Features

Balance Credit is an online lender based in Irving, TX that provides fast unsecured loans to people with poor to fair credit. Rates are high when compared to prime lenders, but it offers flexible payments and an accessible eligibility criteria. There are no restrictions on how borrowers use the loan funds. Balance Credit was founded in 2013 and has an A rating with the BBB.

How Do Balance Credit Loans Work?

Balance Credit has an online application form that takes a minute to complete. Borrowers receive their approval (or denial) notice in real time. If approved, funds can be deposited as early as the next business day. 

What Are Balance Credit's Rates and Fees?

Rates vary from 99% APR to 1200% APR depending on the term, credit history and state of residence of a borrower. For instance, in California rates range from 99% APR to 284% APR and loan terms go from 14 months to 16 months. In Texas, however, rates go from 99% APR to 1200% APR and the terms range from 4 to 6 months. 

How Much Money Can I Borrow from Balance Credit?

Loan amounts also vary from borrower to borrower and by state. The overall range is $100 to $3,000. In Utah, for instance, the minimum loan amount is $100, and the maximum loan amount is $2,000. In California, the range is $2,600 to $3,000.

Which States Does Balance Credit Operate In?

Balance Credit operates in California, Missouri, New Mexico, Ohio, South Carolina and Texas. However, in some states such as Texas, Balance Credit acts as a credit services provider, not as a direct lender. In other words, the company acts as a middleman between borrowers and a network of partner lenders.

What Is Balance Credit's Application Process Like?

Balance Credit has an online application process that takes a minute to complete. Approval decisions are in real time. So you will know if you qualify and your rate immediately after applying. The qualification requirements are the typical requirements for a payday loan. That is, have a source of steady income, an active checking account, and be a U.S. Resident of legal age. Acceptable sources of income include employment, Social Security Benefits, retirement benefits, unemployment insurance and alimony.

How Is Balance Credit Better than Other Lenders?

The loans offered by Balance Credit have high rates, so if you have fair or good credit, you may qualify for better loans elsewhere. However, if your credit is poor and you need money fast, Balance Credit is a useful resource. Balance Credit offers immediate approval decisions and flexible payment schedules. An advantage over other high interest lenders is that it does report payments to the credit bureaus. So making on-time payments will improve your credit, which will help you qualify for better loans in the future. 

 

  • Loan Amount
    $100 - $3000
  • Payment Options
    Automatic Payments
  • APR
    99% - 1200%
  • Max Loan Term (Months)
    24
  • Checking Account Required?
  • Credit Score Range
    300 - 700
  • Immigration Status Considered
    U.S. Permanent Resident
  • Military Status
    • Non-Military
    • Veterans
  • Minimum Age
    18
  • Supported Income Types
  • Verification Documents Required?
    • Recent pay stubs
    • Driver license (or other photo ID)
    • Proof of citizenship/residence
  • No Prepayment Fee
  • Institution Type
    Direct Lender
  • Approval Speed (Hours)
    1
  • Funding Time
    Next business day
  • Credit Bureau Reporting
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0 votes

My credit score is somewhere between 600-630. I get these offer a lot and I know these loan companies are a scam and prey on people with challenging credit. Over 500% interest is totally ridiculous if you ask me. Only short term loan I will get when I'm really struggling is "activehour". I got a $100 payday loan from activehour and u pick and choose how much you feel is right to pay back. You can choose between $0-$15 + the $100 you borrow.

People who give these companies 5 ... starts and a good review must be working for these companies or is getting paid for creating false reviews. More Less

0 votes

Allegedly, Ohio put a 28% cap on short term loans in 2008 but obviously the same companies we were trying to protect the public from found "legal loopholes" around our Cap Legislation" to the tune of a 591% average in Ohio for Short Term Loans! Horrific!

2008: Ohio General Assembly approves the Short Term Loan Act, which puts a 28 percent APR interest cap on loans, requires terms to be no less than 31 days and limits loan amounts to no more than 25 percent of the borrower's gross ... monthly income.November 2008: The industry tries to block the law but 64 percent of Ohio voters say yes to the Short Term Loan Act in a statewide referendum.

2009 to current: Lenders sidestepped the law by getting licenses to operate as credit service organizations, which don't face fee limits, and issue loans under the Ohio Mortgage Lending Act and the Ohio Small Loan Act. There are no lenders licensed under the Short Term Loan Act, which was intended to regulate payday loans.
More Less

1 votes

Interest is a little bit rough xxx. 3digets pay back xxxx 4digets


1 votes

AVOID AT ALL COSTS!!!!!!!!!!!! I requested a payoff on May 15, 2017 and paid the exact amount I was told. Four months later, I get a call that I owe almost the entire amount again because the payoff quote did not include the current monthly payment and the interest more than tripled that original amount. So far, they are refusing to work with me or adjust anything based on THEIR screwup.

2 votes

Thank God I saw these reviews before I applied for this loan. They seem like a horrendous company!


1 votes

Horrible, horrible, horrible. Run away! Nothing is worth paying the horrendous interest on this loan!!!

