Balance Credit
AUTHORIZED PARTNER

Balance Credit

 4.5/5 (115 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
  • 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 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.

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Page 1 Reviews 0 - 5
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!

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    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: Oct. 9, 2021

    The application process was a lot simpler than I expected. I liked that I could do it online because my job is pretty demanding. Balance Credit is okay with talking to you through text messages or emails or whatever is best for you, and I appreciated that. They also give you a few options, which is nice. I liked that Balance Credit is flexible with their payment plans and they have a pretty good payment plan. I'm able to make the payments and afford it. It's nice. I chose them because I had my identity stolen twice. So I can't afford to hire a lawyer to fix my credit. But they were very flexible with my credit and understood my stripes. Balance Credit gave me an opportunity to help me get caught up with my bills and balance out since it's just me now.

    Balance Credit response

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

    2 people found this review helpful
    Rated with 4 stars
    Verified Reviewer Verified Buyer
    Original review: Sept. 30, 2021

    During the financial hardship with the COVID, Balance Credit has been handy in helping me secure funds. They help with bills. The process is not really difficult. If sometimes I don't have the funds to pay, I ask them to give me a week's time or a couple of days till I get paid and usually, they're very helpful with that. The prices are steep and the repayment thing is high though. It's a 200 and something percent interest rate, so people should only use them as much as they need them and try to pay them all back as fast as they can.

    Balance Credit response

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

    4 people found this review helpful
    Rated with 4 stars
    Verified Reviewer Verified Buyer
    Original review: Sept. 16, 2021

    The application process was easy to get through. They asked for all information I expected them to ask for. I knew within a few hours whether I was approved or not. When I had an issue with a payment that I needed to change, they were very helpful and able to help me to do what I needed to do. The only thing about Balance Credit is their website gives very limited information. You see your account and you see what you owe, but you can't find out when you're eligible for refinancing until after a period of time. I paid off one loan completely, and I requested another loan for the same amount, but the payment was higher the second time instead of lower. It doesn't seem that they offer anything like a discount for repeat loan applicants.

    Balance Credit response

    Brande, 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: July 31, 2022

    Balance Credit did a verification and their process was straightforward. I did the steps mainly online, then one of their customer service representatives reached out to me to finish up going over the loan. They were pretty upfront about the whole process, which, from start to finish, took a day to complete.

    Balance Credit response

    Lewis, thank you for the feedback. We're so happy you had a great experience!

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: July 30, 2022

    I'm happy with Balance Credit. I sent my application and I got an email later on saying that I was approved and all I had to do was accept it if I wanted it.

    Balance Credit response

    Thank you, Vivian. We’re so glad the process was quick and easy!

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    Rated with 1 star
    Verified Reviewer
    Original review: July 28, 2022

    I have been a client of theirs for some times and I also know that my credit is not good. I understand that, but this time they gave me an interest rate of almost 300% where all the money went to interest, never to principal. And now, after I made the pay off they charged me $60 on the top of the pay off. It's shameful and abusive. I hope I never have to use them again.

    Balance Credit response

    We are so sorry to hear about your recent experience with Balance Credit, Raul. 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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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: July 26, 2022

    Balance Credit it great to work with. Great response time and if I ever have to speak with a customer service representative they are always nice and professional. Definitely have helped me out when I needed to get a little extra cash quickly.

    Balance Credit response

    Thank you, Kimberly. We’re glad to hear you had a great experience with Balance Credit!

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: July 16, 2022

    You all are you good and you work with me and you understand me what I am talking about. I would tell a friend about you all and family you all might help them out too for a load to I try to make a payment on time every month.

    Balance Credit response

    Thank you, Judy. We’re glad to hear you had a great experience with Balance Credit!

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    Balance Credit Company Information

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