Break up with your debt and boost your score

Mogo can help get you preapproved for a personal debt consolidation loan of up to $35,000 in just three minutes.

That money can allow you to pay off all your credit cards right away. Moving forward, you’ll only have to make a single monthly payment at a much lower interest rate.

Mogo and its partners offer loans starting as low as 9.9% APR, so depending on how much interest you pay on your cards, consolidating your debt could save you thousands in interest and help you become debt-free years sooner.

Repayment schedules can be up to five years, and Mogo will even let you test drive certain loans for 100 days. If you’re not happy with your experience, just pay back the amount you borrowed and Mogo will refund any interest or fees you’ve paid.

If you stick with your personal loan, making your payments on time each month can help pump up your credit score. And since Mogo gives borrowers free access to its credit monitoring service, you’ll be able to check in on your score each month and keep track of your progress.

Shake off your high-interest cards and start fresh

Clearing out high-interest credit card debt can be a game-changer, and in just three minutes Mogo can start you on your way.

Even if you're just curious about how much you can save, checking out Mogo’s offers won't hurt your credit score at all, there is no obligation to take the loan — and it could save you thousands.

About the Author

Shane Murphy

Shane Murphy


Shane is a reporter for MoneyWise. He holds a bachelor’s degree in English Language & Literature from Western University and is a graduate of the Algonquin College Scriptwriting program.

What to Read Next

Canadian Homeowners: There’s Still Time to Save Big By Refinancing Your Mortgage

With mortgage rates near record-lows, you can save lots of money on your home loan.

Using a gift letter for a mortgage down payment

A family member is helping with your down payment? Lucky you! But be sure you submit a gift letter.

What is the Home Buyers' Plan?

You could access up to $35,000 of your retirement savings to buy your first property.

What is stagflation, and are we headed into a “perfect storm?”

Dark skies and choppy waters are in the forecast, but whether we’re facing a “once-in-a-generation” problem isn’t so certain.