CreditFresh line of credit review

Flexible funding for minor expenses — but some important details aren't available online.

Bottom line: CreditFresh offers a relatively straightfoward line of credit and is backed by a bank. But like all short-term options, expect high fees and limited information on its website. Read the full review.

No reviews yet. Write a review

Details

Min. Loan Amount$500
Max. Loan Amount$3,500
APRVaries by draw amount and pay period
Interest Rate TypeFixed
Loan TermNot stated
Turnaround TimeAs soon as the next business day

Pros

  • Interest rates typically under 200%
  • Build credit score with on-time payments
  • Clearly lists billing cycle charges

Cons

  • Total cost varies widely
  • Mixed customer reviews
  • Not up front about potential fees

CreditFresh rates, fees and terms

CreditFresh offers lines of credit, which means fees are charged on amount you borrow, not your total credit limit. It doesn't provide any information on late fees or nonpayment fees — but you should receive these details when you apply.

And because it's a line of credit, there's no set term. You will need to make a minimum payment once or twice a month depending on your pay schedule.

Is CreditFresh legit?

Yes, CreditFresh is a legitimate online lender backed by CBW Bank. It has an industry-standard privacy policy that lists what information it collects, how that information is used and how you can limit some sharing. And while it isn't up front about its interest rates or smaller fees, it does list the finance charge — the billing cycle charge — you can expect based on the amount you've borrowed.

Compare more payday loans

Browse direct lenders and connection services by state.

Name Product Filter Values Loan amount Turnaround time Requirements
B9 pay advance app
Up to 100% of your salary
Instant
$500+ in monthly direct deposits into B9 account, checking account, ITIN or SSN, government-issued photo ID
Withdraw 100% of your paycheck with no extra fee for instant funding.
OppLoans Installment Loans
$500 to $5,000
1 business day
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.
Stilt
$1,000 to $25,000
2 to 3 business days
Be employed, have a US bank account, live in a state where Stilt operates, hold one of the following visas: F-1 and OPT, H-1B, H4, O-1, L-1, TN, J-1, DACA or be a US citizen.
Get a fair loan designed for immigrants and nonresidents.
CashNetUSA Loan
Varies by state
As fast as same business day
Regular source of income, bank account, US citizen or permanent resident, age of majority in your state
Sign up for its discount program to get access to coupons and deals on everything from dining out to tax services.
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.
LendYou Short-term Loans
$100 to $2,500
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.
loading

Compare up to 4 providers

CreditFresh reviews and complaints

BBB accredited No
BBB rating B
BBB customer reviews 1 out of 5 stars, based on 2 customer reviews
Trustpilot Score 4.8 out of 5 stars, based on 1,014 customer reviews
Customer reviews verified as of 14 April 2021

While CreditFresh has a high overall rating on Trustpilot, some reviews cite poor customer service and high fees as a reason not to use its service. The positive reviews are vague — though most report being happy with the ability to build credit and the overall easy process.

Eligibility requirements

CreditFresh only requires you to meet these criteria:

  • Active bank account
  • Regular source of income
  • Valid email and phone number
  • At least 18 years old
  • US citizen or permanent resident

How to apply

CreditFresh has a quick application that only requires a few basic pieces of information, including your date of birth and Social Security number.

If approved, you can request a draw from your line of credit as needed. Requests made before 1 p.m. ET on Monday through Friday typically reach your bank account the same day. On weekends, and after the cutoff, expect funds the next business day.

CreditFresh locations

CreditFresh offers lines of credit in 18 states:

  • Alabama
  • Delaware
  • Florida
  • Idaho
  • Indiana
  • Kentucky
  • Kansas
  • Michigan
  • Mississippi
  • Missouri
  • Nebraska
  • Ohio
  • South Carolina
  • Tennessee
  • Texas
  • Utah
  • Washington
  • Wisconsin

Payment options

CreditFresh sends your bill at least 14 days before your minimum payment is due. Unlike payday loans or installment loans, you will only need to make a payment on a percentage of your current balance. However, making a larger payment will prevent expensive fees from piling up.

The amount you owe will depend on your pay frequency.

  • Monthly paychecks: Either 6% of the outstanding principal or $30, whichever is greater.
  • Nonmonthly paychecks: Either 3% of the outstanding principal or $15, whichever is greater.

If your bill is less than the minimum for your pay frequency, the entire amount will be due.

When you receive your bill, you can sign up for automatic payments debited from your bank account or make mannual payments on CreditFresh's website.

For a more affordable short-term loan option, read our guide to pay advance apps.

Avatar

Review by


Kellye Guinan is a seasoned financial writer with over 500 articles under her belt spanning all things loans from auto to personal to business and everything in between. With four years in the field and five years of research experience, she's able to make complex personal finance decisions easier for anyone to tackle. When she's not up to her knees learning about the latest trends in lending, she spends her time improving her own financial literacy and expertise — and maintaining a Duolingo streak of over 1,300 days.

Expert review

CreditFresh offers personal lines of credit up to $3,500. Its fee schedule is easy to follow and relatively inexpensive compared to payday loans — though it’s still pricey when compared to other forms of credit.

However, there’s not much about other fees, and its website is pretty sparse. Its customer reviews are also mixed. Before applying, you should compare more payday loans to be sure you’re getting the right financing for your needs.

Ask an expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our finder.com Terms of Use and Privacy and Cookies Policy.
Go to site