Transform Credit Personal Loans
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| Community Rating |
Rating not yet determined |
| 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 funds. In some cases, you can get your money within 1 business day*.
- 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
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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?
Business loan amounts start at $3,100 and 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 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
| 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.
Is Transform Credit Inc a legit company?
Transform Credit Personal Loans was founded in 2018. It is an established company with approximately 5 employees that has been in business for 4 years.
Unfortunately, we don't have sufficient community reviews to provide a reliable rating of their user experience and customer service.
Message From Transform Credit
Contact
- Headquarters
-
332 S. Michigan Ave, Floor 9
Chicago, IL 60604 USA - Visit Site
- Email Support
About Transform Credit Personal Loans
Availability
- Georgia
- Utah
- Wisconsin
Feature Breakdown
| No Origination Fee | |
| No Prepayment Fee | |
| Origination Fee ($) | $0 |
Transform Credit Personal Loans Community Reviews
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