in Personal Loans from KMD Partners LLC
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Credit Ninja Review
Credit Ninja is offered by KMD Partners LLC, a direct lender founded in 2017 and based in Chicago, IL. Credit Ninja is available in 25 states (and Washington, DC).
- Fast access to cash. In some cases you can get your money within 1 business day.
- Poor credit accepted. Even if you have bad or poor credit, you can apply. Borrowers with a credit score as low as 500 are considered for Credit Ninja.
- Hard credit pull required. You can't check your rates or see if you prequalify for Credit Ninja without a hard pull on your credit report. Most lenders give you the option of a soft pull on you credit report.
- Origination fee of 5%. This is average for lenders that charge origination fees. However, plenty of lenders don't charge them.
Credit Ninja Pros and Cons:
What rates and terms does Credit Ninja offer?
Credit Ninja has higher interest rates than the average for lenders reviewed on SuperMoney.
What APR rate does Credit Ninja offer?
Credit Ninja offers a fixed APR personal loan product that ranges from 199% APR up to 349% APR.
Your APR can vary depending on several factors, such as your credit score. Find out what your credit score is and whether there is any false or inaccurate information in your credit history with these credit monitoring tools.
How much can you borrow via Credit Ninja?
Loan amounts start at $250 and go up to $3,000.
What can a personal loan from Credit Ninja be used for?
Personal loans from Credit Ninja are typically used for special purchases, debt consolidation, home improvement projects, weddings, medical expenses & procedures, unexpected expenses or similar purposes.
What is the maximum loan term you can get with Credit Ninja?
Credit Ninja offers personal loans with terms ranging from 12 to 18 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.
|Loan Amount||$250 - $3000|
|Loan Term||12 - 18 months|
|APR||199% - 349%|
What fees does Credit Ninja charge?
Does Credit Ninja charge an origination fee?
Credit Ninja may charge a loan origination fee of 5% of the loan amount. Credit Ninja deducts the fee directly from your loan amount before depositing your money, so make sure you take this fee into account when deciding how much you need to borrow.
Does Credit Ninja charge a late fee?
Yes, Credit Ninja may charge borrowers a late payment fee.
Does Credit Ninja charge prepayment fees?
No, Credit Ninja does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.
|Late Payment Fee||N/A|
What do you need to qualify for Credit Ninja?Applicants with a credit score that ranges from 500 are eligible for Credit Ninja. The minimum age to be eligible is 19 or the state minimum, whichever is higher.
Credit Ninja does not have or does not disclose a minimum annual income eligibility requirement. Credit Ninja 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. APRs for the Credit Ninja product fall outside of the MLA limits and as a result the product cannot be issued to these applicants. Active duty service members and their covered dependents are considered “covered borrowers" under the Military Lending Act.
U.S. citizens are, of course, eligible for the services offered by Credit Ninja. 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
|Bank Account Required?||No|
|Credit Score||Starting at 500|
What is the estimated funding time for a personal loan via Credit Ninja?
Credit Ninja will typically provide a credit approval decision in less than an hour and fund the loan within 1 business day.
Does Credit Ninja report your account activity to credit bureaus?
Credit Ninja does not report to any of the major credit bureaus. Creditors are not required to report payment activity to credit bureaus. However, making regular on-time payments to a creditor that reports to one or more credit bureaus may help improve your credit score.
- Washington, DC
- New Mexico
- South Carolina
|No Prepayment Fee|
|Origination Fee (%)||5%|
|Employment Statuses Considered||
|Immigration Status Considered||
|Supported Income Types||
|Verification Documents Required||
|Credit Score Range||
|Approval Speed||0 hours|
|Credit Bureau Reporting||None|
|Customizable Payment Dates|
|Funding Time Range||1 day|
|Loan Amount||$250 - $3,000|
|APR (Fixed APR)||199% - 349%|
|Loan Term||12 - 18 months|