Our take: Fig Loans offers a safer, more transparent alternative to payday loans, with fast funding and no credit check required. Its installment and credit builder loans can help borrowers with limited credit history access cash or build credit. But high APRs and small loan amounts mean it’s best suited for emergencies or short-term credit improvement.
Installment Loans
- No credit score required
- Quick funding
- Online banking requirement
- High APRs
- Small loan amounts
- Limited availability
Only available in: CA, MO, UT, TX, OH, FL
| Fixed rates (APR) | 199% – 211%, depending on state |
| Loan amounts | $50 – $500, depending on state |
| Repayment period | 1 month – 6 months, depending on state |
| Time to funding after approval | Decision in 1 day; Funds in 1-3 business days |
| Fees | Vary by state; One-time account opening fee |
Credit Builder Loans
| Amounts | $500 – $1,000 |
| Term length | 12 months |
| Rate | As low as 4% APR |
| Credit bureaus reported to | TransUnion, Equifax, and Experian |
| Unique features | Reverse loan: Instead of receiving money upfront, you make 12 manageable monthly payments into a savings account. If your payment is close to being 30 days late, Fig proactively closes the loan to protect your credit. |
Founded in 2015, Fig Loans is a mission-driven lender designed to support working-class Americans who may not qualify for traditional credit.
It began in Houston, Texas, as a partnership with United Way THRIVE to offer a safer, more transparent alternative to payday loans.
What is a Fig loan?
Fig Loans offers short-term installment loans and credit builder loans in six states: Texas, Missouri, Ohio, Utah, Florida, and California.
Though marketed as a payday loan alternative, Fig’s installment loans have high APRs (199% to 211%), far above those of traditional personal loans.
Fig’s credit builder loan allows borrowers to build credit by making monthly payments, which are reported to all three major credit bureaus. Borrowers get their funds back at the end of the term, minus interest and fees.
While Fig Loans provides access and credit-building opportunities, borrowers should compare costs with other lenders before applying.
Fig installment loans at a glance
Fig Loans offers small, short-term personal loans known as installment loans.
| Fixed rates (APR) | 199% – 211%, depending on state |
| Loan amounts | $50 – $500, depending on state |
| Repayment period | 1 month – 6 months, depending on state |
| Time to funding after approval | Decision in 1 day; Funds in 1-3 business days |
| Fees | Vary by state; One-time account opening fee |
Fig Loans designed its personal loan process to be straightforward and accessible, especially for those who may not qualify for traditional loans.
Eligibility requirements
Fig Loans personal loans cater to people who might struggle with traditional credit requirements. Fig Loans does not require a credit check, making it an accessible option for those with poor or no credit history.
Here’s the full breakdown of eligibility requirements for a Fig Loans personal loan:
| Requirement type | Details |
|---|---|
| Citizenship | Not specified, but U.S. bank account required |
| Employment status | 3 months of direct deposits required |
| State of residence | California, Missouri, Utah, Texas, Ohio, Florida |
| Credit score check | None required |
| Minimum income | Monthly deposits of at least $1,400 |
| Other requirements | Internet connection Online application capability Phone number Social Security number Government-issued photo ID Online banking |
Costs and fees
When you apply for a Fig Loan, your fixed APR varies by state, typically ranging between 199% to 211%. This rate is based on the loan amount and the state you reside in.
Fig Loans markets itself as a payday loan alternative, meaning it’s likely a better option than a traditional payday loan, which can have an APR of up to 400%. Still, Fig’s APR is much higher than a traditional personal loan. Our best personal loan selections have maximum APRs near 36%.
Other cost and fees include:
- Administrative fee: This varies based on the state and the amount borrowed. It’s an additional charge for account opening and loan processing.
- Other fees: Fig doesn’t disclose membership fees, but we recommend verifying whether additional fees apply during the application process.
Repayment
Repayment terms are specific to each state.
- In California, borrowers repay the loan and interest in a single installment one month after the loan is issued.
- Florida offers an 84-day repayment period with biweekly payments.
- Missouri, Ohio, and Texas have monthly repayment schedules spread over four months.
- In Utah, it’s spread over six months.
Payments are automatically deducted from the borrower’s bank account on the agreed-upon dates, and borrowers can track their payments and manage their accounts online.
Pros and cons
Pros
-
No credit score required
-
Quick funding
-
No early repayment penalty
Cons
-
Online banking requirement
-
High APRs
-
Limited availability
-
Small loan amounts
Alternatives
Paycheck advance apps
For quick advances of $1,000 or less, we recommend reputable cash advance apps as a more convenient and cost-effective solution.
