Xact Loan

Xact Loan Review

Xact Loan is offered by Xact, a direct lender founded in 1993 and based in Cincinnati, OH. Xact Loan are available in 25 states across the USA.

Key Takeaways

• Uses a variable APR. This is uncommon for personal loans. If interest rates rise in the future it could make the monthly payments more challenging.
• Fast access to funds. If approved, you can sometimes get your money within 1 business day*.
• No origination fee. Xact Loan does not charge a loan origination fee.

Xact Loan Pros & Cons

Pros	Cons
$0 prepayment fee. Loan options with $0 origination fee. Funding available within 1 business day.	Does not offer pre-approval with soft credit pull. Charges a late fee

Xact Loan FAQ

What interest rates and personal loan terms does Xact Loan offer?

Xact Loan has lower than average interest rates for lenders reviewed on SuperMoney.

What fees does Xact Loan charge?

What do you need to qualify for Xact Loan?

Applicants with a credit score as high as 850 are eligible, but Xact Loan does not require a minimum credit score. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

Xact Loan does not have or does not disclose a minimum annual income eligibility requirement. Xact Loan only considers borrowers who are employed.

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 Xact Loan. 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 Xact Loan.

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

• Applicants must have an active and valid personal checking or savings account
• Recent pay stubs
• Proof of income
• Recent bank statements
• Driver's license

Xact Loan Eligibility Criteria

Minimum Age	18
Bank Account Required?	Yes
Application Types Accepted	Individual Applications
Credit Score	up to 850

What is the estimated funding time for a personal loan via Xact Loan?

Xact Loan will typically approve (or deny) a loan application within 24 hours and fund loans within business day of approval.

Does Xact Loan report your account activity to credit bureaus?

Yes, Xact Loan reports your account activity to the following credit reporting agencies:

• Equifax
• Experian
• Transunion

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 Xact Loan legit?

Xact was founded in 1993, it is a well-established company that has been in business for 30 years.

Unfortunately, we don't have sufficient community reviews to provide a reliable rating of their user experience and customer service.