Choice Financial is not a lender or creditor; all loan requests are funded by a third party. They offer unsecured personal loans from $2k to $100,000, so the question on everyone’s mind should be: “Is it legit?” Let’s find out!
This company is not a lender or creditor, but rather a middleman between you and the party who will actually fund your loan. This can be beneficial because it gives you more options when it comes to finding a loan that fits your needs. However, it also means that there is more opportunity for scamming. So, is it a scam? Let’s take a look at what others have to say about their experience with the company.
Reviews for this company are mixed. Some people complain about hidden fees and poor customer service, while others report that they were able to get a loan when needed with no trouble whatsoever, so there’s definitely something going on here!
Let’s take a deeper look at this company and what it has to offer.
Choice Financial Pros and Cons
The decision to choose a financial institution is not one that should be taken lightly. There are many factors to consider, and you don’t want your future investment portfolio based on bad experiences with previous clients who had worse luck.
The biggest complaint against them is its customer service. A lot of customers have reported feeling ignored and unimportant. It can be very difficult to get ahold of someone when you need help, and even harder to get the help you need.
Unfortunately, there are many negative reviews about this company online. People have reported bad experiences, and they’re not ashamed to share them with the world.
The bottom line is that if you’re looking for a reliable and trustworthy financial institution, there are plenty of other options out there. You might want to consider those instead.
What is Choice Financial?
Choice Financial is not a lender or creditor; all loan requests are funded by a third party. Customers say that this company works by promising potential customers a great deal on a loan but then changing them to a more expensive loan with worse terms. This can leave customers feeling frustrated and misled, especially if they were counting on the original loan to help them out financially.
Terms and conditions can be tricky to understand. It’s important that you read through the contract before signing, as there might have been changes from what was originally agreed upon, which could affect your wallet!
How does Choice Financial work?
Choice Financial is a network of lenders, customers say that they promise low rates but then switch them to higher ones once you sign up. Also, they switch your service from Debt consolidation or credit counseling, which can end up costing more money in the long run.
How to qualify for a Choice Financial personal loan?
If you’re looking for a personal loan, there are a few things you’ll need to take into account before applying. Here are some tips on how to qualify for a personal loan:
- Your credit score is the most important factor that lenders look at when considering your loan application. With a good rating, you’re more likely to be approved and receive favorable terms on any new consumer finance agreement, or even just get easy approval for something as simple as getting gas.
- If you’re struggling to find a steady income, it might be hard for lenders and brokers alike. They want the peace of mind that their money will go towards good use with someone who can repay them in full each month.
- The amount of debt you currently have will also be taken into consideration. If you have a lot of debt, it may be difficult to get approved for a loan.
- Finally, the lender will also look at your employment history. They want to see that you have a stable job and that you’ve been employed for a significant amount of time.
If you meet all of these criteria, you should have no problem qualifying for a personal loan.
What is the APR on a Choice Financial personal loan?
Choice Financial offers competitive interest rates, with an APR between 4.99% -35%. The company will disclose this before you sign your loan agreement so that there are no surprises once it’s time to pay back our loans.
With so many different lenders out there, it is important that you take time to compare their offers. You can use a loan calculator and estimate your monthly payments before deciding on which lender will be best for you.
Take your time in understanding the terms of your personal loan, so that you can make the best financial decision for your needs.
What kind of loans does Choice Financial offer?
It offers loans for all sorts of needs, including personal and home equity ones! They also provide services like advice on how best to use your money or plan ahead so they can help make informed choices easier than ever before.
How much does Choice Financial charge?
There are a lot of fees that can add up quickly, but you might not know about all the hidden ones. Some users have reported being charged for things like extra private loans or late payment charges on their accounts even if they don’t use these services.
How long does it take for Choice Financial to find me a lender?
It really depends on the individual case. In some instances, it could take a few days while other times it may take a couple of weeks. There are a few factors that play into how long it may take to connect you with a lender. This includes the type of loan you’re seeking, your credit score, and more.
What is the minimum credit score for a Choice Financial personal loan?
The minimum credit score that Choice Financial requires for personal loans is 640. With so many factors considered when deciding whether or not to approve your loan request, a low score can make it difficult – if not impossible- to get the financing you need.
