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.

• 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. 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.

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 fees does Transform Credit charge?

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

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

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.