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Transform Credit personal loans review

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Fast funding even with poor credit — but you’ll need a cosigner.

  • Best for borrowers with poor or no credit who have a cosigner.
  • Pick something else if you live outside of Georgia or Utah.


Max. Loan Amount

Up to 35.99%



Product NameTransform Credit personal loans
Min. Loan Amount$3,100
Max. Loan Amount$7,000
APRUp to 35.99%
Interest Rate TypeFixed
Loan Term3 to 5 years
Turnaround Time1 business day
Check my rate

Expert review

Kathryn Pomroy

Review by

Kathryn Pomroy was a writer for Finder, specializing in loans. She has written for dozens of major publications, small businesses and many well-known personal finance companies, including LendingTree, Money Crashers, Quickbooks/Intuit, BankRate, LendEDU and more. Kathryn holds a BA in Journalism and drinks super bold coffee while eating peanut butter and honey toast.

Expert review

As long as you have an eligible cosigner, you can potentially qualify for a personal loan with Transform Credit — even if you have poor or no credit. Loan amounts are capped at $7,000, which is relatively low compared to other lenders out there. While it doesn’t charge any fees, interest rates can also run high — with a maximum APR of 35.99%.

Having no or poor credit usually means getting stuck with short-term loan options, but Transform Credit provides terms up to five years. However, even with a cosigner, all loans are subject to credit history and underwriting approval. And it only works with borrowers who live in Georgia or Utah.

Outside of Transform Credit’s footprint or not sure it’s for you? Check out these loans from other reputable providers.

How much will this loan cost me?

Transform Credit doesn't charge any fees. However, interest rates are high — up to 35.99%. And if you fail to make your loan payments on time, your cosigner will be on the hook for them.

You can use our monthly payment calculator below to see how different loan amounts, rates and terms will affect how much you pay each month.

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How does it work?

You'll first have to fill out an application on Transform Credit's website. After that, a link to the application is sent to your cosigner, who will need to provide their Social Security number and debit card details. They also need to log in to their online bank account to let Transform Credit access their account statements. 

There's no minimum credit score for you to apply since all loans are based on the credit history of your cosigner. If your cosigner only has a fair credit score, you'll likely get stuck with a higher interest rate. But if they have excellent credit, you’ll likely qualify for a much lower rate.

What do I need to qualify?

You need to meet the following requirements at a minimum to qualify for a personal loan through Transform Credit:

  • At least 18 years old
  • Not filing for or in an open bankruptcy case
  • Must show you can make the monthly payments

Transform Credit also requires your cosigner to meet the following criteria:

  • At least 18 years old
  • Homeowners must have a credit score of at least 600
  • Non-homeowners must have a credit score of at least 700
  • Must show they can make the monthly payments and agree to them if you can’t
  • Doesn't share a bank account or credit card with you

What information do I need to apply?

As the borrower, you need to provide your:

  • Full name and address
  • Phone number and email address
  • Date of birth 
  • Social Security number 
  • Cosigner's contact information

From a link sent to your cosigner via text or email, your cosigner must provide their:

  • Social Security number
  • Bank account details
  • Debit card information
  • Consent for Transform Credit to access their bank account


  • Apply with no or poor credit
  • Funding based on the strength of your cosigner's credit
  • Short online application for borrowers
  • Funding in as little as 24 hours


  • High maximum APR of 35.99%
  • Only available in Georgia and Utah
  • Money is paid to the cosigner's account, not the borrower's
  • Third-party servicer DirectID handles loan repayments

See other personal loan options

Data indicated here is updated regularly

Name Product Filter Values APR Min. Credit Score Max. Loan Amount
Credible personal loans
4.99% to 35.99%
Fair to excellent credit
Get personalized rates in minutes and then choose an offer from a selection of top online lenders.
SoFi personal loans
5.99% to 18.53%
A highly-rated lender with competitive rates, high loan amounts and no fees.
LendingTree personal loans
Starting from 3.99%
Good to excellent credit
Receive up to five loan offers in just minutes through LendingTree's simple online form.
NetCredit personal loans
34% to 155%
No minimum
Check eligibility in minutes and get a personalized quote without affecting your credit score.
Monevo personal loans
3.49% to 35.99%
Quickly compare multiple online lenders with competitive rates depending on your credit.
Fiona personal loans
4.99% to 35.99%
Get loan offers from multiple lenders at once without affecting your credit score.
LightStream personal loans
Good to excellent credit
Borrow up to $100,000 with low rates and no fees.
Even Financial personal loans
4.99% to 35.99%
Get connected to competitive loan offers instantly from top online consumer lenders.

Compare up to 4 providers

Is Transform Credit legit?

Yes, Transform Credit is a legit lender. When you apply for a loan, it provides you with a notice describing its privacy policies and how it uses your information. It also uses encryption to protect any information you and your cosigner submit during the online application.

Transform Credit reviews and complaints

BBB accreditedNo
BBB ratingA+
BBB customer reviews1.6 out of 5 stars, based on 7 customer reviews
Trustpilot score4 out of 5 stars, based on 158 customer reviews
Customer reviews verified as of19 April 2020

Transform Credit receives only a few mixed reviews as of June 2020. While several customers praise the lender’s customer service team, others report issues with their payments being debited from their cosigner’s account rather than their own and long wait times.

Given its small service footprint, it makes sense that Transform Credit doesn't have as many customer reviews as larger lenders. Because there are so few reviews, you may want to weigh other factors more heavily when comparing it.

How do I apply?

Transform Credit has a short online application for borrowers. To apply, follow these steps:

  1. Go to the Transform Credit website.
  2. Select the amount you want to borrow, your term and click Apply now.
  3. Fill in your contact details, including your full name, address, phone number, email address, date of birth and Social Security number. Click Get my loan.
  4. Sign the loan agreement and provide your bank account information.
  5. Provide your cosigner's contact information.

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.

What happens after I apply?

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.

How do repayments work with Transform Credit?

Monthly payments will be outlined in your loan agreement. If Transform Credit doesn't receive your payment on the due date, it collects the payment from your cosigner. If you don’t think you'll be able to pay, contact customer service right away to discuss your options.
Not sure about Transform Credit? Check out other companies offering personal loans for bad credit.

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