Balance Credit Personal Loans Review 2025: High Rates, Few Upsides

3.6 _/5

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Our take: Balance Credit offers small, fast personal loans, but its sky-high rates can trap borrowers in a cycle of debt. We don’t recommend it unless you’ve exhausted other options. Before applying, compare top-rated lenders in our guide to the best personal loans for bad credit. Many offer lower rates and more flexible repayment terms.

Personal Loans

• Qualify even with bad credit
• Funding in as little as 1 business day
• Streamlined application process

• Potentially high annual percentage rates (APR)
• No soft credit check (so checking your rates will affect your credit score)
• Only available in 27 states

Rates (APR)	Not disclosed
Loan amounts	$100 – $4,000
Repayment terms	Up to 18 months

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Table of Contents

1. How Balance Credit works
2. Loan terms, rates, and eligibility
   1. Loan details
   2. Eligibility requirements
3. Pros and cons
4. Is Balance Credit legit?
   1. Customer reviews
5. Alternatives
   1. vs. Upgrade
   2. vs. Upstart
   3. vs. Prosper
   4. vs. best cash advances

How Balance Credit works

Balance Credit offers small personal loans online, primarily targeting borrowers with less-than-perfect credit. It provides these loans directly in some states and acts as a credit services organization (CSO) in others, connecting you to third-party lenders.

The entire application and funding process takes place online. Once approved, you could receive your money as soon as the next business day.

But while the process is fast and the credit requirements are lenient, Balance Credit’s interest rates are well beyond what most experts consider affordable.

You’ll repay your loan in fixed installments over time, but depending on your location and the amount you borrow, you could pay back more than double what you originally borrowed.

Loan terms, rates, and eligibility

Balance Credit loan details

Loan amounts	$100 – $4,000
Loan terms	Up to 18 months
Repayment	Biweekly, semi-monthly, or monthly
Rates (APR)	Not disclosed; can exceed 400%
Fees	No origination or prepayment fees; late and NSF fees may apply
Funding speed	As soon as the next business day

Balance Credit loans are unsecured, so you don’t need to provide collateral. Repayment is typically done via autopay from your linked bank account.

Eligibility requirements

To apply for a Balance Credit loan, you must:

• Be at least 18 years old
• Live in a state where Balance Credit operates (listed below)
• Have a proven source of income that meets the underwriting criteria
• Have a valid email address and verifiable phone number
• Maintain an active checking account

There’s no stated minimum credit score requirement, which can make it appealing if you’ve struggled with credit in the past.

However, because of the high interest charges, Balance Credit should be a last resort, not a go-to option for bad credit borrowers.

Upstart personal loans, for example, has no minimum required credit score, and its maximum APR is 35.99%:

Pros and cons

Pros

• Fast funding

  Approved borrowers may get their loan by the next business day.

• Low minimum loan amount

  You can borrow as little as $100, which is helpful for small, urgent expenses.

• No collateral required

  These are unsecured personal loans; you don’t need to pledge your car or savings to qualify.

• Lenient credit requirements

  Balance Credit considers applicants with bad credit or thin credit files.

Cons

• Sky-high APRs

  Rates can exceed 400% in some states, which is well above the 36% cap most experts recommend.

• Limited availability

  Balance Credit only lends or operates as a CSO in select states.

• Small loan limits

  The $4,000 cap may not be enough if you’re looking to consolidate debt or cover large expenses.

• Not transparent with rates

  The website doesn’t clearly disclose APR ranges, making it harder to compare costs upfront.

• Risk of a debt trap

  The high cost of borrowing may make it difficult to repay your loan without rolling it over or reborrowing, especially for longer terms.

• No way to see rates without affecting credit

  Balance Credit doesn’t offer a way to see what rate you qualify for without a hard credit check, which can lower your credit score by a few points.

Is Balance Credit legit?

Yes, Balance Credit is a legitimate company, but legitimacy doesn’t mean it’s a good deal.

The company is operated by SunUp Financial LLC, based in Chicago, Illinois. It’s a licensed lender in some states and acts as a credit services organization (CSO) in others, meaning it refers borrowers to third-party lenders while charging additional fees.

It has been in business for over a decade and has funded loans for hundreds of thousands of customers.

Balance Credit customer reviews

Source	Rating	Number of reviews
Trustpilot	4.9/5	4,430
Better Business Bureau	1.0/5	28

Alternatives

Balance Credit isn’t your only option, especially if you’re looking for lower interest rates, larger loan amounts, or a more transparent lender experience. Here’s how it stacks up against personal loan lenders that earn higher ratings:

Balance Credit vs. Upgrade

Upgrade offers personal loans and credit lines with clear repayment schedules and no prepayment penalties. If you’re looking to consolidate debt or fund a larger purchase, Upgrade will likely cost you far less.

Balance Credit vs. Upstart

Upstart uses AI to evaluate nontraditional credit factors (like education and job history), which can help you qualify for lower rates, even if your credit is average or thin. It’s one of our top picks for personal loans overall.

Balance Credit vs. Prosper

Prosper is a peer-to-peer lending platform with a fast, transparent process and more competitive rates than Balance Credit. It’s a solid alternative for borrowers with fair or better credit.

Balance Credit vs. best cash advances

If you only need to borrow a few hundred dollars or less, EarnIn and the other companies below are much cheaper options. You’ll avoid interest entirely, and qualified new users can get $100 instantly from EarnIn with no fees. Unlike Balance Credit, these options can help you avoid a high-cost debt trap.

How we rated Balance Credit

We designed LendEDU’s editorial rating system 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.

We compared Balance Credit 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, recapped below.