Achieve Reviews

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About Achieve

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Established in 2002, Achieve, formerly known as FreedomPlus, is an online financial institution that provides flexible and tailored personal loans and home equity lines of credit (HELOCs). Both are designed to help you get out of debt, though individuals can still pursue either product for financing major purchases. It also offers debt resolution services to help you reduce what you owe.

Pros & Cons

  • Co-borrower allowed
  • No prepayment penalty
  • Strict credit requirements
  • Not available in all states

Our editor’s take on Achieve

Debt happens, and companies like Achieve can make it easier to get a handle on your debt situation without hurting your finances further. Achieve is good for individuals who want to streamline their debt repayments through a personal loan or HELOC.

We appreciate that Achieve’s goal is to help consumers with debt and put them in a better financial position. For its HELOCs, it says it will save consumers at least $200 a month on their existing high-interest debt payments.

If you have a lower credit score, Achieve might not be the best option for you, since you will need to have at least a 620 credit score for personal loan requests (and 640 for HELOCs). However, it does allow co-borrowers with sufficient income, which can help improve your chances of approval and getting the best rate.

Achieve products

Achieve requirements

Achieve requirements will vary depending on whether you apply for a personal loan or HELOC. Both products require you to:

  • Be 18 years of age or older
  • Have a minimum credit score of 620 for personal loans and 640 for HELOCs
  • Have proof of sufficient income
  • HELOC borrowers need to have sufficient equity built up in their homes

For its debt resolution services, Achieve Resolution will require you to stop paying your creditors to establish hardship and instead pay monthly into a savings account that will be used to negotiate your debt repayment. This is the typical procedure for debt settlement companies.

Achieve rates

Achieve publishes all of its rates and fees online, making it simple to understand the possible costs before requesting a free estimate. At the time of publishing, Achieve’s products and services have the following rates:

  • 7.99% to 35.99% for personal loans
  • 10.25% to 17.00% for HELOCs
  • 15% to 25% for debt resolution, depending on your state

How does Achieve compare?

Achieve offers competitive rates on its personal loans, HELOCs and debt resolution services. Additionally, Achieve’s debt resolution comes with a guarantee that you will not pay more than the amount of your enrolled debt with the cost of fees. Several debt resolution companies do not offer this guarantee.

The one area where Achieve doesn’t outperform its competitors is that the minimum personal loan amount is $5,000, while other lenders, like Best Egg, have loan minimums starting at $2,000.

Achieve FAQ

What is Achieve?

Achieve is an online financial company that offers loans, HELOCs and debt resolution services. It also has a free debt payoff app that allows you to track where your money is going.

Will using Achieve hurt my credit score?

Using an Achieve personal loan or HELOC will not hurt your credit score as long as you make on-time payments. You might experience an initial ding from having your credit pulled, but ultimately using Achieve to repay credit card debt will benefit your credit score. Using Achieve to resolve your debt can have weightier credit score consequences, and you should speak with an Achieve representative to better understand the process.

Can I have a co-borrower for an Achieve loan?

Yes, you can have a co-borrower with Achieve. Having a co-borrower with sufficient income on an Achieve loan can help improve your chances of approval and get you a better rate.

Is Achieve legit?

Yes, Achieve is a legitimate company that has been around for over two decades. According to its website, it has helped customers resolve over $15 billion in debt and given out more than $7.5 billion in loans since 2002.

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