Many or all companies we feature compensate us. Compensation and editorial research influence how products appear on a page. Personal Loans Reprise Financial Review: Reliable Personal Loans for Fair and Bad Credit Updated Oct 22, 2024 10-min read Reviewed by Amanda Hankel Reviewed by Amanda Hankel Expertise: Writing, editing, digital publishing Amanda Hankel is a managing editor at LendEDU. She has more than seven years of experience covering various finance-related topics and has worked for more than 15 years overall in writing, editing, and publishing. Learn more about Amanda Hankel View Rates Personal Loans Available to bad- and fair-credit borrowers See prequalified rates without affecting your credit score Offers secured and unsecured personal loans Get funds as soon as the next business day Positive customer reviews Maximum loan amount is $25,000 Lacks transparency with regard to loan terms Doesn’t offer loans to self-employed borrowers Not available in all states* Rates (APR)9.99% – 36.00%Loan amounts$2,500 – $25,000Time to funding after approvalNext business day*Reprise Financial personal loans are not available in the following states: CO, CT, HI, IA, ME, MD, MA, NV, NJ, NY, SD, VT, WA, WV Reprise Financial offers personal loans to borrowers with bad or fair credit, making it a potential option for those struggling to qualify elsewhere. With funding as soon as the next business day, it’s designed for quick access to cash. However, self-employed borrowers and residents of some states won’t qualify, and there’s limited transparency about loan terms before prequalifying. Reprise allows borrowers to prequalify in a few minutes without affecting credit scores. Table of Contents Skip to Section Reprise Financial personal loan at a glanceHow does a Reprise Financial personal loan work?More about Reprise Financial Reprise Financial personal loan at a glance Here’s what you need to know about Reprise’s personal loans. TermsDetailsRates (APR)9.99% – 36.00%Loan amounts$2,500 – $25,000*Repayment periodVariesUnsecured or securedBothTime to funding after approvalNext business day*Minimum loan amount in Georgia is $3,500 and $10,500 in New Mexico How does a Reprise Financial personal loan work? The process starts with a quick prequalification, using a soft credit check that won’t affect your score. This lets you see your potential rate before moving forward with a full application and hard credit inquiry. Reprise Financial offers secured and unsecured loan options, giving you flexibility based on your needs. Keep in mind that state-specific regulations may affect minimum loan amounts in Georgia and New Mexico. Click below to expand each loan type Reprise offers and find out more about it. Unsecured loan These loans don’t require collateral, meaning you don’t need to pledge assets, such as a car or house, to obtain the loan. Unsecured loans are primarily based on the borrower’s creditworthiness. This option is less risky for the borrower because you won’t lose your property if you can’t make payments, but it often comes with higher interest rates, especially for those with lower credit scores. These loans could be suitable for for individuals without significant assets to use as collateral who have a decent credit history. Secured loan Secured personal loans require collateral. Reprise Financial allows borrowers to secure their loan with their vehicle, pledging their car as a guarantee for the loan. Securing a loan with an asset can improve your chances of approval and even increase the loan amount you are eligible for. It gives the lender the added security of the collateral, which it can claim in case of default on the loan. Secured loans often come with lower interest rates than unsecured loans, making them a more cost-effective option, especially for borrowers with lower credit scores or thin credit histories. They can also boost your approval chances and your loan amount. Securing a loan with an auto at Reprise Financial involves evaluating the vehicle to determine its value and using it as collateral. You must provide proof of ownership and insurance for the vehicle. You’ll primarily manage a loan with Reprise Financial online, logging in to your account to manage payments, view loan details, and interact with customer service. For those preferring a more hands-on approach, phone-based services are available for payments and autopay arrangements, but a processing fee applies for phone transactions. What can a Reprise Financial personal loan be used for? Reprise Financial offers personal loans for many purposes: Source: Reprise Financial It is important to use the loan responsibly and for purposes that align with your financial goals and capabilities. Who’s