Lender
Rating by Finanso®
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Credit Direct

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About Lender

Credit Direct is an online lending platform that provides personal loans to customers in select states in the United States. The company was founded in 2016 and is headquartered in Dallas, Texas. Credit Direct aims to provide its customers with a simple and easy way to borrow money, with fast approvals and flexible payment options.

Credit Direct offers personal loans ranging from $1,000 to $40,000, with terms of up to 60 months. The loans can be used for a variety of purposes, such as debt consolidation, home improvement, and unexpected expenses. Customers can apply for a loan online or by phone, and the application process is designed to be fast and easy.

Credit Direct's loans come with fixed interest rates and no prepayment penalties, which means that customers can pay off their loans early without incurring any additional fees. The company also offers a 7-day satisfaction guarantee, which allows customers to cancel their loans within the first week if they change their minds.

Overall, Credit Direct aims to provide its customers with a convenient and flexible way to borrow money, with a focus on fast approvals and easy payment options.

Key Features

Credit Direct is an online lending platform that offers personal loans to consumers. Here are some key features of Credit Direct:

  1. Personal loans. Credit Direct offers personal loans ranging from $1,000 to $40,000.

  2. Quick funding. Once approved, borrowers can receive their funds as soon as the next business day.

  3. Flexible repayment terms. Credit Direct offers loan terms ranging from 24 to 60 months, with the option to pay off the loan early with no penalty.

  4. No prepayment penalties. Borrowers can pay off their loan early without incurring any penalties.

  5. Competitive rates. Credit Direct offers competitive interest rates based on the borrower's creditworthiness.

  6. Easy application process. Borrowers can apply for a loan online in minutes and receive a decision within seconds.

  7. No collateral required. Credit Direct offers unsecured personal loans, so borrowers don't need to put up collateral to secure the loan.

Overall, Credit Direct aims to provide a simple and straightforward borrowing experience for consumers who need a personal loan.

Example

You can borrow $2,000 at a 9% annual percentage rate (APR) and pay it back over 36 months. Your monthly repayment amount will be $63.84 and the total repayment amount will be $2,297.44. The total interest paid will be $297.44.

Pros and Cons

Pros

  • Fast application process. Credit Direct offers a quick and easy online application process, which can be completed in minutes.
  • Flexible loan options. Credit Direct offers a variety of loan options, including personal loans, debt consolidation loans, and home improvement loans.
  • Competitive rates. Credit Direct offers competitive interest rates on its loans, which can save borrowers money in the long run.
  • Prequalification. Credit Direct allows borrowers to prequalify for loans without impacting their credit score, which can be useful for those who want to shop around and compare loan options.
  • No prepayment penalty. Credit Direct does not charge a penalty fee for paying off a loan early, which can save borrowers money on interest.

Cons

  • Limited availability. Credit Direct is not available in all states, so some borrowers may not be able to access its loan products.
  • High credit score requirement. Credit Direct requires a minimum credit score of 600 for borrowers, which could be a barrier for those with lower credit scores.
  • Origination fee. Credit Direct charges an origination fee for its loans, which can add to the overall cost of borrowing.
  • Limited loan amounts. Credit Direct's loan amounts are limited to $40,000, which may not be enough for some borrowers.
  • Potentially high APR. While Credit Direct offers competitive rates, its APRs can still be relatively high compared to other lenders.

Products

Credit Direct is a lending platform that offers personal loans for various purposes, including debt consolidation, home improvements, and unexpected expenses. Here are some of the key products offered by Credit Direct:

  1. Personal Loans. Credit Direct offers personal loans ranging from $1,000 to $40,000, with flexible repayment terms of 12 to 60 months. The loans are unsecured, meaning they do not require collateral, and the funds can be used for any purpose.

  2. Debt Consolidation Loans. Credit Direct offers debt consolidation loans to help individuals consolidate high-interest debt into one affordable monthly payment.

  3. Home Improvement Loans. Credit Direct offers home improvement loans to help finance home improvement projects, such as remodeling a kitchen or bathroom, adding a room, or installing new flooring.

  4. Medical Loans. Credit Direct offers medical loans to help individuals pay for medical procedures, treatments, and expenses not covered by insurance.

  5. Wedding Loans. Credit Direct offers wedding loans to help finance wedding expenses, such as venue rental, catering, and decorations.

  6. Vacation Loans. Credit Direct offers vacation loans to help individuals finance their dream vacation or travel experience.

