Integra Credit Online Loans Review: 2019

3.4
3.5/5

Integra Credit is an online direct lender headquartered in Chicago, IL that specializes in servicing borrowers with poor credit scores, offering modest loans as soon as one business day after loan application and approval. Operating in only eleven states as of this writing, Integra Credit prides itself on offering straightforward and transparent loan products with stellar customer support throughout the duration of the loan process.

Integra Credit Facts

  • APR: 149% to 399%
  • Loan Amount: $500 to $3,000
  • Loan Term: 7 to 24 months
  • Minimum Credit Score: N/A
  • Co-Signer: No

  • Fees: No Origination Fee & 5% late fee
  • Time to Funding: 1 business day
  • Hard Credit Check: No
  • BBB Rating: A+
  • Trustpilot Rating: 4.5 stars

Pros & Cons

Pros

  • No hard credit check
  • No origination fees
  • Available for bad credit
  • One Business Day Funding

Cons

  • Extremely high APR up to 399%
  • Not available in all states
  • Maximum loan amount of $3,000

Here you’ll learn:

What Types of Loans Does Integra Offer?

Integra Credit specializes in offering personal installment loans which require a fixed number of equal payments over a specified period of time. In some states, Integra Credit offers a personal line of credit, where funds can be withdrawn over a period of time instead of all at once.

Integra Credit promotes six different personal loan types, all of which are largely identical and have the same application procedure.

1. Installment Loans

As the primary loan type that Integra Credit services, installment loan payments and due dates are fixed without origination fees. Integra Credit installment loans are most often used to:

  • Cover unexpected expenses such as car repairs or hospital bills
  • Consolidate debt or pay off credit card debt
  • Cover one-time expenses such as car down payments or home improvement projects

2. Personal Loans

Integra Credit’s personal loans are identical to their installment loan products. Integra Credit states that they assess personal loan applications using more than just the applicant’s credit score, encouraging those with bad credit scores to apply.

Reasons that Integra Credit gives for why customers take out personal loans include:

  • Debt consolidation
  • Medical bills
  • Home improvement
  • Car repairs

3. Quick Loans

Integra Credit’s time to funding is relatively quick—often within a single business day. Loan decisions are generated online within seconds. To ensure that the loan is processed as quickly as possible, Integra Credit recommends having the following items ready before starting the application:

  • Current address
  • Email address
  • Driver’s license or state ID
  • Bank account number
  • Social Security number

4. Bad Credit Loans

Integra Credit loans are for borrowers with poor credit scores. They promote the idea that their loans are a useful avenue for raising borrowers’ credit scores, as those who are capable of handling the repayment terms and make loan payments on time will gradually improve their credit. Simply applying for a loan through Integra Credit will not impact your credit score, making it safe for those with poor credit to apply.

5. Lines of Credit

A personal line of credit through Integra Credit provides more flexibility than other borrowing options, allowing customers to borrow any amount up to their approved credit limit. Available credit increases as scheduled payments are made on time. Lines of credit have no penalties for paying off the full balance before the due date.

Integra Personal Loans: Rates and Terms

Terms

Term durations for Integra Credit loans depend upon which state the borrower resides in.

The loan duration window by each state is as follows:

  • Alabama: 12 to 18 months
  • California: 12 to 18 months
  • Delaware: 7 to 18 months
  • Idaho: 7 to 18 months
  • Kansas: 7 to 18 months
  • Missouri: 7 to 18 months
  • New Mexico: 12 to 18 months
  • South Carolina: 6 to 24 months
  • Tennessee: 6 to 24 months
  • Utah: 7 to 18 months
  • Wisconsin: 7 to 18 months

There is a natural trade-off between total interest payments and loan durations, with longer-term loans associated with higher interest paid. With that said, longer-term durations may be useful for customers looking to borrow near the maximum while simultaneously keeping monthly payments low.

Rates

As with loan term duration, Integra Credit’s minimum and maximum APR varies by state, ranging from a low of 149% to a high of 399%.

  • Alabama: 149% to 159%
  • California: 149%
  • Delaware: 149% to 399%
  • Idaho: 149% to 399%
  • Kansas: 149% to 399%
  • Missouri: 149% to 399%
  • New Mexico: 149% to 169%
  • South Carolina: 149% to 399%
  • Tennessee: 149% to 275%
  • Utah: 149% to 399%
  • Wisconsin: 149% to 399%

Fees

Integra Credit offers loans with few fees attached. There are no loan origination fees or prepayment fees if borrowers pay off loan balances earlier than required.

