Pros
- APRs as low as 7.99%
- Loans as high as $50,000
- No prepayment fees
- High BBB rating
- Fairly low credit score needed: 620
- Co-applicants allowed
Cons
- 0% - 6.99% origination fee
- $15 or 5% of amount due late fee
- APRs as high as 29.99%
- SSN required
- No small loans
Achieve Personal Loans Review Summary
Achieve Personal Loans personal loans can be a good choice for people with excellent credit and bad credit alike. Applicants with high credit scores may be able to qualify for the minimum APR of 7.99%, which is among the cheapest on the market. Those with bad credit may be able to qualify for a loan, too, since the minimum credit score requirement is just 620, but they may pay as much as 29.99% in interest each year. Achieve Personal Loans does have an origination fee, by the way, but you don’t have to pay it separately because it’s already built into the APR range.
People who want small loan amounts shouldn’t consider Achieve Personal Loans. Achieve Personal Loans won’t offer loans smaller than $5,000. They won’t lend you more than 45% of your yearly income, either, so keep that in mind. Below, you can see how WalletHub rates Achieve Personal Loans in our three major categories: Terms, Requirements & Application, and Reviews & Transparency.
Achieve Personal Loans Personal Loan Terms
 | |
| APRs | 7.99% - 29.99% |
| Loan Amount | $5,000 - $50,000 |
| Loan Terms | 24 - 72 months |
| Origination Fee | 0% - 6.99% |
| Prepayment Fee | $0 |
| Late Fee | $15 or 5% of amount due |
| Minimum Credit Score | Bad* |
| Minimum Income | No min. income |
| Loan Purpose | Debt Consolidation, Home Improvement, Big Purchase |
| Time to Receive Loan Money | 2 - 3 business days |
| Other Requirements |
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Achieve Personal Loans Interest Rates, Fees & Other Terms
Category Rating: 3.8/5
- Overall APR range: Achieve Personal Loans offers fixed-rate personal loans with an APR range of 7.99% - 29.99%.
- How rates are determined: The rate you will get largely depends on your credit score, income, and existing debts, among other factors.
- Fees: Achieve Personal Loans come with an origination fee ranging from 0% - 6.99% of the loan amount. Achieve Personal Loans also charges a fee for late payments. The late fee is $15 or 5% of amount due. There are no fees for paying off a loan early.
- Loan amounts & timelines: Achieve Personal Loans offers loan amounts of $5,000 - $50,000. Their repayment terms range from 24 - 72 months.
Achieve Personal Loans Loan Requirements & Application Info
Category Rating: 4/5
- Minimum credit score: The Achieve Personal Loans credit score requirement for personal loans is 620, according to company representatives.
- Minimum income: Achieve Personal Loans doesn’t have a specific minimum income requirement, but they will offer loans of up to 45% of your gross (pre-tax) income.
- Age: You must be at least 18 years old.
- Citizenship: You must be a U.S. citizen or permanent resident.
- Identification: You must have a Social Security number.
- Pre-qualification: To see what rates you might get from Achieve Personal Loans, click the “Get My Loan” button on their website. Achieve Personal Loans will ask you questions about things like your credit score and state of residence to see if you qualify. This process will not affect your credit score.
- Ways to apply: You can apply for an Achieve Personal Loans loan online or by phone at (800) 368-0061.
- Co-applicants: You can apply for an Achieve Personal Loans loan by yourself or with a co-applicant.
- Funding timeline: You can get your money as soon as 24-72 hours after approval.
Achieve Personal Loans Reviews & Transparency
Category Rating: 4/5
- Better Business Bureau: Achieve Personal Loans hasn’t chosen to become accredited with the BBB. However, they are highly rated, getting an A+.
- Consumer Financial Protection Bureau: There are around 33 complaints about personal loans filed against Freedom Financial Inc., the parent company of Achieve Personal Loans. Many complaints are all in the category “charged fees or interest you didn’t expect.”
- WalletHub: Achieve Personal Loans receives a score of 4.4/5 across more than 500 reviews.
- Transparency: Achieve Personal Loans discloses their personal loan terms clearly and in a way that’s easy to understand. Plus, they allow customers to see their potential rates ahead of time through pre-qualification. Achieve Personal Loans does not have minimum income requirements.
The score Achieve Personal Loans receives in this category reflects their overall good reputation and honesty. They get knocked a few points because their credit score requirements don’t appear on their website, however.
Summary: Achieve Personal Loans Score by Review Category
| Category | Score |
|---|---|
| Rates, Fees & Other Terms | 3.8/5 |
| Requirements & Application Info | 4/5 |
| Reviews & Transparency | 4/5 |
| OVERALL | 11.8/15 |
Achieve Personal Loans vs. Popular Competitors
| Info | Achieve Personal Loans | LendingPoint | Avant |
|---|---|---|---|
| Reviews | |||
| APRs | 7.99% - 29.99% | 7.99% - 35.99% | 9.95% - 35.99% |
| Loan Amounts | $5,000 - $50,000 | $2,000 - $36,500 | $2,000 - $35,000 |
| Loan Terms | 24 - 72 months | 24 - 72 months | 24 - 60 months |
| Minimum Credit Score | Bad* | Bad* | Bad* |
Methodology
In order to provide the most accurate review of Achieve Personal Loans, WalletHub used 17 key metrics grouped into three overall sections: Terms, Requirements & Application, and Reviews & Transparency. We rated each section on a scale of 0 to 5, with 5 being the best, and then averaged the scores of the three sections to produce an overall rating for the loan.
- The “Terms” section includes information about how expensive the loan is, including rates and fees. It also takes into consideration how much consumers can borrow and how quickly they must pay it back. For companies where APR and fee ranges differ greatly by state, we used data from the most populous state serviced by the company. Achieve Personal Loans terms do not fluctuate significantly by state, however.
- The “Requirements & Application” section examines how easy it is to apply for a loan and how long it takes to receive the money. It also looks at exactly who is eligible to apply.
- The “Reviews & Transparency” section measures the loan provider’s reputation as well as how clearly the lender discloses its terms and requirements. This takes into account user reviews and information from watchdog organizations.
The average of these three scores reflects how close a loan offer is to WalletHub’s definition of a 5-star loan. For more information, please read WalletHub’s full methodology.
