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 300% – 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 ten 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 WalletHub’s rating for Integra in three major categories: Terms, Requirements & Application, and Reviews & Transparency.
Integra Credit Personal Loan Terms
|APRs||99% - 300%|
|Loan Amount||$500 - $3,000|
|Loan Terms||6 - 18 months|
|Late Fee||Varies by state|
|Minimum Credit Score||Not disclosed*|
|Minimum Income||Not disclosed|
|Time to Receive Loan Money||1 - 2 business days|
Integra Credit Loan Rates & Fees
Category Rating: 1.2/5
Integra Credit loans are very expensive, with the cheapest APR being 99% and the most expensive being 300%. 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 plenty expensive even without those fees, though.
Integra Credit offers small loans, from $500 to $3,000, and they give just 6 to 18 months for borrowers to pay them off.
Integra Credit receives a low score in this category overall because their APRs are simply beyond the range WalletHub considers to be acceptable. Integra’s lack of fees does little to make up for that. In addition, customers who want bigger loans or a more relaxed payoff period are out of luck.
Integra Credit Loan Requirements & Application Info
Category Rating: 3.3/5
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 does allow you to pre-qualify for a loan without affecting your credit score. 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.
WalletHub awards Integra Credit a decent rating in this category, as they score well for not having a hard credit pull, being available to people with bad credit and accepting non-citizens.
Integra Credit Reviews & Transparency
Category Rating: 2.5/5
- Better Business Bureau: Integra Credit’s parent company, Deinde Financial, gets an A+ from the bureau and became accredited in 2018.
- Consumer Financial Protection Bureau: Integra Credit isn’t listed in the CFPB database, but there are only four personal loan complaints listed against the parent company, Deinde Financial.
- WalletHub: Integra Credit receives an average user score of 4.7/5, which shows many customers are very satisfied.
- Transparency: Integra Credit states on their website that, “This is an expensive form of credit.” So they’re not trying to hide the fact. However, while their terms can be found, it is not easy to do so.
Although Integra Credit scores well for their reputation with consumer watchdog organizations, their lack of transparency on some terms drags them down a bit.
Integra Credit vs. Popular Competitors
|APRs||99% - 300%||36% - 65% (varies by state)||185% - 349%|
|Loan Amounts||$500 - $3,000||$1,000 - $10,000||$500 - $3,000|
|Loan Terms||6 - 18 months||6 - 60 months (varies by state)||8 - 30 months|
|Minimum Credit Score||Not disclosed*||Bad*||Not disclosed*|
In order to provide the most accurate Integra Credit personal loan review, 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. In the case of Integra Credit, we did not rely on a particular state.
- 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.
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