Yes, you can pay off Citizens One loans early, which is a smart idea because it will save you money on interest. Citizens One does not charge a prepayment penalty, meaning that you will not be charged extra if you pay off the loan sooner than you’re required to.
Example of How Much You Can Save By Paying Off a Citizens One Personal Loan Early
Situation: A $10,000 loan with a repayment period of 4 years, an APR of 18% and an origination fee of 0%.
Normal Payments: You will spend approximately $4,100 on interest.
Early Pay Off: If you pay off the loan in 3 years, you will save about $1,086 on interest.
Yes, Citizens One does a hard inquiry when you apply for a loan. This credit report inquiry will likely drop your credit score by about 5 to 10 points, but you'll be able to get back on track with a few months of on-time payments.
Citizens One's hard inquiry will stay on your credit report for two years, but it won't affect your credit after one year, and the impact may subside before then. To see how your individual credit score may be affected by a hard inquiry, you can use the … read full answercredit score simulator on WalletHub.
If you're looking for a lender that does not do a hard inquiry at all, you could consider Opploans, LendUp and NetCredit.
It is not very difficult to get a personal loan from Citizens One because they offer personal loans for people with credit scores as low as 680+. Other Citizens One personal loan requirements include being at least 18 years old, having an SSN, and having enough income to afford monthly loan payments.… read full answer
Citizens One Personal Loan Requirements
Minimum Credit Score: 680+ credit score
Minimum Income: $24,000 minimum income
Age: 18+ years old
Residency: U.S. citizen or permanent resident
Identification Type: SSN
Once you make sure you've met all the requirements for a Citizens One personal loan, you should have a good chance of approval. However, the exact interest rate you receive will depend on factors such as your credit score, income and debt.
You can use WalletHub's free pre-qualification tool to see if you're likely to get approved and what rates you could get. Plus, it won't hurt your credit.
Yes, Citizens One will verify your income when you apply for a personal loan. Citizens One requires a minimum annual income of $24,000 to ensure that you can make your monthly payments, and if you don't meet the minimum income requirement, you likely won't get approved.
Citizens One verifies income by requesting your most recent paystub. However, simply meeting the income requirement does not guarantee approval for a loan. There are other Citizens One personal loan requirements, as well.… read full answer
Citizens One Personal Loan Requirements
$24,000 annual income
Be at least 18 years old
Be a US citizen or permanent resident
Have a Social Security number
Have a credit score of 680 or higher
If you want a better idea of what personal loans you may qualify for with your income, you can use WalletHub's free pre-qualification tool.
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