2 votes

Not an honest company, be leery. If they tell you that your payment is due on the 25th, they will take it out on as soon as the clock turns 12:01 am. Other companies take their payments at the end of the day, not these loan sharks, they are special.

1 votes

This is NOT a monthly payment!!!! This is an INSANELY high interest rate extracted from your bank account every two WEEKS!!!! Go to RISE insead!!!!!!!!!!!!

1 votes

Predatory AF... vultures taking advantage of folks desperation!!! interest rates over 500% are pure evil! Guess all part of making America great again. Had to find an affordable loan company to pay this off quickly lol

0 votes

Great experience with getting a loan fast, convenient and easy to apply.

0 votes

Great experience quickly processing will reccomend to others who needs quick money

0 votes

Whas fast and easy to do. Even the parts i didnt know were to find the information it wanted it showed me an example so o could find with eas

0 votes

This was the easiest loan I have received. No phone calls, no verification of information. Money deposited in my account. The interest is high but really needed the funds. Will do business with them again. Thanks!

2 votes

Don't borrow rom this extremely overpriced place. It's a rip off. They charged me $130 in interest to borrow $350.00 for 5 days. Reminds me of the old days (loansharking) It should be illegal. I complained to Ohio Attorney General and BBB. Doesn't deserve a star at all, but can't post without one.


2 votes

Web site says you're approved and scheduled for funding THEN when you are expecting a deposit the following day you find out the loan was withdrawn. Would post negative stars if possible.


2 votes

THIS COMPANY IS CRAZY. I DID THE APPLICATION ONLINE JUST TO SEE THE RESULTS. THIS IS WHAT YOU GIVING: 1. Consent for them to charge your bank account to get their money back if you can't make payment putting your account in the negative screwing you up more with your bank. 2. Access to sell your personal information for profit to telemarketing companies.

THIS IS WHAT THEY OFFER YOU: 1. A loan for $300 at least WITH YOU OWING 18 PAYMENTS OF $86.00 (OVER $1,200) if you can't pay it all back.

You ought to ... be a Damn fool or a plain out drug junkie to agree to something like that. You better off going to a pawn shop to pawn something. This is the most crazy offer I've received. A company that profits off of other people's stupidity. No thanks and no thanks, SCREW YOU! More Less

2 votes

Your profit, and interest rate are way to high! You'd make more loans, with less interest!!


1 votes

No I am not happy with balance credit. There is many lenders they have good service with the customer .

3 votes

You are a scam and you stole my money I paid off in full being told I could get more if I paid this off, Your review is a lie and I have turned you in to BBB and am contemplating a police report. You owe me a refund.


0 votes

Online application process is easy and simple especially for returning customers. Funds were available the next day.

2 votes

I just received an offer and now I can see here that this is not a company I will be doing business with. Shame on you balance credit for preying on people who are struggling!

0 votes

Good company and I would use them again. Thank you very much.

0 votes

I have had a wonderful experience with balance credit and will recommend them to anyone who needs a loan


0 votes

Although the fees are high, the loan I got helped me out tremendously! When your credit isn't perfect it's places like this that helps you out and can help rebuild your credit.

2 votes

Nice for the loan of $550 but 16 payments of $119 seems extreme. I'm gogint o pay this off early and never come here again!


0 votes

easy to set up easy to pay got money when I needed it

0 votes

Balance Crédit are just excellent. There supportive action means so much. We are thankful for there help. Michael M


0 votes

It was a very easy process to set up an account and everyone I spoke with was friendly and courteous


0 votes

terrific, very prompt with the funds, very simple process, thankyou


0 votes

Very quick application and funding. If you are looking for this type of loan, it doesn't get any easier.

0 votes

It's a great service to use when you need loan money.I love it in will recommend this to my family and friends.

0 votes

Well, I will say process wise I had no problems at all, never have. my only issue is that once you have numerous through them you should get a serious interest/funding break on a loan...

1 votes

After reading these reviews...no thank you! This company sounds real shady.

1 votes

Finance charges are outrageous. They need to have an option to pay off balance or early.

1 votes

Your rates are just too high but at the time I needed money, your company was the only one I could turn to, but now I realized I shouldn't have did that. Compared to another company I just found, I was better off applying with them as they had rates nowhere near yours and had flexible payment options. After I've paid my balance off with your company, I will not be returning.

Lyle Nelson From New Mexico


2 votes

I had two payments left and went into a debt consolidation plan because of some other loans. This company reported my balance was over $2500 (it was maybe $700 at the time), won't tell me anything about my own account over the phone, nor will they provide me with my original contract or schedule of payments. Their call center appears to be overseas and they hung up on my debt consolidation firm. Shady!


2 votes

Don't do it, even if u r desperate for money. LISTEN TO WHAT I am saying....please


2 votes

Balance credit sucks they are zero out of 5 stars


2 votes

They had me sign a loan repayment agreement and I gave them a lot of personal information - multiple times and was still denied. They said if I signed the agreement that I had the loan ... liars ....

1 votes

I had applied, but yet they had denied me. They claim that they help people with poor credit. In my case, they didn't. This is a deceptive company.

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