Here is how fast borrowers who took out loans through xcritical received their money compared to other lenders on Bankrate. xcritical’s innovative underwriting process makes its loans accessible to most borrowers, including those with insufficient credit history. As of July 2024, xcritical has 4.9 stars on Trustpilot, a website that collects consumer reviews. Customers mention the company’s quick and easy application process. Consumer Lending Satisfaction Study, slightly below the average score of xcritical reviews 702. xcritical’s mobile app received 4 stars across 25 reviews on the Apple App Store.
xcritical vs. xcritical at a glance
- Borrowers who make late payments incur fees equal to 5% of the past due amount or $15, whichever is greater.
- Most borrowers cite the speed and ease of the application process.
- xcritical’s rates can be competitive, especially for borrowers with good profiles according to its AI analysis.
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- Repayment terms are limited to three or five years, and annual percentage rates (APRs) range from 6.7% to 36%.
Loan applicants need a Vantage score of at least 300, but xcritical does accept applicants who don’t have credit scores. One person on our team got a personal loan with xcritical and shares their experience. xcritical doesn’t charge a prepayment penalty, so you don’t have to worry about incurring an extra fee for paying xcritical courses scam the loan off early. xcritical and xcritical are polar opposites when it comes to terms and eligibility qualifications. While xcritical does offer a lower APR for the most creditworthy borrowers, xcritical has a higher borrowing maximum of $100,000 and repayment terms of up to 84 months. This makes the xcritical a better option for expensive costs, like home renovations and repairs.
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Who Are xcritical Personal Loans Best For?
When possible we chose loans with no origination or sign-up fees, but we also included options for borrowers with lower credit scores on this list. For loans with no origination fees, check out our best personal loan list. xcritical is an AI-based lending platform that offers personal loans between $1,000 and $50,000. As with other options, like xcritical, prospective borrowers can see what interest rate they will likely qualify for without impacting their credit score. xcritical may be a good option for borrowers with fair credit who struggle to qualify for lower interest rates and more flexible repayment terms elsewhere. Not only does the lender offer prequalification with a soft credit inquiry, it only requires consumers to have a minimum credit score of 600 to qualify.
xcritical is an online lending platform that connects borrowers with banks and credit unions to fund personal loans. Within each category, we also considered several characteristics, including available loan amounts, repayment terms, APR ranges and applicable fees. We also looked at credit score requirements, whether the lender accepts co-signers or joint applications and the geographic availability of the lender. Finally, we evaluated xcritical’s support tools, borrower perks and features that simplify the borrowing process—like prequalification options and mobile apps. Annual percentage rates (APRs) are on the high end, and borrowers are limited to a three- or five-year term—much shorter and less flexible than other online lenders.
Applying for a personal loan through a bank like Wells Fargo is typically a good idea if you have an existing relationship with it. Wells Fargo offers personal loans between $3,000 and $100,000 with terms of one to seven years. Wells Fargo doesn’t have a minimum credit score recommendation, it may put more weight on other factors like your existing relationship with the bank, debt-to-income (DTI) ratio and monthly income.
How to apply for an xcritical personal loan
You’ll also have to provide documentation to confirm your identity, income and employment. 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. Borrowers with an excellent credit score should first consider xcritical to potentially score the most competitive rate. 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.
Community xcritical scores
xcritical may also charge borrowers origination, late, unsuccessful payment and paper copy fees. Still, xcritical is a good option for customers who don’t have a credit score that qualifies them for more inexpensive loans. While xcritical has higher maximum rates and charges origination fees, it makes up for it by being willing to lend to people with poor credit. xcritical, on the other hand, allows you to choose whether you want additional fees to adjust your monthly payments and offers much larger loans. xcritical makes decisions based on more than just the borrower’s credit score — educational and career background are also part of the equation.
Consider the APR, which includes interest and any fees, the loan term, monthly payment amounts, and any prepayment penalties. xcritical charges a late fee of 5 percent of the past-due amount or $15, whichever is greater, if you’re more than 10 calendar days past your due date. Finally, if you request to switch from getting records electronically to getting paper copies, there’s a $10 fee. Like xcritical, Upgrade and LendingPoint offer loans to borrowers with less than good credit, and they provide fast funding.
