Balance Credit
AUTHORIZED PARTNER

Balance Credit

 4.3/5 (100 ratings)
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Balance Credit

About Balance Credit

Balance Credit is an unsecured loan provider that specializes in installment loans. With Balance Credit, you can qualify for a loan up to $5,000, depending on the state you live in, and receive funds in as little as one business day.

Overall Satisfaction Rating

  • 5 stars
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Pros

  • No prepayment penalties
  • No application fee
  • Funds as soon as one business day

Cons

  • Max loan amounts vary by state
  • Limited availability

Bottom Line

Balance Credit offers installment loans up to $5,000. Balance Credit doesn’t charge prepayment or application fees, making it a solid option for consumers who want an alternative loan.

What is Balance Credit?

Balance Credit is an online personal loan provider that offers services for those in search of installment loans. Balance Credit’s loans are unsecured, which means they don’t require collateral. These loans can provide an alternative to payday loans, which are typically for smaller amounts.

Balance Credit doesn’t charge application or prepayment fees, and you can receive funding in as little as one business day, depending on when you’re approved for a loan. Balance Credit’s loans are only available in 12 states.

How does Balance Credit work?

If you’re interested in applying for a personal loan with Balance Credit, visit its website and start filling out your application. Balance Credit starts by determining your eligibility by asking you for personal information like:

  • Your address
  • Your employment status
  • The intended purpose of your loan
  • Your Social Security number
  • Your date of birth

If Balance Credit approves your application, you’ll receive your funds by direct deposit as soon as the next business day.

Balance Credit rates

Balance Credit’s loan rates vary depending on the state you live in and the amount you need. Other key factors that can affect your loan rates include:

  • Your credit score
  • Your employment status
  • The purpose of your loan

To see your personal interest rate, visit Balance Credit's website and fill out an application.

Balance Credit FAQ

Is Balance Credit a direct lender?

Balance credit is a direct lender in some states. In other states, it connects borrowers with lending partners.

Does Balance Credit charge an origination fee?

No, Balance Credit doesn’t charge origination fees on its loans. You can view the full disclosure of your loan payments in your loan agreement.

Where is Balance Credit available?

Balance Credit is only available in twelve states: Alabama, Delaware, Idaho, Illinois, Mississippi, Missouri, New Mexico, North Dakota, South Carolina, Texas, Utah and Wisconsin.

Is Balance Credit legit?

Yes, Balance Credit is a legitimate company that can help you get quick funds if you’re in a pinch. While the company has limited availability and higher APRs than traditional lenders, Balance Credit is worth researching if you need a quick alternative to a payday loan.

Balance Credit Reviews

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Page 1 Reviews 0 - 5
Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Aug. 27, 2022

I love working with balance for my short term credit needs! Your website is so easy to use & I know I have customer service support should I not be able to find information online! Everything was great! You were there when I needed cash for car repairs & I was able to pay it back in a few months. Then returned when I needed help with home repairs & you were there with a higher loan & better terms as a returning client. Very, very happy with my experience!

Balance Credit response

Valerie, thank you for the feedback. We’re so glad you chose Balance Credit as your financial partner!

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: May 19, 2022

    Balance Credit has been my go-to when needed. They have a seamless application process. They don't ask a whole lot of questions and their response is quick. It's not that long of a process at all. I do the entire application online and I get a response almost immediately. Subsequently, the requested amount is deposited a day later. I've been dealing with the company for seven or eight years now and I've had to move a payment back three or four times but I've never had an issue.

    Balance Credit response

    Jarrod, thank you for the feedback. We’re so glad you chose Balance Credit as your financial partner!

    Be the first one to find this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: May 4, 2022

    My experience with Balance Credit, has been nothing but exceptional. The terms are laid out, so there are no surprises. Most don't actually read them. The interest is high, but also on (a) par, with similar type loans. They are typical, for those of us, whose credit has fallen on hard times. My only wish, is that they offer for existing customers to just renew, rather than applying again. I do however, understand why. A stellar performance all the way through! Thank you.

    Balance Credit response

    Thank you for the great feedback, Rittie. We’re so glad you chose Balance Credit as your financial partner!

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Dec. 28, 2021

    If you need money, Balance Credit is a great place to start. I have been doing a loan with them for two years now. When I needed, I just go back to them and do it again. It's definitely one of the easier processes to go through for a loan. Just type in your name, address, and financial information, and when you hit enter on the application, it tells you that you'll hear back from them within 24 hours. There's not a lot of communication with the people and you don't hear from anyone until they call you with an approval or rejection. Other than that, the site is easy to use. It prompts you with everything, but I wish there was a way to refinance the current loan.

    Balance Credit response

    Natasha, thank you for the feedback. We’re so glad you chose Balance Credit as your financial partner!

    Be the first one to find this review helpful
    Rated with 4 stars
    Verified Reviewer Verified Buyer
    Original review: Dec. 3, 2021

    There is ease of service with Balance Credit. The process took about 45 minutes to an hour through the online interface. On the first couple of times, someone from customer service would call me to verify my information then it was usually processed within a day. The whole process took 48 hours. Balance Credit has made things a little bit easier. When things have gotten tough, it's been an option for me. I just wish there were lower interest rates. Other than that, Balance Credit is a really good option if the traditional bank route doesn't work for you.

    Balance Credit response

    Meredith, thank you for the positive review! We’re happy you were able to get the funds you needed!

    2 people found this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Nov. 16, 2022

    The process was easy and helpful to refinance and payments are automatically processed. The service was also easy and I had a great experience. They are the easiest to work with in the industry. I would recommend Balance Credit to my friends and family.

    Balance Credit response

    Cheryl, thank you for the great feedback. We’re so glad you chose Balance Credit as your financial partner!

    Be the first one to find this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Nov. 13, 2022

    Great help to me. Process easy and reliable. Of all loans I've taken, I like Balance the most. Really appreciate that I was able to receive more cash before paying off loan. I received an email and it was very easy. Thank you.

    Balance Credit response

    Robin, thank you for the great feedback. We’re so glad you chose Balance Credit as your financial partner!

    Be the first one to find this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Nov. 7, 2022

    I spoke with them before I agreed to get a loan thinking I'll be paying once a month, they even agreed to that, but first month they pull money out twice. After I specified, I CANNOT PAY 2X A MONTH. LIARS.

    Balance Credit response

    Jolene, we are so sorry to hear about your negative experience with Balance Credit. We are always looking for ways to improve our service. If you would like to discuss your concerns, please reach out to our Customer Support Team at 855-942-2526 so we may better assist you.

    Sincerely,

    The Balance Credit Team

    Be the first one to find this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Nov. 2, 2022

    It was easy to sign up. The application took a couple of minutes on the phone and that was it. I didn't have to worry about things too. They took the payment right out of my paycheck.

    Balance Credit response

    Thank you for the great review, Phyllis. We’re glad the process was quick and easy!

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    Rated with 1 star
    Verified Reviewer Verified Buyer
    Original review: Oct. 29, 2022

    Rated only one star because of the rates. Fees and interest are way too high!!! These fees interest and rates need to be lowered. Could be an excellent service if these rates were not so high. Please lower these charges. Thank you.

    Balance Credit response

    We’re sorry to hear you weren’t satisfied with your Balance Credit experience, Andrew. We are always looking for ways to improve our service. If you would like to discuss your concerns, please reach out to our Customer Support Team at 855-942-2526 so we may better assist you.

    Sincerely,

    The Balance Credit Team

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    Balance Credit Company Information

    Company Name:
    Balance Credit
    Website:
    www.balancecredit.com