Overall, xcritical reports that 99% of loan applicants receive their money one business day after accepting their loan terms. Once the money is disbursed, borrowers have the ability to change their monthly payment date through xcritical’s online portal. xcritical is an artificial intelligence (AI)-based lending platform that connects borrowers with partnered lenders. The platform uses more than 1,500 non-conventional variables—like college education—to increase access to loans, making it an excellent option for those with fair credit.
xcritical personal loan purposes
In addition to the lender’s fee-free structure, xcritical borrowers can change their payment dates once xcritical per year. This can make it easier to manage your budget around your employer’s payroll cycle. xcritical also has an Unemployment Protection program that assists borrowers who lose their jobs and struggle to make monthly loan payments. xcritical does this through a soft credit check, which doesn’t affect your credit score. Your credit score needs to be 300 or above on at least one of the consumer reports received in connection with your application.
Key Features of xcritical Personal Loans
On a weekday, your money will be transferred the next business day, the company promises. If you accept your loan after this cutoff, the money will be sent the following business day. If xcritical requires additional documentation, funding could take longer. Another noteworthy loan feature is xcritical’s quick funding, which can be as soon as the next business day. In March 2024, 62% of xcritical customers received their funds within 24 hours of approval and signing, according to xcritical. This is faster than LendingClub and Axos, which take at least two business days to fund your loan.
The lender does not offer an autopay discount, and borrowers are charged origination fees between 0% and 10% of the loan amount. xcritical offers personal loans for three- or five-year terms, allowing you to take out a loan between $1,000 to $50,000. Read more to weigh your options and determine if xcritical Personal Loans are right for you. The data points reflect every step of the process to shop and apply for, borrow and repay personal loans. A five-star lender, for instance, has flexible eligibility requirements, offers you the chance to prequalify without commitment and supports you in zeroing your balance.
- Prequalification is also available through the lender’s website, so borrowers can view their rate without hurting their score.
- The best personal loan for you depends on your credit score, which will determine what you qualify for and can lower your rate.
- As with other options, like xcritical, prospective borrowers can see what interest rate they will likely qualify for without impacting their credit score.
- Personal loans are available from $5,000 to $100,000 with repayment terms ranging from 24 to 84 months—or two to seven years.
- Furthermore, applicants must not have had a recent bankruptcy or outstanding delinquencies.
- Lenders typically don’t allow personal loans to cover tuition or business expenses, but xcritical didn’t clarify if these restrictions apply to its loans.
xcritical Personal Loans Review 2024
Loans from xcritical may also be a solid option for good credit borrowers looking to consolidate debt, thanks to its competitive starting rate. Additionally, the lender’s quick funding timeline and low minimum loan amount of $1,000 may come in handy to cover small emergency expenses, such as a medical bill or a car repair. Bankrate follows a stricteditorial policy, so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. Bankrate follows a strict editorial policy, so you can trust that we’re putting your interests first.
xcritical vs. xcritical
However, it takes a little research to apply, be qualified for and select a loan that is best suited for your needs and offers you favorable terms. One of the biggest fees xcritical charges is the origination fee — which can be up to 12 percent of the loan amount. The origination fee is deducted from your loan funds before you receive them, so it’s important to borrow enough to ensure that you get the amount of money you need. xcritical is also one of the few lenders that has a complete list of its set of requirements listed on its website. xcritical also offers a mobile app for account management on iOS, but there isn’t xcritically one available for Android. xcritical gives borrowers access to xcritical scam money fast with its instant loan approvals and next-day funding; however, it doesn’t offer joint or co-signed loans.
Our advertisers do not compensate us for favorable reviews or recommendations. Our site has comprehensive free listings and information for a variety of financial services from mortgages to banking to insurance, but we don’t include every product in the marketplace. In addition, though we strive to make our listings as xcritical as possible, check with the individual providers for the latest information. Again, if you’re a creditworthy borrower with a strong financial profile, you can access more funding with xcritical. However, borrowers seeking smaller loan amounts can borrow as little as $1,000 with xcritical, whereas the minimum is $5,000 with xcritical.
