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Transform Credit personal loans review: Borrow up to $7,000 even with bad credit

  • Kat Aoki's headshot
Edited by Holly Jennings
Transform Credit personal loans
Max. Loan Amount
Up to 35.99%
Min. credit score

Our verdict

Fast funding on loans with rates capped at 35.99% APR — but you’ll need a creditworthy cosigner to vouch for you.

Transform Credit personal loans are geared toward borrowers with bad or no credit history and who want to borrow up to $7,000 with the help of a cosigner. Its cosigner policy makes it ideal for people who want to improve their credit and have a family member or friend with excellent credit who's willing to vouch for them.

Unlike installment and payday lenders that charge APRs up to 300% or more — Transform Credit's maximum APR is 35.99%. This makes it a more manageable option for bad credit borrowers who are often stuck paying sky-high rates or fees because they don't qualify for other personal loans.

But to get a loan from Transform Credit, your cosigner must have a score of at least 750. Also, Transform Credit loans are only available in a handful of states. And while many customers like the company, it has a Better Business Bureau (BBB) alert for a pattern of customer complaints.

Best for: Poor-credit borrowers with an excellent-credit cosigner.


  • Poor-credit borrowers may qualify.
  • Rates capped at a relatively low 35.99%.
  • Cheaper than short-term installment and payday loans.
  • No prepayment penalty.


  • Cosigner must have a minimum 750 credit score.
  • Only available in 9 states.
  • Numerous customer complaints on the BBB.

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Who is Transform Credit best for?

Transform Credit is best for poor-credit borrowers looking to improve their credit rating by responsibly paying back their loan. It may particularly appeal to young people who need funds to establish themselves and have a parent willing to cosign.

But if you can’t repay the loan, your cosigner will be on the hook for your payments. Because of this, it’s important to make sure your cosigner agrees to help you before you submit their name on your application — as their credit score will drop by a few points.

What makes Transform Credit shine

Transform Credit stands out for its maximum APR of 35.99%, which is much lower than what you’d pay with a short-term installment loan or a payday loan that typically carries rates in the triple digits. The company also gets high marks from customers on Trustpilot, who praise its smooth processes and professional customer service.

Where Transform Credit falls short

While many customers give Transform Credit positive reviews online, the company currently has a BBB alert for a pattern of complaints. The complaints mention loan approvals without submitting an application — indicating fraud — and cosigners having hard credit checks performed without their consent.

It appears that applicants can name a cosigner without the cosigner knowing that their credit is being checked. And service can be lacking, too. If you’re not an active customer, you must leave a message and wait for a call back, sometimes over 48 hours.

Transform Credit loan details

Minimum credit score/credit rangeCosigner must have a minimum credit score of 750
APRUp to 35.99%
Loan amountsUp to $7,000
Terms24 to 60 months
Approval turnaroundAs fast as 24 hours
AvailabilityCalifornia, Georgia, Idaho, Illinois, New Hampshire, Oregon, South Dakota, Utah, Wisconsin
  • No origination fees
  • No prepayment fee
Other feesNot stated

Use our personal loan calculator to get a better idea of what your payments might be based on the loan amount and interest rate.

How to qualify for a Transform Credit loan

With Transform Credit, there’s no minimum credit score requirement, since all loans are based on your cosigner’s credit history. But your cosigner must have a minimum credit score of 750 to help you qualify for a loan.

How to apply

Follow these steps to apply for a loan with Transform Credit:

  1. Go to the Transform Credit website and fill out the application.
  2. Sign the loan agreement and provide your bank account information.
  3. Provide your cosigner’s contact information.
  4. Transform Credit sends the application directly to your cosigner via a link in a text or email. Your cosigner will need to log in to their online banking account and allow Transform Credit to access their bank statements.

Transform Credit will let you know how much you qualify for after it confirms your cosigner’s information and credit score. If approved, Transform Credit will deposit your funds into your cosigner’s bank account in as little as one business day. Your cosigner can then transfer the funds to you.

How Transform Credit compares to other lenders

Transform Credit isn’t the only option if you have poor credit. Find your perfect match by comparing lenders and lender marketplaces by minimum credit score. Select Go to site to visit the lender’s website for a personalized quote.

Name Product Filter Values APR Min. credit score Loan amount
Best Egg personal loans
Finder Score: 3.8 / 5: ★★★★★
Best Egg personal loans
8.99% to 35.99%
$2,000 to $50,000
Fast and easy personal loan application process. See options first without affecting your credit score.
Upstart personal loans
Finder Score: 4.2 / 5: ★★★★★
Upstart personal loans
7.80% to 35.99%
$1,000 to $50,000
This service looks beyond your credit score to get you a competitive-rate personal loan.
SoFi personal loans
Finder Score: 4.4 / 5: ★★★★★
SoFi personal loans
8.99% to 29.99% fixed APR
$5,000 to $100,000
A highly-rated lender with competitive rates, high loan amounts and no required fees.
Finder Score: 4 / 5: ★★★★★
8.49% to 35.99%
$1,000 to $50,000
Check your rates with this online lender without impacting your credit score.
LendingPoint personal loans
Finder Score: 3.3 / 5: ★★★★★
LendingPoint personal loans
7.99% to 35.99%
$2,000 to $36,500
Get a personal loan with reasonable rates even if you have a fair credit score in the 600s.
Happy Money
Finder Score: 3.8 / 5: ★★★★★
Happy Money
11.72% to 24.50%
$5,000 to $40,000
Pay down your debt with a fixed APR and predictable monthly payments.

Transform Credit reviews and complaints

BBB accredited No
BBB rating F
BBB customer reviews 1.67 out of 5 stars, based on 172 customer reviews
Trustpilot Score 4.7 out of 5 stars, based on 1,596 customer reviews.
Customer reviews verified as of 02 November 2023

Transform Credit gets mostly positive reviews on Trustpilot. Satisfied customers praise the lender’s customer service team, smooth application processing and quick funding. However, some customers were unhappy to discover that their cosigner’s accounts received the loan amount instead of their own.

But the BBB website paints another picture. There’s currently an alert for a pattern of customer complaints in four categories:

  1. Customers getting approved for loans they didn’t apply for
  2. Credit checks without prior consent
  3. Getting signed up for the credit-builder program without authorization
  4. Added as cosigner without consent

Is Transform Credit legit?

Yes. Transform Credit is licensed to offer loans in nine states. It’s headquartered in Chicago, Illinois, and it has a customer service phone number.

Transform Credit’s privacy policy is listed on its website and states how it processes and stores your information. It also uses encryption to protect any information you and your cosigner submit during the online application. You can compare similar companies with these loans like Transform Credit.

Frequently asked questions

Why is the money paid out to my cosigner rather than me?
Your cosigner gets the money to ensure they know about the loan. Your cosigner can transfer the funds to you in any way you’d like immediately after receiving them.

What if my cosigner has another Transform Credit loan they’ve cosigned?
You won’t be able to use them as a cosigner if the other loan is still open. To qualify, your cosigner must not already have an open loan with Transform Credit — as a borrower or cosigner.

How do I contact Transform Credit customer service?
If you have any questions about getting a loan or need an update on the status of your application, you can contact customer service from 8 a.m. to 8 p.m. CT, Monday through Friday in two ways:

  • Phone: 470 435 6300
  • Email:

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