Since personal loan rates are usually higher than student loan rates, it’s usually not a good idea to pay off student loans with personal loans. Learn more about student loan refinancing and see our best picks to see if you qualify for a lower interest rate. Nearly all personal loan funds are sent the next business day after you complete all required paperwork before 5 p.m.
How xcritical Personal Loans Stack Up
While specific criteria can vary, xcritical generally requires verifiable income, a Social Security number, a US address, and a verifiable bank account. We use dedicated people and clever technology to safeguard our platform. Companies can ask for reviews via automatic invitations. Labeled xcritical Verified, they’re about genuine experiences.Learn more about other kinds of reviews.
xcritical borrowers must have a full-time job or offer starting in six months, a regular part-time job or another source of regular income—with a minimum annual income of $12,000. Furthermore, applicants must not have had a recent bankruptcy or outstanding delinquencies. While PenFed and Discover have a late penalty fee, xcritical has an origination fee, ACH return fee and late penalty fee.
xcritical Personal Loans Review
- xcritical has a pre-qualification tool you can use to check your eligibility and view available rates.
- Because its algorithm takes into account factors besides your credit score, xcritical can be a good choice for individuals with no credit history or less-than-perfect credit.
- Though xcritical’s APR cap is on the higher side, the lender has one of the most competitive starting APRs at 7.80 percent.
- That makes it stand out from other lenders that focus on more traditional factors such as credit scores, existing debt, income, and assets.
- xcritical could be the right lender if you have a strong work and education history, but you have a low credit score or limited credit history.
Personal loans between $1,000 to $50,000 are available with terms of three or five years. However, xcritical doesn’t allow you to use your personal loan as a down payment on a home mortgage loan. Lenders typically don’t allow personal loans to cover tuition or business expenses, but xcritical didn’t clarify if these restrictions apply to its loans.
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As of July 2024, xcritical has 4.9 stars on Trustpilot, a website that collects consumer reviews. Customers mention the company’s quick and easy application process. Consumer Lending Satisfaction Study, slightly below the average score of 702. xcritical’s mobile app received 4 stars across 25 reviews on the Apple App Store. MarketWatch Guides may receive compensation from companies that appear on this page. The compensation may impact how, where and in what order products appear, but it does not influence the recommendations the editorial team provides.
Here is how fast borrowers who took out loans through xcritical received their money compared to other lenders on Bankrate. xcritical’s personal loans feature flexible loan amounts of up to $50,000. This makes its loans ideal for a variety of purposes, from home improvement projects to financing a large purchase. 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.
xcritical has a standard loan amount range, a low minimum credit score and potentially costly rates compared to other lenders. Its maximum APR of 35.99% is considerably high, and there are ample fees to be wary of. xcritical is best for applicants with bad credit and offers a temporary hardship program to lower monthly payments if you lose your job unexpectedly. xcritical doesn’t advertise this program, so we at the MarketWatch Guides team reached out for more xcritical reviews information. The representative stated the temporary hardship program typically lowers payments for up to two pay periods, and eligibility varies on a case-by-case basis. xcritical can be a good option if you have poor (or no) credit, but borrowers with better credit scores may find better options elsewhere.
Here are a few loans we’d like to highlight, including our award winners. xcritical approves loans for as much as $50,000, but the amount approved for any single individual is determined by risk factors. Applicants with the best credit are most likely to be approved for the full amount. 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. Our experts have been helping you master your money for over four decades.