Best for Early Paycheck Access Without Fees
Max. advance
$1,000
Instant fee
$2.99
Delivery speed
1–3 days standard, instant
Best for Stacking Multiple Small Advances
Max. advance
$750
Instant fee
Varies
Delivery speed
1–3 days standard, instant
Best for Overdraft Protection and Budget Coaching
Terms & Disclosures
Not everyone will qualify. Offers range from $10-$500 and can go up with on-time payments. In Q2 2026, the average offer was $98 for first-time customers and $172 for all others. Instant delivery is optional—see fees in Tilt’s Terms.
Tilt offers a 14-day trial for new customers followed by an auto-recurring $8/month subscription fee. Cancel anytime.
Terms & Disclosures
Not everyone will qualify. Offers range from $10-$500 and can go up with on-time payments. In Q2 2026, the average offer was $98 for first-time customers and $172 for all others. Instant delivery is optional—see fees in Tilt’s Terms.
Tilt offers a 14-day trial for new customers followed by an auto-recurring $8/month subscription fee. Cancel anytime.
Max. advance
$300
Instant fee
Included in $8/month fee
Delivery speed
Instant
Terms & Disclosures
Not everyone will qualify. Offers range from $10-$500 and can go up with on-time payments. In Q2 2026, the average offer was $98 for first-time customers and $172 for all others. Instant delivery is optional—see fees in Tilt’s Terms.
Tilt offers a 14-day trial for new customers followed by an auto-recurring $8/month subscription fee. Cancel anytime.
Best for Small Advances and Side Hustle Matching
Max. advance
$500
Instant fee
1.5% of amount for external card; $0 to Dave account
Delivery speed
1–3 days (standard), instant
Best for Fee-Free Overdraft With SpotMe
Terms & Disclosures
Chime Disclosures
- SpotMe® on Credit is an optional, no interest/no fee overdraft line of credit tied to the Secured Deposit Account. SpotMe on Debit is an optional, no fee service attached to your Chime Checking Account (individually or collectively, “SpotMe”). Eligibility for SpotMe requires $200 or more in qualifying direct deposits to your Chime Checking Account each month. Qualifying members will be allowed to overdraw their Chime Checking Account and/or their Secured Deposit Account up to $20 in total, but may be later eligible for a higher combined limit of up to $200 or more based on member’s Chime account history, direct deposit frequency and amount, spending activity and other risk-based factors. Your SpotMe Limit will be displayed to you within the Chime mobile app. You will receive notice of any changes to your SpotMe Limit. SpotMe for Credit and SpotMe on Debit share a single SpotMe limit. Your SpotMe Limit may change at any time, at Chime or its banking partners’ discretion. Although there are no overdraft fees, there may be out-of-network or third-party fees associated with ATM transactions or OTC cash withdrawal fees at retailers. SpotMe won’t cover non-card transactions, including ACH transfers, Pay Anyone transfers, or Chime Checkbook transactions. SpotMe terms and conditions.
- Round Ups automatically round up debit card and credit card purchases to the nearest dollar and transfers the round up from your Chime Checking Account into your savings account.
- Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. We generally make these funds available on the day the payment file is received, which may be up to 2 days earlier than the scheduled payment date.
Terms & Disclosures
Chime Disclosures
- SpotMe® on Credit is an optional, no interest/no fee overdraft line of credit tied to the Secured Deposit Account. SpotMe on Debit is an optional, no fee service attached to your Chime Checking Account (individually or collectively, “SpotMe”). Eligibility for SpotMe requires $200 or more in qualifying direct deposits to your Chime Checking Account each month. Qualifying members will be allowed to overdraw their Chime Checking Account and/or their Secured Deposit Account up to $20 in total, but may be later eligible for a higher combined limit of up to $200 or more based on member’s Chime account history, direct deposit frequency and amount, spending activity and other risk-based factors. Your SpotMe Limit will be displayed to you within the Chime mobile app. You will receive notice of any changes to your SpotMe Limit. SpotMe for Credit and SpotMe on Debit share a single SpotMe limit. Your SpotMe Limit may change at any time, at Chime or its banking partners’ discretion. Although there are no overdraft fees, there may be out-of-network or third-party fees associated with ATM transactions or OTC cash withdrawal fees at retailers. SpotMe won’t cover non-card transactions, including ACH transfers, Pay Anyone transfers, or Chime Checkbook transactions. SpotMe terms and conditions.
- Round Ups automatically round up debit card and credit card purchases to the nearest dollar and transfers the round up from your Chime Checking Account into your savings account.
- Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. We generally make these funds available on the day the payment file is received, which may be up to 2 days earlier than the scheduled payment date.
