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About Reach Financial Reviews
Reach Financial offers personal loans to help you refinance credit card debt or consolidate debts from various creditors. You can check your rate on a loan from $3,500 to $40,000 with no effect on your credit score, then customize your loan terms. Other benefits include monthly access to your credit score, the ability to pause your payment for up to 90 days and U.S.-based customer service.
Pros & Cons
- Customizable loan terms
- Free credit score monthly
- Payment pause up to 90 days
- Cash bonuses for paying on time
- Limited uses for loans
- No weekend phone support
Reach Financial offers personal loans for refinancing or consolidating debt in amounts up to $40,000. You can check your fixed rate on a loan with no hit to your credit and get an offer in minutes.
What is Reach Financial?
Reach Financial’s goal is to help customers pay off debt faster. It provides personal unsecured loans for refinancing credit card debt and consolidating debt. Reach Financial claims its customers have paid off a total of $1 billion in debt while also raising their credit scores an average of 50 points over three months by making on-time payments.
Reach Financial loans are issued by either Pathward National Association or FinWise Bank. Reach Financial is based in New York City and offers customer support by phone Monday through Friday.
How does Reach Financial work?
You can get started with Reach Financial by checking your rate online:
- Choose a loan amount between $3,500 and $40,000. Select your loan purpose: consolidating debt or refinancing credit card debt.
- Fill out identifying information, including your name, email address, phone number, date of birth and address. You also need to provide your gross annual income, type and length of employment and monthly housing payment.
- Once you have submitted the required information, you’ll see your rate in minutes. Reach Financial runs a soft credit check, so your credit score won’t be affected. From there, you can customize your loan terms before officially applying for a loan. You’ll choose a payoff strategy during the process, which includes the loan balances you want to consolidate or refinance.
Your loan comes with other benefits, like free monthly credit score updates and even cash bonuses for paying on time. If you’re struggling to meet a payment deadline, you may be able to pause your payments for up to 90 days by submitting a hardship request. Your loan will continue to accrue interest during this period.
Reach Financial rates
Reach Financial’s fixed annual percentage rates (APR) range from 5.99% to 35.99% at the time of publishing. The rate you get depends on your credit history, loan amount and term length. Reach Financial charges an origination fee from 0% to 8%. The best way to find out your rate is to check it on the website; it takes minutes and doesn’t affect your credit score.
Reach Financial FAQ
Does Reach Financial affect my credit?
Checking your rate from Reach Financial doesn't affect your credit. Typically, a lender only does a hard credit pull once you formally apply for a loan. This can lower your score by several points.
Can you refinance with Reach Financial?
Reach Financial offers debt consolidation loans and loans that help you refinance your credit card debt.
How much money can I borrow from Reach Financial?
You can borrow between $3,500 and $40,000 from Reach Financial.
How long does it take to get a loan from Reach Financial?
It takes around 48 hours after loan approval for a creditor to receive the loan funds, according to Reach Financial.
Is Reach Financial legit?
Reach Financial is a legitimate company that has helped borrowers pay off hundreds of millions of dollars in debt. Loans are funded by two FDIC-insured banks. The company offers several good features, including monthly credit score updates and payment pauses. However, unlike with many other lenders, you can only use its personal loans to pay off debt. If you're looking for a debt consolidation loan or a credit card refinancing loan, we suggest getting a rate quote from Reach Financial and comparing it with other offers.
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Reviewed Feb. 16, 2023
Everything went smoothly and quickly in my experience with them. When I had questions and I emailed them, they got back to me the very next day with the answers that I needed. I also like their online portal. It's really self-explanatory and gives a lot of information. They're a good company to go with.
Thank you so much for sharing your positive experience with us! We are thrilled to hear that everything went smoothly and quickly during your interaction with us. Providing excellent customer service is one of our top priorities, and we are glad to know that we were able to address your questions promptly.
Your kind words mean a lot to us, and we truly appreciate your recommendation. If you have any further questions or need any assistance in the future, please don't hesitate to reach out. We are here to help!
Reviewed July 29, 2023
Having Reach Financial consolidate your loans into one, which was initially what I wanted to do, was a blessing. And with the low price, it was very nice. It was a no-brainer. The application process was very simple and the reps were very helpful and flexible. They told me what the process was and it took 90 days for everything to transfer over to Reach Financial. But it was immediate. There wasn't much for me to do. What they said would happen, happened. The reps were very transparent, clear, knowledgeable and personable. If I had a question, they answered it. If they didn't know, they got someone who did. It was a very pleasant experience.
Working with Reach helped me get to my goal to be debt free. It's not stressful, which is wonderful. They laid it out and didn't overwhelm you with a whole lot of information, like spam mail. It's very personal to me as well because when I went through National Debt Relief, I was very upset with myself. This is something that you don't want to do or have to happen but it did. But there was a solution and with Reach Financial, they took all of that stress away. I had a loan to pay for those creditors and get everything all done in one swoop, and it took a lot of stress when that happened.
