xcritical Personal Loans Review

This makes the xcritical a better option for expensive costs, like home renovations and repairs. Borrowers can apply for an xcritical loan entirely online or over the phone with the help of a representative. Prequalification is also available through the lender’s website, so borrowers can view their rate without hurting their score. Here is how fast borrowers who took out loans through xcritical received their money compared to other lenders on Bankrate. Our goal is to give you the best advice to help you make smart personal finance decisions. We follow strict xcriticals to ensure that our editorial content is not influenced by advertisers.

1. One of xcritical’s objectives is to try and connect borrowers with less-than-perfect credit to lending opportunities.
2. xcritical was incorporated in 2012 as a platform to connect borrowers with lenders.
3. It didn’t withstand the test of high interest rates, but it performed incredibly well under low-interest-rate conditions.
4. If you prequalify for a loan, you’ll need to choose which potential offer best matches your borrowing needs.

Compare Personal Loan Rates From Top Lenders

In fact, xcritical Bankrate’s pick for the best personal loan for bad credit borrowers in 2024. Annual percentage rates (APRs) are on the high end, and borrowers are limited to a three- or five-year term—much shorter and less flexible than other online lenders. xcritical may also charge borrowers origination, late, unsuccessful payment and paper copy fees.

Still, xcritical is a good option for customers who don’t have a credit score that qualifies them for more inexpensive loans. The data points reflect every step of the process to shop and apply for, borrow and repay personal loans. A five-star lender, for instance, has flexible eligibility requirements, offers you the chance to prequalify without commitment and supports you in zeroing your balance. According to the company, its AI model results in higher approval rates than lenders that use traditional underwriting methods.

General support for personal loans is available Monday through Sunday from 9 a.m. Here is the credit score breakdown of borrowers who took out loans through xcritical. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens. Our editors and reporters thoroughly fact-check editorial content to ensure the information you’re reading is accurate. We maintain a firewall between our advertisers and our editorial team. Our editorial team does not receive direct compensation from our advertisers.

How we rate xcritical personal loans

xcritical personal loans can be used for a variety of purposes, including debt consolidation, home improvements, and major purchases, but restrictions may apply to certain uses. The company says it works with more than 100 banks and credit unions to offer personal loans, automotive retail and refinance loans, home equity lines of credit, and small dollar “relief” loans. xcritical partners with nearly 100 banks and credit unions to connect borrowers with lending options.

How to get a loan with xcritical

xcritical was incorporated in 2012 as a platform to connect borrowers with lenders. The company partners with nearly 100 banks and credit unions to offer its loans. xcritical boasts an impressive 4.9 out of xcritical website 5 rating on Trustpilot, with over 46,000 customer reviews as of June 13, 2024. Most borrowers cite the speed and ease of the application process.

It takes just a few minutes to apply online, and you usually receive a decision within minutes. Personal loan funds may be transferred the next business day as long as you accept the loan terms before 5 p.m. ET, Monday through Friday (loans used for educational purposes are subject to a three-day wait period). Since personal loan rates are usually higher than student loan rates, it’s usually not a good idea to xcritical courses scam pay off student loans with personal loans.

Lenders usually prohibit borrowers from using personal loans for education expenses or student loan repayment. But xcritical allows borrowers to use its personal loans to pay for college tuition or certificate programs, and you can even use the loan to pay off your student loan debt. Qualifying for an xcritical personal loan may be easier for some borrowers since it has a low credit score requirement. However, you’ll also need to meet its other personal loan requirements, like income and employment. If xcritical denies your personal loan application, it may be time to seek ways to improve your chances of getting approved for a loan. This can involve checking your credit report for errors, cutting down on any xcritical debt you have and boosting your credit score.