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Achieve Personal Loans: 2023 Review

Updated on April 17, 2023
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At a glance

Rating: 4.7 stars out of 5
Bankrate Score
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Rating: 4.8 stars out of 5
Rating: 4.6 stars out of 5
Customer Experience
Rating: 4.9 stars out of 5
Rating: 4.6 stars out of 5

About Bankrate Score

Whether you need money to consolidate credit card debt, make some home improvements or make a large purchase, an Achieve (formerly known as FreedomPlus) personal loan can help you do it.

Loan amount $5,000 to $50,000
APR from 7.99% to 35.99%
Clock Wait
Term lengths 24 to 60 months
Credit Good
Min Credit Score 620
This lender is best for borrowers with fair credit who want to consolidate debt.

Achieve pros and cons

Achieve features flexible personal loan solutions with competitive terms, even if you have less than perfect credit.
Here's a breakdown of some of the benefits and drawbacks of Achieve personal loans.


  • Checkmark

    Quick funding

  • Checkmark

    Pay off your loan early

  • Checkmark

    Joint loans


  • Close X

    High minimum loan amount

  • Close X

    Origination fee

  • Close X

    Only available in some states

The lender offers loans of up to $50,000 with competitive interest rates and quick approvals that can get the money in your account in as little as 24 hours. Depending on the size and length of your loan, though, you may be on the hook for an origination fee of up to 6.99 percent. Here’s what you need to know about Achieve personal loans before you apply.

Do you qualify?

Before applying for a personal loan with Achieve, ensure you meet the following eligibility criteria: 

  • Availability: Achieve personal loans aren't available to residents of all states.
  • Income requirements: It varies by the desired loan amount. 
  • Co-signers and co-borrowers: Co-borrowers are allowed if you have a lower credit score and want to boost your approval odds. 

What Achieve doesn't allow funds to be used for

Achieve doesn’t disclose usage limitations for personal loans. However, its website does state these loans are commonly used to consolidate debt, refinance high credit card balances, finance big-ticket purchases, cover home improvement expenses, pay for medical and moving expenses, fund vacations and more. 

How this lender compares

Rating: 4.7 stars out of 5
Bankrate Score
APR from
7.99% to 35.99%
Loan Amount
$5,000 to $50,000
Term Length
24 to 60 months
Min Credit Score
Rating: 4.5 stars out of 5
Bankrate Score
APR from
11.52% – 24.81%
Loan Amount
$5,000 – $40,000
Term Length
24 to 60 months
Min Credit Score
Rating: 4.7 stars out of 5
Bankrate Score
APR from
8.49% - 35.99%
Loan Amount
$1,000 – $50,000
Term Length
24-84 months
Min Credit Score

Achieve vs. Happy Money

Like Achieve, Happy Money offers personal loans starting at $5,000. But their loans are solely designed to help you pay off credit card debt. The amount you can borrow is capped at $40,000 but the starting APR with Happy Money is higher at 11.52 percent. However, both lenders offer the same repayment periods — between two and five years. You can also expect to pay an origination fee if you choose Achieve or Happy Money to get access to cash. 

Read a full comparison of Achieve vs. Happy Money

Achieve vs. Upgrade

Upgrade’s pricing range on personal loans is similar to what you’ll find with Achieve — between 8.49 percent and 35.99 percent. It also offers a smaller minimum loan amount of $1,000, which could be more ideal if you need to make a small purchase or cover a minor financial emergency. Upgrade does charge an origination fee of up to 9.99 percent, which could make this loan more costly for you. The upside is you can get a loan term of up to 84 months to possibly make the monthly payment more affordable, although you’ll pay more in interest over time.

Read a full comparison of Achieve vs. Upgrade

Achieve: in the details

What we like and what we don't like

There are many features of Achieve personal loans that attract consumers, but drawbacks should also be considered to make an informed decision.

