Frequently Asked Questions

Applying for the personal loan you need is simple through Credit Direct. Get answers to your questions about personal loans, our lending process, and what you will need to apply.


It depends. We’ve helped people with a wide range of credit scores get a personal loan. We look at other factors of your financial profile including ability to pay back the loan which improves your chance of approval. Take 5 minutes, fill out our online application and see what Credit Direct can do for you! Checking your eligibility will not impact your credit score.

We offer personal loans up to $40,000.

With Credit Direct, you have one monthly payment with a fixed interest rate on a set day every month for a specific length of time. There’s no confusion about when it’s due, how much your monthly payment is or how long the loan is for.

It depends. The terms of the loan have a lot of factors, including your credit score and financial situation, the amount of the loan, interest and how much you can reasonably afford each month to pay down. However, whether it’s $5,000 or the full $40,000, we work hard to get you the best loan terms possible.

It depends. Your approved loan amount depends on several factors, including your credit score and current financial situation. However, we work hard to get you the best loan possible.

No. Whether you take out a joint loan or only one of you takes out the loan is your choice. However, if you do choose a joint loan, you will both need to sign.

Other than the interest paid on the loan, we don’t charge any hidden fees. You just have one monthly payment for the length of your loan.

Although a personal loan may cause a slight hit to your credit initially, it generally causes a positive increase to your score over time. As long as you keep your monthly payments, your credit score will actually improve.

No, as we offer unsecured personal loans. One of the great things about getting a personal loan from Credit Direct is that you don’t have to put your house or car on the line.

For the most part, interest rates on personal loans depend on your credit score, the amount, and the perceived risk to the lender. The higher the credit score, the lower the interest rate.

No, there are no fees or charges for paying your loan off early. You can also choose to make a larger monthly payment than owed without penalty.

To see a complete list of states we are able to provide loans to, please click here to visit our Company page.

Our business hours are 9:00am to 6:00pm ET Monday through Thursday, and 9:00am to 5:00pm ET Friday. Our call center is 24/7.

Rates start as low as 4.99% APR and can vary based on your credit profile.

We lend both directly and through our trusted partner network to ensure that you get the best offer available.

We take your online security and privacy seriously. No, we do not sell any personal information to 3rd parties. You can learn more by reading our Privacy Policy.

No, we offer unsecured personal loans with fixed interest rates and clear terms.

Application Process

Applying with us is easy and secure! Visit our application page to fill out our short online form with no effect to credit score. In minutes, we'll send you personalized offers to compare.

By submitting an application to see what offers you qualify for, your credit score is not affected. To pre-qualify you, we perform a soft inquiry on your credit report, which won't impact your score. Once you accept your offer and proceed to funded, we perform a hard inquiry on your credit report, which may affect your credit score. If you do see a slight drop in credit score, you should see it increase over time with each monthly on-time payment.

In most cases, you'll receive your funds in just 48 to 72 hours via direct deposit to your bank account after your application is approved and completed. Depending on response time and how fast your financial institution is to accept the funds, we have had some clients receive their loan in just 24 hours.

There is no minimum credit score requirement to apply. In fact, we look at more than just credit scores when qualifying individuals for a loan to include other factors that indicate your ability to pay back the loan giving you a better chance at approval.

Currently, you will need to have a social security number to apply. We are not able to accept a tax ID at this time.

We will provide some alternative lenders to contact in our last email reply.  Please check your spam folder if you didn't receive it. While we were not able to help with your situation, those other lenders may be able to assist you.

Once you have accepted a pre-qualified loan offer, you will at a minimum need the following documentation to complete your application and accept the loan:

  • 2 months of any/all bank statements
  • 1 months worth of ALL pay stubs
  • Most recent W2
  • Copy of Government Issued ID (typically driver's license or passport)

We take your online security and privacy seriously. Our website security certificates are all actively maintained and up-to-date to ensure your information is encrypted. You can learn more by reviewing our Privacy Policy.

Debt Consolidation & Refinancing

Any unsecured debt can be consolidated, including medical bills, payday loans, student loans, and credit cards.

For most people, debt consolidation may cause an initial hit to your credit score. However, as long as you make consistent, on-time payment, it generally has a positive impact on your credit.

Maybe. It depends on your financial situation and the debt you’re consolidating. For instance, if you don’t owe very much on your bills, debt consolidation may just end up costing you more in the long run. Before getting a personal loan to consolidate your debt, add up your existing debt (don’t forget to include interest!) and divide by the number of payments it would take to pay it off. If it’s less than the cost of the loan (again, including interest), you may be better off using your personal loan to take yourself on vacation to Tahiti.

Considering that most credit cards can run as high as 29.99% to 18%, or more, the answer is most likely a resounding yes! Interest rates depend on your current financial situation and the risk to the lender, but we’ll get you the best interest rate available.

That’s up to you. Depending on your financial situation, you can get a personal loan up to $40,000 to take care of your credit cards. Whether you pay off one or more with your loan is up to you.

When we say fast and simple, we mean it. Depending on response times and the speed of your banking institution, you could have financial freedom within 24 hours of filling out our simple, secure web form. It doesn’t get much faster than that!

If you are using a personal loan to pay off your current credit card balances, you can choose to leave your accounts open. There is no requirement to close your credit cards once the balance is paid off.

Other Uses

Flexibility. What if your bathroom remodel only takes half the money? With a personal loan, you can use the extra to celebrate the finished project with an expensive bottle of Chardonnay or a night out on the town. It doesn’t have to go to just home remodeling projects.

Yes! But only because if you buy a bathtub and decide to remodel the kitchen, you’ll have a hard time figuring out what to do with the tub. What you do with your loan is your business. Our business is to simplify it for you.

You need a lot of equity in your home for a home equity loan. If your home has a lot of repairs that lower the value, you may not qualify for enough money to get them taken care of. A personal loan is an unsecured loan, there’s no home appraisal to worry about.

Yes! That trip to the emergency room because you broke your arm is good to go. Personal loans are there to help in whatever emergency (or non-emergency) situation you have going on in your life.

No. Wedding loans or marriage loans don’t actually exist. It’s just a term for personal loans that went to finance a wedding.

Well, you can, but unless you have a card with a very low interest rate, putting a vacation on a credit card can turn into a pretty expensive loan. While you might use the cards to actually pay for the vacation if you have rewards on them, you can use the personal loan to pay the balance before the next billing cycle (and high interest) hits.

Not for us. Basically, you’re the investor in your business. If you want to tell yourself how you’re going to get things done, good on you. We’re just here to help you get started.

Yes. Unlike an auto loan, a personal loan pays off the seller. Your payments go entirely to the personal loan while you drive around in a car that’s all yours.

It depends on your credit, who you’re buying the car from, the type of car you want to get and the age of the car, among other factors. Contact us to discuss your options.

Yes! Personal loans are flexible, in that you can do whatever you want with them. You can borrow however much you need, up to $40,000, for whatever you want.

Absolutely. Payday loans are for very short periods of a few days or weeks, and the cost is extremely high because the lenders have a high risk of non-payment. Personal loans are extended time plans, have no fee for early payoffs, and have fixed interest rates.

That depends on your location and where you’re moving to, but make sure you do the math. Before getting a personal relocation loan, take the time to find out what your moving costs will be. They could include: hiring movers, truck rental, moving supplies, storage and lodging, among others.

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