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  Transform Credit Personal Loans

Transform Credit Personal Loans

in Personal Loans from Transform Credit Inc

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Transform Credit Personal Loans

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in Personal Loans from Transform Credit Inc

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Highlights
Highlights
APR  (Fixed APR) 35.99%
Loan Amount $3,100 - $7,000
Loan Term (Months) 12 - 60 months

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 Personal Loans is available in 3 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 cash. In some cases you can get your money within 1 business day.
  • Hard credit pull required. You can't check your rates or see if you prequalify for Transform Credit Personal Loans without a hard pull on your credit report. Most lenders give you the option of a soft pull on you credit report.
  • 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 Personal Loans Pros & Cons
Pros Cons
  • $0 prepayment fee.
  • $0 origination fee.
  • Funding available within 1 business day.
  • Cosigners accepted.
  • APRs as high as 35.99%.
  • Do not offer pre-approval with soft credit pull.
  • Charges a late fee.
Transform Credit Personal Loans FAQ

What rates and terms does Transform Credit Personal Loans offer?

Transform Credit Personal Loans has higher interest rates than the average for lenders reviewed on SuperMoney.

What APR rate does Transform Credit Personal Loans offer?

Transform Credit Personal Loans offers a fixed APR personal loan product of 35.99%.

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 Transform Credit Personal Loans?

Loan amounts start at $3,100 and go up to $7,000

What can a personal loan from Transform Credit Personal Loans be used for?

Personal loans from Transform Credit Personal Loans 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 Transform Credit Personal Loans?

Transform Credit Personal Loans offers personal loans with terms ranging from 12 to 60 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.

Transform Credit Personal Loans Rates & Terms
Loan Amount $3100 - $7000
Loan Term 12 - 60 months
APR 35.99%

What fees does Transform Credit Personal Loans charge?

Does Transform Credit Personal Loans charge an origination fee?

Transform Credit Personal Loans 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 Transform Credit Personal Loans charge a late fee?

Yes, Transform Credit Personal Loans may charge borrowers a late payment fee.

Does Transform Credit Personal Loans charge prepayment fees?

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

Transform Credit Personal Loans Fees
Origination Fee N/A
Prepayment Fee? No
Late Payment Fee N/A

What do you need to qualify for Transform Credit Personal Loans?

Transform Credit Personal Loans does not require or does not disclose a credit score minimum. 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 are, of course, eligible for the services offered by Transform Credit Personal Loans. Permanent resident / green card holders are also eligible to apply.

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

  • Driver's license
Transform Credit Personal Loans Eligibility Criteria
Minimum Age 18
Bank Account Required? No
Application Types Accepted
  • Cosigners
  • Credit Score N/A

    What is the estimated funding time for a personal loan via Transform Credit Personal Loans?

    Transform Credit Personal Loans 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?

    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 can help improve your credit.

    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...
    Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

    Contact

    • Headquarters
    •   332 S. Michigan Ave, Floor 9
      Chicago, IL 60604
    •   Visit Site

    Hours of Operation

    • Sunday Closed
    • Monday 6:00am - 3:00pm
    • Tuesday 6:00am - 3:00pm
    • Wednesday 6:00am - 3:00pm
    • Thursday 6:00am - 3:00pm
    • Friday 6:00am - 3:00pm
    • Saturday Closed

    About Transform Credit Personal Loans

    Message From Transform Credit Inc

    We don't believe computerized credit scores tell us the whole story. So we asked the question: is there any other way to judge whether a person will pay back a loan? And then we introduced a new concept: trust. If you have someone who trusts you enough to cosign to guarantee your loan, we will lend you. Simple really.

    Availability

      Available in 3 states
    • Georgia
    • Utah
    • Wisconsin

    Feature Breakdown

    No Origination Fee  
    No Prepayment Fee  
    Origination Fee ($) $0
    Employment Statuses Considered
    • Employed Full-Time
    • Employed Part-Time
    • Retired
    • Self-Employed
    • Unemployed
    Immigration Status Considered
    • U.S. Citizen
    • U.S. Permanent Resident
    Joint Loan Applications Accepted Cosigner
    Military Status
    • Active Duty Military
    • Military Dependent
    • Non-Military
    • Veterans
    Minimum Age 18
    Supported Income Types
    • 1099 Misc. Income
    • Cash
    • Direct Deposit (W2, SSA, SSDI)
    • Payroll Check or Prepaid Card
    • Tax Returns
    Verification Documents Required Driver License (or other photo ID)
    Approval Speed 0 hours
    Credit Bureau Reporting Experian
    Customizable Payment Dates  
    Funding Time Range 1 day
    Payment Options
    • Automatic Payments
    • Credit/Debit Card
    Loan Amount $3,100 - $7,000
    APR (Fixed APR) 35.99%
    Loan Term 12 - 60 months

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