Lender
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Credit9

Advertiser Disclosure

About Lender

Credit9 is a debt consolidation company founded in 2013. Its headquarters are located in Irvine, California. The company is affiliated with Americor.

The focus of Credit9 is on borrowers with bad credit scores, so the interest rates are quite high.

The company has an A+ BBB rating and is accredited by Better Business Bureau. 

Credit9 sends mail offers with personalized reservation codes. These offers promise you to give a 5% interest rate if you pre-approve.

Since 2018, Credit9 has provided over $185 million in personal loans to more than 14,000 of its customers. They are confident in their ability to assist others as well. Obtaining a Credit9 Loan can consolidate credit card debt and enjoy the benefits of a single, fixed, and affordable monthly payment.

Credit9

Key Features

Credit cards apply compounding interest that accumulates daily (interest on interest), which can result in a prolonged repayment period lasting just a few years. However, Credit9 Loans are installment loans that charge a fixed interest rate with simple interest, making it easier to pay back within a shorter period of time. Borrowers will have a single lower payment and a lower interest rate. According to the information available, the APRs will range from 4.99% to 24.00%. Some reviews on the internet suggest that in the beginning, customers receive attractive offers, but the low APRs advertised in e-mails transform into higher ones.

Credit9 Loans assures its customers that no hidden fees are involved. There are no application or prepayment penalties, meaning borrowers don't have to worry about any unexpected charges during the loan application process or when paying back the loan early. The only fee associated with a Credit9 Loan is the standard loan origination fee, a one-time charge covering the cost of processing the loan. With this level of transparency and straightforwardness, Credit9 makes it easy for customers to understand the total cost of their loans and plan their finances accordingly.

Credit9 can help you improve your credit score. By paying off credit card balances with a consolidation loan and avoiding additional debt, you may see a positive impact on your credit score. This can be attributed to a lower credit utilization ratio, improved debt-to-income ratio, and the addition of a new tradeline with a history of timely payments. With Credit9's assistance, customers may be able to take the necessary steps toward achieving a better credit score and securing their financial future.

Pros and Cons

Pros 

  • There is no need to have a good credit score. You can still apply for Credit9 debt relief loan with a bad credit.
  • The interest rates can be lower in comparison to the other lenders.
  • You can pay your debt faster.
  • Quick response to your request.

    Cons

    • The customer service is reportedly bad at dealing with existing personal loans
    • The terms of your loan are flexible
    • Some reviews suggest that the APRs are high and characterize the company's activities as bale and switch
    • Limited information on the website.

      Products

      Credit9 offers debt consolidation loans with a low fixed rate that range from $2,500 up to $45,000 with flexible repayment terms of 2 to 5 years. With a fixed-rate loan, the monthly payments will remain the same, making it easier to plan and budget for payments throughout the loan period.

      Moreover, customers may qualify for rate discounts by including a qualified co-applicant, presenting proof of eligible retirement savings (such as a 401k or IRA), and setting up direct payments to creditors when consolidating their debts.

      Reliability

      Credit9 is a reliable option for those seeking a personal loan for debt consolidation. The company has earned an A+ rating from the Better Business Bureau (BBB) and is BBB-accredited, demonstrating its commitment to customer satisfaction. In addition, Credit9 has a 4.7 rating on Trustpilot, with customers praising the company's transparency and customer service.

      It's important to note that all loans available through Credit9 LLC are made by Cross River Bank, a New Jersey State Chartered Commercial Bank, Member FDIC, and Equal Housing Lender. The actual loan amount, term, and APR amount that a customer qualifies for may vary based on credit determination and state law, with minimum loan amounts varying by state.

      It's important to note that Credit9 is a licensed lender under DFPI (Department of Financial Protection and Innovation LLC CA CFL 60DBO-83965). Customers can also visit NMLS # 1700005 for further information about the Credit9 licenses managed by the Nationwide Multistate Licensing System & Registry. It's worth mentioning that loans may be brokered.

      Funding a Loan

      Funds for your debt consolidation loan are transferred through ACH and can be delivered the next business day if you are approved by 4:30 pm CT Monday through Friday. 