Max. advance
$200
Instant fee
None (optional tip)
Delivery speed
Instant for debit purchases
Terms & Disclosures
Chime Disclosures
- SpotMe® on Credit is an optional, no interest/no fee overdraft line of credit tied to the Secured Deposit Account. SpotMe on Debit is an optional, no fee service attached to your Chime Checking Account (individually or collectively, “SpotMe”). Eligibility for SpotMe requires $200 or more in qualifying direct deposits to your Chime Checking Account each month. Qualifying members will be allowed to overdraw their Chime Checking Account and/or their Secured Deposit Account up to $20 in total, but may be later eligible for a higher combined limit of up to $200 or more based on member’s Chime account history, direct deposit frequency and amount, spending activity and other risk-based factors. Your SpotMe Limit will be displayed to you within the Chime mobile app. You will receive notice of any changes to your SpotMe Limit. SpotMe for Credit and SpotMe on Debit share a single SpotMe limit. Your SpotMe Limit may change at any time, at Chime or its banking partners’ discretion. Although there are no overdraft fees, there may be out-of-network or third-party fees associated with ATM transactions or OTC cash withdrawal fees at retailers. SpotMe won’t cover non-card transactions, including ACH transfers, Pay Anyone transfers, or Chime Checkbook transactions. SpotMe terms and conditions.
- Round Ups automatically round up debit card and credit card purchases to the nearest dollar and transfers the round up from your Chime Checking Account into your savings account.
- Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. We generally make these funds available on the day the payment file is received, which may be up to 2 days earlier than the scheduled payment date.
Best for Earning Larger Advances Over Time
Max. advance
$1,000
Instant fee
$0.49–$8.99
Delivery speed
1–5 days standard, instant
For those who can qualify, and are interested in borrowing $1,000 or more, alternatives SoFi, PenFed, Upstart, Personify, and OppLoans might provide more favorable terms, such as lower APRs and broader loan options.
Personal loans
Best Marketplace
Fixed APR
6.49% – 35.99%
Funding
$1K – $200K
Term (Yrs.)
1 – 10
Best for Good Credit
Includes all discounts.
Terms & Disclosures
- Terms and conditions apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. To qualify, a borrower must be a U.S. citizen or other eligible status, be residing in the U.S., and meet SoFi’s underwriting requirements. Not all borrowers receive the lowest rate. Lowest rates reserved for the most creditworthy borrowers. If approved, your actual rate will be within the range of rates at the time of application and will depend on a variety of factors, including term of loan, evaluation of your creditworthiness, income, and other factors. If SoFi is unable to offer you a loan but matches you for a loan with a participating bank, then your rate may be outside the range of rates listed above. Rates and Terms are subject to change at any time without notice. SoFi Personal Loans can be used for any lawful personal, family, or household purposes and may not be used for post-secondary education expenses. Minimum loan amount is $5,000. The average of SoFi Personal Loans funded in 2025 was around $32K. Based on loans funded from 1/1/2025-12/31/2025. Information current as of 10/02/26. SoFi Personal Loans originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org). See SoFi.com/legal for state-specific license details. See SoFi.com/eligibility for details and state restrictions.
- Fixed rates from 6.99% APR to 35.49% APR. APR reflect the 0.25% autopay interest rate discount and a 0.25% member rate discount. SoFi Platform personal loans are made either by SoFi Bank, N.A. or , Cross River Bank, a New Jersey State Chartered Commercial Bank, operating from its Delaware branch, Member FDIC, Equal Housing Lender. SoFi may receive compensation if you take out a loan originated by Cross River Bank. These rate ranges are current as of 10/02/26 and are subject to change without notice. Not all rates and amounts available in all states. See SoFi Personal Loan eligibility details at https://www.sofi.com/eligibilitycriteria/#eligibility-personal. Not all applicants qualify for the lowest rate. Lowest rates reserved for the most creditworthy borrowers. Your actual rate will be within the range of rates listed above and will depend on a variety of factors, including evaluation of your credit worthiness, income, and other factors. Loan amounts range from $5,000– $100,000. The APR is the cost of credit as a yearly rate and reflects both your interest rate and an origination fee of 9.99% of your loan amount for Cross River Bank originated loans which will be deducted from any loan proceeds you receive and for SoFi Bank originated loans have an origination fee of 0%-7%, will be deducted from any loan proceeds you receive.
- Autopay Discount: The SoFi 0.25% autopay interest rate reduction requires you to make monthly payments using SoFi’s automatic monthly deduction from a savings or checking account. The discount will discontinue and be lost when you do not have autopay enabled. You’re not required to set up autopay to obtain this loan.
