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
- 4 stars
- 3 stars
- 2 stars
- 1 stars
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 24 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 24 states:
- Alabama
- Alaska
- Arkansas
- Arizona
- Delaware
- Florida
- Idaho
- Indiana
- Kansas
- Kentucky
- Louisiana
- Michigan
- Minnesota
- Missouri
- Mississippi
- Montana
- Ohio
- Oklahoma
- South Carolina
- Tennessee
- Texas
- Utah
- Washington
- 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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My Experience was satisfactory. I was offered 3010.00, I looked into the offer and found out that I was eligible for 1000.00. I applied for the 1000.00 and was quickly approved. The loan agreement papers came up quickly, Too quickly. I was unable to review them prior to accepting the loan. When I did agree to the terms of the loan and electronically sign, it was then that I found out that this refinance was paying off my previous loan and received only 489.00. I would have been more satisfied if I was not rushed through the process and had been able to learn that my previous loan was going to be paid off with this new loan agreement, That being said, I might not have agreed to the offer. However I am satisfied with the help from what I got, It came at an Ideal time. Thank you.
Thank you for the feedback, John. We really appreciate it!
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One of the top reasons I continue to use Balance Credit is that it's quickly accessible. The application can be completed in three or four minutes and they respond quickly with their decisions - whether I get the money or not. The award is directly deposited so I don't have to worry about that piece of it and they send notifications when payments are due. They give a level of how much I can borrow based on income and I can choose up to that dollar amount. As I continue to use them, my level of credit has increased. They're a good company to work with.
Diane, thank you for the feedback. We’re so happy you had a great experience!
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!
Valerie, thank you for the feedback. We’re so glad you chose Balance Credit as your financial partner!
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.
Jarrod, thank you for the feedback. We’re so glad you chose Balance Credit as your financial partner!
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.
Thank you for the great feedback, Rittie. We’re so glad you chose Balance Credit as your financial partner!
My first original loan went through without a hitch on it. I went through it over my phone and it took about two minutes to get it processed and approved, which was awesomely great.
Thank you for the great review, Loren. We’re so glad the process was quick and easy!
Actually a little disappointed with my current loan. I thought the rates were supposedly to get lower each time? I should have handled my last loan differently. The process is easy and convenient. Unfortunately payday loans are not customer friendly, because all the rates are ridiculous.
Thank you so much for the feedback, Loretta. We are always looking for ways to improve our service. If you would like to discuss your concerns further, please reach out to our Customer Support Team at 855-942-2526 so we may better assist you.
Sincerely,The Balance Credit Team
I received a mail offer to get a personal loan. I went through the online process to get a personal loan because I have moving expenses and I wanted also to consolidate my credit card balances as well as have a bit extra for necessary utility deposits. I called the company and spoke with a customer service rep. After I explained the situation that a smaller loan wouldn't help me consolidate my credit cards the rep said I'd have to reapply with the understanding that I could ask for a higher amount.
He put me back through the automated system which doesn't allow for you to request an amount in the application, but merely tells you how much they will loan you. And this second time it was even less that the first offer. I have Fair (closer to Good) credit, have always paid on time and I couldn't even reach an actual person to negotiate my loan. This customer service rep tricked me into yet another unnecessary credit check which, as you know, always looks bad on your report. This is a horrible, horrible service that relies entirely on an automated system. I do not recommend this Balance Credit for anyone trying to build their credit or consolidate loans. They will NOT work with you.
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
Quick and easy process. Money was in my account the next business day. I would highly recommend to anyone looking for a short term loan. The staff were very helpful in helping get them the information they needed for funding.
Ann, thank you for the review. We're so happy you had a great experience with Balance Credit!
I’ve been with Balance for some years now and I never had a problem. The process was really easy and I did everything online. I just put in all my information then within a few minutes, I was approved.
Cynthia, thank you for the feedback. We’re so glad you chose Balance Credit as your financial partner!
Balance Credit Company Information
- Company Name:
- Balance Credit
- Website:
- www.balancecredit.com