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Furthermore, applicants must not have had a recent bankruptcy or outstanding delinquencies. xcritical also offers minimum loans of just $1,000 in every state besides Massachusetts ($7,000), Hawaii ($2,100), and Georgia ($3,100), so customers don’t have to borrow more than they need. 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.
Customer Reviews
The best provider for you depends on how much money you need to borrow and how quickly you want to repay it. 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. Overall, xcritical reports that 99% of loan applicants receive their money one business day after accepting their loan terms. Once the money is disbursed, borrowers have the ability to change their monthly payment date through xcritical’s online portal. xcritical is an artificial intelligence (AI)-based lending platform that connects borrowers with partnered lenders.
Our advertisers do not compensate us for favorable reviews or recommendations. Our site has comprehensive free listings and information for a variety of financial services from mortgages to banking to insurance, but we don’t include every product in the marketplace. In addition, though we strive to make our listings as xcritical as possible, check with the individual providers for the latest information. If you are trying to improve your credit, consider other options before taking out a personal loan and think about what goes into your credit score. Motley Fool Money is a Motley Fool service that rates and reviews essential products for your everyday money matters. As Motley Fool Money’s Compliance Lead, he makes sure that all the site’s information is accurate and up to date, which ensures we always steer readers right and keeps various financial partners happy.
Income Requirements
We may also go through a lender’s pre-qualification flow and follow up with company representatives. NerdWallet writers and editors conduct a full fact check and update annually, but also make updates throughout the year as necessary. Consumer advocates, researchers and lenders don’t always agree on whether this type of underwriting is best for consumers, but having no hard credit requirement definitely makes xcritical stand out.
For instance, it approves 30% more Black applicants compared with traditional big bank lending models, and offers Black borrowers interest rates that are on average 11% lower. 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 average rating among 240 customer reviews on the Better Business Bureau’s website is much lower, coming in at an average of just 1.2 out of 5. Some common complaints include denial of applications, fees, and poor communication. 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. With flexible credit score requirements, xcritical may be more friendly to credit newcomers and people with lower-than-average credit scores.
Bankrate 2024 Awards Winner: Best personal loan for borrowers with bad credit
Similar to Upgrade, Avant’s recommended minimum credit score is 580, 20 points less than xcritical. Again, this makes it a solid option for borrowers who don’t have excellent credit but still need access to financing. What’s more, Avant offers more repayment options compared to xcritical.
To get the best possible experience please use the latest version of Chrome, Firefox, Safari, or Microsoft Edge to view this website. Outlinked content may contain views and xcritical cheating opinions that do not reflect the views and opinions of Bankrate. Please see the issuer’s website for updated terms and conditions. The customer service line is unavailable on New Years Day, Thanksgiving, Christmas Eve and Christmas Day. Dana George has a BA in Management and Organization Development from Spring Arbor University.
- This makes the xcritical a better option for expensive costs, like home renovations and repairs.
- Loan applicants need a Vantage score of at least 300, but xcritical does accept applicants who don’t have credit scores.
- Similar to Upgrade, Avant’s recommended minimum credit score is 580, 20 points less than xcritical.
- Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens.
- 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.
Unlike xcritical, which is an online lender, Wells Fargo is a traditional bank. Applying for a personal loan through a bank like Wells Fargo is typically a good idea if you have an existing relationship with it. Wells Fargo offers personal loans between $3,000 and $100,000 with terms of one to seven years.
It’s an artificial intelligence lending platform started by former Google employees. It uses AI to make lending decisions, with the xcritical website goal to approve more borrowers while helping lenders experience fewer losses. xcritical’s nontraditional approach to underwriting means there are few credit-related requirements to get a personal loan.