- Member Rate Discount: To be eligible for an additional 0.25% interest rate reduction on a Personal Loan, you must, within 31 days of loan funding, either (1) meet SoFi Plus eligibility criteria, (2) receive an Eligible Direct Deposit into a SoFi Checking or Savings account, or (3) receive at least $5,000 in Qualifying Deposits into a SoFi Checking or Savings account. You must continue to meet at least one of the above eligibility criteria every 31 days to maintain the discount. See the SoFi Plus terms for details on SoFi Plus subscription. For more details on Eligible Direct Deposit or Qualifying Deposits, please see https://www.sofi.com/legal/banking-rate-sheet. Once you become eligible during the initial period, the discount will be removed or reinstated depending on whether the criteria have been met. Each time your loan is re-amortized, your monthly payment amount will change based upon the interest rate that was in place. SoFi reserves the right to modify or terminate this offer at any time for unenrolled participants. You are not required to meet these criteria to be approved for a loan.
Terms & Disclosures
- Terms and conditions apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. To qualify, a borrower must be a U.S. citizen or other eligible status, be residing in the U.S., and meet SoFi’s underwriting requirements. Not all borrowers receive the lowest rate. Lowest rates reserved for the most creditworthy borrowers. If approved, your actual rate will be within the range of rates at the time of application and will depend on a variety of factors, including term of loan, evaluation of your creditworthiness, income, and other factors. If SoFi is unable to offer you a loan but matches you for a loan with a participating bank, then your rate may be outside the range of rates listed above. Rates and Terms are subject to change at any time without notice. SoFi Personal Loans can be used for any lawful personal, family, or household purposes and may not be used for post-secondary education expenses. Minimum loan amount is $5,000. The average of SoFi Personal Loans funded in 2025 was around $32K. Based on loans funded from 1/1/2025-12/31/2025. Information current as of 10/02/26. SoFi Personal Loans originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org). See SoFi.com/legal for state-specific license details. See SoFi.com/eligibility for details and state restrictions.
- Fixed rates from 6.99% APR to 35.49% APR. APR reflect the 0.25% autopay interest rate discount and a 0.25% member rate discount. SoFi Platform personal loans are made either by SoFi Bank, N.A. or , Cross River Bank, a New Jersey State Chartered Commercial Bank, operating from its Delaware branch, Member FDIC, Equal Housing Lender. SoFi may receive compensation if you take out a loan originated by Cross River Bank. These rate ranges are current as of 10/02/26 and are subject to change without notice. Not all rates and amounts available in all states. See SoFi Personal Loan eligibility details at https://www.sofi.com/eligibilitycriteria/#eligibility-personal. Not all applicants qualify for the lowest rate. Lowest rates reserved for the most creditworthy borrowers. Your actual rate will be within the range of rates listed above and will depend on a variety of factors, including evaluation of your credit worthiness, income, and other factors. Loan amounts range from $5,000– $100,000. The APR is the cost of credit as a yearly rate and reflects both your interest rate and an origination fee of 9.99% of your loan amount for Cross River Bank originated loans which will be deducted from any loan proceeds you receive and for SoFi Bank originated loans have an origination fee of 0%-7%, will be deducted from any loan proceeds you receive.
- Autopay Discount: The SoFi 0.25% autopay interest rate reduction requires you to make monthly payments using SoFi’s automatic monthly deduction from a savings or checking account. The discount will discontinue and be lost when you do not have autopay enabled. You’re not required to set up autopay to obtain this loan.
- Member Rate Discount: To be eligible for an additional 0.25% interest rate reduction on a Personal Loan, you must, within 31 days of loan funding, either (1) meet SoFi Plus eligibility criteria, (2) receive an Eligible Direct Deposit into a SoFi Checking or Savings account, or (3) receive at least $5,000 in Qualifying Deposits into a SoFi Checking or Savings account. You must continue to meet at least one of the above eligibility criteria every 31 days to maintain the discount. See the SoFi Plus terms for details on SoFi Plus subscription. For more details on Eligible Direct Deposit or Qualifying Deposits, please see https://www.sofi.com/legal/banking-rate-sheet. Once you become eligible during the initial period, the discount will be removed or reinstated depending on whether the criteria have been met. Each time your loan is re-amortized, your monthly payment amount will change based upon the interest rate that was in place. SoFi reserves the right to modify or terminate this offer at any time for unenrolled participants. You are not required to meet these criteria to be approved for a loan.
Fixed APR
8.99% – 35.49%*
Funding
$5K – $100K
Term (Yrs.)
2 – 7
Terms & Disclosures
- Terms and conditions apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. To qualify, a borrower must be a U.S. citizen or other eligible status, be residing in the U.S., and meet SoFi’s underwriting requirements. Not all borrowers receive the lowest rate. Lowest rates reserved for the most creditworthy borrowers. If approved, your actual rate will be within the range of rates at the time of application and will depend on a variety of factors, including term of loan, evaluation of your creditworthiness, income, and other factors. If SoFi is unable to offer you a loan but matches you for a loan with a participating bank, then your rate may be outside the range of rates listed above. Rates and Terms are subject to change at any time without notice. SoFi Personal Loans can be used for any lawful personal, family, or household purposes and may not be used for post-secondary education expenses. Minimum loan amount is $5,000. The average of SoFi Personal Loans funded in 2025 was around $32K. Based on loans funded from 1/1/2025-12/31/2025. Information current as of 10/02/26. SoFi Personal Loans originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org). See SoFi.com/legal for state-specific license details. See SoFi.com/eligibility for details and state restrictions.
