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Reach Financial provides unsecured personal loans. These loans are issued by MetaBank® National Association or FinWise Bank, a Utah chartered commercial bank. They advertise their services at reach.com
Reach Financial Summary
Are you in need of some extra cash? You may have heard of Reach Financial, but what exactly does the company offer? In this article, we’ll take a closer look at Reach Financial so that you can make an informed decision.
We took a close look at their website and read through their terms and conditions. We found some interesting facts that we wanted to share.
Here are just a few of the things that caught our attention.
- Reach Financial personal loans don’t require collateral. The loans are issued by MetaBank® National Association or FinWise Bank, a Utah chartered commercial bank, a member FDIC.
- Different loans have different eligibility criteria and creditworthiness requirements.
- Fixed Annual Percentage Rates (APR) range from 5.99% to 35.99%.
- The origination fee ranges from 0% to 5%.
- Offers terms between 24-60 months.
Reach Financial’s licensing page is a great place to check out the different licenses they have in different states.
What is Reach Financial?
Reach Financial offers a variety of loans that can be used for different purposes. They have been in business for 7 years and are located in New York, NY. You can contact them via email at [email protected] or by phone at 800-606-8200 to discuss your options.
It has an A+ BBB rating. They have been accredited since 4/17/2019 and have an average of 69 customer reviews. In the last 12 months, they have closed 8 complaints.
How does Reach Financial work?
Reach Financial loans that can help cover unexpected costs or take advantage of opportunities. Loans range from $3,500 to $40,000 and come with fixed payments.
Reach Financial is a unique company that allows you to get a loan and create your own terms and monthly payment amount. It works by first allowing you to tell them your loan amount. Then, they provide you with an offer. Finally, you create your own terms and customize your monthly payment amount.
Reach Financial, a leading personal loan lender, specializes in providing financial personal loans to help individuals achieve their financial goals. Offering a range of debt consolidation loans, they empower customers to take control of their financial future by simplifying their finances.
As a reputable provider of unsecured personal loans, Reach Financial ensures that clients can consolidate debt without the need for collateral. By allocating loan proceeds efficiently, customers can effectively eliminate their credit card debt and streamline their financial obligations. Reach Financial is committed to offering tailored solutions that help clients responsibly manage their finances and work towards a debt-free life.
How to qualify for Reach Financial?
If you’re looking for a debt consolidation loan or to refinance your credit cards, you may be wondering if you qualify for Reach Financial. Here’s what you need to know.
Reach Financial personal loan requirements are based on a few factors, most importantly a review of credit history and employment status. Other things that may be looked at include verification of identity and monthly expenses. The approval process is designed to ensure that only those who are likely to be able to repay the loan are approved.
Reach Financial BBB Reviews
Reach Financial has an A+ BBB rating. They have been accredited since 2019 and have an average of 69 customer reviews. In the last 12 months, they have closed 8 complaints. When looking for a financial company, be sure to research their BBB reviews to ensure you are making the best decision for your money.
Here are some Reach Financial BBB Reviews:
What a wonderful program that really works. I sincerely appreciate having the opportunity to be in this program. I want to thank everyone in this company who makes this program possible. I am now **** FREE. I could not have done this without you
We just bought a new home. I used credit cards for some of the expenses. Everything was fine until a couple of small emergencies. All of a sudden interest rates on those credit cards got out of hand. Reach Financial came to my rescue, quickly and easily. 🙂
They approve you immediately and then say oh sorry you’re not approved after hitting your credit and wasting your time. Don’t waste your time!!!!
They claim to help people, but the people who need the help the most just get declined. Stay away from this predatory lender.
I applied on a website. I was told I was preapproved. I was baited into giving all sorts of information including my login and password to my checking account. And was refused the loan even though I have over 800 credit scores ( or at least I did until now). What will they do with my info? They have a great come-on but are just phishing frauds. I am sure this will be deleted immediately.
Reach Financial FAQs
What kind of loans does Reach Financial offer?
Reach Financial offers a variety of personal loans that can help you consolidate your debt and take control of your finances. Their personal loans are designed to help you pay down debt faster and get back on track.
They offer competitive rates and flexible repayment terms to make it easier for you to manage your finances. Their customer service team provides support every step of the way, from application to repayment. Reach Financial also offers an online calculator to help you figure out how much you can borrow and what your payments will be. With their help, you can make the most of your finances and get back on track.
How much does Reach Financial charge?
At Reach Financial, they offer loans with fixed annual percentage rates (APRs) that start at 5.99% and go up to 35.99%. Their origination fee ranges from 0% to 5%.
For example with a loan of $10,000, you could get an interest rate of 8.93%, an origination fee of $500, and an APR of 9.80%. That would result in a total payment of $12,435 spread out over 60 monthly payments of $207.20 each. Your actual rate may vary depending on your credit history and loan amount.
If you’re considering consolidating your debt with a loan from Reach Financial, be sure to shop around first and compare rates from other lenders.
You are pre-approved, does that guarantee financing?
No, being pre-approved for a personal loan does not guarantee that you will actually receive the loan. There are many factors that can affect your final approval, including your credit score, employment history, and income. So while being pre-approved is a good first step, it’s not a guarantee of financial success.
If you’re looking to improve your chances of getting approved for a loan, there are a few things you can do. First, make sure you have a strong credit score. Second, provide documentation of your employment and income. And finally, be prepared to answer any questions the lender may have about your finances. By taking these steps, you’ll increase your odds of getting approved for the loan you need.
What is the minimum credit score for a Reach Financial loan?
There is no definite answer because Reach Financial does not release any information regarding minimum credit score requirements. This makes it difficult to say for sure what the minimum score might be.
Before considering taking out a financial loan, make sure your credit score is in good shape. A strong credit score will give you a better chance of being approved for a loan from Reach Financial, and will also help you get a lower interest rate. Otherwise, you may end up paying more than you can afford.
How does Reach Financial affect your credit?
If you’re considering using Reach Financial, it’s important to understand how the company may affect your credit. Reach Financial does a hard pull inquiry on your credit report, which can ding your score by a few points.
So while this lender may offer some financial relief, it’s important to weigh the effects on your credit before making a decision.
How do you pay back Reach Financial?
To make a payment, log in to the Dashboard and click the “Make a Payment” link. Enter the amount of the payment, select the bank account you want the money to be deducted from, and decide whether you want the payment to be made from your next installment. Then click “CONTINUE.”
How to cancel your loan?
Once you have received the loan amount in your account, the loan cannot be canceled. The only way to cancel the loan is to do so prior to receiving the funds. Keep in mind that canceling a loan may have negative consequences. Make sure you have a good reason for taking out a personal loan with Reach Financial.
Are you finding it difficult to make ends meet? Here are some tips that might help you get back on track.
- When trying to save money, be sure to have a budget in mind. This will help you stay on track with your spending and avoid any difficult financial situations.
- You can always speak to a financial advisor to get more insights and find the best options for your budget and individual circumstances.
- Lastly, don’t forget that most companies have customer service teams who are more than happy to help arrange a payment plan that works better for you.
Is Reach Financial Legit or a Scam?
Although Reach.com has a good rating with the BBB, their online customer reviews are very mixed. Some customers have had a good experience, while others have not been so lucky.
You should always do your research and read customer reviews before making any decisions. This way, you can be more confident that you are making the right decision for your needs.
Have you had any experience with this lender? Let us know in the comments below.
Thank you for reading.