Transform Credit Personal Loans

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
$0 prepayment fee. Loan options with $0 origination fee. Funding available within 1 business day. Cosigners accepted.	APRs as high as 35.99%. Does not offer pre-approval with soft credit pull. Charges a late fee

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 fees does Transform Credit charge?

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

Transform Credit 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?

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.