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Universal Credit Overview
Universal credit is an online lending platform that is powered by fintech form from upgrade which was in operation in 2017. Universal credit is not a bank itself but it allows people to take loans from them through its lending partners. It specializes in personal loans, especially for bad debt consolidation.
Universal Credit Also offers a mobile app to manage the loan process and progress.
Pros
- Loan amount starting from $1,000 – $50,000
- Soft Pull Credit check available
- Universal Credit offers Option to change your payment date.
- Offers rate discount with direct payment to creditors on debt consolidation loans..{alertSuccess}
Cons
- Universal Credit charges origination fees.( See the rates below)
- Universal Credit offers No co-sign, joint or secured loan option.
- Universal Credit Potentialy charges higher APR of 35.43% {alertError}
Get Debt Consolidation Loan
Universal Credit offers personal loans for many purposes such as debt consolidation, home improvements, and big purchases. So if you are looking for a big loan amount then Universal Credit can be the best option for you if you have a bad credit score.
So Universal credit offers both types of personal loans debt consolidation loans and personal loans both the loans are with fixed rates and fixed terms so if you are looking for a debt consolidation loan then your funds can be distributed directly to your creditors so that you have only one payment in a month so you don’t need to worry about all the payment each months.
Annual Interest Rate and Fees
Universal Credit offers an annual interest rate of 8.93% to 35.93%. The APR will depend upon your credit score and your creditworthiness. There are also more things you need to know before you apply for this loan like the Fees and Charges of this loan.
The Universal credit charges an origination fee of 4.25% – 8% of the loan amount which will be deducted at the time of loan funding.
Minimum Credit Score Required
Offered Loan Amount
Eligibility Criteria
Required Documents
- Valid Identity Proof, VIsa
- Have to provide a DOB.
- Valid current mobile number and Email id.
- An active American bank account.
Repayments Terms
Example of the Universal Credit loan
Apply for Universal Credit :
Who is this loan good for
Editorial Note: MakeHelpOf does not receive any commission from any website or third-party advertisers. This is just a review article based on consumers’ experiences from the internet. It’s accurate to the best of our knowledge when it’s posted. Please read all the information carefully before you make any decision. {alertInfo}