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Achieve Personal Loans: 2024 Review

Updated on Oct. 18, 2023
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At a glance

Bankrate 2024 Awards Winner: Best personal loan for debt consolidation

Rating: 4.7 stars out of 5
Bankrate Score
Caret Down
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 8.99% 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.

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Bankrate User Stats

Bankrate users taking out personal loans from Achieve have followed the below trends and stats:

  • Average funded loan amount: $25,365
  • Average funding time: 3.2 days
  • Amount of loans funded through Bankrate since 2022: 128
  • Popular loan purpose trends: 75% of Achieve borrowers on Bankrate take out personal loans to consolidate debt, more than any other loan purpose.

Best for borrowers with fair credit who want to consolidate debt

Achieve’s loans feature competitive starting APRs and a lower rate cap than other debt consolidation lenders. It also has a low minimum credit score requirement and offers joint loans, which can help borrowers with less-than-perfect credit secure a lower rate. This, along with its multiple rate discounts can make Achieve’s debt consolidation loans affordable for fair credit borrowers and even help them save money on interest.

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

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    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
8.99% 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
Loan Amount
Term Length
24 to 60 months
Min Credit Score
Rating: 4.7 stars out of 5
Bankrate Score
APR from
Loan Amount
Term Length
24-84 months
Min Credit Score

Achieve vs. Happy Money

Happy Money’s loans  feature similar loan amounts and repayment terms to those offered by Achieve. However, Happy Money’s loans are limited to credit card debt consolidation. Achieve’s loans, on the other hand, can be used to consolidate different types of unsecured debt or to make purchases. This makes Achieve’s loans more versatile when compared to Happy Money’s.

Read a full comparison of Achieve vs. Happy Money

Achieve vs. Upgrade

Upgrade’s application process is smoother than Achieve’s — you can complete it fully online, instead of having to go back and forth with a consultant over the phone or email. However, when it comes to rate discounts, Achieve has more to offer than Upgrade, which can make its loans more affordable.

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: Achieve offers same-day decisions, and funds are deposited within 24 to 72 hours after approval.
  • 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

Applying for a personal loan with Achieve is quick and easy, just follow the steps below when you’re ready.

Features and additional perks

Besides personal loans, Achieve offers a debt resolution program for those struggling with multiple types of unsecured debt. This program allows you to get out of debt faster, while potentially saving money on your outstanding balances.

Achieve is also one of the few lenders that offers multiple rate discounts. These include a discount for adding a qualified co-borrower, as well as one for showing proof of retirement assets and another one if you allow the company to pay to your creditors directly.

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.

Achieve frequently asked questions

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.