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 MetaBank or FinWise Bank. Reach Financial is based in New York City and offers customer support by phone Monday through Friday.

You can get started with Reach Financial by checking your rate online:

1. Choose a loan amount between $3,500 and $40,000. Select your loan purpose: consolidating debt or refinancing credit card debt.
2. 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.
3. 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’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 2% to 5%. 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 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.