Other important factors that Choice Financial looks at when considering a personal loan request include credit history, employment history, and monthly income.
Applicants with strong credit scores and solid employment histories are more likely to be approved for a personal loan from Choice Financial Group. But income is also an important factor, as it helps determine whether or not the applicant can afford monthly payments on their new borrowing flexibility.
To ensure you get the best personal loan for your needs, it’s important that before applying and getting approved by Choice Financial be sure to check both of these things. Make certain all requirements are met in order not only to save time but also to avoid any future headaches down the road.
How does Choice Financial affect your credit?
If you’re considering using Choice Financial, it’s important to understand how the company may affect your credit. One potential issue to be aware of is that Choice Financial does a hard pull on your credit report when you open an account. This hard pull can temporarily lower your credit score.
If you make any late payments on your account, Choice Financial may report this information to the credit bureaus. This can negatively affect not only future loans but also other aspects of personal finance.
Overall, Choice Financial can have both positive and negative effects on your credit depending on your individual circumstances.
How to cancel Choice Financial?
To cancel your loan, contact Choice Financial Group. Have the account number handy when calling or emailing them so they can easily remove it from their system once you’ve done so! Once canceled follow up by destroying any physical copies of checks that were provided to use in order to prevent fraud issues with this type of transaction.
It is important to take care of your loan balance as soon as possible because if you don’t, there could be fees or other penalties. Be sure and cancel any automatic payments so that no matter what happens with this situation you’re not hit in the wallet.
What kind of lenders does Choice Financial work with?
Choice Financial works with lenders that profit from using bait and switch schemes. These lenders typically have high-interest rates, hidden fees, and other terms that make it difficult for borrowers to understand the true cost of their loan.
This is a scheme where lenders offer low-interest rates to lure in customers, but then switch terms once they have signed contracts. This can result in stuck loans and often default or foreclosure for those who get caught by it.
Who is Choice Financial affiliated with?
We’re often asked if Choice Financial is affiliated with any third-party lenders. The answer is yes and here is why.
Third-party lenders have been known to charge higher interest rates and fees, which can make it very difficult for borrowers.
For many people, a third-party lender is their only option for obtaining credit. But there are lots of reputable companies that offer competitive rates and excellent service – so if you need loans from them instead then we urge reconsideration!
Choice Financial BBB Reviews
Choice Financial has an B rating and is not accredited.
Choice Financial has a lot of complaints with the Better Business Bureau. In fact, they have had 8 complaints closed in the last three years. 1 complaint was closed in the last twelve months. Most of these complaints seem to revolve around customer service issues.
Here are some Choice Financial BBB Reviews:
Complaint Type: Billing/Collection Issues 01/08/2022
I had an account with choice financial and they closed my account with money in it and yet my money keeps being deposited in a closed account and I’m told I will get a check but can’t speak to anyone so what can I do
Complaint Type: Problems with Product/Service 04/18/2021
Ok, my account with ******* **** which is through choice financial bank suddenly closed my account with funds in it they sent me an email and told me my account was closed and didn’t give a reason but within 24 days I would receive my funds from them via check.
It’s been almost a month, and I have not received the funds. I have sent SEVERAL EMAILS …. no response from customer care. I also have tried calling the customer service line. It says my account is blocked and hangs up on me. Then the only other option is to chat live, but you can’t do that unless you have an active account. I don’t know what to do or how to get my money back. Can someone please help me?
Complaint Type: Problems with Product/Service 10/01/20209
charges to ******** that the vendor denied but bank still paid also ******* ***/**** ******* charges that haven’t been refunded
Complaint Type: Billing/Collection Issues 06/18/2020
Choice financial has had my money pending now since June 11th and is not releasing my money until the end of this month there is no way to get a hold of them via phone and their support line via chat or email is not responsive at all please help I have all documents where my money should be in my account
Is Choice Financial Legit or a Scam?
If you’re considering using Choice Financial, the company has a lot of complaints against it and many people have accused them of being a bait-and-switch scheme.
Choice Financial offers a variety of financial services, but some customers say that the company has come under fire for its aggressive sales tactics and hidden fees.
If you’re considering using Choice Financial, do your research and be sure to read the fine print before signing any agreements. You may be better off going with a different provider.
Have you had a bad experience with Choice Financial? Share your story in the comments below.