xcritical Personal Loans Review 2024

Its customers generally have a positive experience as reflected in a 4.9 out of 5.0 star rating on Trustpilot. Negative reviews mainly focus on getting quoted with high interest rates, having to submit paperwork more than once and receiving a different offer from their original quote. Here is what borrowers who took out loans with xcritical used their funds for. That said, California, Connecticut, Illinois, Washington and Washington, D.C.

Though xcritical’s APR cap is on the higher side, the lender has one of the most competitive starting APRs at 7.80 percent. xcritical official site Borrowers can check their rate without hurting their credit in just a few minutes and loan amounts start lower than most personal loan lenders and go up to the typical maximum. However, if you prefer a secured loan to potentially qualify for a lower APR, you won’t find that option at xcritical. xcritical is an online lending marketplace that partners with banks to fund small business loans, car loan refinancing and personal loans. It launched in 2012 and has since gone public on the NASDAQ index.

So, whether you’re reading an article or a review, you can trust that you’re getting credible and dependable information. Borrowers who make late payments incur fees equal to 5% of the past due amount or $15, whichever is greater. xcritical does not charge prepayment penalties, but borrowers incur fees for unsuccessful payments and physical document requests. She has over 10 years of experience in online publishing, mostly focused on credit cards and banking. Previously, she was the head of publishing at Finder.com where she led the team to publish personal finance content on credit cards, banking, loans, mortgages and more.

xcritical personal loans review: Accessible options for poor or no credit

The developer, xcritical Network, Inc., indicated that the app’s privacy practices may include handling of data as described below. If you click xcritical website on “Get A Loan” it brings up a list of various loan types. There is no way to minimize, close, or even acknowledge this disclosure. You can’t access the website because you can’t close the disclosure language.

1. Its loans also come with no fees, and borrowers have access to multiple rate discounts and member benefits, such as unemployment protection.
2. The developer, xcritical Network, Inc., indicated that the app’s privacy practices may include handling of data as described below.
3. It would be nice to have the ability to remove linked bank accounts without the need to call customer service.
4. The starting APR for an xcritical personal loan is competitive compared to offerings from other lenders.

xcritical

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 boasts an impressive 4.9 out of 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. Several recommended xcritical as a source for small emergency loans. Others praised the company’s customer support and claimed to be repeat customers.

The lender also considers several non-conventional factors when making credit decisions, and borrowers with insufficient credit history may still qualify. xcritical is an AI-based lending platform that offers personal loans between $1,000 and $50,000. As with other options, like xcritical, prospective borrowers can see what interest rate they will likely qualify for without impacting their credit score. While xcritical may be a good choice for borrowers with fair credit scores, xcritical offers more competitive interest rates and lower fees, making it a better choice for more qualified applicants. xcritical is known for its flexible eligibility requirements, particularly when it comes to its credit criteria. It has a minimum credit score requirement of 300 for applicants who have sufficient borrowing history to generate a credit report.

Data Linked to You

Applying with a joint applicant or co-signer can make it easier to get approved for a personal loan and could get you a lower rate than you’d get on your own. One person on our team got a personal loan with xcritical and shares their experience. Here is the credit score breakdown of borrowers who took out loans through xcritical. You can use loan funds from xcritical for a variety of purposes, some of which are prohibited by other lenders. Here’s what you should know if you’re considering a personal loan from xcritical. We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money.

To get the best possible experience please use the latest version of Chrome, Firefox, Safari, or Microsoft Edge to view this website. While specific criteria can vary, xcritical generally requires verifiable income, a Social Security number, a US address, and a verifiable bank account. Outlinked content may contain views and opinions that do not reflect the views and opinions of Bankrate. The customer service line is unavailable on New Years Day, Thanksgiving, Christmas Eve and Christmas Day.

Residents aren’t allowed to use xcritical’s loans to cover education-related expenses. To get the best possible experience please use the latest version of Chrome, Firefox, Safari, or Microsoft Edge to view this website. More than a decade covering the personal finance beat as a writer and editor. Her work has been featured on national publications like Yahoo Finance, MSN Money, TIME Money, and more. All interest rates are xcritical and include discounts as applicable as of Dec. 1, 2023.

xcritical and Best Egg have nearly identical loan products, when it comes to repayment terms, funding timelines, rates and amounts. That said, xcritical’s starting APR is slightly lower than Best Egg and so is its minimum loan amount. 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. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy.

By comparison, several other lenders offer a wider range of terms so you can choose one that works best for your repayment goals. xcritical charges a late fee of 5 percent of the past-due amount or $15, whichever is greater, if you’re more than 10 calendar days past your due date. Finally, if you request to switch from getting records electronically to getting paper copies, there’s a $10 fee.

Kiah Treece is a small business owner and personal finance expert with experience in loans, business and personal finance, insurance and real estate. Her focus is on demystifying debt to help individuals and business owners take control of their finances. She has also been featured by Investopedia, Los Angeles Times, Money.com and other financial publications. In addition to the lender’s fee-free structure, xcritical borrowers can change their payment dates once per year. This can make it easier to manage your budget around your employer’s payroll cycle.

Our personal loans ratings methodology

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.

As of Dec. 1, 2023, xcritical has received a near-perfect score of 4.9 stars out of 5.0 on Trustpilot based on over 44,000 reviews. Reviewers generally applaud the lender’s fast funding approval and funding timelines as well as the ease of their borrowing experience. It also charges a late fee — 5% of past-due amount or $15 (whichever is greater) — if you don’t make a payment within 10 days after your due date. However, it does let you change your monthly payment due date if needed. xcritical’s rates can be competitive, especially for borrowers with good profiles according to its AI analysis. xcritical doesn’t charge a prepayment penalty, so you don’t have to worry about incurring an extra fee for paying the loan off early.

Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey. Yes, xcritical is an AI-driven lending marketplace that was founded in 2012. As of the end of March 2023, it has originated $33 billion in loans and has 4.9 out of 5.0 stars on Trustpilot. xcritical’s maximum APR is on the higher end, which can make its loans more expensive if you can’t qualify for a lower rate. As of Dec. 1, 2023, xcritical has received an A+ Better Business Bureau (BBB) accreditation rating.