- Fixed rates from 6.99% APR to 35.49% APR. APR reflect the 0.25% autopay interest rate discount and a 0.25% member rate discount. SoFi Platform personal loans are made either by SoFi Bank, N.A. or , Cross River Bank, a New Jersey State Chartered Commercial Bank, operating from its Delaware branch, Member FDIC, Equal Housing Lender. SoFi may receive compensation if you take out a loan originated by Cross River Bank. These rate ranges are current as of 10/02/26 and are subject to change without notice. Not all rates and amounts available in all states. See SoFi Personal Loan eligibility details at https://www.sofi.com/eligibilitycriteria/#eligibility-personal. Not all applicants qualify for the lowest rate. Lowest rates reserved for the most creditworthy borrowers. Your actual rate will be within the range of rates listed above and will depend on a variety of factors, including evaluation of your credit worthiness, income, and other factors. Loan amounts range from $5,000– $100,000. The APR is the cost of credit as a yearly rate and reflects both your interest rate and an origination fee of 9.99% of your loan amount for Cross River Bank originated loans which will be deducted from any loan proceeds you receive and for SoFi Bank originated loans have an origination fee of 0%-7%, will be deducted from any loan proceeds you receive.
- Autopay Discount: The SoFi 0.25% autopay interest rate reduction requires you to make monthly payments using SoFi’s automatic monthly deduction from a savings or checking account. The discount will discontinue and be lost when you do not have autopay enabled. You’re not required to set up autopay to obtain this loan.
- Member Rate Discount: To be eligible for an additional 0.25% interest rate reduction on a Personal Loan, you must, within 31 days of loan funding, either (1) meet SoFi Plus eligibility criteria, (2) receive an Eligible Direct Deposit into a SoFi Checking or Savings account, or (3) receive at least $5,000 in Qualifying Deposits into a SoFi Checking or Savings account. You must continue to meet at least one of the above eligibility criteria every 31 days to maintain the discount. See the SoFi Plus terms for details on SoFi Plus subscription. For more details on Eligible Direct Deposit or Qualifying Deposits, please see https://www.sofi.com/legal/banking-rate-sheet. Once you become eligible during the initial period, the discount will be removed or reinstated depending on whether the criteria have been met. Each time your loan is re-amortized, your monthly payment amount will change based upon the interest rate that was in place. SoFi reserves the right to modify or terminate this offer at any time for unenrolled participants. You are not required to meet these criteria to be approved for a loan.
Best for Fair Credit
Fixed APR
7.99% – 35.99
Funding
$1K – $50K
Term (Yrs.)
2 – 7
Best Credit Union
Fixed APR
8.99% – 17.99%
Funding
$600 – $50K
Term (Yrs.)
3 – 5
Best for Thin Credit
Fixed APR
7.80% – 35.99%
Funding
$1K – $75K
Term (Yrs.)
3 – 5
Best Secured Loan
Fixed APR
6.99% – 35.99%
Funding
$1K – $50K
Term (Yrs.)
3 – 5
Best Peer-to-Peer Lender
Fixed APR
8.99% – 35.99%
Funding
$2K – $50K
Term (Yrs.)
2 – 5
Best for Joint Loans
Fixed APR
7.90% – 35.99%
Funding
$1K – $40K
Term (Yrs.)
2 – 4
Fig Credit Builder Loan Review at a glance
| Deposit amounts | Not specified |
| Term length | 12 months |
| Rate | As low as 4% APR |
| Credit bureaus reported to | TransUnion, Equifax, and Experian |
| Time to funding after approval | Decision in 1 day; Funds in 1-3 business days |
| Fees | Vary by state; Administrative and debit card processing fees |
| Unique features | Reverse loan: Instead of receiving money upfront, you make 12 manageable monthly payments into a savings account. If your payment is close to being 30 days late, Fig proactively closes the loan to protect your credit. |
Fig Loans’ credit builder loan is aimed at individuals looking to build or improve their credit scores. Fig’s credit builder reports to the three major credit bureaus: TransUnion, Equifax, and Experian.
However, these loans are available in only six states.
CA, MO, UT, TX, OH, FL
How does it work?
Borrowers make regular payments over a set term, with payments reported to major credit bureaus.
The loan acts as a savings account. You get the funds back at the end of the term, minus interest and fees.
