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3YearLoans payday loan connection service review

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Potentially find a suitable short-term loan based — but be aware of the risks first.

When you’re searching for a short-term loan, a connection service like 3 Year Loans may make things easier. With one online form, you could be connected to multiple lenders. But the lack of transparency on its website — along with subpar ratings — means you might want to consider other options as well.

What is 3 Year Loans?

3 Year Loans is a connection service. You don’t have to pay for its services, and once you submit an online form, you may be connected with one or more lenders that can work with you despite limited income or bad credit. Unfortunately, the specifics aren’t exactly discussed by 3 Year Loans itself. Your loan term, along with the amount you can borrow, is quite difficult to find.

Only residents living outside of Arkansas, New York, Vermont and West Virginia are able to use 3 Year Loans’ services.

What are the benefits of using 3 Year Loans?

  • Variable loan amount. Lenders in 3 Year Loans’ network offer loans up to $10,000. However, the maximum you qualify for depends on factors such as the selected lender, your creditworthiness and your ability to repay.
  • Variable loan term. Despite its name, 3 Year Loans may be able to connect you to a lender offering a term as short as 60 days. And in some cases, you may even qualify for a term lasting longer than three years.
  • Bad credit is OK. You don’t need the best credit to use 3 Year Loans. The lenders in its network accept applications from individuals with bad credit, so no matter where you sit on the credit spectrum, you may still qualify.

What to look out for

  • No customer service line. Although it has a phone number, this leads to a phone application — not customer service. If you need to get in contact with 3 Year Loans, you’ll have to fill out its online form and wait for a response.
  • Unclear website. The 3 Year Loans website is covered in typos and unclear language, which raises some red flags for us. On top of this, there isn’t much information about the loan process or its network.
  • Must enter banking info. Like many connection services, 3 Year Loans requires you to enter your banking information when you fill out its online form. And if you’re not connected with a lender, that information can still be used as a potential lead for third parties.

Compare 3 Year Loans to similar connection services

Rates last updated March 24th, 2019
Name Product Min. Credit Score Max. Loan Amount APR Product Description
Monevo Personal Loans
3.99% to 35.99% (fixed)
Quickly compare multiple online lenders with competitive rates depending on your credit.
Credible Personal Loans
Good to excellent credit
5.34% to 35.99% (fixed)
Get personalized rates in minutes and then choose a loan offer from several top online lenders.
Even Financial Personal Loans
3.84% to 35.99% (fixed)
Get connected to competitive loan offers instantly from top online consumer lenders.
LoansUnder36 Personal Loans Connection Service
All credit types welcome
5.99% to 35.99% (fixed)
Its network of lenders cap APRs at 36%.
LendingTree Personal Loans
Varies by lender (fixed)
Receive up to five loan offers in just minutes through LendingTree's simple online form.

Compare up to 4 providers

Must read: Beware of unclear terms

3 Year Loans doesn’t exactly provide much information upfront, which can turn many borrowers off — especially those who have
read up on what a scam looks like. Because it isn’t transparent with its terms, you may find that the lenders you’re connected with don’t suit your needs. In addition, its privacy policy states that your personal information can be sold to third-party marketers. This isn’t abnormal for a connection site, but you may want to consider your other options before you commit.

Is it safe to apply for a payday loan through 3 Year Loans?

Although its website is has a valid security certificate and is protected by SSL encryption, you may want to think twice about giving 3 Year Loans your personal or financial information. Other review sites have stated that 3 Year Loans went out of business, but it’s still up — which might not be the best sign. And since 3 Year Loans is a matching service, your information will be shared with third parties to connect you with a loan offer. Be sure to read the privacy policy to understand how your information is stored and shared.

What does the Internet say about 3 Year Loans

3 Year Loans isn’t accredited by the Better Business Bureau (BBB) and receives an F rating based on its failure to resolve complaints filed against it and its lack of competency license. 3 Year Loans also does poorly on Trustpilot, earning a 4.7 out of 10. It might seem like a decent score, but there has only be one review since 2016 — another bad sign. Its 300 reviews were split down the middle. Some customers praised 3 Year Loans for being fast and having excellent customer service while others complained about not being able to find a three-year loan and only getting connected to payday loans.

Am I eligible?

You’ll need to meet at least three requirements in order to fill out 3 Year Loans’ online form.

  • You must have a regular source of income
  • You must be a US citizen or permanent resident
  • You must be at least 18 years old

In addition to these, you’ll also need to provide some basic information about yourself, including:

  • Desired loan amount and purpose of loan
  • Your name, home address, email address and phone number
  • Time spent at current residence
  • Your date of birth and social security number
  • Your credit rating — an estimate is fine
  • Time employed as well as your employer’s name and contact details
  • Annual income and pay frequency
  • Bank account details

How do I get connected with a lender?

3 Year Loans keeps its process simple. Its online form is just one page, and as long as you have the information you’ll need ready, it should only take a few minutes to fill out.

It may take a few minutes for 3 Year Loans to process your request.

I was connected with a lender. Now what?

Once you’re redirected to a lender’s website, you’ll have to submit a full application. The lender will review it and determine if you qualify, and if approved, you can sign a loan contract. Read over your lender’s terms carefully, and don’t be afraid to reach out if you have any questions. And of course, don’t forget to check borrower reviews — it can be the difference between a decent lender and one that won’t work with you if you have any issues.

Bottom line

3 Year Loans is a connection service, but it might not be the best out there. Without a transparent website or clearly outlined terms, it’s hard to say if you’ll be getting a good deal when you submit your personal information.

If you do decide to apply, you may also want to consider applying with a direct lender as well to see what types of rates you might qualify for.

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