FreedomPlus Personal Loans 2022: Review, Rates

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FreedomPlus Personal Loans

FreedomPlus Personal Loan

Costs

Set-up fee of 0.00% to 4.99%, late fee of $15 or 5%, whichever is greater

FreedomPlus Personal Loan FreedomPlus

FreedomPlus Personal Loan

Costs

Set-up fee of 0.00% to 4.99%, late fee of $15 or 5%, whichever is greater

Costs

Set-up fee of 0.00% to 4.99%, late fee of $15 or 5%, whichever is greater

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Advantages and Disadvantages of FreedomPlus Personal Loans

Who is FreedomPlus best for?

FreedomPlus is ideal for borrowers who want to withdraw a moderate to large amount of money, as the lender has high minimum loan amounts, but also a high maximum. The lender is also particularly attractive to those who want to apply with a co-borrower to get a better rate, as some companies don’t allow co-borrowers.

However, borrowers who want a lower loan amount will have to look elsewhere, as you must borrow a minimum of $5,000 with FreedomPlus. Plus, you may be able to avoid origination fees, which add to the overall cost of your loan, with another lender.

FreedomPlus Personal Loan Comparison

How FreedomPlus Compares

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Editor’s Note

3.5/5
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Regular APR

7.99% to 29.99% APR

Editor’s Note

3.25/5
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Regular APR

5.60% to 35.99%

Editor’s Note

2.75/5
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Regular APR

8.30% to 36.00%

FreedomPlus and Upstart allow borrowers with poor credit to be approved. For borrowers who meet their minimum credit score requirements of 600, this lender might have an advantage with a wider range of interest rates and higher loan amounts. While both of these lenders have a clearly defined minimum credit score of 600 to apply for a loan, LendingClub is a bit looser on the requirements.

All three companies charge an assembly fee. Personal loans from Upstart can have origination fees of up to 8%, while LendingClub charges fees between 1% and 6% of your total loan amount. Origination fees on FreedomPlus loans range from 0% to 4.99%.

Frequently Asked Questions

FreedomPlus, a Better Business Bureau accredited company, has earned an A+ rating from BBB, a non-profit organization focused on consumer protection and trust. The BBB rates companies on their response to customer complaints, honesty in advertising, and transparency in business practices.

FreedomPlus has not been involved in any recent scandals. Between its clean track record and excellent BBB rating, you may consider borrowing from the lender. However, you may want to reach out to people who have used the company before to get a first-hand knowledge of how it treats customers.

FreedomPlus takes about two to three hours to make an approval decision, according to the company’s website.

When you apply for a loan from FreedomPlus, the company will perform an indirect credit check. This allows him to get a complete view of your credit history without impacting your credit score. Once you agree to the terms of your loan, the company will apply for firm credit, which can negatively impact your score.

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