Eligibility requirements
| Requirement | Details |
| State of residence | California, Florida, Missouri, Ohio, Texas, and Utah |
| Minimum age | Not disclosed |
| Minimum credit score | None |
| Minimum income | Monthly deposits of at least $1,400 |
| Other requirements | Internet connection Online application capability Phone number Social Security number Government-issued photo ID Online banking |
Costs and fees
The interest rate for Fig Loans’ credit builder loans varies based on loan amount and state, but it can be as low as 4%. This rate influences the total amount you repay over the term of the loan.
Other cost and fees include:
- Administrative fee: This varies based on the state and the amount borrowed. It’s an additional charge for account opening and loan processing.
- Other fees: Fig doesn’t disclose membership fees, but we recommend verifying whether additional fees apply during the application process.
Repayment
Borrowers make 12, fixed payments over the course of a year, and then get their payments back, minus APR/fees, at the end of the 12-month period.
Pros and cons
Pros
-
Credit building
-
No credit score requirement
-
End-of-term fund distribution
Cons
-
Online banking and deposit requirements
-
Limited availability
Alternatives
We recommend considering the best credit builder apps from CreditStrong, MoneyLion, Self, and more:
Build Credit w/ a Secured Card
Terms & Disclosures
Chime Disclosures:
- Chime is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC. The secured Chime Visa® Credit Card is issued by The Bancorp Bank, N.A. or Stride Bank, N.A. pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa credit cards are accepted. Please see the back of your Card for its issuing bank.
- To apply for a Chime Card, you must also open a Chime Checking Account.
- On-time payment history can have a positive impact on your credit score. Late payment may negatively impact your credit score. Chime will report your activities to Transunion®, Experian®, and Equifax®. Impact on your credit may vary, as Credit scores are independently determined by credit bureaus based on a number of factors including the financial decisions you make with other financial services organizations.
- Out-of-network ATM withdrawal and OTC advance fees may apply. View The Bancorp agreement or Stride agreement for details; see back of card for issuer. The Bancorp agreement links out to https://www.chime.com/polici es/bancorp/chime-card-agree ment/ Stride agreement links to https://www.chime.com/polici es/stride/chime-card-agreem ent/
- Money added to Chime Card™ will be held in a secured deposit account as collateral for your Chime Card, and you can spend up to this amount. You can use money deposited in your Secured Deposit Account to pay off your charges at the end of every month.
Terms & Disclosures
Chime Disclosures:
- Chime is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC. The secured Chime Visa® Credit Card is issued by The Bancorp Bank, N.A. or Stride Bank, N.A. pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa credit cards are accepted. Please see the back of your Card for its issuing bank.
- To apply for a Chime Card, you must also open a Chime Checking Account.
- On-time payment history can have a positive impact on your credit score. Late payment may negatively impact your credit score. Chime will report your activities to Transunion®, Experian®, and Equifax®. Impact on your credit may vary, as Credit scores are independently determined by credit bureaus based on a number of factors including the financial decisions you make with other financial services organizations.
- Out-of-network ATM withdrawal and OTC advance fees may apply. View The Bancorp agreement or Stride agreement for details; see back of card for issuer. The Bancorp agreement links out to https://www.chime.com/polici es/bancorp/chime-card-agree ment/ Stride agreement links to https://www.chime.com/polici es/stride/chime-card-agreem ent/
- Money added to Chime Card™ will be held in a secured deposit account as collateral for your Chime Card, and you can spend up to this amount. You can use money deposited in your Secured Deposit Account to pay off your charges at the end of every month.
Credit check
None
Reports to all 3 bureaus
Yes
Savings feature
No
Secured card
Yes
Terms & Disclosures
Chime Disclosures:
- Chime is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC. The secured Chime Visa® Credit Card is issued by The Bancorp Bank, N.A. or Stride Bank, N.A. pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa credit cards are accepted. Please see the back of your Card for its issuing bank.
- To apply for a Chime Card, you must also open a Chime Checking Account.
- On-time payment history can have a positive impact on your credit score. Late payment may negatively impact your credit score. Chime will report your activities to Transunion®, Experian®, and Equifax®. Impact on your credit may vary, as Credit scores are independently determined by credit bureaus based on a number of factors including the financial decisions you make with other financial services organizations.
- Out-of-network ATM withdrawal and OTC advance fees may apply. View The Bancorp agreement or Stride agreement for details; see back of card for issuer. The Bancorp agreement links out to https://www.chime.com/polici es/bancorp/chime-card-agree ment/ Stride agreement links to https://www.chime.com/polici es/stride/chime-card-agreem ent/
- Money added to Chime Card™ will be held in a secured deposit account as collateral for your Chime Card, and you can spend up to this amount. You can use money deposited in your Secured Deposit Account to pay off your charges at the end of every month.
