BadCreditLoans.com 2023 Review
BadCreditLoans.com Overview
Since 1998, BadCreditLoans.com has connected borrowers with bad credit to a network of online lenders. This free service allows you to receive unsecured short-term loans for emergencies at any time regardless of your credit score. Our BadCreditLoans.com review will break down what you need to know.
BadCreditLoans.com Pros
- Multiple services: BadCreditLoans.com offers additional services besides from personal loans by helping consumers find credit cards, business loans, car loans, student loans, and mortgages.
- Protects your personal and financial information: Your personal information is kept safe by BadCreditLoans.com's industry-standard SSL encryption technology.
- No loan request fee: Using the BadCreditLoans.com service is 100% completely free.
- Fast decision: You can receive a loan decision in just a matter of minutes.
- You can receive your funds in as little as one business day.
- Educational resources: BadCreditLoans.com has a series of articles with extra information on financial topics to help you navigate your financial needs.
- BadCreditLoans.com provides 24/7 service.
BadCreditLoans.com Cons
- Depending on your state of residence, you may not be eligible for BadCreditLoans.com's loan marketplace services.
- Once you submit your information, you agree to release it to their network of lenders who can then contact you through phone, email, or mail. Many applicants stated that they received offers from lenders even after they had chosen one.
- BadCreditLoans.com lacks BBB accreditation.
- Interest rates can be high. We recommend not taking any loans over 35.99%.
How does BadCreditLoans.com work?
BadCreditLoans.com isn’t a lender itself. Instead, it works like a loan marketplace, matching borrowers with lenders based on the details the borrower provides.
When you apply for a loan through BadCreditLoans.com, you’ll offer information such as how much you’d like to borrow, your credit rating, and your income. BadCreditLoans reviews the information that you provide and then selects a few of its partner lenders that tend to work with borrowers that fit your financial profile.
Each lender will give you a loan offer to review and you can decide which offer you like best. If you choose to move forward with a lender, you’ll complete the application process on that lender’s website and the lender will fund your loan.
Products Offered
BadCredtLoans.com offers loans in amounts from $500 to $10,000. Whether you need a quick payday loan or a small personal loan, there are loans available to you.
You can select how much you’d like to borrow on the website’s home page. BadCreditLoans will automatically match you with the correct lender depending on the amount you’re looking to borrow.
Payday Loans
- Amount: $500+
- APR: Varies by lender
Personal Loans
- Amount: $500 - $10,000
- APR: Varies by lender, usually 5.99% - 35.99%
BadCreditLoans.com - How to Qualify?
BadCreditLoans.com doesn’t offer loans directly to customers. Instead, it matches customers with other lenders. That means that BadCreditLoans doesn’t have direct control over things like minimum qualification requirements.
To give yourself the best chance of getting a loan from BadCreditLoans, you’ll want to do the same thing that you’d do when applying for any other loan.
First of all, your credit score plays a big role in your ability to get a loan. BadCreditLoans is targeted at people who may not have the best credit scores, but that doesn’t mean that you can’t try to boost your score a bit. The higher your credit rating, the better your odds of approval the cheaper your loans will tend to be.
You also have to consider your current financial situation. Your income and current debt can also impact your chances of approval. The less you owe and the more you make, the more appealing you’ll be to lenders.
The one financial requirement that BadCreditLoans publishes is that you must have a steady source of income to qualify.
**BadCreditLoans.com - How to Apply? **
Submitting a request for a loan through BadCreditLoans.com is simple and a loan decision only takes a few minutes.
To see if you can be connected with BadCreditLoans.com's trusted lender partners, you only have to fill out a form online with some of your basic information and documentation that includes:
- Your name
- Contact information
- Date of birth
- Social Security number
- Credit score (even though there are no minimum credit requirements)
- The loan reason and amount requested
- Bank account information
- Employment and income information, whether it’s from a job, disability, or Social Security benefits
- Photo ID information from your driver’s license or passport
Once you submit your information, BadCreditLoans reviews your details and matches you with lenders. Those lenders will give you an overview of the loan terms, rates, payments, and fees offered. You can choose which lender you’d like to move forward with.
If you choose to follow through with a lender, you can sign your loan agreement with an electronic signature and your funds can be directly deposited into your checking account in as little as one business day, depending on how quickly your bank handles transactions.
Terms and Requirements
BadCreditLoans.com makes it easy to qualify for a loan. The only requirements to have a chance of qualifying are:
- Be a US citizen or permanent resident
- Be at least 18 years of age
- Have a valid checking account in your name
- Have a source of steady income
BadCreditLoans.com Pricing
- Using BadCreditLoans.com's loan request form is free.
- BadCreditLoans.com’s lenders offer loans between $500 and $5,000.
- APRs range from 5.99% to 35.99%.
- Repayment terms range from 3 to 36 months.
- All loans are unsecured and do not require any collateral.
- Your loan interest rates and fees depend on your lender. Most lenders will charge a financing fee and late fees for any missed payments.
For Whom BadCreditLoans.com is Good?
BadCreditLoans.com, like its name implies, primarily targets people who have less than stellar credit. Because the site tries to match you to lenders based on your financial profile, it gives you a good chance of qualifying for a loan, even if you don’t have a great credit score.
If you’re looking to borrow $10,000 or less and have had trouble qualifying for a loan from other lenders, BadCreditLoans.com might be a good choice for you.
BadCreditLoans.com Alternatives
BadCreditLoans.com is just one of many websites that matches borrowers with lenders based on their credit and financial profiles. If you’re in the market for a personal loan, consider these alternatives.
Summary
BadCreditLoans.com is a free online service that connects borrowers with bad credit to a network of lenders in order to fund short-term loans for emergencies. While we like their large option of lenders, we would advise potential borrowers to steer clear of any interest rates higher than 35.99%.
Contact BadCreditLoans.com
Phone: 800-245-5626 Email: [email protected] Address: BadCreditLoans.com 2661 N Pearl St. #431 Tacoma, WA 98407
Frequently Asked Questions
How does BadCreditLoans.com compare to other lenders and marketplaces?
The BadCreditLoans.com marketplace is unique in the fact that they do not have a minimum credit score requirement and they specifically offer loan products to consumers with bad credit.
How do I know if I qualify for BadCreditLoans.com?
Individuals who are eligible for BadCreditLoans.com must be a US citizen, over 18 years of age, have a valid checking account, and a steady source of income. Guidelines for specific lenders may vary.
Is BadCreditLoans.com safe to use?
Yes. BadCreditLoans.com is a legitimate online lending service that uses industry-standard encryption technology to protect your personal and financial information.
What are BadCreditLoans.com's business hours?
BadCreditLoans.com can be contacted 24/7 at any time day or night.
Is BadCreditLoans.com legit?
Yes, BadCreditLoans.com is a legitimate company that matches people with lenders based on their credit profiles.
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