Overall, Credit Direct offers a range of loan products to help individuals meet their financial needs and goals.

Funding a Loan

Credit Direct offers personal loans that can be used for a variety of purposes, such as debt consolidation, home improvement, or unexpected expenses. To fund a loan, Credit Direct typically uses funds from its network of lending partners, who provide the actual loan to the borrower.

The application process is done online and can be completed in just a few minutes. Borrowers will need to provide personal and financial information, such as their employment status, income, and credit score. After submitting the application, Credit Direct will review the borrower's information and match them with a lending partner that meets their needs.

Once approved, the funds are typically 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 interest rate and monthly payments over a set term.

Alternatives

There are several alternatives to Credit Direct, including:

  1. LendingClub is a peer-to-peer lending platform that offers personal loans to borrowers with good credit scores. The loans range from $1,000 to $40,000 and are available with fixed interest rates and flexible repayment terms.

  2. Prosper is another peer-to-peer lending platform that offers personal loans with competitive interest rates and flexible repayment terms. Borrowers can apply for loans of up to $40,000 and can choose from fixed or variable interest rates.

  3. Avant is an online lender that offers personal loans to borrowers with fair credit. Loans range from $2,000 to $35,000, and borrowers can choose from fixed or variable interest rates and flexible repayment terms.

  4. SoFi is an online lender that offers personal loans with competitive interest rates and flexible repayment terms. Borrowers can apply for loans of up to $100,000 and can choose from fixed or variable interest rates.

  5. Marcus is an online lender that offers personal loans with no fees and flexible repayment terms. Loans range from $3,500 to $40,000, and borrowers can choose from fixed interest rates.

It's always a good idea to compare loan options from different lenders to find the best one for your needs and financial situation.

Credit Direct

FAQ

How Do you Qualify For Credit Direct Loan?

To qualify for a loan from Credit Direct, you must meet the following criteria:

  1. Be a U.S. citizen or permanent resident
  2. Be at least 18 years old
  3. Have a valid government-issued ID
  4. Have a verifiable source of income
  5. Have an active checking account
  6. Meet the credit score and income requirements set by Credit Direct

Credit Direct may also consider other factors when reviewing loan applications, such as employment history, debt-to-income ratio, and credit history. It's important to note that meeting the basic eligibility criteria does not guarantee approval for a loan from Credit Direct, as they will assess each application on a case-by-case basis

How Much Can You Borrow From Credit Direct?

Credit Direct offers personal loans ranging from $1,000 to $40,000. However, the loan amount that a borrower can receive may depend on various factors, such as the borrower's creditworthiness, income, employment history, and other financial obligations. Therefore, it is recommended to check with Credit Direct to determine the maximum loan amount you may be eligible for based on your individual circumstances.

Does Credit Direct Approve Everyone?

No, Credit Direct does not approve everyone. The company has certain eligibility criteria that applicants must meet in order to qualify for a loan. The specific criteria may vary depending on factors such as the loan amount, the borrower's credit history, and other relevant factors. It is recommended that potential borrowers review the company's eligibility requirements before applying for a loan.

Is Credit Direct a Legitimate Company?

Yes, Credit Direct (Delmarva Funding LLC dba Credit Direct) is a legitimate company that offers personal loans to qualified borrowers. The company is licensed and registered in multiple states in the United States and has been operating since 2005. They have a positive reputation and are accredited by the Better Business Bureau (BBB) with an A+ rating. However, it is always important to do your own research and due diligence before applying for any loan or working with any financial company.

Is Credit Direct a good lender?

Credit Direct has generally positive reviews from customers and is accredited by the Better Business Bureau. It is important to note that every individual's experience with a lender may vary, and it is essential to thoroughly research and compare different lenders before making a decision.

Company documents

Terms of Service
Privacy Policy

Credit Direct is a new kind of online consumer loan provider that makes access to funds simple.

© Delmarva Funding LLC dba Credit Direct
Financial products
Credit Direct
Personal 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
1000.00 – 40000.00 $
Rate
i

Effective interest rate on the product

5.99 – 29.99 %
Term
i

Loan term for the financial product

12 months – 24 months
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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
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.

Recommended FinScore™
0
300
650
1000
100.00 – 4000.00 $
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.

4.25
(20 Ratings)
Recommended FinScore™
0
300
650
1000
to 1500.00 $
Rate
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Effective interest rate on the product

to 160.00 %
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