Benefits Beyond Building Credit
Terms & Disclosures
- Sample loans: $25/mo, 24 mos, 15.92% APR; $35/mo, 24 mos, 15.69% APR; $48/mo, 24 mos, 15.51% APR; $150/mo, 24 mos, 15.82% APR. Variable admin fee of $1-$5 may apply. See self.inc/pricing.
- Self is not a bank. Credit Builder Accounts & Certificates of Deposit made/held by Lead Bank, Sunrise Banks, N.A., or First Century Bank, N.A., each Member FDIC, see more at FDIC coverage. Subject to approval.
- Secured Self Visa Credit Card issued/held by Lead Bank, Sunrise Banks, N.A., or First Century Bank, N.A., each Member FDIC. See self.inc/visa-secured-credit-card for details including important rate and fee information. Qualification for the secured Self Visa Credit Card is based on meeting eligibility, including income and expense requirements and establishment of minimum $100 security interest. Criteria subject to change.
- Results may vary. You may not receive an improved credit score based on your financial behavior, including missed payments with Self credit products and activity with other creditors. The ability to obtain a loan/mortgage may be dependent on a number of factors. Credit score is only one of those factors.
- The Credit Builder Account is not a savings account. This figure reflects the amount of money 678K Self customers got back (minus interest and fees) after making monthly payments to Credit Builder Accounts that reached full term between 8/6/18 to 7/16/23.
- Average outcome after 12 months for customers who opened a 24 month Credit Builder account, starting VantageScore under 600, who made on-time payments. Other factors, including activity with other Self products and other creditors, may impact results. See details.
- Other factors, including activity with other creditors, may impact results. Failure to make monthly minimum payments by due date may result in delinquent payment reporting to credit bureaus which may negatively impact your credit score. Self is not a Credit Repair Organization. Self does not remove negative credit history from credit reports. Self products are not intended to provide advice or assistance related to a consumer’s credit record or history.
Terms & Disclosures
- Sample loans: $25/mo, 24 mos, 15.92% APR; $35/mo, 24 mos, 15.69% APR; $48/mo, 24 mos, 15.51% APR; $150/mo, 24 mos, 15.82% APR. Variable admin fee of $1-$5 may apply. See self.inc/pricing.
- Self is not a bank. Credit Builder Accounts & Certificates of Deposit made/held by Lead Bank, Sunrise Banks, N.A., or First Century Bank, N.A., each Member FDIC, see more at FDIC coverage. Subject to approval.
- Secured Self Visa Credit Card issued/held by Lead Bank, Sunrise Banks, N.A., or First Century Bank, N.A., each Member FDIC. See self.inc/visa-secured-credit-card for details including important rate and fee information. Qualification for the secured Self Visa Credit Card is based on meeting eligibility, including income and expense requirements and establishment of minimum $100 security interest. Criteria subject to change.
- Results may vary. You may not receive an improved credit score based on your financial behavior, including missed payments with Self credit products and activity with other creditors. The ability to obtain a loan/mortgage may be dependent on a number of factors. Credit score is only one of those factors.
- The Credit Builder Account is not a savings account. This figure reflects the amount of money 678K Self customers got back (minus interest and fees) after making monthly payments to Credit Builder Accounts that reached full term between 8/6/18 to 7/16/23.
- Average outcome after 12 months for customers who opened a 24 month Credit Builder account, starting VantageScore under 600, who made on-time payments. Other factors, including activity with other Self products and other creditors, may impact results. See details.
- Other factors, including activity with other creditors, may impact results. Failure to make monthly minimum payments by due date may result in delinquent payment reporting to credit bureaus which may negatively impact your credit score. Self is not a Credit Repair Organization. Self does not remove negative credit history from credit reports. Self products are not intended to provide advice or assistance related to a consumer’s credit record or history.
Credit check
None
Reports to all 3 bureaus
Yes
Savings feature
Yes
Secured card
Yes
Terms & Disclosures
- Sample loans: $25/mo, 24 mos, 15.92% APR; $35/mo, 24 mos, 15.69% APR; $48/mo, 24 mos, 15.51% APR; $150/mo, 24 mos, 15.82% APR. Variable admin fee of $1-$5 may apply. See self.inc/pricing.
- Self is not a bank. Credit Builder Accounts & Certificates of Deposit made/held by Lead Bank, Sunrise Banks, N.A., or First Century Bank, N.A., each Member FDIC, see more at FDIC coverage. Subject to approval.
- Secured Self Visa Credit Card issued/held by Lead Bank, Sunrise Banks, N.A., or First Century Bank, N.A., each Member FDIC. See self.inc/visa-secured-credit-card for details including important rate and fee information. Qualification for the secured Self Visa Credit Card is based on meeting eligibility, including income and expense requirements and establishment of minimum $100 security interest. Criteria subject to change.
