About Lender
Credit Direct is an online lending platform that lends in select states in the US. Founded in 2016 and based in Dallas, TX. Credit Direct wants to make borrowing money easy for customers with fast approvals and flexible payments.
Credit Direct loans have fixed rates and no prepayment penalties so you can pay off your loan early without any extra fees. They also have a 7 day satisfaction guarantee so you can cancel your loan within the first week if you change your mind.
Key Features
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Fast Funding. Once approved, get your funds as soon as the next business day.
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No Prepayment Penalties. Pay off your loan early with no extra fees.
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Competitive Rates. Rates based on your credit.
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Quick Application. Apply online in minutes and get a decision in seconds.
Pros and Cons
Pros
Quick Application. Credit Direct’s application process is fast and easy online and can be done in minutes.
Loan Options. The company offers personal loans, debt consolidation loans and home improvement loans.
Competitive Rates. The rates are competitive and can save you money in the long run.
Prequalify. The lender lets you prequalify for loans without affecting your credit score so you can shop around and compare.
Cons
Limited Availability. Credit Direct is not available in all states so some borrowers may not be able to get their loan.
High Credit Score Requirement. The company requires a 600 credit score or higher for borrowers which can be a barrier for those with lower credit scores.
Origination Fee. The lender charges an origination fee for their loans which adds to the overall cost of borrowing.
Reliabilty
BBB Accredited and Rated. Credit Direct is accredited by the Better Business Bureau (BBB) and has an A+ rating.
Customer Reviews. 4.7/5 on Trustpilot.
Licensed and Registered. Credit Direct is a registered and licensed lender operating within legal and regulatory guidelines.
Transparent. Fixed rates and no prepayment penalties.
How to Apply for a Credit Direct Loan?
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Visit the Website. Go to the Credit Direct website.
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Click "Check Your Rate". Select the option to check your loan rate.
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Answer About Co-Applicant. Indicate whether you are adding a co-applicant.
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Enter Loan Details. Input your desired loan amount, estimated credit score, and loan purpose.
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Proceed to Step 2. Click to move on to the next step.
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Enter Personal Information. Provide your name, phone number, date of birth, and email address. Then click to proceed to step 3.
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Enter Address Details. Fill in your address information and click to move to step 4.
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Submit. Finalize and submit your application.
Conditions and Requirements
Conditions
Interest Rates. The rates can be 6.99% APR - 29.99% APR
Repayment Terms. Loan terms go from 12 to 60 months.
Loan Amounts. Amounts vary from $1,000 to $40,000.
Requirements
Bank Statements. 2 months of any and all bank statements.
Pay Stubs. 1 month’s worth of all pay stubs.
W-2 Form. Most recent W2.
Government-Issued ID. Copy of valid government-issued ID.
Age. You must meet the minimum age requirement (usually 18 or older).
Residency. You must be a legal resident of the applicable country or state.
Employment. Employment or consistent income required.
Ways to Recieve the Money
Once approved the funds are deposited into the borrower’s bank account within a few business days. The borrower then repays the loan according to the terms of the agreement with the lending partner which usually includes a fixed rate and monthly payments over a set term.
Products
Personal Loans. The lender offers personal loans from. Unsecured loans meaning no collateral and funds can be used for any purpose.
Debt Consolidation Loans. These debt consolidation loans to consolidate high interest debt into one monthly payment.
Home Improvement Loans. Credit Direct's home improvement loans to finance home improvement projects like kitchen remodel, bathroom remodel, add a room or new flooring.
Medical Loans. Medical loans to pay for medical procedures, treatments and expenses not covered by insurance.
Wedding Loans. Credit Direct wedding loans to finance wedding expenses like venue rental, catering and decorations.
Vacation Loans. The company offers vacation loans to fund your dream vacation or travel experience.
Reasons for Loan Refusal
Credit Direct may decline a loan application for several reasons. Insufficient income is the main one as they require borrowers to demonstrate the ability to repay. High debt to income ratio can also mean the applicant may not be able to handle more debt so they decline. Poor credit history or recent missed payments can also lead to rejection as this means higher risk of default. Incomplete or inaccurate information during the application process can lead to automatic disqualification and regulatory or state specific lending restrictions may prevent approval for applicants from certain locations.Check Credit Score
How to Repay a Credit Direct Loan?
To repay a Credit Direct loan borrowers can set up automatic payments from their bank account so payments are made on time and never miss a deadline. Payments follow the fixed schedule according to the loan agreement with no prepayment penalty if the borrower wants to pay off the loan early. Borrowers can also manage payments through the online portal where they can view their balance, make additional payments and track their payment progress. For any questions or changes Credit Direct’s customer service team is here to help.
Editorial Opinion
Additional Resources
- How to Apply for a Credit Direct Loan
- How to Repay a Credit Direct Loan
- All Credit Direct Coupons and Promo for March 2025