What we like:

  • Quick funding: You may be able to get same-day approval for an Achieve loan, and the lender may deposit money into your account within 24 to 72 hours. Funding time will vary based on when the application is submitted and if additional documentation is needed.
  • Pay off your loan early: Because Achieve charges no prepayment fees, you have the flexibility to pay off your loan early and save on interest costs.
  • Joint loans: Unlike some online lenders, Achieve allows you to add a co-borrower to your loan, which may increase the likelihood of you being approved if you have less-than-excellent credit.

What we don't like:

  • High minimum loan amount: The minimum amount you can borrow is $5,000 — $11,000 in Arizona — which is considerably higher than similar lenders’ lowest amounts.
  • Origination fee: Depending on your loan amount and repayment terms, you may be charged an origination fee between 1.99 percent and 6.99 percent, which will be pulled from your loan proceeds.
  • Limited availability: Loans are currently unavailable to consumers in Colorado, Connecticut, Kansas, Maryland, North Dakota, Vermont, West Virginia, Wisconsin and Wyoming.

How to contact Achieve

Customer support is available by phone at 800-920-0045. You can speak with a representative Monday through Friday from 6 a.m. until 8 p.m. MT and on Saturday and Sunday from 7 a.m. until 4 p.m. MT.

How to apply for a loan with Achieve

When you’re ready to apply for a personal loan with Achieve, here’s how to get started: 

  • Step 1: Get prequalified. You can apply online through the Achieve website or by calling a loan consultant. To start the process, enter your loan amount and purpose and then your state to check if the lender operates where you live. If it does, you’ll need to provide your name, employment status, income level, address and date of birth.
  • Step 2: Connect with a loan consultant. Achieve will then run a soft inquiry on your credit report to see if you’re prequalified for the amount you requested. If you are, you’ll be given a phone number so you can speak with a loan consultant to complete the application process.
  • Step 3: Receive formal loan approval. If you’re approved after a hard credit check, you’ll need to provide a valid ID, income and bank account verification and sign the loan contract to complete the process.
  • Step 4: Seal the deal. Before you sign a contract, though, compare what Achieve has to offer with personal loan rates from other top lenders.

Fees and penalties

Achieve doesn’t charge an application fee or prepayment fee, so you don’t have to worry about a penalty if you pay off the loan early. There is, however, an origination fee of 1.99 percent to 6.99 percent although most borrowers only pay 4.99 percent.

Achieve frequently asked questions

Get Prequalified for a Personal Loan

Answer a few questions to see which personal loans you pre-qualify for. The process is quick and easy, and it will not impact your credit score.

How Bankrate rates Achieve

Overall Score 4.7 Explanation
Availability 4.8 Achieve offers quick approval and funding, but its minimum loan amount is high.
Affordability 4.6 Achieve's minimum APR and fees are not unreasonable, though they are higher than similar lenders.
Customer Experience 4.9 You can apply for your loan completely online, and Achieve offers customer service on weekends.
Transparency 4.6 Not all credit requirements are listed, but Achieve offers prequalification.


To select the top personal loan lenders, Bankrate considers 20 factors. These factors include credit requirements, APR ranges, fees, loan amounts and flexibility to account for a wide range of credit profiles and budgets. Bankrate reviewed over 30 lenders and gave each a Bankrate rating, which consists of four categories:

  • Availability: What the minimum loan amounts are, its eligibility requirements and loan turnaround are considered in this category.
  • Affordability: The interest rates, penalties and fees are measured in this section of the score. Lower rates and fees and fewer potential penalties result in a higher score.
  • Customer experience: This category covers customer service hours, if online applications are available, online account access and mobile apps.
  • Transparency: This category is measured by how accessible credit requirements, rates and fees are on the lender's page. We also took into account whether prequalification was available, as all these factors are key for consumers to make an informed decision.

Editorial disclosure: All reviews are prepared by staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the lender’s website for the most current information.