eligible for a Reprise Financial personal loan? Reprise Financial offers loans to borrowers with bad to fair credit, making it accessible to those who might not qualify with traditional lenders. To be eligible, you must be employed. Self-employment income isn’t accepted as a primary source. Reprise doesn’t disclose specific credit or income requirements, but steady, verifiable income is crucial. Check the table below for additional eligibility details and state availability. RequirementDetailsCitizenshipU.S. citizen or residentEmployment statusEmployed; self-employment as secondary incomeState of residenceListed states only (below)Minimum ageAge of majority in your state (typically 18)Minimum credit scoreNot disclosed; lends to bad and fair creditMinimum incomeNot disclosed; stable income requiredAdditional requirementsMaximum of 2 loans in 12 months States where Reprise Financial personal loans are available Alabama Alaska Arizona Arkansas California Delaware Florida Georgia Idaho Illinois Indiana Kansas Kentucky Louisiana Michigan Minnesota Mississippi Missouri Montana Nebraska New Hampshire New Mexico North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina Tennessee Texas Utah Virginia Wisconsin Wyoming What are the costs and fees of a Reprise Financial personal loan? Understanding the costs and fees associated with a Reprise Financial personal loan is crucial so you can gauge the total expense of borrowing. The cost of a loan from Reprise Financial includes the interest rates and any applicable fees. Interest rates The rates for Reprise Financial personal loans range from 9.99% to 36.00% APR. These rates influence the total cost of borrowing. The APR represents the yearly cost of the loan, including interest and fees, expressed as a percentage. Reprise Financial determines borrowers’ rates based on several factors, including credit history, income, employment status, and the amount and term of the loan. Borrowers with better credit profiles often qualify for lower rates. Fees In addition to interest rates, borrowers should be aware of any fees Reprise Financial charges. Although the company doesn’t disclose specific fee details, origination fees and late payment fees are common for personal loan lenders. Example To illustrate, imagine you take out a $10,000 loan from Reprise Financial at an APR of 20% for a term of five years. This includes an origination fee. Here’s what the costs would look like: Assuming no additional fees, the monthly payment would be about $265. Over the five-year term, you would pay a total of about $15,900—about $5,900 in interest. This example demonstrates how the APR affects the monthly payment and the total amount you repay over the life of the loan. Check out our personal loan calculator to see what payments might look like for different loan amounts, term lengths, and rates. How do you repay a personal loan from Reprise Financial? To repay its personal loans, Reprise Financial offers multiple options to suit different preferences and financial situations. Repayment options Online payments Automatic electronic draft (autopay) [Note: Reprise Financial does not provide a discount for autopay enrollment.] Phone payments (Note: A processing fee of $5.50 applies for this service.) Checks Cash payments (Note: These can be made at MoneyGram locations.) Reprise doesn’t charge a prepayment penalty if you pay off your personal loan early. Pros and cons of Reprise Financial Pros Lends to bad- and fair-credit borrowers Reprise Financial offers loans to those with lower credit scores. Option for secured or unsecured personal loan The ability to choose between secured and unsecured loans provides flexibility. Fast funding Getting funds as soon as the next business day is a major benefit for those in urgent need of financial resources. Good customer reviews Positive customer feedback indicates a reliable borrowing experience and quality customer service. Cons Maximum loan amount is $25,000 This limit is lower than many other online lenders offer, which may be restrictive for those needing larger loans. Loan details aren’t disclosed before prequalification Lack of upfront transparency in loan details can be a hurdle for borrowers comparing options. No loans for self-employed income This policy excludes a significant segment of potential borrowers who are self-employed. Not available in all states Limited geographical availability restricts access for some U.S. residents. Reprise Financial alternatives We recommend prequalifying for at least three personal loans to compare rates and terms from multiple lenders. Consider the following, which are several of our highest-rated lenders: Credible allows you to compare quotes from several