How do CIT Bank and Ally compare?
- Choose this lender if you want to make interest-only payments
- Choose another lender if you want a fully online application
- A good option for borrowers who expect a significant income raise in the near future
- Choose this lender for clear time estimates
- Not ideal if you’re looking for in-person support
- A good option for first-time homebuyers
Neither of these seems the right fit?
Not available in: AK, HI, MD, MA, MN, NV, NH, NY, VT, VA, WY
- Interest-only loans
- Online accounts
- High loan limit
- Clear timeline
- Customer discount
- First-time buyers guide
- Two-step application
- Limited options
- Hidden fees
- No government-backed loans
- No branch locations
- No home equity line of credit (HELOC) options
Online reviews detail quality interactions with CIT Bank representatives, suggesting the bank is easy to work with through responsive, efficient customer service.
However, some CIT Bank customers complain of fluctuating interest rates and don’t like the design or functionality of CIT Bank’s online banking platform.
CIT Bank is not accredited with the Better Business Bureau, which gives it a B- rating as of August 2019.
Trustpilot gives the company a 9.2/10 rating, with just under 200 reviews.
Reviews across Trustpilot and the Better Business Bureau (BBB) are overwhelmingly negative. But they number relatively fewer compared to bigger-name financial institutions — with only 82 and 274, respectively.
As of January 2021, Ally is not accredited with the BBB and has a D- rating for failing to respond to complaints. The average customer rating is 1.25 out of 5 stars.
Complaints generally focus on poor customer service experiences, misinformation and mishandling of funds. While the reviews are mostly negative, keep in mind that people generally aren’t as likely to go out of their way to leave positive reviews.
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