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Need cash quick? This installment loan provider could be a speedy choice that works for you.
When you’re looking to get cash quickly, a low credit score can be a stumbling block. But installment loans generally come with fewer strict criteria than traditional personal loans.
We break down how Balance Credit can lend you money in a pinch — even with poor credit or no collateral. But watch out for limited state availability and potentially high costs.
| Min Loan Amount | $100 |
|---|---|
| Max. Loan Amount | $5,000 |
| Loan Security | Unsecured |
| Requirements | Must live in CA, DE, ID, MO, MS, NM, OH, SC, TX, UT or WI. Must be 18 or older and have an active bank account with a proven source of income. |
- Age 18 or older
- Active bank account
- Employed with a proven source of income
- Valid email address and phone number
State availability
Don’t live in CA, DE, ID, MO, MS, NM, OH, SC, TX, UT or WI? Balance Credit only operates in those 11 states. If don’t live in one of those states, check out other installment loan options.
How does Balance Credit work?
Balance Credit is a direct lender in California, Delaware, Idaho, Missouri, Mississippi, New Mexico, South Carolina, Utah and Wisconsin. It also operates as a licensed credit services organization that connects borrowers with a lender in Texas and Ohio.
Its loan terms are up to 3 years in some states for as little as $100 to as much as $5,000. If you’re a resident of Texas or Ohio, Balance Credit will loop you in with a financial institution that can lend you anywhere from $100 to $2,500.
After completing Balance Credit’s free online application for an unsecured installment loan, you’re typically provided a decision on your loan within a day — sometimes in minutes. Once you’ve carefully read and accepted the terms and conditions of your loan, you’ll see your funds deposited in your bank account, typically by the next business day.
Balance Credit offers three repayment frequencies: biweekly, semi-monthly and monthly.
Top 3 reasons to consider Balance Credit
- Free, simple application. Balance Credit’s online application takes only a few minutes to complete, and you’ll hear back quickly, whether you’re approved or not.
- Bad credit OK. Don’t fret if your credit isn’t top-notch. Even if you’re on welfare or are collecting unemployment, Balance Credit may still approve you for a loan.
- Fewer fees. Pay back your installment loan early without fees or penalties. You won’t pay origination fees either.
What to watch out for
- High costs. Short-term installment loans are notorious for their high interest rates, and Balance Credit’s is no exception.
- Limited availability. Balance Credit currently operates in just a 11 states: CA, DE, ID, MO, MS, NM, OH, SC, TX, UT and WI.
Compare more online installment loans
Is it safe to apply with Balance Credit?
Yes. Balance Credit is a trustworthy installment loan and credit services company. It’s licensed and regulated in the states it services, and its website employs data encryption to ensure that your financial and personal information don’t fall into the wrong hands.
Balance Credit scores a respectable 8 out of 10 on Trustpilot.com, where multiple users praise its application process as easy and fast.
Am I eligible?
Applying online with Balance Credit doesn’t guarantee a loan. But you’re eligible to apply if you’re:
- At least 18 years old.
- A US resident with a valid bank account.
- Employed for at least 90 days with the same employer.
Alternative forms of income accepted
In evaluating your application, Balance Credit can also consider the following forms of income:
- Social Security benefits
- Retirement benefits, including VA benefits and pension plans
- Unemployment insurance
- Alimony and child support payments
How do I apply?
Here’s how to apply for a Balance Credit loan, step-by-step with screenshots.
I got an installment loan through Balance Credit. Now what?
Once you’ve read and understood the terms and conditions of your loan, stick to your payment schedule. If you miss a payment, you’re subject to a late payment fee that depends on your specific lender.
Contact Balance Credit at (855) 942-2526 or email support@balancecredit.com if you’re having trouble making a payment. It may be willing to work out an arrangement that can better get you back on track.
Bottom line
You aren’t guaranteed a loan with Balance Credit, but it’s a reputable lender that could provide quick funding to residents of CA, DE, ID, MO, MS, NM, OH, SC, TX, UT and WI.
Before you sign any contract, look into other providers to make sure you find the best loan you’re eligible for.
If you have decent credit and time to wait for the funds, explore other alternatives to short-term loans.