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Balance Credit

in Personal Loans

Unaffiliated Visit Site Find My Best Rate

Balance Credit

Unaffiliated

in Personal Loans

SuperMoney Net Recommendation Score -58% Recommendation score measures the loyalty between a provider and a consumer. It's at +100% if everybody recommends the provider and at -100% when no one recommends.

Strongly not recommended

22 users recommend
6 users are unsure
92 users don't recommend
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Overview

Where does Balance Credit do business?

Balance Credit is a direct lender based in Chicago, IL. Founded in 2013, Balance Credit offers access to personal loans in 10 states across the USA.

What are the APRs offered via Balance Credit?

Balance Credit offers a fixed APR personal loan product that ranges from 99% up to 720% APR.

Does Balance Credit charge an origination fee?

No, Balance Credit does not charge a loan origination fee.

A loan origination fee is what some lenders charge for processing, underwriting, and funding a loan. Typically fees range from 0.5% to 5% of the loan amount. Whenever possible, go with lenders that don’t charge origination fees.

Does Balance Credit charge a late fee?

No, Balance Credit will not charge you a late fee.

Does Balance Credit charge prepayment fees?

No, Balance Credit does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.

How much can you borrow via Balance Credit?

Loan amounts start at $100 and go up to $5,000.

What can a personal loan from Balance Credit be used for?

Personal loans from Balance Credit are typically used for special purchases, debt consolidation, home improvement projects, weddings, unexpected expenses or similar purposes.

What is the maximum loan term you can get with Balance Credit?

Balance Credit offers personal loans with terms ranging from 4 to 24 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.

What do you need to qualify for a loan with Balance Credit?

Applicants with a credit score of at least 300 can apply for a loan via Balance Credit . The minimum age to apply for a loan is 18 or the state minimum, whichever is higher.

Balance Credit only considers borrowers who are employed.

Active duty servicemembers and their covered dependents cannot apply for a loan via Balance Credit. The Military Lending Act prohibits lenders from charging servicemembers more than a 36% APR.Only U.S. citizens and permanent residents can apply for a loan.

What is the estimated funding time for a personal loan via Balance Credit?

Balance Credit will typically approve (or deny) a loan application within 1 hour and fund personal loans within 2 business days of approval.

BALANCE CREDIT Disclosure: *Loan amount and approval not guaranteed. Loan approval and amounts are based on state law, minimum income amounts and other credit criteria. Complete disclosures of APR, fees and payment terms are provided within the Loan Agreement. **Balance Credit or third-party lender reserve the right to make adjustments to your approval until the time you receive the funds in your bank account based on new information regarding your application.
SUPERMONEY Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...

Contact

  • Headquarters
  •   33 North LaSalle Street, Suite 800
    Chicago, IL 60602 USA
  •   Visit Site

Message from Balance Credit

Sometimes an unexpected event can throw your life and finances off balance. We’re on your side, and strive to help with the simple solution for life’s little hiccups. Get emergency cash – fast. We offer personal installment loans, allowing you to set the amount and the number of payments - depending upon your credit, personal financial history, and according to state law. Go to our site and fill out our quick and easy online application to check your eligibility.

Availability

Alaska Alabama Arkansas Arizona California Colorado Connecticut Washington, D.C. Delaware Florida Georgia Hawaii Iowa Idaho Illinois Indiana Kansas Kentucky Louisiana Massachusetts Maryland Maine Michigan Minnesota Missouri Mississippi Montana North Carolina North Dakota Nebraska New Hampshire New Jersey New Mexico Nevada New York Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Virginia Vermont Washington Wisconsin West Virginia Wyoming
  Available in 10 states
  • California
  • Delaware
  • Idaho
  • Missouri
  • New Mexico
  • Ohio
  • South Carolina
  • Texas
  • Utah
  • Wisconsin

Feature Breakdown

No Origination Fee  
No Prepayment Fee  
No Late Fees  
Minimum Age 18
Credit Score Range 300 - 700
850 300 700
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Employment Statuses Considered
  • Employed Full-Time
Military Status
  • Non-Military
  • Veterans
Joint Loan Applications Accepted
  • Individual Applications
Loan Amount $100 - $5K
Loan Term (Months) 4 - 24
APR (Fixed APR) 99% - 720%

Reviews

 
 

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