Credit Direct Review

Credit Direct is offered by Delmarva Funding LLC, a direct lender founded in 2012 and based in Rockville, MD. Credit Direct is available in 16 states across the USA.

Key takeaways

• Fast access to cash. In some cases you can get your money within 1 business day.
• Fair credit accepted. The credit score needed for Credit Direct is relatively low. Borrowers with a credit score as low as 580 may qualify for Credit Direct.
• Hard credit pull required. You can't check your rates or see if you prequalify for Credit Direct without a hard pull on your credit report. Most lenders give you the option of a soft pull on you credit report.
• Charges a prepayment fee. This is rare for personal loans. It means you will have to pay a fee if you pay off your Credit Direct early.

Credit Direct Pros and Cons:

Pros	Cons
Considers applicants with poor credit. Fast funding.	Charges an origination fee. Do not offer pre-approval with soft credit pull. Charges prepayment fees. Charges late fees. No co-sign option.

What rates and terms does Credit Direct offer?

Credit Direct has lower interest rates than the average for lenders reviewed on SuperMoney.

What fees does Credit Direct charge?

What do you need to qualify for Credit Direct?

Applicants with a credit score of at least 580 and up to 850 are eligible for Credit Direct. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

Credit Direct does not have or does not disclose a minimum annual income eligibility requirement. Credit Direct only considers borrowers who are employed.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via Credit Direct. Their rates fall within the limits of The Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by Credit Direct. Permanent resident / green card holders are also eligible to apply.

To qualify, applicants may need to provide the following documentation:

• Proof of income
• Driver's license
• Government issued photo ID
• Proof of identity
• Proof of citizenship or residence permit

Credit Direct Eligibility Criteria

Minimum Age	18
Bank Account Required?	No
Credit Score	580 - 850

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

Credit Direct will typically approve (or deny) a loan application within 24 hours and fund personal loans within 3 business days of approval.

Does Credit Direct report your account activity to credit bureaus?

Credit Direct reports your account activity to the following credit reporting agencies:

• Equifax
• Experian
• Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and can help improve your credit score.