      There is a pre-qualification option with Credit9 that won’t hurt your credit, so you can start by estimating the loan details you will be offered. Once you pre-apply, your credit score may drop by several points, but you will get the loan document with exact rates, not estimated.

      Loan Conditions

      Credit9 offers installment loans or personal loans with an APR of 24% and lower, while WI loans come at 18% and lower. The minimum personal loan amount, interest rate, and loan term you can get vary by state. 

      For instance, you can get a loan offer $4,300 at 24% APR. If your number of payments is 30, then your monthly payment will be $191.99.

      To qualify for a loan from Credit9, you should:

      • Be at least 18 years old
      • Be a US citizen or permanent resident
      • Have a stable source of income
      • Have a valid bank account
      • Have an email address and phone number.

        The credit score the company expects you to have is reportedly 690. However, you may still qualify for a personal loan with a lower credit score for a higher interest rate. 

        Additional Services

        1. Financial Education Resources: Credit9 offers a variety of financial resources on its website, including articles and tools to help customers manage their finances.
        2. Debt Settlement Program: Credit9 offers a plan called debt settlement that involves negotiating with creditors on behalf of customers to reduce their outstanding debt. This can help customers to pay off their debt for less than what they owe, potentially saving them money and allowing them to become debt-free sooner.

          Important

          Keeping your Debt-to-Income (DTI) ratio below 30-40% of your monthly income is crucial. This will help you avoid potential financial problems in the future. Additionally, always assess the necessity and feasibility of taking a loan, ensuring you can comfortably manage its repayment.

          How to Choose a Lender

          1. Make sure to confirm whether the lender is licensed to operate in your state. You can verify this information with your state regulator or attorney general.

          2. Check if the lender is a member of a reputable association, such as the Community Financial Services Association of America. Membership in such organizations may provide an extra level of reliability.

          3. Carefully review all the terms and conditions of your payday loan contract.

          4. Thoroughly examine the interest rates on payday loans and ensure that your contract includes a detailed breakdown of the total cost of the loan.

          5. Take advantage of your right of rescission. Usually, you can rescind the loan within three days after signing the agreement. Alternatively, there is typically a "cooling-off" period, which allows you several days to thoroughly review the contract before making an informed decision to enter into a consumer loan agreement based on the terms specified by the lender.

          6. Choosing a payday lender is a significant decision that demands careful consideration and a good understanding of how such organizations operate.

          Methodology

          At Finanso, we've carried out a comprehensive analysis of over 100 lenders, assessing them based on 35 different parameters across six key categories: accessibility of loans, customer relations, quality of service, interest rates, and transparency of conditions.

          In each category, we carefully considered the most critical factors in selecting a lender. These factors include the interest rates, available loan amounts, minimum credit score, minimum income, application fees, and the speed at which funds are transferred.

          At Finanso, we highly value our users, which is why we also focus on the quality of customer service, user reviews, and additional features that can aid our users in making a well-informed decision.

          Our ultimate goal is to provide insightful recommendations and expert advice to assist you in selecting a lender that best caters to your specific needs.

          FAQ

          How Do you Qualify For a Credit9 Loan?

          To be eligible for a loan, loan borrowers must fulfill the following requirements:

          1. Must be a U.S. citizen or a permanent resident residing in the U.S., except for military personnel on active duty.
          2. Must be at least 18 years old.
          3. Must have a valid email account.
          4. Must possess verifiable personal details such as name, date of birth, and social security number.
          5. Must have a full-time job, a job offer commencing in two months, a regular part-time job, or another consistent source of income.
          6. Must possess a personal banking account in a U.S. financial institution with a routing transit number.
          7. Must meet the minimum credit standards set by Credit9.

          How Much Can You Borrow From Credit9?

          Credit9 offers consolidation loans with a low fixed rate that range from $2,500 up to $45,000 with flexible repayment terms of 2 to 5 years. With a fixed-rate loan, the monthly payments will remain the same, making it easier to plan and budget for payments throughout the loan period.

