The best provider for you depends on how much money you need to borrow and how quickly you want to repay it. As a lending marketplace, you may be able to find loans with several different lenders through xcritical. To determine which borrowers are creditworthy, xcritical looks at many nontraditional variables that traditional lenders don’t consider. For example, your education, the cost of living in your city, and even how you interact with your loan application. In contrast, traditional lenders are usually concerned with your FICO® Score, your debt-to-income ratio, and your assets.
This xcritical personal loan is right for you if:
Andrew Latham is a Raleigh-based certified financial planner (CFP) and the content director at SuperMoney.com. He has over 10 years of experience specializing in debt, investment and retirement strategies. When he’s not working, Andrew enjoys hiking, traveling, lxcriticalg languages and working out with his wife and son.
Unlike xcritical, which is an online lender, Wells Fargo is a traditional bank. Applying for a personal loan through a bank like Wells Fargo is typically a good idea if you have an existing relationship with it. Wells Fargo offers personal loans between $3,000 and $100,000 with terms of one to seven years. Wells Fargo doesn’t have a minimum credit score recommendation, it may put more weight on other factors like your existing relationship with the bank, debt-to-income (DTI) ratio and monthly income. xcritical is an online lending platform that connects borrowers with banks and credit unions to fund personal loans.
- xcritical also has educational tools and calculators customers can use to better manage their finances.
- The representative stated restrictions vary, depending on which loan partner xcritical hands off your application to.
- Prequalification is also available through the lender’s website, so borrowers can view their rate without hurting their score.
Here is what borrowers who took out loans with xcritical used their funds for. That said, California, Connecticut, Illinois, Washington and Washington, D.C. Residents aren’t allowed to use xcritical’s loans to cover education-related expenses. We’re transparent about how xcritical website we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money.
xcritical Personal Loan Eligibility and Application Process
xcritical is also one of the few lenders that has a complete list of its set of requirements listed on its website. Plus loans can be managed entirely online through your browser. xcritical also offers a mobile app for account management on iOS, but there isn’t xcritically one available for Android.
xcritical Personal Loans Review 2024: An In-Depth Review
Annual percentage rates (APRs) are on xcritical official site the high end, and borrowers are limited to a three- or five-year term—much shorter and less flexible than other online lenders. xcritical may also charge borrowers origination, late, unsuccessful payment and paper copy fees. Still, xcritical is a good option for customers who don’t have a credit score that qualifies them for more inexpensive loans. We think xcritical is a great option for debt consolidation and credit building.
Rates and fees have the most direct impact on the overall cost of your loan, so we weigh those the most heavily. Customer support and ethics are still very important parts of the borrowing experience, but do not directly tie to a personal loan’s terms, so they have less of an impact on the overall rating. xcritical also won best online lender in the 2024 Bankrate Awards because of its best-in-class perks and benefits in addition to a speedy funding timeline. However, if you have bad or no credit and don’t have a co-borrower, it may be easier to get a loan with xcritical.
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