Frequently Asked Questions

When struggling to pay, you need a financial solution you can count on. We provide transparent terms in plain language with zero early repayment penalties. Our customers speak for themselves. We've built our reputation on honest service and straightforward lending when you need it most.

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Balance Credit is committed to complying with the Military Lending Act (MLA), which places a 36% rate cap on loans offered to active-duty service members and their dependents. Because our loan products may exceed this rate limit, we cannot offer loans to individuals covered by the MLA.

To ensure compliance, we obtain a report from a national consumer reporting agency and ask applicants about their military status during the application process.

Under the MLA, protected individuals include:

Active-duty members of the Army, Navy, Marine Corps, Air Force, or Coast Guard serving under orders that specify a period longer than 30 days, their dependents, including spouses, children under 18, and individuals who received more than half their financial support from a service member in the past 180 days

If you'd like to verify your MLA coverage status, you can submit a request through the official MLA website.

Need to adjust when your payments are due? Our customer support team is ready to help! Contact us by email at support@balancecredit.com or call (855) 942-2526 during our service hours: Monday–Friday 7 a.m.–8 p.m. CST and Saturday 8 a.m.–5 p.m. CST.

Our team may be able to modify your repayment schedule to better fit your financial situation. We understand that flexibility matters, and we're here to work with you on a payment timeline that works for your needs.

Let us know as soon as possible so we can keep serving you without any hiccups. Simply email us at support@balancecredit.com or call (855) 942-2526 with your updated information, and we'll take care of the rest. Quick communication ensures you never miss important updates about your account.

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We offer flexible payment schedules based on your paycheck frequency - bi-weekly, semi-monthly, or monthly. Most customers prefer our convenient automatic withdrawals, which deduct payments directly from your bank account on scheduled dates. With automatic payments, you'll never forget a due date - just make sure your account has sufficient funds when payments are scheduled. This hassle-free option helps you stay on track with minimal effort.

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Don't worry - we're here to help. Contact our team at least 3 business days before your due date to discuss your options. We can explore payment extensions or alternative arrangements that fit your situation.

Important: If you miss a payment without contacting us first, additional interest charges may apply. Please contact us early so we can find a solution together.

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Please see our Terms of Use and Privacy Notice to read about what steps we take to protect you and your personal information.

You can reset your password through our website. To retrieve account access, you will need access to the email address associated with your Balance Credit account. If you do not have access to this email, you can call us at (855) 942-2526 so we can assist.

If your bank account changes, notify Balance Credit at least 3 business days before your next scheduled payment. Provide us with your new account and bank routing numbers. Email us at support@balancecredit.com or call (855) 942-2526. Our hours of operation are Monday – Friday from 7 a.m. to 8 p.m. CST and Saturday from 8 a.m. to 5 p.m. CST.

Not a problem! The quicker you communicate with us, the better we can continue to serve you without interruption. Please send us an email at support@balancecredit.com or call (855) 942-2526 with your new information so we can update our system.

If you can’t make a payment on time, don’t panic. Reach out to us as soon as possible. We’ll discuss payment extensions or other arrangements that may better suit your needs. If you don’t contact us, additional interest may be charged for missed or partial payments.

Please contact us 3 business days before your scheduled payment date to discuss how we can assist you.

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There are no penalties for early or additional payments. If possible, it is always encouraged. Paying off your account early can help you save on interest and finance charges. If your budget allows, we encourage you to consider the following:

• Pay off your balance as soon as possible. The sooner you settle it, the more you’ll save on finance charges.
• Pay extra on your due dates. Doing so can reduce the number of future payments and help you save on finance charges.

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Bank Verification is a process we use to confirm your identity and the validity of your bank account. This step is crucial to the application process and required before we can begin transferring funds. If approved, this ensures funds are securely sent to the correct bank account.

If you wish to cancel your application, please contact us by 4 p.m. CST on the day of your submission. You can email us at support@balancecredit.com or call (855) 942-2526 for assistance. Our hours of operation are Monday – Friday from 7 a.m. to 8 p.m. CST and Saturday from 8 a.m. to 5 p.m. CST.

Balance Credit cannot process applications over the phone. If you wish to apply, you can complete our online application in just a few minutes. If you need assistance, our agents are available most hours of the day. You can contact us or call our customer service team at ‍(855) 942-2526.

Balance Credit and its lending partners never charge application fees. The online application process only takes a few minutes. Click here to apply now!

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Applications processed and approved before 6 p.m. CST on business days and before 4 p.m. CST on Sundays are typically funded the next business day. If you apply online after the cut-off, your application will be processed the next day. It is not uncommon for customers to receive their funds within 24 hours of applying.**

When applying, you will provide your bank routing and account numbers. Once approved, your funds will be deposited directly into the bank account provided.

