Credit Card Consolidation Loan

A credit card consolidation loan will amass all your current credit debt across various financial institutions into a single loan. 

With a credit card consolidation loan, you will have to make fixed monthly repayments over the period of your loan tenure. 

This makes for more effective repayment as you will not have to keep track of your multiple loans and their repayment dates and interest rates.

A credit card consolidation loan will come in handy if you are currently having trouble paying off your multiple credit card debt.

It can be extremely helpful for you to clear off your high interest debts. 

This way, you will be better able to keep track of your loan repayments and avoid incurring unnecessary late repayment fees. 

A credit card consolidation loan can also help you get lower interest rates, saving you a significant amount of money. 

Yes. Our credit card consolidation loan will help bring together all your existing credit card debt amassed from various financial institutions into a single plan for easier repayment.

For instance, if you have existing credit debt with three other financial institutions, we can combine them for you into one single credit card consolidation loan.

This way, you will only have to make a single monthly repayment, at a fixed interest rate. 

Credit score is a number used by moneylenders to evaluate how likely an individual will repay his debts and the probability of defaulting on loans. 

It calculates the amount of risks moneylenders face when they lend individuals a loan.

In essence, it is a four-digit number developed from an individual’s previous payments and loan history. 

The score ranges from 1000 to 2000, along with a risk grade from AA – HH.  

Those with a lower score of 1000 (HH) means that they may have a higher chance of defaulting on a loan. 

Those with a higher score of 2000 (AA) means that they will have a lower chance of defaulting on a loan. 

Along with each score, a risk grade and percentage description will be given. The higher the credit score, the easier it is to get a loan.

When applying for a loan, the financial institution will not only look at your credit score, but also at your salary, employment term and bankruptcy information.

With the help of a credit card consolidation loan, you will be able to clear your debts more efficiently at lower interest rates. 

More importantly, ensure that you make your monthly repayments on time and pay off your full loan amount. This can help to improve your credit score.

To qualify for a credit card consolidation loan with Lending Bee®, you’ll simply have to:

• Be a Singapore Citizen, Permanent Resident or a Foreigner with a valid work permit
• Be at least 21 years old
• Be employed / self-employed

For Singaporeans / PRs:

• Proof of identity (NRIC, passport)
• Proof of income (CPF / bank statements)

• Work Permit / S Pass / E Pass
• Proof of residence (Utility bills, phone bills, tenancy agreement, etc.)
• Payslips / bank statements

At Lending Bee®, all applications for our credit card consolidation loan is kept fast and simple. 

• Step 1: Submit your application via our online application form.
• Step 2: We will drop you a call regarding your loan application status within the hour.
• Step 3: Head down to your selected Lending Bee® branch, sign the contract and receive your loan.

We will disburse the funds to you immediately after you have accepted and signed our loan contract at any of our branches. 

Yes, you can still apply for a credit card consolidation loan with us. We aim to help our borrowers regardless of their credit scores. 

This is why we do not have specific restrictions with regard to credit scores.

No, we do not charge any fees for early loan repayments. 

Outstanding interests, if any, will also be nullified once you have finished repaying your loan earlier than the date stipulated in your loan contract.

No, we do not mail any of your loan information to your home. 

All loan details will be kept digital, and private with us, unless a physical copy is requested.