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About offers a wide range of options to help you through those times when money is extremely tight. The primary focus of their services is to assist those with bad credit or no credit at all. Their third-party lenders offer secured personal loans, unsecured personal loans, debt consolidation loans, auto title loans, home loans and payday loans. They also have third-party servicers that provide credit report services and credit card solution services.

There are a number of articles in their online database to provide you with a convenient method to conduct research before applying for a loan. There are also a number of calculators on their site, more than you could ever imagine. One of their calculators enables you to calculate the numbers within your loan offer prior to accepting it.

After submitting an online application, for free, through CreditLoan’s website, you will be matched to one of their lenders or servicers. They will contact you to confirm your personal information as well as to finalize the loan.

Always review the loan contract with a fine tooth comb, pay close attention to fees, penalties and interest rates. Since some states do not have laws regarding loan APRs, many lenders will use that to their full advantage. Compare the amount of money you will pay for the loan to the amount of money you are borrowing, it may be shocking.

Although they may have approved your loan application and promised to repair your credit, it is possible that the loan will hurt your credit if you can’t afford to pay it back. You are under no obligation to accept the loan, if they pressure you to sign and claim that the funds will only be available for a short time, step away and go elsewhere.

If any lenders ask for upfront fees or a security deposit that is a red flag and it is illegal. If they ask for bank account information or credit card information for payment, do not provide it, they may take your money and run.

CreditLoan sells and shares your personal information with third parties. The following wording is found within their privacy policy online. “By submitting your personal information, you understand and agree such personal information (including the Sensitive Information) may be shared with third-parties” In addition, they also state, “Furthermore, you authorize us to use any information collected from you to obtain other information about you from third-parties, such as your social security number, where such information was incompletely or improperly filled out on our registration form”

Consider other options to get help before taking the aforementioned route. Ask a friend or family member to borrow money, approach your employer to obtain a salary advance, try to work out a payment plan with your creditor or take out a small bank loan. To prevent the financial hardship in the future, get credit counseling. Changing your spending habits and paying your bills on time is going to help you improve your credit score. To find help, go to National Foundation for Credit Counseling.

As a last note, CreditLoan has received a rating of D+ with the Better Business Bureau and therefore is not BBB Accredited.

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1 Review

Such a SCAM

November7, 2014

Beware Beware if you receive a call from this company! I thought that they were the answer to my loan request and it almost seemed too good to be true- until I found out it was too good to be true.

They told me they had found me a loan with low APR and reasonable payments- gave me the information and I showed it to my significant other and we decided to do some research on the company. The reviews look good on the website and they have some interesting videos, but PLEASE don't let that fool you.

They required me to make a deposit on the loan for the first payment and I thought that was reasonable because it is an unsecured loan and they need proof that I'm actually going to pay it. Okay. But after I made the deposit ALL OF A SUDDEN I needed to come up with another deposit that was larger than the first one!

Bottom line: They never gave me the loan and they never returned my deposit like they said they would in their contract. Breaking a contract is breaking the law. This is a scam. If you value your time and your money, you will not trust these people.

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October 21, 2015

So then where did you go to get a loan

October 17, 2016 is not the company in question.

It appears that a service other than Creditloan was used and that has improperly been identified by "Elizabeth", as mentioned in our Consumer Advisory page here: will not call you and will never ask you for funds in advance. We are not a lending institution - we provide you secure access to lenders so you can get the funds you need.

October 17, 2016

While Creditloan is sympathetic to the issue "Elizabeth" is facing, we are unable to take any action which would rectify the problem as Creditloan is not the company in question...

It appears that a service other than Creditloan was used and that Creditloan has improperly been identified, as described in our Consumer Advisory page here:

It is important to recognize there are many unscrupulous websites making misleading claims in order to entice customers to provide personal information.

Often, these sites are selling consumer personal information and scammed customers are receiving harassing calls, emails and sometimes money is being withdrawn from their accounts.

CreditLoan does not engage in these practices.

It also sounds as though "Elizabeth's", information may have ended up in the hands of a group that has been taking advantage of innocent consumers through advance fee fraud.

Dan Wesley

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