the interest rate quoted was over 20%. No thanks!

Don't Use Bank of America

by | August 17, 2011
Bank of America does debt consolidation loans and refinance loans, and frankly their rates arent all that too bad. But, they are a challenging organization, they always ask me for things that i already sent and they are so unresponsive. WOrk with someone smaller and more oriented on your debt consolidation needs.

  • DB
    Sep, 2012
    Humble, TX
    Do they have consolidation loans for bad or poor credit. I would think a consolidation loan was for that purpose as well. If someone has good credit why would they need a consolidation loan?