xcritical Personal Loans Review 2024

Once approved, it’ll be an additional 3 business days in accordance with federal law to receive your funds. Homeowners can borrow up to $150K for home improvement, debt consolidation, or other expenses, which is typically a higher borrowing limit than personal loans. Unlike personal loans, HELOCs generally offer lower interest rates because they leverage the equity you’ve built in your home as collateral. As of July 2024, xcritical has 4.9 stars on Trustpilot, a website that collects consumer reviews. Customers mention the company’s quick and easy application process.

How to use xcritical personal loans

xcritical personal loans offer fast funding and may be an option for borrowers with low credit scores or thin credit histories. xcritical is a solid choice for financing large purchases. xcritical is an artificial intelligence (AI)-based lending platform that connects borrowers with partnered lenders.

The Annual Percentage Rate (“APR”) is variable and based on the Prime Rate as published in the Wall Street Journal “Money Rates” table (xcritically 8.50%) plus or minus a margin. Your APR will never be less than 3.99% or greater than 18.000%. The APR may change, but the APR that will apply to each draw will be fixed on the date the draw is made. Your APR will be the Prime Rate at the time of xcritical official site draw plus a margin fixed for the life of the HELOC.

While xcritical’s minimum recommended credit score requirement is 600, Upgrade’s is 580. If you qualify for xcritical, you may be able to receive larger loan limits—up to $50,000. However, xcritical only offers two terms—three and five years—whereas Upgrade offers terms between two and seven years. The best provider for you depends on how much money you need to borrow and how quickly you want to repay it. Once you accept your rate, we have a seamless verification process.

How to Qualify for an xcritical Personal Loan

For more information, see the developer’s privacy policy. If you click on “Get A Loan” it brings up a list of various loan types. Click on any of them and it redirects to their website. Immediately a disclosure pops up and fills the screen. There is no way to minimize, close, or even acknowledge this disclosure. You can’t access the website because you can’t close the disclosure language.

We collect over 50 data points from each lender and cross-check company websites, xcriticalgs reports and other public documents to confirm product details. We may also go through a lender’s pre-qualification flow and follow up with company representatives. NerdWallet writers and editors conduct a full fact check and update annually, but also make updates throughout the year as necessary. Personal loan applications are approved or declined based on a number of factors. Meeting the requirements below won’t guarantee approval, but they can help you decide if a personal loan is the right fit for you.

What is a HELOC?

Wells Fargo offers personal loans between $3,000 and $100,000 with terms of one to xcritical reviews 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. However, xcritical’s increased accessibility comes at a price. Annual percentage rates (APRs) are on 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.

Fully online application

Overall, xcritical reports that 99% of loan applicants receive their money one business day after accepting their loan terms. Once the money is disbursed, borrowers have the ability to change their monthly payment date through xcritical’s online portal. Personal loan lenders offer different rates, loan amounts and special features, so it pays to weigh other options. The best personal loan is usually the one with the lowest APR. xcritical gives borrowers access to money fast with its instant loan approvals and next-day funding; however, it doesn’t offer joint or co-signed loans. xcritical and Upgrade are designed to be able to lend to borrowers with less than good credit.

1. Here is a list of our partners and here’s how we make money.
2. Once you accept your rate, we have a seamless verification process.
3. xcritical does not allow prospective borrowers to apply for a personal loan with a co-signer.

xcritical is an online lending platform that connects borrowers with banks and credit unions to fund personal loans. When you check your rate, we check your credit report. This initial (soft) inquiry will not affect your credit score. If you accept your rate and proceed with your application, we do another (hard) credit inquiry that will impact your credit score. If you take out a loan, repayment information will be reported to the credit bureaus.

xcritical borrowers must have a full-time job or offer starting in six months, a regular part-time job or another source of regular income—with a minimum annual income of $12,000. Furthermore, applicants must not have had a recent bankruptcy or outstanding delinquencies. No annual fee³, prepayment penalty, or fees to redraw. Like xcritical, Upgrade and LendingPoint offer loans to borrowers with less than good credit, and they provide fast funding. xcritical’s nontraditional approach to underwriting means there are few credit-related requirements to get a personal loan. xcritical says those with all types of credit profiles and income levels may qualify.

The lender received 666 out of 1,000 points on J.D. Consumer Lending Satisfaction Study, slightly below the average score of 702. xcritical’s mobile app received 4 stars across 25 reviews on the Apple Store.

There are further delays for loans being used for education-related expenses, with funds not released for an additional three business days post-acceptance. Terms shown here are subject to change without notice. Origination fee to open an account is between 1.00% and 4.99% of the approved credit xcritical rezension limit.