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Reviewed July 16, 2023
I was going through National Debt Relief and they said I had done so well, making on-time payments and it was a good opportunity for me to get the debt settled a lot faster with a loan through Reach Financial. I had a few questions and the rep answered all of them. I didn't initiate this myself so, I was a little unsure. But he went through everything with me and was very patient. So, the application process was easy and the customer service was great. The turnaround was a day or two before I got the first settlement and that was fast. Five days later, I got another one. So, Reach appears to settle quickly. I haven't got my first payment through them yet and they said it might be slightly higher than what I'm paying but somewhat comparable. At least the settlements are done and it's not putting me so much in the hole where I'm going backwards of having to pay so much money. It's been a great experience so far.
Reviewed April 3, 2023
The application process with Reach took about an hour and it took that long because I was very skeptical. I had so much debt and I wanted to make sure I was doing the right thing. I regretted it afterward for the mere fact that I added credit cards. I put credit card debt on to the consolidation. After the fact, I realized that I didn't have an APR on that until January of 2024 so I pretty much put an APR on something that I didn't have an APR on to begin with. That stunk. After I got off the phone, I felt I was taken. But it is what it is. Their guy was nice and he did his job well. He knew what he was talking about. He was very patient because I had a million questions. Kudos to him for that.
I still have ways to go. But it's nice to have my debt consolidated. The only problem is that I'm always on such a tight budget that one of the cards that I had consolidated on there, I had to use again. It's like I'm beating a dead horse type of thing. I'm reverting right back to where I was. I'm a single mom and I pay for my daughter's college tuition.
Thank you for sharing your experience with us. We understand that making decisions about consolidating debt can be a daunting process, and we appreciate your thoroughness in ensuring that it was the right choice for you.
We're glad to hear that our representative was able to assist you and provide the necessary information during the application process. Our team strives to be knowledgeable, patient, and helpful, and we're pleased that we could address your concerns and provide guidance throughout.
Reviewed Jan. 14, 2023
I was looking for a way to consolidate some loans and stuff that I had. I found out about Reach Financial and we pieced everything together in the best way for me to consolidate everything and get everything going. They took care of all the accounts so it was pretty smooth. The application process to fill out and to get everything done probably took 30 minutes in total. I had to go through a phone call with an advisor and then someone who helped me piece everything together. I submitted my application to them and they emailed me back. They needed me to verify something so they emailed me back and I emailed them back the next day. It was pretty quick. Reach Financial has been helpful. Any problem I had, we ended up solving and figuring them out. I had my first payment to them this month.
Thank you for sharing your positive experience with Reach Financial. We are thrilled to hear that we were able to assist you in consolidating your loans and streamlining your financial situation. We appreciate your kind words about our helpfulness and problem-solving approach. Our goal is to ensure that our customers feel supported and confident in their financial journey, and we're glad that we were able to provide you with the assistance you needed.
Reviewed Nov. 25, 2022
The process was straightforward. I clicked on the advertisement then there were some prompts that I went through. Someone contacted me, and we talked about what I was trying to do. He took some initial information from me. When I voiced concerns about having some trust issues, he said things that made me feel more comfortable about giving him my information. Then he connected me with the next level financial advisor that closed the deal. The phone conversations with the two gentlemen took 45 minutes to an hour. Then I had to link my bank account. That took another 30 minutes. The process took an hour and a half tops. I never heard of Reach Financial before. I wasn't sure who I was talking to. There was some hesitation on my part. But the advisors were helpful and very professional. They explored a few different options that I could do. They explained things very clearly. They knew what they were talking about.
We appreciate your trust in us and we're grateful for the opportunity to assist you in achieving your financial goals.
Reviewed July 29, 2023
I like the rates with Reach Financial. It was also easy to understand how to fill the application out.
Reviewed July 17, 2023
A lot of the application was done electronically. So, once everything got submitted, I received a noticed that really outlined the summary as well as some of the information that they would be leveraging. Also, the customization was user-friendly to where I could select how I wanted to distribute different resources. Once I was ready, I was able to execute digitally and everything was smooth. But I wanted to have additional funds allocated and the information that I was given was that it was just not available at the time. I would have liked a little bit more clarification on how I could have additional resources approved because if I wanted to revisit that, I could absolutely do that as opposed to having a hard line in the sand saying, "No, this is what it is."
Reviewed July 16, 2023
They were very informative, helpful, and kind. They were pretty good. Reach settled our debt.
Reviewed July 15, 2023
I was pleased with the application process. That didn’t take long at all. Their customer support is great. I called and said, “I don’t want to send my bank account again to somebody that I don't even know who it's gonna be.” The rep went through it and told me they have all the information. That was very helpful. It’s awesome the way they take care of business. They sent the stuff off and paid it off. Now I’m just gonna pay them. I’m happy.
Reviewed July 15, 2023
I did a debt consolidation and the application process was very fast and smooth. Once the debt consolidation was paid, I received information again from Reach with regard to the payment. Everything was agreed at the time of the contract and I knew every step before it happened. They notify me when it's going to be due and when it’s been automatically paid. Then, every time I call, I get the responses. I'm paying Reach off now and I still have seven more months. I would recommend them if people want to liquidate and put everything in one payment and get it done as soon as possible.
Reach Financial Company Information
- Company Name:
- Reach Financial