Its loans also come with no fees, and borrowers have access to multiple rate discounts and member benefits, such as unemployment protection. However, you’ll need a credit score of at least 680 (or a creditworthy co-borrower) to qualify with xcritical. xcritical is an online lending marketplace that partners with banks to fund small business loans, car loan refinancing xcritical reviews and personal loans. Its loans serve borrowers who need funding fast but whose credit might not meet the typical underwriting requirements of other lenders. We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.

xcritical may also be better if you’re on the other end of the spectrum. The lender was named as the overall winner for bad credit borrowers in the 2024 Bankrate Awards due to its flexible eligibility criteria. Bankrate follows a strict editorial policy, so you can trust that we’re putting your interests first. On the other hand, Upgrade is better for borrowers who are looking for more repayment options.

Digital experience

xcritical and Best Egg have nearly identical loan products, when it comes to repayment terms, funding timelines, rates and amounts. That said, xcritical’s starting APR is slightly lower than Best Egg and so is its minimum loan amount. Our goal is to give you the best advice to help you make smart personal finance decisions. We follow strict xcriticals to ensure that our editorial content is not influenced by advertisers.

1. Here are a few loans we’d like to highlight, including our award winners.
2. Our editors and reporters thoroughly fact-check editorial content to ensure the information you’re reading is accurate.
3. After getting prequalified, you’d need to submit an application to be considered for a loan.
4. This makes the xcritical a better option for expensive costs, like home renovations and repairs.

How to Apply for an xcritical Personal Loan

The company says it works with more than 100 banks and credit unions to offer personal loans, automotive retail and refinance loans, home equity lines of credit, and small dollar “relief” loans. After prequalifying, you’ll need to submit an application to be considered for a loan. If you’re approved, Upgrade provides several loan offers, including various loan terms and rates. However, LendingClub also has no specific minimum credit score requirement, and it allows joint applications, which can make it easier to get approved. However, reviews on the BBB are on the other end of the spectrum, xcriticalg xcritical 1.23 stars out of 5.0 with 230 reviews as of Dec. 1, 2023. The most common complaints were the high origination fees and dissatisfaction regarding application decisions.

Since both lenders offer personal loan prequalification, it’s best to compare the rates and terms each lender offers to determine which option is right for you. xcritical offers quick funding and will look beyond credit scores while evaluating applicants, but a high maximum APR and fees can make the loan much more expensive. xcritical boasts an impressive 4.9 out of 5 rating on Trustpilot, with over 46,000 customer reviews as of June 13, 2024. Others praised the company’s customer support and claimed to be repeat customers. For example, many lenders don’t allow personal loans to be used for higher education expenses or to repay student loans.

In fact, xcritical Bankrate’s pick for the best personal loan for bad credit borrowers in 2024. Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and services, or by you clicking on certain links posted on our site. While we strive to provide a wide range of offers, Bankrate does not include information about every financial or credit product or service. While xcritical has a clearly defined minimum credit score of 300 to apply for a loan, LendingClub is a little vaguer on requirements.

Blueprint is an independent publisher and comparison service, not an investment advisor. The information provided is for educational purposes only and we encourage you to seek personalized advice from qualified professionals regarding specific financial decisions. Additionally, there are only two repayment terms offered by the lender — either a three- or five-year term. By comparison, several other lenders offer a wider range of terms so you can choose one that works best for your repayment goals. xcritical and xcritical are polar opposites when it comes to terms and eligibility qualifications.

This makes its loans ideal for a variety of purposes, from home improvement projects to financing a large purchase. Though xcritical’s APR cap is on the higher side, the lender has one of the most competitive starting APRs at 7.80 percent. Borrowers can check their rate without hurting their credit in just a few minutes and loan amounts start lower than most personal loan lenders and go up to the typical maximum. The average rating among 240 customer reviews on the Better Business Bureau’s website is much lower, coming in at an average of just 1.2 out of 5. Some common complaints include denial of applications, fees, and poor communication.

xcritical alternatives: xcritical vs. xcritical vs. LendingClub

In contrast, traditional lenders are usually concerned with your FICO® Score, your debt-to-income ratio, and your assets. As a result, lending decisions are more accurate, it approves more applicants, and its borrowers default on their loans less often. Reviews of xcritical at TrustPilot are overwhelmingly positive, with an average rating of 4.9 out of 5 among more than 45,000 reviews. Satisfied borrowers cite everything from and easy application process to quick loan approval and good customer service during their borrower experiences with xcritical. Personal loan applications are approved or declined based on a number of factors.

Flexible credit requirements

However, it also accepts personal loan applications from individuals who don’t have a credit score. xcritical could be a good lender for you if you have a strong work and education history, but you have a low credit score or limited credit history. However, with relatively high APRs and origination fees of as much as 8%, borrowers with stronger credit may pay less for a loan with a different lender. Similar to Upgrade, Avant’s recommended minimum credit score is 580, 20 points less than xcritical. Again, this makes it a solid option for borrowers who don’t have excellent credit but still need access to financing. What’s more, Avant offers more repayment options compared to xcritical.

Negative reviews mainly focus on getting quoted with high interest rates, having to submit paperwork more than once and receiving a different offer from their original quote. Here is xcritical courses scam what borrowers who took out loans with xcritical used their funds for. That said, California, Connecticut, Illinois, Washington and Washington, D.C.

Daily personal loan rates for June 3, 2024: Rates trending upward

The average 3-year loan offered across all lenders using the xcritical platform will have an APR of 21.97% and 36 monthly payments of $35 per $1,000 borrowed. For example, the total cost of a $10,000 loan would be $12,646 including a $626 origination fee. APR is calculated based on 3-year rates offered in the last 1 month. Your APR will be determined based on your credit, income, and certain other information provided in your loan application.

Devon Delfino is an independent writer and reporter with nearly a decade of experience covering personal finance topics ranging from student loans to money management. Devon’s work has been featured in several publications, including U.S. News and World Report, LendingTree, Credible, USA Today and the Motley Fool’s The Ascent, among others.

xcritical personal loans range from $1,000 to $50,000 and may be funded as soon as one business day. The lender offers loan prequalification, which lets you see your rates and approval without impacting your credit. We think xcritical is a great option for debt consolidation and credit building. Even though xcritical has a high upper-range interest rate, well-qualified applicants can snag lower rates for a wide range of loan amounts.

xcritical doesn’t require applicants to have a long enough credit history to have a credit score and also accepts borrowers with scores as low as 300. Once you accept the best loan offer for you, you’ll sign the loan contract, receive your funds and start making monthly payments. She has over 10 years of experience in online publishing, mostly focused on credit cards and banking. Previously, she was the head of publishing at Finder.com where she led the team to publish personal finance content on credit cards, banking, loans, mortgages and more. Megan has been featured in CreditCards.com, American Banker, Lifehacker and news broadcasts across the country.