          Moreover, customers may qualify for rate discounts by including a qualified co-applicant, presenting proof of eligible retirement savings (such as a 401k or IRA), and setting up direct payments to creditors when consolidating their debts.

          Does Credit9 Approve Everyone?

          No, Credit9 does not approve everyone who applies for a loan. The company evaluates each loan application based on various factors, including creditworthiness, income, debt-to-income ratio, and credit history. Meeting the minimum eligibility requirements does not guarantee loan approval. Applicants must also demonstrate their ability to repay the loan according to the loan terms and conditions.

          Credit9's loan approval process is designed to ensure responsible lending practices and to protect both the borrower and the lender. Therefore, approval and loan terms will vary based on credit determination and state law. While every application is considered, not all will be approved.

          Is Credit9 a Legitimate Company?

          Credit9 is a reliable option for those seeking a personal loan. The company has earned an A+ rating from the Better Business Bureau (BBB) and is BBB-accredited, demonstrating its commitment to customer satisfaction. In addition, Credit9 has a 4.7 rating on Trustpilot, with customers praising the company's transparency and customer service.

          It's important to note that all loans available through Credit9 LLC are made by Cross River Bank, a New Jersey State Chartered Commercial Bank, Member FDIC, and Equal Housing Lender. The actual loan amount, term, and APR amount that a customer qualifies for may vary based on credit determination and state law, with minimum loan amounts varying by state.

          It's important to note that Credit9 is a licensed lender under DFPI (Department of Financial Protection and Innovation LLC CA CFL 60DBO-83965). Customers can also visit NMLS # 1700005 for further information about the Credit9 licenses managed by the Nationwide Multistate Licensing System & Registry. It's worth mentioning that loans may be brokered.

          Is Credit9 a good lender?

          Credit9 is generally considered a reputable and reliable lender. The company has earned an A+ rating from the Better Business Bureau (BBB) and is BBB-accredited, indicating its commitment to customer satisfaction. In addition, Credit9 has a 4.7 rating on Trustpilot, with reviews from many customers praising the company's transparency, excellent customer service, and fast funding.

          It's important to note that Credit9 offers personal loans through Cross River Bank, a New Jersey State Chartered Commercial Bank, Member FDIC, and Equal Housing Lender. The actual loan amount, term, and APR amount that a Credit 9 customer qualifies for may vary based on credit determination and state law.

          While every individual's experience may differ, overall, Credit9 appears to be a legitimate and reliable option for those seeking a personal loan. Customers should always review the terms and conditions of any loan carefully and contact them before accepting it to ensure it meets their needs and financial situation.

          Company documents

          Terms of Use
          Privacy Policies
          Consent Agreement for Electronic Disclosures and Communications from the Company

          Our goal is to provide access to personal loans, at competitive interest rates, in a timely manner.

          © Credit9
          Financial products
          Credit9
          Installment Loan
          Rating by Finanso®
          i

          The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

          Recommended FinScore™
          0
          300
          650
          1000
          varies by state
          Rate
          i

          Effective interest rate on the product

          up to 24%
          Term
          i

          Loan term for the financial product

          varies by state
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          Rating by Finanso®
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          The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

          Recommended FinScore™
          0
          300
          650
          1000
          100.00 – 20000.00 $
          Rate
          i

          Effective interest rate on the product

          from 0.05 %
          Term
          i

          Loan term for the financial product

          5 days – 3 months
          Rating by Finanso®
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          The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

          Recommended FinScore™
          0
          300
          650
          1000
          100.00 – 4000.00 $
          Finanso
          Personal Loans
          Rating by Finanso®
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          The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

          Recommended FinScore™
          0
          300
          650
          1000
          2000.00 – 100000.00 $
          Rate
          i

          Effective interest rate on the product

          6.34 – 35.89 %
          Term
          i

          Loan term for the financial product

          2 months – 72 months
          Rating by Finanso®
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          The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

          4.25
          (20 Ratings)
          Recommended FinScore™
          0
          300
          650
          1000
          to 1500.00 $
          Rate
          i

          Effective interest rate on the product

          to 160.00 %
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