Achieve Personal Loans Review: A Solid Pick for Creditworthy Borrowers

4.8 _/5

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Personal Loan

• Best for good or excellent credit
• Pre-approval application soft credit pull to apply won’t affect your credit score
• Loan amounts range from $5,000 to $50,000

• Origination fees of 1.99% to 6.99% added to monthly loan payments
• Not available in every state

Rates (APR)	8.99% — 35.99%
Loan amounts	$5,000 — $50,000
Repayment terms	24 — 60 months
Min. credit score	620

Achieve personal loans are a strong option for borrowers with good to excellent credit who want to consolidate debt or cover a large expense—and want the process to be as quick and straightforward as possible. The company offers a fast online pre-approval process, fixed-rate terms, and loan amounts tailored to your creditworthiness. It’s best suited for those who prioritize customer service and a streamlined digital experience.

Achieve earns high marks from customers, with a 4.9 out of 5 rating on Trustpilot and an A+ from the Better Business Bureau. Borrowers frequently praise the company’s helpful loan consultants and smooth application process. Just be aware: a few reviewers said the time to receive funds was longer than initially expected, so it may not be the best fit if you need money urgently.

Table of Contents

1. About Achieve 
2. How does an Achieve personal loan work? 
   1. Rates and terms
   2. Uses 
   3. Eligibility requirements 
   4. Costs and fees
   5. Repayment
3. Pros and cons
4. Alternatives to Achieve personal loans
5. How we rated Achieve

About Achieve 

Achieve was founded in 2002 as Freedom Financial Network by Andrew Housser and Brad Stroh in San Mateo, California. Achieve’s mission is to help people move toward a better financial future. Achieve offers personal loans to applicants with good or excellent credit to help pay off debt, recover from financial setbacks, make home improvements and more. Achieve also offers home equity loans and debt resolution acceleration loans.

Since 2002, Freedom Financial Network and Achieve have processed more than $7.5 billion in loans for more than 450,000 applicants. The company has an A+ Better Business Bureau rating.

How does an Achieve personal loan work? 

Applying online for an Achieve personal loan is easy and takes only a few minutes. Applying for pre-approval with Achieve is a “soft pull” that won’t affect your credit. Applicants typically receive a pre-approval loan offer on the same day. 

Applicants can communicate via email with a loan consultant who will help customize the loan amount and terms and answer questions. In some cases, same-day approval is possible. The full application process requires a “hard pull” on your credit, which may slightly and temporarily affect your credit.

Borrowers can make automatic payments via ACH or use an online portal to make payments and manage their accounts. Achieve also offers a free Money Left Over app to link bank accounts, credit cards, and loans and track spending habits to check whether they’re on track to come ahead or behind on monthly expenses.

Rates and terms

Term	Details
Minimum credit score	620
Minimum income	40% of annual income determines loan amount
Rate discounts	Co-borrower discount; Direct-pay discount if Achieve uses your loan funds to pay a portion of debt owed to your creditors; Discount if you have an approved retirement account
Loan amounts	$5,000 — $50,000
Repayment period	24 — 60 months
Unsecured or secured	Unsecured (secured if home equity loan)
Joint loans	Yes
Time to funding after approval	Within 20 business days
Fees	Origination fee ranging from 1.99% — 6.99%
Unique features	Quick application for loan amount and terms  Applicants set monthly payment date and length of repayment  Same-day approval

Uses 

Achieve loans can be used for a variety of purposes. When you apply, you must state what you’ll use the loan proceeds for, such as:

• Consolidating debt
• Making home improvements
• Purchasing major items
• Refinancing credit cards
• Going on vacations
• Paying medical bills
• Paying moving costs 
• Funding a wedding
• And more

Borrowers must state on their application how they plan to use the loan and then use the proceeds for only that purpose. Achieve uses this information to determine the fixed rate APR. If you plan to use the loan proceeds to consolidate debt, Achieve typically offers a lower APR if you allow the company to pay your creditors directly with loan proceeds.

Eligibility requirements 

You need a credit score of at least 620 to be eligible for an Achieve personal loan. Achieve also takes into account your income, debt and financial needs to determine your loan amount, fixed rate and monthly payment.

