Friday, October 4th
2024 Personal Loan Reviews
Upstart
- Loans between $1,000 and $50,000 (1)
- Utilizes more than just your credit score to determine eligibility
- Connects borrowers to a vast network of over 100 banks and credit unions
- Fixed 3 or 5 year terms (3)
- Most loans funded within 24 hours (4)
- Available in 48 states (excluding Iowa and West Virginia)
- "A+” rated and accredited by the BBB
- Over 40,000 five-star reviews from clients
When you're searching for a personal loan, Upstart makes it simple. They look beyond your credit score, considering factors like your education and work history to offer fair lending opportunities. Qualifying is straightforward, requiring you to meet basic criteria like a minimum income and stable employment. With Upstart's quick application process, you can apply in just a few minutes without affecting your credit score. Plus, you may receive loan offers within minutes and get your funds as soon as the next business day. Keep an eye out for any origination fees, but rest assured that Upstart welcomes early repayments. With thousands of satisfied customers and a stellar reputation, Upstart is our top choice for personal loans, offering competitive rates and terms for borrowers just like you.
Bad Credit Loans
- Refers you to lenders in their network
- Loans from $500 to $10,000
- Repayment terms from 90 days to 6 years
- "A+” rated by the BBB
Bad Credit Loans can match you with a wide array of lenders, including banks, credit unions, and state and Tribal lenders, enabling you to borrow between $500 and $10,000, and repayment terms spanning from 90 days to 6 years, contingent upon your individual credit profile. However, they don't take any responsibility for the lenders in their network, and you won't know the lenders' identities beforehand, making it difficult to assess their trustworthiness. Despite their "A+” rating from the BBB and limited complaints, Bad Credit Loans receives mixed reviews, with some customers appreciating the loan access but others expressing concerns over high interest rates and extensive data collection during the initial application (including complete banking info).
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Where Can You Find the Best Personal Loans?
Personal loans are a type of borrowing where you can get money from a bank, credit union, or online lender and pay it back over time with interest. Why would you want to take out a personal loan? There are plenty of reasons. Typically, people turn to personal loans for big purchases or expenses you can't afford to pay for all at once, like buying a car, paying for a wedding, or covering unexpected medical bills.
Personal loans can also be helpful if you want to consolidate high-interest debt from credit cards into one lower-interest loan, which can save you money in the long run. Some people also use personal loans to fund home improvement projects or even to take a much-needed vacation.But before you go rushing off to apply for a personal loan, there are a few things you should consider.
Personal Loan FAQ
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First, think about whether you really need the money and if you can afford to pay it back. Taking out a loan is a big responsibility, and you don't want to get in over your head with debt. Take a look at your budget and make sure you can comfortably make the monthly payments.
Next, you'll want to shop around and compare loan offers from different lenders to make sure you're getting the best deal. Pay attention to things like interest rates, fees, and repayment terms. You can usually get prequalified for a loan online without affecting your credit score, which can help you see what kind of offers you might be eligible for.
Speaking of applying online, should you do it? Absolutely. It's super convenient to apply for a personal loan online since you can do it from the comfort of your own home and compare offers from multiple lenders without having to visit a bunch of banks or credit unions in person.
Plus, many online lenders offer quick approval and funding, so you can get the money you need fast. Just make sure you're dealing with a reputable lender and that you understand all the terms and conditions of the loan before you sign on the dotted line.
Now that you're ready to apply for a personal loan, which lender or website is best? Here are some things to look for as you make the decision:
Can the lender offer you the amount you're thinking of borrowing? Some personal loan providers only go up to $10K, while others go as high as $100K. - Rates and fees. It's important to know not only how much you'll be paying in interest but also in fees (like origination). Fees are often taken out of the loan money before it hits your account, which can affect the amount of the loan you need to request.
- Funding timeframe. How long will it take for your loan money to get to you? Can you get it deposited into your bank account in a day or less? If you need the money quickly, choose a lender that can get it done fast.
- Reputation. Does the lender or referral service have a good reputation? Do people who have used it to borrow money recommend it? Has the Better Business Bureau given the company a good grade?
To help you find the best option for getting a personal loan, the experts at Top Consumer Reviews have reviewed and ranked some of today's most popular lenders and referral platforms. Use our research to start your journey with a trustworthy company and get the funds you need!
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