There are late fees, however, which vary depending upon the state in which the loan is processed:

  • Alabama: $18 or 5% of the missed payment, whichever is greater
  • California: $10
  • Delaware: 5% of the balance of any missed payment
  • Idaho: $15 or 5% of the missed payment, whichever is greater
  • Kansas: no late fees on available products
  • Missouri: $15 or 5% of the missed payment, whichever is greater, not to exceed $50
  • New Mexico: $10 or 5% of the missed payment, whichever is less
  • South Carolina: no late fees on available products
  • Tennessee: no late fees on available products
  • Utah: $30 or 5% of the missed payment, whichever is greater
  • Wisconsin: no listed late fee

See The Best Personal Loans with No Origination Fee

Loan Amounts

Integra Credit offers loans in the range between $500 and $3,000, depending on state law.

  • Alabama: $2,000 to $3,000
  • California: $2,600 to $3,000
  • Delaware: $500 to $3,000
  • Idaho: $500 to $3,000
  • Kansas: $700 to $3,000
  • Missouri: $500 to $3,000
  • New Mexico: $1,000 to $3,000
  • South Carolina: $700 to $3,000
  • Tennessee: $500 to $3,000
  • Utah: $500 to $3,000
  • Wisconsin: $500 to $3,000

Time to Funding

Generally, Integra Credit loans are funded relatively quickly. It is possible to receive funds in as soon as one day after applying. Additional time may be needed if there are any complications with paperwork.

Integra Loan Requirements

Qualifications

Few required minimum qualifications are needed to apply for a loan with Integra Credit. These include being 18 years old, having a valid bank account, providing a valid email address, and being a resident of the United States of America. However, Integra Credit only services customers in eleven states at the time of this writing, so only residents of these states can qualify.

Typical Credit Scores

Integra Credit’s target market includes customers with low credit scores, but they do not disclose their minimum score requirements.

Application Process

During the pre-application process, Integra Credit requests some basic personal information including Social Security numbers, addresses, and bank account information. They then perform a soft credit pull in order to determine eligibility, which does not negatively impact your credit score.

Completion of the final loan application requires Integra Credit to do a hard credit pull. Your credit score may experience a temporary lowering in points.

Repayment

Integra Credit generally recommends borrowers use electronic debit as their primary repayment option. Borrowers can set up automatic payments to be withdrawn directly from their bank accounts.

Payment Due Dates

Payment due dates are fixed and are scheduled on a monthly basis.

Early and Additional Payments

Integra Credit clearly states that there are no penalties for making additional payments or paying off loans early. This policy allows borrowers to build positive credit while simultaneously raising the upper limit on lines of credit.

The Integra Credit Customer Experience

Customer Support

Integra Credit’s customer support is available by phone or email six days a week. Reduces hours are available on Saturdays.

Hours of Operation

  • Monday – Friday: 7 am to 9 pm CT
  • Saturday: 9 am to 5:30 pm CT

Customer Support Line

855-345-5550

Fax

312-229-8877

Email

support@integracredit.com

Customer Feedback and Reports

Integra Credit received accreditation from the Better Business Bureau in December 2018 and has a BBB rating of A+.

Integra Credit has received strongly positive reviews on TrustPilot with a 4.5-star rating. 86% of feedback is marked as “Excellent” and an additional 9% is “Great.” 

Summary

We recommend that borrowers seek a loan with a lower APR before getting a loan with Integra Credit. While there is no hard credit check and funds can be delivered in one business day, Integra Credit’s APR is extremely high. We only recommend Integra Credit in extreme emergency situations.

About the Company

Headquartered in Chicago, IL, Integra Credit was founded in April 2014 by parent company Deinde Financial. Integra Credit’s intention is to bring disruption to the subprime lending market, offering flexible installments and open-ended credit products to customers in need of small-dollar loans.

Since Integra Credit is well aware of the fact that many of its customers are in dire need of funds due to emergency situations such as medical bills or auto repairs, the company specializes in fast and straightforward applications, instant approval decisions, and the delivery of cash as soon as the next business day—assuming the loan application is approved before 6 pm CT.

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