– Reliable Credit Personal Loans –
Reliable Credit Personal Loan is a personal loan offered by Reliable Credit, a direct lender based in Milwaukie, OR. Founded in 1958, Reliable Credit offers access to personal loans in 4 states across the USA.
Reliable Credit also provides personal loans for consumers who need funds to cover their costs for home improvements and repairs, medical bills, vehicle repairs, vacations, education, and other financial needs that pop up.
Requirements of Reliable Credit Loans
In order to apply for a consumer loan with Reliable Credit, you can apply online on its website–where the loan application process is completed.
Again, only residents from Oregon, Idaho, Arizona, and Washington are eligible to apply for a personal loan from this lender. For an applicant to be eligible to apply for a loan, they will need to check their credit score.
The minimum credit score is 640 for borrowers to be eligible. There are competing lenders that have reasonable interest rates that allow for lower credit scores.
For example, Upgrade’s minimum score is 620, and LendingClub’s minimum score is 600–and both have better customer reviews on the Better Business Bureau’s (BBB) website.
Most loans from Reliable Credit require that the borrower put up some sort of collateral–like a motorcycle, recreational vehicle, automobile, boat, trailer, or another similar consumer asset.
What personal loan APRs do Reliable Credit Personal Loans offer?
Reliable Credit Personal Loans offers a personal loan product but they do not disclose their rates.
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 information in your credit history with these credit monitoring tools.
How Much Can You Borrow Via Reliable Credit Personal Loans?
Loan amounts start at $1,000.
What Personal Loan from Reliable Credit Personal Loan be used for?
They typically use a personal loan from Reliable Credit Personal loans for special purchases, debt consolidation, home improvement projects, weddings, unexpected expenses, or similar purposes.
What is the Maximum Loan Term You Can Get with Reliable Credit Personal Loan?
Reliable Credit Personal Loan offers personal loans with terms ranging from 12 to 24 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.
|Loan Amount||Starting at $1000|
|Loan Term||12 – 24 months|
Does Reliable Credit Personal Loans Charge an Origination Fee?
Reliable Credit Personal Loan charges a loan origination fee.
Does Reliable Credit Personal Loan charge prepayment fees?
No, Reliable Credit Personal Loans do not charge prepayment fees.
This means you will not have to pay additional fees if you decide to pay the loan off early.
|Late Payment Fee||N/A|
Applicants with a credit score of at least 640 and up to 750 may be eligible for Reliable Credit Personal Loans.
Reliable Credit Personal Loans does not have or does not disclose a minimum annual income eligibility requirement. Note that borrowers can add a cosigner to either meet eligibility requirements or qualify for lower interest rates.
What do You Need to Qualify for a Loan With Reliable Credit Personal Loans?
Applicants with a credit score of at least 640 can apply for a loan via Reliable Credit Personal Loan.
Active-duty servicemembers and their covered dependents are eligible to apply for a loan via Reliable Credit Personal Loan.
Their rates fall within the limits of The Military Lending Act.
|Bank Account Required?||No|
|Joint Applications Accepted?||Yes|
|Credit Score||640 – 750|
What is the Estimated Funding Time for a Personal Loan Via Reliable Credit Personal Loans?
Reliable Credit Personal Loan will typically provide a credit approval decision in less than an hour and fund the loan within 7 business days.
Basic Information: Rates, Terms, Fees, and Limits
The rates and fees that each individual borrower gets with Reliable Credit depend on several factors, including the structure of the loan, the borrower’s credit score, and any applicable laws in the different jurisdictions.
If you are an active duty service member (or one of their covered dependents), then your rates with Reliable Credit will be set within the limits of The Military Lending Act.
The minimum amount for a personal loan from Reliable Credit is $1,000 with loan terms between 12 months and 24 months.
Reliable credit charges no prepayment fee. This lender charges a loan origination fee and a late payment fee.
As for interest rates, the lender website doesn’t supply figures–but some customer reviews show they can be higher-than-average.
The major benefit of Reliable Credit’s lending solution is that it allows people who have a low credit score access to a loan. It is a lender that may give people a chance while lenders with lower rates might not.
There’s a potential for high-interest rates if you borrow from Reliable Credit.
Another downside is that, while many online lenders can give you a quote in minutes, Reliable Credit can take up to seven days.
Reliable Credit has gotten unfavorable customer reviews.
While this lender scored an A+ rating from the BBB, its reviews on that site are mostly bad – with eight negative reviews and three positive reviews.
On the same site, there are 20 customer complaints filed against this company – 13 billing complaints and seven related to the product.
Some customers complained about overcharges that couldn’t be refunded directly to their accounts–leaving them waiting for a refund to arrive.
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