Loans
Rocket personal loan full review
The personal loan from Rocket Loans is one of the most famous loans in the American market, but is it the one right for you? Let’s find out in this complete review!
Advertisement
by Aline Augusto
Rocket personal loan: low rates for those with good credit
Are you in doubt about what personal loan to bank? Do not worry, we’re here to help! Read this Rocket personal loan review and understand by pros and cons of why you should or shouldn’t hire this service.
| APR | 5.97% to 29.99% (with autopay discount of .25%) |
| Loan Purpose | Terms and Conditions apply |
| Loan Amounts | $2,000 to $45,000 |
| Credit Needed | 580 minimum |
| Terms | 36 or 60 months |
| Origination Fee | 1% – 6% |
| Late Fee | $15 |
| Early Payoff Penalty | None |
How to apply for the Rocket personal loans?
Achieve your goals with the help of Rocket personal loans! See how to apply for it and get the benefits.
Advertisement
How do the Rocket personal loans work?
The Rocket personal loan is the best loan for low credit rate people, it is suitable for lots of profiles. However, even with an easy prequalification process and with discounts for the ones that want to pay using autopay mode, it can have huge fees for lower credit level people. Even so, the APR of the Rocket personal loan is not that much higher if you compare it to other lenders from the market.
Rocket personal loans benefits
Besides its huge fees for lower credit rates, the personal loan of this company also offers lots of benefits. Let’s understand its pros and cons with a small explanation of each one below:
Advertisement
Pros
- Simple process of application: Just use a laptop, good internet and you are good to go. You can even have your funding on the same business day.
- Do not have prepayment fees: Pay your loan whenever you want and you won’t pay anything more for this
- Fast Money: If you borrow from Rocket Personal Loan, you can have your money as fast as one business day.
Cons
- High rates even for good credit: There are lots of loan business that offers their borrowers a better APR rate if they have good credit. With this in mind, it is very likely to one that has great credit find another bank to hire the loan service.
- Do not have a national availability: If you live in Iowa, Nevada, or West Virginia, unfortunately, the Rocket personal loan is not for you.
- Origination fee: The majority part of personal loans do not charge this fee anymore, so take this into consideration.
Advertisement
Should you apply for the Rocket personal loan?
If you are at least 18 years old (19 in Nebraska and Alabama) and you have a sufficient credit score, you should at least search more if this is the right loan for you. You should also have a minimum annual income of $24.000 for approval. Remember again to think about all its pros and cons before hiring their services.
Can anyone apply for a loan at Rocket personal loan?
Not everybody can apply for a loan at Rocket personal loan, but surely they have one of the best ranges of credit score.
What credit score do you need for Rocket personal loans?
If you have a credit score that is higher or equal to 580, the origination fee is not a problem for you, so you surely can apply for the loan.
How to apply for a Rocket personal loan?
If after this review you are sure that this loan is for you, check out this article about how to apply with Rocket personal loan.
How to apply for the Rocket personal loans?
Achieve your goals with the help of Rocket personal loans! See how to apply for it and get the benefits.
Aline Augusto
Aline Barbosa
Senior Editor
Trending Topics
How to apply for the Wise debit card?
Check out how the Wise card application works, and start making purchases, sending, and receiving international money with the best rates!
Keep Reading
How to join Checkmyfile?
If you are looking for a credit score monitoring platform in the UK, check out our post about how to join Checkmyfile!
Keep Reading
PolicyMe Term Life Insurance Canada Review: is it trustworthy?
Check out the PolicyMe Term Life Insurance Canada review: learn how it works, find out if it is trustworthy and how to save with insurance.
Keep ReadingYou may also like
Learn to apply easily for QuickLoanLink
Do you need a loan for an emergency or other purpose? If you, you can find it with QuickLoanLink! Read our post to learn how to apply for QuickLoanLink!
Keep Reading
Capital One Quicksilver Cash Rewards Credit Card review: is it worth it?
Learn all there is to know about the Capital One Quicksilver Cash Rewards, a credit card with a $0 annual fee, low rates, and a cash sign-up bonus!
Keep Reading
American Express Centurion or American Express Platinum card: choose the best!
American Express has two options for travel cards. The American Express Centurion is the top ultra-exclusive black card. On the other hand, one of the most reliable credit cards is the American Express Platinum. This article is a full review comparing both travel credit cards by Amex!
Keep Reading