
Transform Credit Personal Loans
Would you recommend Transform Credit Personal Loans to your friends?
Community Rating | Mostly not recommended |
APR (Fixed APR) |
35.99% (Verified 11/09/2023) |
Loan Amount | $3,100 - $7,000 |
Loan Term (Months) | 12 - 60 months |
Number of Reviews | 19 |
Transform Credit Personal Loans Review
Transform Credit Personal Loans is offered by Transform Credit Inc, a direct lender founded in 2018 and based in Chicago, IL. Transform Credit are available in 9 states across the USA.
Key Takeaways
- APRs starting at 35.99%. Personal loan interest rates typically range between 5% and 36%. The starting rates for Transform Credit Personal Loans are on the higher end of the spectrum.
- Fast access to funds. If approved, you can sometimes get your money within 1 business day*.
- Strongly recommended. 9 out of 19 SuperMoney community members recommended Transform Credit Personal Loans.
- No origination fee. Transform Credit Personal Loans does not charge a loan origination fee.
- Cosigner applications accepted. Applying for Transform Credit Personal Loans with a cosigner can improve your chances of approval and help you qualify for lower interest rates.
Transform Credit Pros & Cons
Pros | Cons |
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Transform Credit FAQ
What interest rates and personal loan terms does Transform Credit offer?
Transform Credit has higher than average interest rates for lenders reviewed on SuperMoney.
What interest rates does Transform Credit offer?
Transform Credit offers a fixed APR personal loan product of 35.99%.
How much can you borrow via Transform Credit?
Personal loan amounts start at $3,100and go up to $7,000
What is the maximum loan term you can get with Transform Credit?
Transform Credit offers loans with terms of up to 60 months.
Personal Loan Amount | $3100 - $7000 |
Loan Term | 12 - 60 months |
APR | 35.99% |
What fees does Transform Credit charge?
Does Transform Credit charge an origination fee?
Transform Credit does not charge a personal loan origination fee.
A personal loan origination fee is what some lenders charge for processing, underwriting, and funding a personal loan. Typically origination fees range from 0.5% to 5% of the personal loan amount. Whenever possible, go with lenders that don’t charge origination fees.
Does Transform Credit charge a late fee?
No, Transform Credit will not charge you a late fee if you miss one of the monthly payments.
Does Transform Credit charge prepayment fees?
No, Transform Credit does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the personal loan off early.
Origination Fee | No |
Prepayment Fee | No |
Late Payment Fee | No |
What do you need to qualify for Transform Credit Personal Loans?
Transform Credit Personal Loans does not require a minimum credit score, the borrower can have any credit score. However, borrowers must have a co-signer that is willing to make payments if they dont pay. The minimum age to be eligible is 18 or the state minimum, whichever is higher.Transform Credit Personal Loans does not have or does not disclose a minimum annual income eligibility requirement. Transform Credit Personal Loans will consider borrowers regardless of their employment status if they can prove their ability to repay their obligations. Note that borrowers can add a cosigner to either meet eligibility requirements or qualify for lower interest rates.
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 Transform Credit Personal Loans. Their rates fall within the limits of The Military Lending Act.
U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by Transform Credit Personal Loans.
To qualify, applicants may need to provide the following documentation:
- Driver's license
Minimum Age | 18 |
Bank Account Required? | No |
Application Types Accepted |
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Credit Score | N/A |
What is the estimated funding time for a personal loan via Transform Credit?
Transform Credit will typically provide a credit approval decision in less than an hour and fund the loan within 1 business day.
Does Transform Credit Personal Loans report your account activity to credit bureaus?
Yes, Transform Credit Personal Loans reports your account activity to the following credit reporting agencies:
- Experian
Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.
Are Transform Credit Personal Loans legit?
Transform Credit Personal Loans was founded in 2018. It is an established company with approximately 50 employees that has been in business for 5 years. Transform Credit Personal Loans are mostly not recommended by SuperMoney community users.
Message From Transform Credit
Contact
- Headquarters
-
1440 W Taylor St
Chicago, IL 60607 USA - Visit Site
- Email Support
About Transform Credit Personal Loans
Availability
- California
- Georgia
- Idaho
- Illinois
- New Hampshire
- Oregon
- South Dakota
- Utah
- Wisconsin
Feature Breakdown
No Origination Fee | |
No Prepayment Fee |
(Verified 11/09/2023) |
Origination Fee ($) | $0 |
Transform Credit Personal Loans Community Reviews
Would you recommend Transform Credit Personal Loans to your friends?
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