When it comes to personal loans, Heights Finance is a company that often comes up in online discussions. Some people say that it’s a scam, while others swear by the company and its services. So what’s the truth? Is Heights Finance legit or is it a scam? In this blog post, we’ll take a closer look at Heights Finance and see what consumers have to say about it.
Heights Finance is a personal loan company that offers loans of up to $10,000. The company has been in business since 1994 and is headquartered in Greenville, South Carolina. Heights Finance offers both secured and unsecured personal loans, and the interest rates on its loans are between 11.99% and 35.99%.
So what do consumers have to say about Heights Finance? Well, the company has an A+ rating with the Better Business Bureau and has been accredited by the BBB since 2015. However, the BBB website shows a rating of 1 star.
In addition, a quick search online reveals mostly negative reviews for Heights Finance. Many reviewers say that the company is a scam and that they were promised one thing but received something else. Others say that they were approved for a loan but never received the money.
So what’s the verdict? Is Heights Finance a scam or is it legit? Based on the reviews and ratings, it seems that Heights Finance is not a company that can be trusted. If you’re considering taking out a loan with Heights Finance, you may want to look elsewhere.
1.0 out of 5.0 stars
Heights Finance Pros and Cons
When it comes to personal loans, Heights Finance has more cons than pros. One of the biggest drawbacks is their high-interest rates. In fact, many customers have complained about being charged sky-high rates, even if they have good credit.
Another issue is that the company has been known to change the terms of their loans without notice, which can make it difficult for borrowers to keep up with their payments.
Another downside is that this lender does not work with everyone. So if you don’t live in one of the states where they operate, you’re out of luck.
Finally, there have been a lot of complaints about Heights Finance’s customer service. Many customers report feeling treated rudely or like they’re being ignored.
Overall, it seems that Heights Finance is a company to avoid if you’re looking for a personal loan. There are better options out there that will give you more favorable terms and better customer service.
What is Heights Finance?
Heights Finance is a personal loan company that offers loans to people with bad credit. The interest rates are high and the terms of the loan are very strict. They are also using a bait and switch scheme where they will offer you a loan with a low-interest rate and then switch you to a higher interest rate after you have signed the contract.
This is how they make their money and it is why we do not recommend using this company. There are better options out there for people with bad credit. Do your research and choose a personal loan company that is honest and has fair interest rates.
How does Heights Finance work?
The company lures customers in with low-interest rates but then switches them to higher rates once they have been approved for the loan. This scheme leaves many customers struggling to make their monthly payments, and often results in them defaulting on their loans.
In addition, the company has been known to use aggressive collection tactics, which can further damage a person’s financial situation. If you’re considering taking out a personal loan from Heights Finance, be sure to do your research and understand all of the terms and conditions before signing anything.
Heights Finance has been known to take advantage of its customers, and it is important to be aware of their tactics before you apply for a loan with them.
How to qualify for a Heights Finance personal loan?
If you’re looking to take out a personal loan, there are a few things you’ll need to qualify. Most importantly, you’ll need to prove your income and residence. You’ll also need to provide your social security number and have a non-expired driver’s license or government-issued ID. Lastly, acceptable collateral is required for most personal loans.
If you have all of these things in order, then you should have no problem qualifying for a personal loan from Heights Finance.
What is the APR on a Heights Finance personal loan?
The answer to this question depends on a few factors, including the loan amount, the loan term, and your personal credit history. However, in general, personal loans from Heights Finance tend to have higher APRs than other types of loans.
Height Finance APRs range from 15.99% – to 35.99%, with the majority of their customers falling into the 20.99% – 28.99% APR range. However, they have personal loan options for those with good credit history and higher incomes that can qualify for our lowest rate of 15.99%.
If you’re considering taking out a personal loan, it’s important to understand how APRs work and how they can affect the total cost of your loan. The Annual Percentage Rate (APR) is the interest rate charged on an annual basis, and it includes any additional fees or charges associated with the loan. For example, if you take out a personal loan for $1000 with an APR of 20%, you would owe $200 in interest after one year.
When comparing personal loans from different lenders, be sure to compare APRs rather than just interest rates. The APR will give you a more accurate picture of the total cost of the loan.
If you’re considering taking out a personal loan from Heights Finance, be sure to shop around and compare APRs from other lenders before making a decision. While Heights Finance personal loans tend to have higher APRs, they may still offer the best option depending on your individual circumstances.
What kind of loans does Heights Finance offer?
Heights Finance offers installment loans, which are loans that are repaid in equal monthly payments. These loans can be used for a variety of purposes, such as consolidating debt, making home improvements, or paying for unexpected expenses.
If you are considering an installment loan from Heights Finance, you will need to meet the following criteria:
- You must have a steady source of income
- Your income must be sufficient to cover the loan payments
- You must have a good credit history
If you meet these criteria, then you may be eligible for an installment loan from Heights Finance.
What is the minimum credit score for a Heights Finance personal loan?
The minimum credit score for a Heights Finance personal loan is 640. However, they may be able to approve your loan with a lower credit score if you have strong credit factors in other areas.
