Debt Consolidation Loan - How to get one?

[Anonymous]

I must be going about it wrong so I could use some  help on figuring out how to actually get a debt consolidation loan.

FICO Scores as of Today (4/7/2017)

Equifax - 620

Transunion - 639

Experian - 644

I have 100% on time payments, I have no negative remarks on my credit, I have 90%+ Credit Card Utilization (thus the entire reason why I want to get a debt consolidation loan), I have several recent inquiries (me applying for said loan but gettind denied because of my CC utilization and available credit).

I have a mortgage through US Bank - tried applying through them and was denied

I've been a Wells Fargo Member since 2006 - tried applying through them and was denied

I have tried Lending Tree and another internet lender - both denied

These debts have high interest rates and while if I keep paying the minimums while throwing extra money per month at them, it will eventually get better.  However I'm going to need a new car within the year (my current car is 14 years old and is starting to act like a 14 year old car) as well.  A debt consolidation loan would do two things (1) Free up excess money per month if I can get it at a decent rate and term length (15k @ 5 years would be perfect) (2) Every calculator I put this scenario into increases my score by at least 80 points.  So it would really be a win/win for me, except I can't get accepted for said loan.

So, how do I go about actually getting accepted for this type of a loan?  My scores aren't exactly good but they're not horrible either, and the only bad things on my report is the entire reason for the loan (high utilization and low available credit).

[MrsCHX]

I got approved through One Main Financial with an EQ of ~580 but the rate was 21.75%. Still less than all of the cards I had balances on, but it's a lot of money. I hope to transfer that balance or take out another loan with a lower rate in the  next year.  My scores did jump significantly once my utilization dropped to single digits. 

They have a prequal tool on their site now. BUT, I did have to go into a branch to complete the paperwork.

[Anonymous]

Thanks for the heads up, I filled out an application with them on Friday (Monday now) so hopefully everything goes well on it.  I'll update this thread if I do or don't get approved.

[MrsCHX]

Good luck! Fingers crossed for you.