Loans (US)
Universal Credit Personal Loan review
If you need to make a loan to improve your home, consolidate debt, or others, the Universal Credit personal loan can help you. Keep reading to know more!
Universal Credit Personal Loan: Low score requirements and credit building features!
The Universal Credit Personal Loan can be a great for those who need money for house improvement, pay off debt, or even for business purposes. Also, this lender offers access to your credit score and many more perks. So, keep reading our full review to know more!
| APR | Between 11.69% – 35.93%. |
| LOAN PURPOSE | Pay off your credit card debts, business-related expenses, home improvements, debt consolidation, major purchases, and others. |
| LOAN AMOUNTS | From $1,000 to $50,000. |
| CREDIT NEEDED | You need a score of at least 560 points. |
| TERMS | Three to five years. |
| ORIGINATION FEE | Ranges from 5.25% to 8.99% of the loan amount. |
| LATE FEE | $10 late fee. |
| EARLY PAYOFF PENALTY | No early payoff penalty. |
How to apply for the Universal Credit Loan?
Do you need a loan to pay off debt, make home upgrades, or pay for other expenses? Read more to know how to apply for an Universal Credit Loan!
How does the Universal Credit loan work?
Once you get your loan funds, you can have three to five years to repay. Also, you can change your payment date at any time. Moreover, you can get a 0.5% point rate discount if you can sign-up to make automatic loan payments.
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Universal Credit personal Loan benefits
Pros
- As a borrower, you can change your payment date to a date that best fits your needs.
- In case you want to set up autopay, you can get a 0.5% rate discount.
- When applying for a loan with this lender, you can get a rate discount in direct payments to creditors in case you made a loan to pay off debt.
- You can get free access to your credit score.
Cons
- If you need to make a co-signed, joint, or secured loan, you cannot do it through this lender. As it does not offer these options to its clients.
- This lender might charge an origination fee to manage your loans.
Should you apply for the Universal Credit Personal Loan?
If you are a United States resident and need to make a loan to pay off your credit card debt, or any other debt, pay for some business-related expense, make home improvements, or make any large purchase, this loan can be for you. However, if you need to make a joint, co-signed, or secured loan, this might not be the best lender for you.
Can anyone apply for a loan at Universal Credit?
To apply for a personal loan with this lender, you must be a United States resident, fit the credit score profile, and not be looking for a joint or secured loan option. Therefore, if you have the requirements, you can apply for a loan. However, be sure to check their terms before applying.
What credit score do you need for Universal Credit?
To make a loan with this lender, it is recommended that you have a credit score of at least 560 points. So, make sure that you can have a hard inquiry in your credit score before applying and that you read their applicable terms.
How to apply for the Universal Credit loan?
It can be very easy to apply online for a personal loan with this lender, and you can do it all through their website. So, if you want to know how to apply, check out our post below and find out!
How to apply for the Universal Credit Loan?
Do you need a loan to pay off debt, make home upgrades, or pay for other expenses? Read more to know how to apply for an Universal Credit Loan!
Victória Lourenço
Aline Barbosa
Senior Editor
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