lenders at once. Upgrade is our top choice for borrowers with FICO scores in the 580 to 669 range. Upstart is our highest-rated for those with little to no credit due to its flexible eligibility requirements. If you’re considering Reprise for a secured loan, Best Egg is an excellent alternative. CompanyBest for…Rating (0-5) Best marketplace 5.0 View Rates Best for fair credit 4.9 View Rates Best for thin credit 4.8 View Rates Best for a secured loan 4.8 View Rates Check out all of our top picks for personal loans and our complete list of reviewed personal loan lenders. Reprise Financial reviews from customers SourceCustomer ratingNumber of reviewsTrustpilot4.7/511,570Better Business Bureau4.01/5388Google4.1/52,109Collected on October 22, 2024 Reprise Financial appears to be a reputable lender with generally positive reviews across multiple platforms. The common theme across these reviews is the lender’s strong customer service, but areas for improvement exist, particularly in payment management and competitiveness of rates. Does Reprise Financial have a customer service team? Headquartered in Coppell, Texas, Reprise Financial’s customer service team is equipped to handle a wide range of customer needs, ensuring that borrowers get support throughout their loan journey. Ways to contact Reprise Financial: Email: Use the form on the company’s contact page. Phone number: Customer service: 877-505-6780, available 8 a.m. – 8 p.m. Central Monday – Friday, and 8 a.m. – 2 p.m. Central Saturday. Application support: 877-505-6780, available 8 a.m. – 10 p.m. Central Monday – Friday, 8 a.m. – 6 p.m. Central Saturday, and 9 a.m. – 1 p.m. Central Sunday. Mailing addresses: General inquiries: P.O. Box 9585, Coppell, TX 75019 Payment mailing: P.O. Box 660252, Dallas, TX 75266 How to apply for a Reprise Financial personal loan To apply for a Reprise Financial personal loan, you can check your rates through a soft credit inquiry, which does not affect your credit score. Once you proceed with the full application, Reprise Financial conducts a hard credit inquiry, which can lower your credit score. Here are the steps to apply for a Reprise Financial personal loan: 1. Check rates Visit Reprise Financial. If you have an invitation code, you can input the information and check your rates. If you don’t have an invitation, complete the rate check form to undergo a soft credit inquiry, which doesn’t affect your credit score. 2. Complete the full application If you decide to proceed after prequalifying, fill out the detailed application form. This step involves a hard credit inquiry, which can lower your credit score. 3. Gather required documents When completing your application, be prepared to provide the following information: Identity verification: Provide a copy of your driver’s license, state identification card, or passport. If needed, include recent utility bills or bank statements for proof of residency. Income verification: Submit a copy of your most recent bank statement, dated within 30 days of your application. Additional documents for secured loans: If applying for a loan secured by your vehicle, provide proof of insurance and photos of the vehicle. 4. Submit application and await response After submitting all required documents and information, wait for the loan approval process. 5. Loan approval and fund disbursement Upon approval, review and accept the loan terms. Funds are disbursed as soon as the business day after acceptance. This process is efficient, ensuring that applicants are well-informed at each step. Most personal loan lenders require similar documentation because it helps safeguard them and the borrower with accurate information and the ability to repay the loan. FAQ What are Reprise Financial’s credit score requirements? Reprise Financial doesn’t disclose a specific minimum credit score requirement. However, it lends to individuals with bad to fair credit, making it accessible to borrowers who may not qualify with more traditional lenders. Keep in mind that other factors, such as income and employment status, also play a role in loan approval. Can you have more than one Reprise Financial personal loan? No; Reprise Financial limits borrowers to a single loan at a time. This policy helps promote responsible borrowing and prevents borrowers from taking on too much debt. If you’re interested in applying for another loan, it’s best to contact Reprise Financial to understand its specific guidelines. Can you pay off a Reprise Financial personal loan early? Yes, you can pay off your Reprise Financial personal loan early without any penalties. This allows you to save on interest and potentially improve your credit score by clearing your debt sooner than planned.