Achieve also allows joint loans with a qualified co-borrower with enough income to repay the loan. In fact, adding a co-borrower on the loan may help you qualify for a co-borrower discount and a lower APR. Achieve considers the co-borrowers’ combined income and sets the rate using the better credit profile.

Requirement	Details
Citizenship	Must be a U.S. citizen or legal permanent resident
Employment status	Not disclosed, but applicants must have sufficient income
State of residence	Not available to residents of Colorado, Connecticut, Hawaii, Kansas, Maine, North Dakota, Vermont, West Virginia, Wisconsin, and Wyoming
Minimum age	18
Minimum credit score	620
Minimum income	Annual income x .40%. For example, if your income is $12,500, the eligible loan amount would be $5,000.

Costs and fees

Achieve loan fixed rates range from 8.99% to 35.99% based on your credit, debt, income, and loan repayment period. To receive the 8.99% APR on a loan, you must have excellent credit, a loan amount of less than $12,000, and loan terms with a 24-month repayment period.

Achieve sets your fixed APR by reviewing your credit score, loan amount, loan repayment period, credit usage, credit history, and any eligibility restrictions.

Achieve charges loan origination fees ranging from 1.99% to 6.99%, deducted from the loan proceeds. For example, a 1.99% origination fee on a $10,000 loan would be approximately $200. If the origination fee on the same amount were 6.99%, the fee would be about $700. So, it’s important to factor in this extra fee when deciding on a loan amount.

Repayment

Repayment periods for Achieve loans are 2,3,4 or 5 years. Generally, the longer the repayment period, the more you’ll pay in total interest on the loan. 

After you apply, a loan consultant will help you customize the best repayment period for your financial situation. Achieve lets you set your monthly payment date. This allows you to budget payment on a date that fits your payday and other monthly expenses.

If you pay your loan off early, there are no early payoff or prepayment penalties.

Pros and cons of Achieve personal loans

Pros

• Easy, fast application process

• Low, fixed rates

• Soft-pull pre-approval application won’t affect credit

• Applicants set their payment date

• Flexible repayment options

• Co-borrower, creditor direct pay, and other discounts

• 4.9 Trustpilot rating and A+ Better Business Bureau rating

Cons

• Origination fees ranging from 1.99% to 6.99% are added to monthly loan payments

• Not available to residents of every state

• Some negative customer reviews cite funding took longer than promised.

• Highest APRs could cost borrowers more than if they paid off credit cards that have a lower APR

Alternatives to Achieve personal loans

The advantages to Achieve personal loans include a low, fixed APR of 8.99% to qualified applicants borrowing less than $12,000 and repaying the loan in two years. However, the fixed rate can be as high as 35.99%. 

On the downside, Achieve charges an origination fee of 1.99% to 6.99%, which is deducted from loan proceeds. Also, if you live in a state where Achieve doesn’t offer loans, you won’t be eligible for an Achieve loan. If you qualify for the lowest or a lower APR, an Achieve loan may be a good option for consolidating debt, making home improvements, and more. 

However, if you’re eligible only for the highest or one of the higher fixed rates, you may want to explore less costly rates with other personal loan providers. 

• You may find a lower APR at SoFi, which our editorial team found best for borrowers with good credit. 
• Another option is to apply for a loan with Upgrade, which our editorial team found best for borrowers with fair credit.

Overall, Achieve could improve the user experience by providing more detailed information on its website about loan restrictions and payment options. This would allow borrowers to make a more informed decision about applying for an Achieve personal loan.

How we rated Achieve

LendEDU’s editorial rating system is designed to help readers find companies that offer the best personal loans. Our system awards higher ratings to companies with affordable solutions, positive customer reviews, and online transparency of benefits and terms.
Achieve was compared to several personal loan lenders, using hundreds of data points from company websites, public disclosures, customer reviews, and direct communication with company representatives. We weighted, scored, and combined each factor to produce a final editorial rating. This rating is expressed on a scale from 1 to 5, with 5 being the highest possible score. Our take is represented in our rating and best-for designation, recapped below.