Pros
- Accepts bad credit
- Has both unsecured and secured loans
- No prepayment fees
- High BBB rating
- Co-applicants allowed
- 15 days guaranteed money back
Cons
- High APRs: 18.99% - 35.99%
- Late fee depends on state
- Not available to people without SSN
- Only available in 24 states
Mariner Finance Review Summary
Mariner Finance personal loans are best for people with bad credit. Mariner Finance has an interest rate range of 18.99% - 35.99%, which is higher-than-average but competitive among loans for people with poor credit. Mariner Finance also offers secured personal loans and allows co-signers. People with bad-to-fair credit may be able to get a rate on the low side through either of these methods.
Mariner Finance offers quick funding, too in as soon as 3 to 4 days after you apply. However, their loans are only available to people in 25 states. Below, you’ll see how WalletHub rates Mariner Finance personal loans in our three major categories: Terms, Requirements & Application, and Reviews & Transparency. You’ll also see a comparison to some similar lenders.
Mariner Finance Personal Loan Terms
 | |
| APRs | 18.99% - 35.99% |
| Loan Amount | $1,000 - $25,000 |
| Loan Terms | 12 - 60 months |
| Origination Fee | $0 |
| Prepayment Fee | $0 |
| Late Fee | Depends on state |
| Minimum Credit Score | Bad* |
| Minimum Income | Not disclosed |
| Loan Purpose | Debt Consolidation, Home Improvement, Big Purchase |
| Time to Receive Loan Money | 1 - 3 business days |
| Other Requirements |
|
Mariner Finance Personal Loan Interest Rates, Fees & Other Terms
Category Rating: 3.8/5
- Overall APR range: Mariner Finance offers fixed-rate personal loans with an APR range of 18.99% - 35.99%. These rates are comparable to what many other lenders may offer for applicants with bad credit.
- How rates are determined: Mariner Finance determines the exact rate you can get based on your credit history, income, existing debts, and applicable state laws, among other factors.
- Fees: Mariner Finance does not charge origination fees on personal loans, according to representatives from the company. Mariner Finance doesn’t have a fee for paying off a personal loan early, either. There are late fees, however, but they vary by state.
- Loan amounts & terms: Mariner Finance offers loan amounts between $1,000 - $25,000, and their loan terms range from 12 - 60 months.
Mariner Finance Personal Loan Requirements & Application Info
Category Rating: 4.3/5
- Minimum credit score: Not disclosed, but Mariner Finance does consider applicants with bad credit.
- Minimum income: Mariner Finance does not disclose minimum income requirements, though they do require proof of income when you apply.
- Age: You must be at least 18 years old.
- Citizenship: You must be a U.S. citizen, permanent resident, or immigration visa holder.
- Identification: You must have a Social Security number and a government-issued ID.
- Collateral: If you apply for a secured loan, you’ll need to provide collateral. Typically, Mariner Finance will ask to secure the loan with something that has a title, such as a car, ATV, motorcycle, or trailer, according to company representatives.
- 15-day satisfaction guarantee: Mariner Finance has a 15-day guaranteed money-back policy that allows you to return the loan within 15 days of funding without paying any interest or fees.
Mariner Finance Personal Loan Reviews & Transparency
Category Rating: 2/5
- Better Business Bureau: Mariner Finance isn’t BBB-accredited, but they still get an A+ from the Bureau.
- Consumer Financial Protection Bureau: The CFPB has records of around 269 complaints about Mariner Finance personal loans. Complaints include accounts being incorrectly reported as in default and loan insurance not being honored. Mariner Finance has a good track record of responding to complaints in a “timely” manner.
- WalletHub: Mariner Finance has an average user score of 3.6/5.
- Transparency: Mariner Finance is not very clear about the terms of their personal loans. They don’t provide overall ranges for their fees, and they don’t disclose minimum credit or income requirements. However, they do have a pre-qualification process, which can help people estimate their costs ahead of time.
While Mariner Finance has a generally good reputation with the BBB and customers who’ve reviewed the company, they get docked some points for the complaints against them and their subpar transparency about terms and requirements.
States Where You Can Get a Mariner Finance Loan
You can see if you’re pre-qualified for a Mariner Finance personal loan by clicking the “Check My Offers” button on their website and inputting some personal information along with details about how much money you need. Mariner Finance also sends out pre-qualified offers by mail. If you have an offer code, you can enter it on the same page on Mariner’s website. Pre-qualification won’t impact your credit score at all. Only submitting an actual loan application can lower your score. Mariner Finance lets applicants apply online, by phone or at one of their 450 branches, and they do allow co-applicants.
Mariner Finance gets a good score in this category because their loans are accessible and they offer pre-qualification as well as multiple ways to apply.
Summary: Mariner Finance Personal Loans Score by Review Category
| Category | Score |
|---|---|
| Rates, Fees & Other Terms | 3.8/5 |
| Requirements & Application Info | 4.3/5 |
| Reviews & Transparency | 2/5 |
| OVERALL | 10.1/15 |
Mariner Finance Personal Loans vs. Popular Competitors
| Info | Mariner Finance | OneMain Financial | Avant |
|---|---|---|---|
| Reviews | |||
| APRs | 18.99% - 35.99% | 18% - 35.99% | 9.95% - 35.99% |
| Loan Amounts | $1,000 - $25,000 | $1,500 - $20,000 | $2,000 - $35,000 |
| Loan Terms | 12 - 60 months | 24, 36, 48 or 60 months | 24 - 60 months |
| Minimum Credit Score | Bad* | Bad* | Bad* |
| Winner | Mariner Finance | ||
Methodology
In order to provide the most accurate Mariner Finance 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. Mariner Finance personal loan 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.
