Frequently Asked Questions (FAQs)


How do I contact Balance Credit?
Contacting Balance Credit is easy. You can reach out to us via email or phone.

What is ACH?
Automated Clearing House, an electronic network for financial transactions in the United States. The ACH network processes millions of transactions every day, including payroll direct deposits and vendor payments. ACH is one way your payments get to Balance Credit as an EFT (Electronic Funds Transfer) from your bank account (as long as there are sufficient funds in your account on the payment due date).

What is APR?
Annual Percentage Rate. APR is a percentage number that represents the actual annual (yearly) cost of funds over the term of a loan or line of credit.

I received a marketing letter from Balance Credit in the mail, what does it mean?
For new customers, we use pre-set selection criteria to make a preliminary determination about your eligibility for a loan, credit service, or line of credit. You will be eligible for our products if, based on the information you provide to us through the form on, we determine that you continue to meet the selection criteria as well as the additional requirements set out in the letter. Your next step is to complete the form to review your offer(s).


What are the minimum requirements to qualify for a loan, credit service, or line of credit?
You must meet the following minimum requirements to qualify:

  • Reside in a state in which we offer our products and meet the minimum age requirement;
  • Have a valid email address and verifiable phone number;
  • Have an active checking or savings account that has been open at least 30 days and is not currently associated with another Balance Credit account; and
  • Have a proven source of income that meets our underwriting criteria
Other requirements may apply. Products are not available in all states. States serviced by Balance Credit may change.

Will applying for a loan, credit service or line credit affect my credit score?
Balance Credit does not perform a hard inquiry with any of the 3 major credit bureaus, TransUnion, Equifax, and Experian, so the application will not affect your traditional credit score.

How do I apply?
You can apply on our website completing the . The only way to complete an application is through our website. We are unable to complete an application over the phone or through the mail. You will need the following information:

  • Social Security number;
  • A valid email address;
  • A valid phone number;
  • Your source of income details; and
  • The routing and bank account number where you want the funds deposited

What type of bank account can I use to apply?
To apply you will need to have a checking account or a savings account with unlimited debit & credit privileges. This account must not be currently associated with another Balance Credit account. When you apply, you will enter your bank routing number as well as the bank account number on the application.

How do I get my application results?
When you finish your online application, you’ll click "AGREE AND CHECK YOUR ELIGIBILITY". In most cases, you’ll see a message within seconds telling you if your application is approved.

If your application was not approved, you will receive a Notice of Adverse Action within 30 days explaining why that decision was made.

How fast will I get the money?
Applications processed and approved before 6 PM CT on business days and prior to 4 p.m. CT on Sundays are typically funded the next business day.

I would like to apply via phone. Can you help me?
Balance Credit cannot process applications over the phone. You can submit an application online and our agents are available most hours of the day to assist with any difficulties you might encounter. If you have questions about filling out the application, please give us a call.

How can I cancel an application?
If you wish to cancel your application, simply contact us no later than 4:00 PM CT on the day of your application and ask to cancel your application. Please contact us with a call or email.


May I make an early or additional payment?
There are no penalties for early or additional payments. If your budget allows, we encourage you to:

  • Pay off your account as early as possible. The earlier you pay it off, the more you’ll save on finance charges.
  • Pay extra on your due dates. This may reduce your number of future payments and save you money on the finance charge.

What do I do if I can’t make a payment on time?
First, don’t panic. If you need extra time, we’ll talk with you about payment extensions or other arrangements that may meet your needs. If you don’t call us, you may be charged additional fees for missed or partial payments. Please contact us 3 business days prior to your scheduled payment date to make alternate arrangements.

How do I repay my account?
Payments are made bi-weekly (every other week), semi-monthly or monthly. Most borrowers make these payments by automatic deductions from their bank account. You simply need to be sure you have sufficient funds in your account on the day the automatic payment is made.


What if I change my phone number, email or I move?
Not a problem. Just let us know quickly so we can communicate without interruption: Please send us an email with your new information or give us a call.

What if I change bank accounts?
If you no longer have the bank account you used for receiving funds and making payments, you must notify Balance Credit at least three (3) business days before your next scheduled payment. You will need your new account number and bank routing number. Please give us a call.

What if I forgot my password?
You can . You will need access to the email address associated to your account.

How do you protect my privacy?
Please see our Terms of Use and Privacy Notice.


What can I use the loan proceeds for?
Feel free to use the proceeds of your loan for whatever personal use you need to get your life back in balance! Whether it’s to help make a major purchase, like a new water heater, or cover a large unexpected expense, such as a car repair, a loan can help.

What does it cost to borrow money?
Unlike some other lenders, Balance Credit never charges application fees. As long as your payments are on time, your only cost is the accrued interest on your installment loan, as well as CSO fees for loans issued in Texas. Interest rates vary by state. Your payment amount, APR (Annual Percentage Rate), total finance charges, CSO Fees (where applicable), and first payment date are clearly outlined in the loan agreement, so you’ll never be surprised with unexpected charges. You are able to review your entire loan agreement prior to signing your loan document(s). If you review your agreement and do not like the terms, you have no obligation to sign and you will not be funded without signing your loan document(s).

Can I apply for a new loan when I have an outstanding loan with Balance Credit?
You will need to pay off your outstanding loan first. You may be eligible for a new loan when all payments clear. You will receive a system generated email once your loan has been paid off for your records.


What is line of credit?
A line of credit is a preset amount of money that Balance Credit has agreed to lend to you. With a line of credit, you can draw the amount of money that you need (up to your credit limit), when you need it.

How does a line of credit work?
1. You will receive a statement at least 14 days prior to any scheduled payment due date with the minimal payment due amount. You can choose to pay more with no prepayment penalty.
2. You can access available credit by getting additional cash advances up to your credit limit.

How much will my payment be?
Every billing cycle we will charge you a minimum payment due that includes any unpaid accrued interest, unpaid fees and a percentage of your credit limit. You can choose to pay more than the minimal payment amount at any time with no prepayment penalty.

When will my payment be due?
Payment due dates will vary by account, however we will send you a statement at least 14 days prior to any scheduled payment due date.

Conisder it Done

Consider it done.

Apply now! You'll be finished before you know it. It's fast. It's simple. It's Balance Credit.