2020 Integra Credit Review – Personal Loans
Integra Review Summary: Integra Credit offers expensive personal loans that are available to people with credit scores in the bad credit range. Integra’s main selling point is that they don’t do a credit check during the application process. That means they offer easy approval without any harm to your credit score. However, Integra Credit’s APRs – which range from 99% to 299% – far exceed the rates charged by the average personal loan.
Integra Credit’s scope is also incredibly limited, as they only offer personal loans in nine states:
- New Mexico
- South Carolina
People who can apply will get a quick decision and funding in as little as one business day. So, Integra Credit could be a viable last option. But customers should definitely shop around and try to get pre-qualified with cheaper lenders first. Below, you’ll find more specific details about Integra Credit loans, along with info on better deals from other lenders.
Integra Credit Personal Loan Terms
|APRs||99% - 299%|
|Loan Amount||$500 - $3,000|
|Loan Term||36 months|
|Credit Score Requirement||Bad*|
|How long does it take to receive the funds?||N/A|
Integra Credit Loan Rates & Fees
Integra Credit loans are very expensive, with the cheapest APR being 99% and the most expensive being 299%. The exact possibilities within that overall range can vary by state. While Integra Credit brands their loans as “personal loans,” their APRs are closer to those offered by “payday loans,” where you pay from your next paycheck. Most personal loans on the market have maximum APRs of less than 36%. Integra Credit’s APRs are always fixed. In other words, they won’t change over time.
The only major fee that Integra credit charges is a late fee, but it varies widely by state. For example, Alabama residents pay $18 or 5% of the payment amount, while California residents pay a flat $10. In most states, you will have a 10 to 15-day grace period to pay before the late fee gets charged.
However, Integra credit does not charge an origination fee or a penalty for paying a loan off early. Their loans are still expensive even without those fees, though.
Integra Credit Loan Requirements & Application Info
Integra Credit does not disclose a minimum credit score requirement for their personal loans, but they state on their website that they consider people with bad credit. In addition, they do not do a “hard pull” of your credit during the application process.
To qualify for an Integra Credit personal loan, you must 18 years old or older and either a U.S. citizen or permanent resident of the U.S. with a Social Security number. You’ll also need to have a bank account in the U.S. Most importantly, you’ll need to live in one of the nine states in which Integra Credit offers loans: AL, CA, DE, ID, MO, NM, SC, UT or WI. Integra Credit does not state a minimum income requirement.
Integra Credit doesn’t allow you to pre-qualify for their loans. But the point is kind of moot considering they don’t do a credit check when you apply. So you can apply and then accept or reject your loan offer all without hurting your credit score. To submit a loan application, use the online form or call 855-345-5550. Integra Credit only has individual applications; they do not accept joint applications.
Integra Credit Reviews & Transparency
Even Integra Credit states on their website that, “This is an expensive form of credit.” So they’re not trying to hide the fact. Integra Credit also has a good reputation with the BBB.
- Better Business Bureau: Integra Credit’s parent company, Deinde Financial, gets an A+ from the bureau and became accredited in 2018.
- WalletHub: Because of how expensive Integra Credit personal loans are, WalletHub awards them 0.5/5 stars.
Despite their transparency, LendUp still isn’t a good option due to the high cost of borrowing from them.
Integra Credit vs. Popular Competitors
|APR||99% - 299%||9.95% - 35.99%||5.99% - 29.99%|
|Loan Amounts||$500 - $3,000||$2,000 - $100,000||$10,000 - $40,000|
|Loan Term||36 months||24, 36, 48 or 60 months||24, 36, 48 or 60 months|
|Credit Score Required||Bad||Bad||Good|
WalletHub’s editors created an overall rating by first grading Integra Credit in seven big categories: loan amounts, fees, APR, loan requirements, the application process, customer satisfaction and transparency. Within these categories were many more specific metrics, which you can see below.
- Loan amounts: WalletHub took a look at how much you can borrow from Integra Credit and how long you can take to repay your loan.
- Fees: We found out information on what fees Integra Credit charges on their loans.
- APR: This category included both Integra Credit’s interest rates and the question of whether those rates are fixed/variable.
- Requirements: WalletHub searched for Integra Credit’s minimum requirements, including minimums for income and credit, plus whether you need U.S. citizenship and an SSN.
- Application process: This category included pre-qualification, how to apply, whether joint applications are available and the amount of time it takes to get approved and funded.
- Customer satisfaction: We looked at Integra Credit’s BBB rating, the amount of complaints filed against them with the CFPB, and reviews on WalletHub.
- Transparency: This category measured Integra Credit’s clarity on how to qualify, along with the transparency of their rates and fees.
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