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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.
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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.
Quick funding
Pay off your loan early
Joint loans
High minimum loan amount
Origination fee
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.
Before applying for a personal loan with Achieve, ensure you meet the following eligibility criteria:
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.
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.
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.
There are many features of Achieve personal loans that attract consumers, but drawbacks should also be considered to make an informed decision.
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.
When you’re ready to apply for a personal loan with Achieve, here’s how to get started:
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.
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:
Editorial disclosure: All reviews are prepared by Bankrate.com 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.