To apply, you must have a checking or savings account with unlimited debit and credit privileges. When you apply, you will enter your bank routing and account number on the application. To be eligible, this account cannot be linked with another Balance Credit account.

The loan amount you qualify for is determined during the application process. If approved, the amount can range between $100 and $4,000. This depends on your state of residence and specific credit criteria. If you pay off a loan on time, following your contract terms, you may be eligible for a larger loan in the future.

While applying for a loan with Balance Credit won’t affect your credit score, taking one out may have an impact. Consistently making payments on time can improve your credit score. Missing payments or failing to pay back your balance could result in a significant drop in your credit score. This could affect your ability to secure credit in the future.

To qualify for a loan with Balance Credit, you must meet the following requirements:

• Reside in a state in which we operate
• Meet the minimum age requirement for your state*
• Have a valid email address and verifiable phone number
• Have an active checking or savings account that has been open for at least 30 days and is not linked to another Balance Credit account
• Have a proven source of income that meets the underwriting criteria

Other requirements may apply. Products are not available in all U.S. states. States serviced by
Balance Credit are subject to change.

You can apply online through our website anytime. Our application process is 100% digital - we don't accept phone or mail applications. Need help? Our support team is ready to assist.

When applying, you will need the following:

• Your Social Security number
• A valid email address
• A valid phone number
• Your source of income details
• The routing and bank account number where you want to deposit your loan

The Annual Percentage Rate (APR) is a percentage that represents the annual cost of funds over the term of a loan. At Balance Credit, APR includes not only the interest charged but all fees and costs associated with the loan.

By doing so, we provide a more comprehensive view of the total cost when borrowing. By showing these costs as an annual percentage, you can easily compare loan offers and understand the true cost of a loan over its lifetime.

Automated Clearing House (ACH) is an electronic network for financial transactions in the United States. The ACH network processes millions of transactions every day. This includes payroll direct deposits and vendor payments.

ACH is one way your payments get to Balance Credit. The payment transfers as an Electronic Funds Transfer (EFT) from your bank account. The payment will then go through automatically if there are sufficient funds in your account on the day payment is due.

We use pre-set criteria to check your eligibility for our loan services. If you received a letter, it means you were invited to apply based on the pre-set criteria. However, receiving this letter does not mean you automatically qualify. If you are interested in our loan services, you can complete our application and review your offer.

Capital Community Bank is the lender that originates loans in Alaska, Arkansas, Arizona, Florida, Indiana, Kansas, Kentucky, Louisiana, Michigan, Minnesota, Montana, Ohio, Oklahoma, South Carolina, Tennessee, and Texas. The loans are serviced by Balance Credit. Capital Community Bank is a Utah Chartered bank, located in Provo, Utah, Member FDIC. Your loan agreement identifies your lender.

If you live in Alaska, Arkansas, Arizona, Florida, Indiana, Kansas, Kentucky, Louisiana, Michigan, Minnesota, Montana, Ohio, Oklahoma, South Carolina, Tennessee, or Texas, your loans will be serviced by Balance Credit. However, they are funded and provided by Capital Community Bank (or by one of its affiliates or divisions), a Utah-chartered bank located in Provo, Utah, Member FDIC. Your loan agreement will identify lenders by state.

We offer loans in the following states:

• Alaska
• Arkansas
• Alabama
• Arizona
• Delaware
• Florida
• Idaho
• Indiana
• Kansas
• Kentucky
• Louisiana
• Michigan
• Minnesota
• Missouri
• Mississippi
• Montana
• Ohio
• Oklahoma
• South Carolina
• Texas
• Tennessee
• Utah
• Wisconsin

In Alaska, Arkansas, Arizona, Florida, Indiana, Kansas, Kentucky, Louisiana, Michigan, Minnesota, Montana, Ohio, Oklahoma, South Carolina, Tennessee, and Texas loans are serviced by Balance Credit. However, they are provided and funded by Capital Community Bank (or by one of its affiliates or divisions), a Utah Chartered bank, located in Provo, Utah, Member FDIC. Your loan agreement identifies your lender.

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Contacting Balance Credit is simple. You can contact us by email at support@balancecredit.com, or by phone at (855) 942-2526. Our support hours are Monday – Friday from 7 a.m. to 8 p.m. CST and Saturday from 8 a.m. to 5 p.m. CST.

A Balance Credit loan can help you streamline various credit accounts and installment loans into one manageable payment. From credit card balances to personal loans, our consolidation solutions address multiple debt types efficiently.

