FAQ'S of Loan

How do I receive my loan? Direct deposit, wire transfer or check?

If you were accepted for an unsecured personal loan, you will receive your funds in the form of a check. You may be able to request that these funds be wire transferred to your account. If you were accepted for an emergency payday loan, your funds will be deposited directly into your banking account.

How soon can I expect a loan approval?

You can generally expect to receive notice of your approval within 48 business hours.

What should I do if it’s been 48 hours since I applied and I haven't heard anything?

If I am denied a loan is there a waiting period before I can reapply?

Yes, you must wait seven days or one week to reapply.

How will I know if I am approved or declined for a loan?

If you are approved for the loan you will be notified by email or by phone. If you are declined you will be sent an email and/or notified by US mail.

Should I contact Credit.com if I am approved for loan?

You do not need to contact Credit.com once you are approved for the loan; the lender who notified you of your approval will be your contact from that point forward. However if you have questions that your direct lender is not able to answer, please feel free to contact us at cs@credit.com.

I forgot who my lender is. How do I contact them?

Please send us an email at cs@credit.com including the email address you used for your application, first and last name and the type of loan you applied for and we will send you the contact information for your lender.

How do I cancel my loan?

When you are approved for the loan you will be contacted by one of our lenders. If you are no longer interested in the loan, simply decline their offer. You do not need to cancel your loan application with us.

How much does it cost to apply for a loan?

There are no fees for any of our loan services.

I would like a different lender. How do I switch?

If you would like a different lender please send an email request to cs@credit.com, we may be able to find you an alternative.

What is the difference between an emergency payday loan and a personal unsecured loan?

An unsecured personal loan allows you to borrow $1,000 to $10,000. These loans can be paid off in between one and six years. To qualify for the loan you must have a credit score of at least 580 (560 if a homeowner) or have a co-signer. Emergency payday loans allow you to borrow $100 to $1,000. The repayment term of these loans is very short, approximately two pay periods, however there is no credit check required for the application.

How much money can I borrow?

This depends on what type of loan you apply for, but in general the better your credit history and score, the easier it will be to borrow more money. The maximum amount of money you can request for when applying for an unsecured personal loan is $10,000. If you are a homeowner you could qualify for $15,000. If you apply for an emergency payday loan the maximum amount of money you can qualify for is $1,000.

Should I use a co-signer?

A co-signer is advisable if you have poor credit history or no credit history. Make sure that your co-signer has better credit standing than you. The idea is that your co-signer’s good credit will help bring up your poor credit. Be careful about choosing a co-signer, however. The records for the shared account, both good and bad, can appear on both your credit report for 7-10 years.

What will my interest rate be?

Your interest rate will depend primarily on three things: your credit score, how much you borrow, and the state you live in. Each state has different regulations governing interest rates. The general rule of thumb is that the better your credit score, the lower your interest rate will be.

What is a person-to-person loan?

A person-to-person loan is financing for a car that you want to purchase directly from an individual and NOT a dealership. To qualify for this type of loan you must have a good credit history and a credit score above 680.