If you’re not sure what your credit score is, you can check it for free on websites like Credit Karma or Credit Sesame. Or, you can order a copy of your credit report from AnnualCreditReport.com. Once you know your credit score, you can start shopping for personal loans.
Be sure to look at the interest rate, fees, and repayment terms before making a decision.
How does Heights Finance affect your credit?
If you’re considering taking out a loan from Heights Finance, it’s important to understand how it could affect your credit score. Taking out a loan from Heights Finance will result in a hard pull on your credit report, which can temporarily lower your score by a few points.
If you make your payments on time and in full, however, there’s no reason why taking out a loan from Heights Finance should have a lasting impact on your credit score. But if you miss a payment or make a late payment, that could damage your credit score and remain on your credit report for up to seven years.
So if you’re thinking about taking out a loan from Heights Finance, be sure to consider how it could affect your credit before making any decisions.
How to cancel Heights Finance?
If you’re not happy with your Heights Finance personal loan, you have the right to cancel it. Here’s what you need to do:
- First, contact customer service and tell them that you want to cancel your loan. They will likely ask you for a reason why. Be honest but concise in your explanation.
- Next, they will direct you to fill out a form called a “Loan Cancellation Request.” This form asks for basic information like your name, address, and loan amount.
- Make sure to pay any outstanding balance on your loan before you cancel. Once you cancel, you will no longer be responsible for making payments, but any unpaid balance will still accrue interest.
- Once the form is complete, sign it and send it back to customer service. Make sure to keep a copy of the form for your records.
- Finally, wait for confirmation from customer service that your loan has been canceled. This process can take up to a few weeks.
If you have any questions or problems during this process, feel free to reach out to customer service for help. They should be able to walk you through the steps and help resolve any issues.
Who is Heights Finance affiliated with?
Heights Finance is a part of the Southern Company, which is a conglomerate of a number of smaller companies. Some of these companies include Covington Credit, Quick Credit Corporation, and Southern Finance of South Carolina.
While the Southern Company has a good reputation, Heights Finance has a lot of complaints against it. Most of these complaints are regarding the high-interest rates and fees that Heights Finance charges.
Heights Finance BBB Reviews
Heights Finance BBB Reviews show that they have a lot of complaints. In fact, they have had 74 complaints closed in the last three years and 21 in the last twelve months. That is a lot of complaints about a company to have. And it is not just BBB complaints, but other places too. If you are thinking about using their services, you might want to think twice.
Here are some Height Finance BBB Reviews:
Crystal S 02/07/20221.0 out of 5.0 stars
When I opened this loan account I was told that there would be insurance attached if I ever lost my job or became disabled. I did in fact lose my job and contacted the company. I was told to come in and fill out paperwork and my loan payments would be taken care of until I returned to work. After a whole month since the time, I notified the company of unemployment and was waiting for help on this I was told that I now owe two payments because I wasn’t out of work long enough. They even tried to tell me that my payment would be considered only once and I could not be late again without paying in full and I had a late payment. What a way to put your customer in a bind. I would NOT suggest ever doing business with this company!
Rae R 02/05/20221.0 out of 5.0 stars
Whew! I’m so glad I read these reviews, I think I just dodged a bullet Lol! It’s so sad that these things have happened to SO MANY PEOPLE! I was 2 seconds away from submitting my information and something said READ THE REVIEWS and holey smokes is this a shady/malicious company? I would NEVER apply here, this company needs to be out of business.
Judy P 11/30/20211.0 out of 5.0 stars
Heights Finance in Eau Claire Wis is the ABSOLUTE WORST! Nothing but double talk, workers or a lack of REFUSE to answer their emails, NEVER call back when they say they will, constantly blaming it on just 1 person working, told us there were no funds available for a rewrite of a loan that they said they would do over a MONTH ago! Very bad attitudes! Blames computer system for everything. REFUSED to give a receipt for cash payment! ABSOLUTELY DISGUSTED!!
Ben E 10/14/20211.0 out of 5.0 stars
Fraudsters sending “preapproved” unsolicited checks in the mail with 100%+ interest. Shady business practices. Never contact me again.
Is Heights Finance Legit or a Scam?
If you’re considering using Heights Finance, you may want to think twice. The company has many complaints filed against it, and some have even accused it of being a bait-and-switch scam.
So what exactly is a bait-and-switch scam? It’s when a company uses deceptive practices to lure customers in, only to switch them to a different product or service that they may not even want. In many cases, the customer is left with an inferior product or service and often pays more than they would have if they had just gone with the original option.
Heights Finance has been accused of this exact thing. Customers have said that they were promised one thing, only to be given something else entirely. In some cases, the customer ended up paying more than they originally agreed to.
If you’re considering using Heights Finance, you may want to reconsider. There are many other options out there that don’t have the same complaints against them. You don’t want to end up being scammed, so it’s best to play it safe and go with a company that has a good reputation.
Do you have any experience with Heights Finance? Let us know in the comments below!
Thank you for reading.