Even with credit challenges, you can still take control of your financial situation. Balance Credit's debt consolidation solutions can combine your various obligations into one manageable payment and may secure you a lower overall interest rate. Our personalized approach creates a realistic pathway to better financial health, making it easier to rebuild your credit while addressing your debt.

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Consolidating multiple debts into a single loan can positively impact your credit scores over time when you use the funds to pay off existing balances. You might notice a temporary decrease in your scores initially, but with consistent on-time payments and by avoiding new debt, your scores can recover and potentially improve beyond their previous levels.

At Balance Credit, we offer unsecured personal loans that can be used for debt consolidation. Unlike secured loans that require collateral such as your home or vehicle, our unsecured loans don't put your valuable assets at risk.

While consolidation reorganizes multiple debts into one payee, remember that you'll still repay the full amount owed—just with greater simplicity and potentially better terms. This approach gives you peace of mind as you work toward financial freedom.

Yes! Making consistent, on-time payments on your installment loan can help strengthen your credit profile over time. Each successful payment creates positive history in your credit report—potentially opening doors to better financial opportunities.

Remember that missed payments could have the opposite effect, so it's important to choose a loan with payments you can confidently manage within your budget.

Before signing any personal loan agreement, carefully review these critical elements:

Total loan amount: Verify the exact sum you're borrowing
Annual Percentage Rate (APR): Understand the true cost of borrowing
All fees and charges: Check for application fees, late payment penalties, or early repayment charges
Repayment schedule: Confirm when payments are due and how they'll be collected
Default consequences: Know what happens if you miss payments (additional fees, collection methods)
Rollover options: Understand if and how you can extend the loan if needed
Cancellation rights: Look for any cooling-off period that allows you to cancel

Taking time to understand these details helps you avoid unexpected costs and make an informed borrowing decision.

Yes! Balance Credit specializes in working with customers across the credit spectrum. We welcome applicants with all types of credit histories, including those with less-than-perfect credit scores or past financial challenges.

Balance Credit offers flexible repayment options with terms up to 18 months. We encourage customers to pay off their loans early whenever possible—with NO prepayment penalties—to save on interest. Our repayment plans are designed to keep your fixed payments manageable for your budget while giving you clear visibility to your payoff date.

Balance Credit offers personal installment loans ranging from $100 to $4,000. Your specific loan amount depends on factors like your income and existing financial obligations. We're committed to approving an amount that helps you meet your immediate needs while ensuring your payments remain affordable for your budget.

By paying off your loan on time according to your contract terms, you may qualify for larger amounts in the future.

Balance Credit loans are designed to help during financial emergencies. Our customers typically use their funds for unexpected expenses, overdue bills & rent payments, medical expenses, car repairs, or for consolidating existing debts into one manageable payment.

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Installment Loans: Predictable Structure
With an installment loan, you receive a one-time lump sum and make identical payments until it's fully paid off. Your payment amount never changes, making it easier to budget and plan ahead with confidence.

Revolving Credit: Flexible Borrowing
Revolving credit options like credit cards or lines of credit provide ongoing access to funds up to your credit limit. You can borrow, repay, and borrow again as needed – but your monthly payments will fluctuate based on your current balance. This can make budgeting and reaching your financial goals more challenging.

Which Is Right for You?
Installment loans work best when you need a specific amount for a planned expense, while revolving credit offers flexibility for varying or ongoing needs. Both have their place in your financial toolkit – the best choice depends on your unique situation and goals.

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Short-term loans (typically 3-12 months) offer a quicker debt-free date with higher payments—ideal when you want to minimize overall interest costs and pay off your loan faster.

Long-term loans stretch payments across several years, creating smaller monthly obligations that may be easier to fit into your current budget, though you'll likely pay more in total interest over the extended term.

Choose the timeline that aligns with your financial priorities and budget reality.

Applying will not affect your credit score. Balance Credit does not perform a hard credit inquiry with any of the three major credit bureaus. This means you can explore loan options without worrying about a negative impact on your credit.

Loan amounts range from $100 to $4,000, depending on factors like your income, financial history, and state regulations. We evaluate each application to find the best loan amount and rate for your situation.

By paying off your loan on time according to your contract terms, you may qualify for larger amounts in the future.

Credit scores typically range from 300-850, with scores between 300-579 often labeled as "poor" or "challenging." Scores from 580-669 are generally considered "fair."

At Balance Credit, we believe your financial journey shouldn't be defined by numbers alone. We welcome applications from all credit backgrounds and consider multiple factors beyond just your score.