Mr. Amazing Loans personal loans review June 2018 | finder.com

Mr. Amazing Loans personal loans review

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Borrow either $5,000 or $10,000 through this online lender focused on fair-credit borrowers.

Mr. Amazing Loans is a quick online lender that could help provide funds to those who want an affordable option but may not qualify with other top lenders. With a steady income of at least $25,000 a year, you could qualify for a $5,000 or $10,000 loan in just a couple of days.

Product NameMr. Amazing Personal Loans
Min Loan Amount$5,000
Max. Loan Amount$10,000
APR19.9%–29.90%
Interest Rate TypeFixed
Maximum Loan Term5 years
  • Age 21 or older
  • Minimum gross annual income of $25,000
  • Steady employment history
  • Credit score of at least 600
  • Checking account
  • Weekly payments
  • Established credit history
  • 2+ years re-established credit history bankruptcy
  • Reside in a state where Mr. Amazing Loans operates

How does Mr. Amazing Loans work?

Mr. Amazing Loans is an online lender that offers loans of either $5,000 or $10,000 to applicants who meet the minimum lending criteria. Mr. Amazing Loans is a legitimate service for people seeking loans to consolidate debt, pay medical expenses, travel or cover any other big expense. The weekly payments are low, and you may qualify for a loan even if you have poor credit.

Unlike most lenders, most of the loans through Mr. Amazing come with weekly payments of either $38 or $75. This requires tight budgeting because the frequent withdrawals can seriously eat into your balance if you’re not careful.

What are the benefits of a personal loan from Mr. Amazing Loans?

  • No prepayment fees. If you want to make an early payment or pay off your loan ahead of schedule, you can. Mr. Amazing Loans doesn’t charge a fee for prepayment.
  • Poor credit is OK. As long as you have a credit score of 600 or more, you’re eligible for a loan from Mr. Amazing Loans.
  • Quick approval. Mr. Amazing Loans can approve you of a loan in minutes — and have your money in your account the same day.

Does Mr. Amazing Loans have any drawbacks?

  • Only available in select states. In order to qualify, you must be a resident of Alabama, Arizona, California, Florida, Illinois, Kentucky, Louisiana, Maryland, Missouri, Nevada, New Jersey, Ohio, Oregon, Pennsylvania, Texas or Utah.
  • Can’t be self-employed. If you’re looking to borrow from Mr. Amazing Loans, you’ll need to have steady employment. If you’re self-employed, you won’t qualify.
  • Weekly payments. Unlike other personal loan options that allow you to make monthly payments, Mr. Amazing Loans will withdraw money from your checking account on a weekly basis, so make sure you budget for it.
  • Only two loan amount options. Mr. Amazing Loans only offers loans of $5,000 and $10,000.

Compare more online personal loan options

Rates last updated June 25th, 2018

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Unfortunately, none of the personal loan providers offer loans for that credit score. If you are in urgent need of a small loan, you might want to consider a short term loan.
Name Product Product Description Minimum Credit Score Max. Loan Amount APR
Best Egg Personal Loans
A prime lender with multiple repayment methods.
700
$35,000
5.99%–29.99% (fixed)
Upgrade Personal Loans*
Affordable loans with two simple repayment terms and no prepayment penalties.
620
$50,000
5.96%–35.97% (fixed)
LendingPoint Personal Loans
Get a personal loan with reasonable rates even if you have a fair credit score in the 600s.
600
$25,000
15.49%–34.99% (fixed)
Even Financial Personal Loans
Get connected to competitive loan offers instantly from top online consumer lenders.
580
$100,000
4.99%–35.99% (fixed)
SoFi Personal Loan Fixed Rate (with Autopay)
No fees. Multiple member perks such as community events and career coaching.
740
$100,000
6.199%-15.365% (fixed)
Monevo Personal Loans
Quickly compare multiple online lenders with competitive rates depending on your credit score.
580
$100,000
3.09%–35.99% (fixed)
Prosper
Borrow only what you need for debt consolidation, home improvements and more — with APRs based on overall creditworthiness.
640
$40,000
6.95%–35.99% (fixed)
Laurel Road Personal Loans
Get a personal loan with no application or origination fees and a rate discount for autopay.
680
$45,000
5.5%–11.74% (fixed)
FreedomPlus Personal Loans
Consolidate debt and more with these low-interest loans. Cosigners welcome.
640
$35,000
4.99%–29.99% (fixed)
LendingClub Personal Loan
A peer-to-peer lender offering fair rates based on your credit score.
660
$40,000
5.98%–35.89% (fixed)
CompareFirst Personal Loans
An easy-to-use loan connection service geared toward introducing first-time borrowers to affordable personal loans.
580
$50,000
2.99%–36% (fixed)
OneMain Financial Personal and Auto Loans
An established online and in-store lender with quick turnaround times. Poor credit is OK.
300
$30,000
16.05%–35.99%* (fixed)
NetCredit Personal Loan
Check eligibility in minutes and get a personalized quote without affecting your credit score.
550
$10,000
34%–155% (fixed)

Compare up to 4 providers

Online reviews of Mr. Amazing Loans

One of the best ways to find out how a company works is to view the reviews left on sites like the Better Business Bureau (BBB) and Trustpilot.

Mr. Amazing Loans is accredited by the BBB and holds an A+ rating, though, as of December 2017, there’s only one review left on the website. The user commented negatively on the cost of a $5,000 loan from Mr. Amazing Loans, stating that the interest payments were much higher than expected. It’s important to remember that you’ll typically pay high interest when dealing with loans designed for people with less-than-perfect credit.

The reviews left on Trustpilot are much more plentiful and positive. Over 95% of users rate their experience at four or five stars, and many comment on its helpful customer service. The few negative comments point to high interest rates.

What are the eligibility criteria?

If you’re interested in taking out a loan from Mr. Amazing Loans, you’ll have to meet the following criteria:

  • Live in one of the states Mr. Amazing Loans services: Alabama, Arizona, California, Florida, Illinois, Kentucky, Louisiana, Maryland, Missouri, Nevada, New Jersey, Ohio, Oregon, Pennsylvania, Texas or Utah.
  • Be at least 21 years old
  • Have a minimum gross annual income of $25,000
  • Have a steady employment history
  • Have a credit score of at least 600 and established credit history
  • Have a checking account
  • Can make weekly payments
  • Have at least two years re-established credit history after a bankruptcy

What is the application process like?

Here’s how to apply, step-by-step:

To finish your application, fill out the requested personal and banking information. Review your application and read the terms and conditions carefully before clicking Submit.

Once you submit, your information is processed. If your request is approved, finish the application by supplying Mr. Amazing Loans with your personal and bank information. If your request is denied, you may be directed to an alternative provider that can connect you with other lenders.

What happens after approval?

Once you’re approved and have signed the loan documents, your loan funds are deposited into your checking account. From here, you can use your loan for whatever purpose you stated in the application — from funeral expenses to consolidating debt.

Your loan terms will be 60 months with weekly repayments withdrawn directly from your checking account.

Bottom line

When you’re in need of quick financing for large amounts of cash, you can apply for a loan from Mr. Amazing Loans to get you through a tough financial spot. Even if you don’t have the best credit, you may still qualify. As with all loans, be sure to compare your options before you settle on a lender.

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