Credit9 Reviews

Credit9 is an online lender specializing in personal loans for consolidating unsecured, high-interest debt, although it also offers personal loans for purposes other than paying off debt. While Credit9’s headquarters are in Irvine, California, it services loans nationwide.

The entire pre-qualification, application and approval process takes place online, or you can choose to work with a Credit9 customer consultant during parts of the process.

Credit9 promises that if you’re approved, you’ll have a single, fixed-rate monthly payment — versus the varied minimum monthly payments you may have with other higher-interest unsecured loans or credit cards. Credit9 says predictable monthly payments will not only potentially save you money in interest fees each month, but can simplify your finances for easier budgeting.

If you’re interested in obtaining a loan through Credit9, the first step is to fill out a quick prequalification form on the website. Credit9 initially only asks for your name, phone number, address and other basic information. This part of the process does not have any impact on your credit score.

If you decide to move forward with a loan application through Credit9, you’ll provide financial documentation, including proof of income. The underwriting team at Credit9 reviews your financial information, including your credit profile, to determine both your approval and loan terms. This part of the process will show as a hard inquiry on your credit report and may have a minor impact on your score.

If approved and you decide to move forward, you’ll agree to the terms and e-sign the loan documents. This process takes place online, or you can request to work with a Credit9 loan consultant at any point.

It’s possible to have the funds deposited into your bank account as soon as the next business day once approved.

Credit9 does not advertise its interest rates on its website, and your interest rate will have a major impact on the overall cost of the loan. While there are no application fees or prepayment penalties with the loan, Credit9 does charge an undisclosed origination fee, which is typically a small percentage of the overall loan amount.

Several factors determine your interest rate for a loan through Credit9, including your credit score, credit history, debt-to-income ratio (DTI) and income. Credit9 does not specify what minimum credit score is required for approval.

Credit9 is a legitimate personal loan option for those who want to consolidate their high-interest credit cards or other unsecured debt. It will appeal to borrowers who prefer an online application process, but also offers a human touch with customer service representatives.

While Credit9 advertises it can help you save thousands of dollars in interest by consolidating, it’s important to remember each loan is based on your own creditworthiness and personal financial factors, which affect the interest rate you receive from Credit9.