Balance Credit installment loans review

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. 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.

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Min. Amount


Max. Amount


Product NameBalance Credit installment loans
Min. Amount$100
Max. Amount$5,000
Loan TermUp to 3 years
Loan SecurityUnsecured
RequirementsMust 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.

State availability

Balance Credit only serves residents in California, Delaware, Idaho, Missouri, Mississippi, New Mexico, Ohio, South Carolina, Texas, Utah and Wisconsin? If you 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 works with financial institutions 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, your funds will be deposited into your bank account, typically by the next business day.
Balance Credit offers three repayment options: biweekly, semimonthly and monthly.

What are the benefits of 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 is OK. Don’t fret if your credit isn’t top-notch. Balance Credit accepts borrowers with every credit background.
  • Don’t need to be employed. Even if you’re on welfare or are collecting unemployment, Balance Credit may still approve you for a loan. All you need is a regular source of income to qualify.
  • Fewer fees. Pay back your installment loan early without fees or penalties. You won’t pay origination fees, either.

What to watch out for

  • Small loans may not be available. Depending on your state, you may not be able to borrow a small loan. You can check Balance Credit’s state disclosure page to see your state’s minimum amount, and if you need less, you can compare your payday loan options instead.
  • High costs. Short-term installment loans are notorious for their high interest rates, and Balance Credit is no exception.
  • Limited serviced states. Balance Credit currently only operates in 11 states. If you don’t live in one of these, you’ll need to consider your other options.

Compare more online installment loans

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Name Product Filter Values Loan amount Turnaround time Requirements
OppLoans Installment Loans
Finder Rating: 4.7 / 5: ★★★★★
OppLoans Installment Loans
$500 to $4,000
As soon as the same business day.
+18 years old, Receive paychecks through direct deposit, Meet minimum income requirements, Live in eligible state
Comes with the option to change your due date so you won’t fall behind on repayments.
LendYou Short-term Loans
Finder Rating: 2.5 / 5: ★★★★★
LendYou Short-term Loans
$100 to $1,000
Same business day to 1 business day
$1,000+ monthly income, direct deposit, US citizen or permanent resident, ages 18+
Get offers from potential lenders in minutes by filling out just one online form.
Fast5kLoans Short-term Loans Connection Service
Finder Rating: 3.5 / 5: ★★★★★
Fast5kLoans Short-term Loans Connection Service
$100 to $35,000
As soon as the next business day
Regular source of income, Verifiable bank account, US citizen, Ages 18+
Get connected with multiple lenders you might qualify with — even if you have bad credit.
Fig Loans Installment Loans
$200 to $800, varies by state
As soon as the same business day
3 months of direct deposits, $1400 per month income, positive bank account balance
Get an affordable installment loan that comes with no fees, flexible terms and predictable monthly repayments.

Is it safe to apply with Balance Credit?

Yes. Balance Credit is a trustworthy installment loan and credit services company. It is 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.

What does the Internet say about Balance Credit?

As of October 2018, Balance Credit scores a respectable 7.7 out of 10 on Trustpilot. Former borrowers praise its quick application process, although some have had trouble with making payments and state that the loan isn’t very transparent — the receipts borrowers have been sent don’t state how much is left to pay back.

Am I eligible?

Before you apply, make sure you’re eligible. You’ll need to meet the following basic requirements:

  • Employed for at least 90 days with the same employer.
  • Have an open checking or savings account.
  • Be at least 18 years old.
  • Be a US citizen or permanent resident.

How do I apply?

Here’s how to apply for a Balance Credit loan, step-by-step with screenshots.

  1. Go to site and enter your first and last name, email address and state of residence.
  2. Create your account with your personal contact information, residential status, date of birth and Social Security number.
  3. Enter the purpose for your loan, your income information and your bank account information.
  4. Review all disclosures — including the Privacy Notice and Terms of Use — and select Agree and Check Your Eligibility.

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 may be subject to a late payment fee. If you’re having trouble making a payment, contact Balance Credit at (855) 942-2526 or email — Balance Credit be willing to work out an arrangement that can better get you back on track.

Bottom line

Balance Credit is a reputable lender that can provide quick funding to people in a bind. You don’t necessarily need to be employed, and you could potentially borrow up to $5,000. Just remember that the states it services are limited, and always read the full contract before you sign to make sure you know exactly how much your loan will cost.
You should also consider comparing your other installment loan options to see if you can get a better deal. And if you have decent credit and time to wait for the funds, explore other alternatives to short-term loans.

Frequently asked questions

What does Balance Credit consider an alternative form of income?
Even if you aren’t employed, you may still qualify if you receive income from

  • Social Security benefits
  • Retirement benefits, including VA benefits and pension plans
  • Unemployment insurance
  • Alimony and child support payments

What does it mean to be a credit service organization?
Credit services organizations are designed to connect you to third-party lenders. Balance Credit is a credit service organization in.
Can I make additional payments with Balance Credit?
Yes. Balance Credit allows you to make additional payments and even pay off your loan early at no extra cost.
What will my payment schedule look like with a Balance Credit loan?
Depending on your loan’s size, you could repay your loan weekly, twice a month or monthly.
How can I reach Balance Credit’s customer support?
You can call a Balance Credit representative by phone at (855) 942-2526, email or visit its website for live chat.

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