Established in 1998 and serving customers for over 22 years, badcreditloans.com connects borrowers with less than stellar credit with a big network of online lenders. So, if you are already searching through BadCreditLoans.com reviews to develop a good understanding of how it works and what it offers, then you have come to the right place.
Among all the BadCreditLoans.com credit reviews from 2020, this review will provide you with the most useful facts. One of the oldest of the online personal loan providers, the company offers a variety of loans that you can obtain to meet your financial challenges. No matter whether it’s a personal or business loan, home loans, college loans, mortgage loans, or auto loans, you can get them all under one roof.
This platform is best for people and business owners with bad credit, who want to obtain loans to cope with their financial commitments efficiently.
In this review, we’ll discuss:
- Everything that you need to know about BadCredit personal loans
- Eligibility criteria
- How to apply for a loan
- Pros and cons
- FAQs
What Do You Need to Know About BadCreditLoans.com Personal Loans?
The company realizes that financial emergencies often occur when least expected. In such a situation it is difficult for people, especially those who have bad credit, to get funding from banks or other loan institutions. This is where BadCreditLoans.com comes into the picture. It gives people with poor credit the opportunity to apply for personal loans and get access to funds quickly. So, if you’re struggling to solve a pressing financial crisis, then BadCreditLoans.com may be a good way to obtain a personal loan.
Here is a summary of everything related to BadCreditLoans.com funding. It will provide you with a good understanding of how their loans work.
- Expected Loan Amount – The minimum is $500, and the maximum is $10,000
- Annual Percentage Rate (APR) – Minimum 5.99%, and maximum 35.99%
- Typical approval time – The online loan request for a personal loan usually takes less than 5 minutes. After that, it only takes a few more minutes for your loan request to be processed
- Monthly Payment – Variable, depending on the lender
- Typical funding time – Rapid disbursement. The exact time varies from lender to lender
- Loan Term – 3 to 60 months
- Types of interests – The loan interest rate and fees depend on the lender
- Unsecured or Secured – All loans offered are unsecured personal loans, which means no collateral is required
- Fees and Penalties (origination fee; prepayment penalty, late payment penalty, returned payment fee)
✓ Origination Fee – Free
✓ Prepayment Penalty – N/A
✓ Late Payment Penalty – N/A
✓ Returned Payment Fee – N/A
What are BadCreditLoans.com’s Personal Loan Eligibility Criteria?
As compared to its competitors, BadCreditLoans.com loan requirements are fairly simple and minimal. The preliminary requirements include:
✓ You must be a permanent US resident or citizen
✓ You must be at least 18 years of age or above
✓ You must have a valid bank account opened in your name
✓ Although there is no income threshold, you must have a steady income source
How to Apply For a Personal Loan with BadCreditLoans.com?
Now here’s the BadCreditLoans.com application process review. The good thing is that it is 100% online and free. More importantly, the process takes hardly 5 minutes and is as simple as it gets.
Here’s a step-by-step guide on how to apply for a personal loan with BadCreditLoans.com:
Step 1. Log on to their official website badcreditloans.com
Step 2. Next, click on the tab ‘Get started’
Step 3. Now a simple loan request form will appear on your screen
Step 4. Fill in the details as requested such as:
✓ Amount Requested
✓ Credit Type
✓ Loan Reason
✓ First and Last Name
✓ Birth Date
Here it is important to note that your loan reason doesn’t make you more or less qualified for the loan. They only ask you to provide you with better results. Once you fill the details, go on to step 2.
Step 5. Now provide them with your latest contact information
Step 6. On the same page, you will be asked to provide employment information along with identity and bank information. Please complete the form correctly to move on to the next stage.
Step 7. Provide accurate deposit information and answer a few questions
Step 8. Now enter your phone number to get SMS alerts and submit the form if you agree to their terms and conditions as stated. It is advisable to read them carefully before you submit the form. Yes, even the fine print.
Step 9. Once you submit your form, BadCreditLoans.com will connect you with lenders. Compare your best deals to make the right selection. As you make your pick, simply agree to their terms and conditions to authenticate your loan online.
Pros & Cons
We’re aiming to provide you with a legit BadCreditLoans.com review, so you can evaluate whether or not they are a good option for you. In this section, we’ll walk you through the company’s pros and cons, so read on to find out what are the advantages and disadvantages of using their services.
Pros
- The loan request is free – You can apply and request a loan absolutely for free. There are no charges.
- Speedy and simple application process – The application process is swift and may be completed within 5 minutes.
- Fast decision – Once you apply, you can receive multiple offers from potential lenders in minutes.
- Access to educational resources – The company offers a series of in-depth articles on a variety of financial topics.
Cons
- The company is not BBB accredited
- Their annual percentage rate is high starting from 5.99%
BadCreditLoans.com Alternatives
If you want to work with a BBB accredited company, then your possible alternative could be Upgrade. It provides the same type of services and has an ‘A’ rating with the Better Business Bureau. However, their annual percentage rate is higher than BadCreditLoans.com. It is 6.99%.
Don’t worry! Another good alternative for you may be Guide to Lenders. The company offers personal loans with an APR starting from 4.99%. Also, the company is rated ‘A+’ by the Better Business Bureau.
Privacy & Security Policy
The company uses advanced encryption technology. Rest assured, your personal and financial information are safe with them. Furthermore, to protect the borrowers’ personal information from unauthorized access or use, BadCreditLoans.com uses security measures that comply with the applicable law, including computer safeguards and secured files and buildings.
Wrap Up
Obtaining a loan with poor credit can be hard but not when you apply through BadCreditLoans.com. The company is dedicated to helping borrowers with bad credit find good personal loan offers with the best rates and terms through their wide network of lenders. With BadCreditLoans.com, you can apply for a personal loan in less than 5 minutes. Shop and compare offers to make your selection and get the funds disbursed to your account. The process is quick, convenient, and simple.
FAQs
Can I refinance my personal loan?
As the answer to this question is unavailable on their website, you may have to contact their helpline. Connect with their customer service representative available 24×7 to find out if refinancing is possible on your personal loan.
What can I use BadCreditLoans.com’s personal loan for?
You can use your personal loan for a variety of purposes. These include:
- Debt consolidation
- Auto purchase
- Auto repair
- Moving expenses
- Medical expenses
- Business expenses
- Vacations
- Paying taxes
- Paying for a large upcoming expense
- Covering emergencies
Can I get a personal loan online?
Yes. From loan application to approval, the entire process is online and 100% free.
Who is BadCreditLoans.com’s personal loan best for?
BadCreditLoans.com’s personal loans are ideally designed for people struggling to obtain loans with bad credit. Therefore, if you have bad credit and can’t qualify for traditional funding, it might be a good idea to seek a personal loan with BadCreditLoans.com.
There is no minimum credit score you need to apply. All credit situations are accepted by them. However, the higher your credit score the better loan offers you’re likely to receive.
In order to be sure that you’re getting the best rate and terms, we recommend that you take a look at BadCreditLoans.com reviews (including ours) and decide what kind of loan term and repayment plan works best for you before you apply for a personal loan.
Is BadCreditLoans.com BBB accredited? What is its rating?
No. It is not accredited by BBB. The company still needs to get accreditation from BBB to build credibility.
