GENERAL

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

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 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 the way your loan 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. This includes interest plus any fees or additional costs associated with the transaction.

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. You will be eligible for the loan if, based on the information you provide to us through the form on BalanceCredit.com, 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 loan offer(s).


APPLICATION

What are the minimum requirements to qualify for a loan or credit services?
You must meet the following minimum requirements to qualify for a loan or credit services:

  • Reside in a state that we offer our product and meet their 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
  • Have a proven source of income that meets our underwriting criteria
Other requirements may apply. Loans are not available in all states. States serviced by Balance Credit may change from time to time with or without notice.

Will applying for a loan affect my credit score?
Balance Credit does not perform any hard inquiries to any of the 3 major credit bureaus, TransUnion, Equifax, and Experian, so it will not affect your traditional credit score.

How do I apply for a loan or credit services?
You can apply on our website here. 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
  • Two valid phone numbers
  • Your source of income details
  • The routing and bank account number where you want the funds deposited

What type of bank account can I use to apply?
To apply for a loan or credit services with Balance Credit you will need to have a checking account or a savings account with unlimited debit & credit privileges. 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 with why that decision was made.

How fast will I get the money?
Applications processed and approved before 6:30 PM C.T 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.

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 loan, and 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. 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).

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.


REPAYMENT

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

  • Pay off your loan 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 loan?
Loan 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.

Can I take out a 2nd loan with Balance Credit?
Unfortunately, we only allow our customers to have one loan a time. You will need to pay off your loan, and all payments must clear, and then you may be eligible for a new loan. You will receive a system generated email once your loan has been paid off for your records.


ACCOUNT

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 reset your password here. 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.

Consider it done.

Apply for a personal loan now. You'll be finished before you know it. It's fast. It's simple. It's Balance Credit.

Check Your Eligibility