- Results may vary. You may not receive an improved credit score based on your financial behavior, including missed payments with Self credit products and activity with other creditors. The ability to obtain a loan/mortgage may be dependent on a number of factors. Credit score is only one of those factors.
- The Credit Builder Account is not a savings account. This figure reflects the amount of money 678K Self customers got back (minus interest and fees) after making monthly payments to Credit Builder Accounts that reached full term between 8/6/18 to 7/16/23.
- Average outcome after 12 months for customers who opened a 24 month Credit Builder account, starting VantageScore under 600, who made on-time payments. Other factors, including activity with other Self products and other creditors, may impact results. See details.
- Other factors, including activity with other creditors, may impact results. Failure to make monthly minimum payments by due date may result in delinquent payment reporting to credit bureaus which may negatively impact your credit score. Self is not a Credit Repair Organization. Self does not remove negative credit history from credit reports. Self products are not intended to provide advice or assistance related to a consumer’s credit record or history.
Build Credit w/ Small Monthly Payments
Credit check
None
Reports to all 3 bureaus
Yes
Savings feature
No
Secured card
No
Bundle Credit Buolding w/ Banking
Credit check
None
Reports to all 3 bureaus
Yes
Savings feature
Yes
Secured card
No
Build Credit Via Subscriptions
Credit check
None
Reports to all 3 bureaus
Yes
Savings feature
No
Secured card
No
Budget-Friendly Credit Building w/ All 3 Bureaus
Credit check
None
Reports to all 3 bureaus
Yes
Savings feature
No
Secured card
Yes
Boost Experian Score w/ Bills You Already Pay
Credit check
None
Reports to all 3 bureaus
No
Savings feature
No
Secured card
No
Build Credit w/ No Credit Check
Credit check
None
Reports to all 3 bureaus
No
Savings feature
No
Secured card
No
Fig36
Fig36 is Fig Loans’ nonprofit lending program. It equips community organizations with the tools to offer affordable, credit-building loans.
Through Fig36, partners gain access to Fig’s risk models, loan management software, credit reporting, and compliance infrastructure, delivering the sophistication of a major financial institution with a local, community-first approach.
The program is currently in limited beta in Texas, with plans to expand.
Is Fig Loans legit? What customer reviews say
| Source | Customer rating | Number of reviews |
| Trustpilot | 4.9/5 | 8,612 |
| Better Business Bureau | 1.0/5 | 3 |
| 4.7/5 | 2,326 |
Fig Loans has a good reputation across various review platforms. Customers praise Fig Loans for working with individuals with bad credit, fast delivery of funds, and its ability to boost credit scores. However, some reviews point out high rates and issues with the application system.
Fig Loans is not BBB-accredited. Complaints here focus on inaccurate reporting to credit agencies, identity theft concerns, and loan denials.
Positive feedback on Google highlights the ease of obtaining a loan and manageable payments. Nevertheless, some reviewers express dissatisfaction with application issues and loan denials.
Customer service
Fig Loans’s customer service team can assist customers with inquiries and issues related to their loans. The team is based at the company’s headquarters in Sugar Land, Texas.
Ways to contact Fig Loans:
- Phone number: Toll-free at 833-335-0855
- Mailing address: 2245 Texas Drive, Suite 300, Sugar Land, TX 77479
- Chat box: Available on the website for quick inquiries
- Business hours: Monday – Friday, 8 a.m. – 4 p.m. Central time
How to apply
Applying for a Fig Loans personal or credit builder loan doesn’t affect your credit score.
Unlike other lenders that offer prequalification to gauge eligibility without affecting credit scores, Fig Loans’ approach simplifies the process, but its terms are less flexible than traditional personal loan lenders.
Here are the steps to apply:
- Select your state: Begin by choosing your state of residence. Loan terms and availability vary by state.
- Choose the loan amount: Determine your desired loan amount.
- Register and submit required documents: Create an account with Fig Loans and provide necessary documentation, including:
- Bank login information: Username and password for a compatible checking or savings account with three months of transaction history and income deposits of $1,400 per month.
- Two bank verification partners: These partners securely access and verify banking information.
- A positive bank balance: Required at the time of application.
- Social Security number: Necessary for identity verification.
- Photo ID: State-issued ID or passport.
The application process is straightforward.
Bottom line
Fig Loans fills an important gap for borrowers with limited credit options, offering fast funding and no credit check. However, its triple-digit APRs, low loan amounts, and limited availability mean it should only be a short-term solution.
If you qualify for a lower-rate personal loan or a more flexible credit builder program, those alternatives may be more cost-effective paths to improving your finances.
About our contributors
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Written by Amanda HankelAmanda 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.
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Edited by Kristen Barrett, MATKristen Barrett is a managing editor at LendEDU. She lives in Cincinnati, Ohio, with her wife and their pack of senior rescue dogs. She has edited and written personal finance content since 2015.