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Best Loans for Good Credit

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Looking to leverage your hard-earned good credit to get the best loan? Great news: there’s a wide variety of excellent loans for those with good credit.

When analyzing a lending platform, you’ll want to look at the most crucial factors. These include the lender’s minimum credit score to be eligible, loan terms and amounts, and of course, APR.

Loans can be used for a variety of important purchases, such as a new car, a home remodeling idea, to consolidate existing debt, or even more. Perhaps you want to take advantage of COVID-19’s silver lining, as some loans are seeing record low interest rates.

While it’s true that you should never take out a loan without heavy consideration beforehand, many loans intended for folks with good credit have lots to like and negligible drawbacks. Think of them as financial tools you can use to expand your buying power, enjoy life, or improve your credit even more.

Not sure where you stand on the FICO credit scale? Use the table below to see where you fit in.

What Exactly Does it Mean to Have “Good Credit”?

If you have “good credit”, you might be a little concerned. After all, there are two categories above “good credit” in the FICO credit scale.

When you have a good credit however, you can still find great loan opportunities. You’ll just have to find the right lending platform for you, which is why we’ve compiled the top lending platforms for those with good credit.

Top Lending Platforms for Good Credit


We’ve analyzed lending platforms based on fees, APR, loan terms, and more.

1. Lightstream
Best Overall
2. Marcus by Goldman Sachs
Best for Debt Consolidation
3. SoFi
Best for High-Income Borrowers
4. Payoff
Best for Paying Off Credit Card Debt
5. Discover
Best for Paying Off a Loan Early
6. Upgrade
Best for Small Loans
7. Best Egg
Best for Big Purchases

Best Loans for Good Credit

Not sure which loans to seek out? We’ve already found the best below; let’s dive in!

1. LightStream – Best Overall Good Credit Loan

Lightstream Logo Banner

Pros

  • No origination or late fees
  • There are cosigning options
  • Generally good rates and term ranges
  • Will beat most competitive APRs

Cons

  • No prequalification available
  • Most loans require several years of good credit history, not just good credit

LightStream has some of the best loans you can find if you already have good credit. As a division of SunTrust Bank, LightStream has lots of experience to call on, and it shows.

  • Minimum Credit Score: 660
  • APR: 3.49%-16.79%
  • Loan Range: $5000-$10,000
  • Term Range: 2-12 Years

For starters, they don’t have any fees on their loans, and they offer generous borrowing amounts between $5000 in $100,000. Even better, their term limits are pretty flexible, ranging between 2 years to 12 years depending on what works best for your unique needs.

Furthermore, LightStream provides something called the “Rate Beat” program. This is just an APR match program with an additional promise to beat that rate by up to 0.10% (within certain conditions, of course). Thus, you can use LightStream to get a fantastic APR if you find another lending service with a similar rate.

There are other reasons to consider them for your good credit loan. For instance, they provide cosigning options if you don’t have a lot of credit history or need to take out a loan for a student. They also don’t normally specify any income when you’re signing up for one of their loans.

However, they do typically require several years of credit history, in addition to good credit. They also don’t offer prequalification, so you’ll need to get somewhat into the loan sign-up process before you know the actual cost of your agreement.

Still, it’s a phenomenal service through and through. The lack of fees, great APR and term flexibility, and APR-match program all make LightStream one of the best choices on the market overall.

Marcus by Goldman Sachs Logo

Pros

  • Very flexible with payment options
  • Great for debt consolidation loans through direct payment to creditors
  • Provides some discounts with autopay
  • No additional fees

Cons

  • Funding might take a few days to arrive
  • No co signing option

Marcus personal loans from Goldman Sachs are great if you need a personal loan for debt consolidation, but their high amount limit makes them a good fit for just about any financial need. You’ll be able to take out a loan between $3500 and $40,000 if you have good credit.

  • Minimum Credit Score: 660
  • APR: 6.99%-28.99%
  • Loan Range: $3500-$40,000
  • Term Range: 3-6 years

They also provide flexible repayment terms between 3 to 6 years in most cases. There is a small downside in that it usually takes a few business days for you to receive your funding. So they’re not the best choice for emergency loans.

Still, there’s a lot to like here. They don’t have any origination or additional fees, nor do they levy prepayment penalties (so you aren’t charged more for paying down your debt aggressively).

Their customer service representatives are also pretty understanding if you need to change your payment options. Again, this makes them a great choice for debt consolidation or other loan needs if you have a tight but fluctuating budget.

However, if you can set up an automatic payment system with them to benefit from a slight rate discount that comes with most of their loan packages. This is fantastic if you want to pay down your loan as soon as possible. Marcus loans also usually come with an option to directly pay your creditors if you do decide to use this loan for debt consolidation.

There’s no co-signing option and you do need pretty good credit to qualify for the majority of their loan agreements. But if you already have a good score, the Marcus loan could be an excellent choice, particularly if you want to eliminate multiple debts at once.

3. SoFi – Best for High-Income Borrowers with Good Credit

Sofi Logo

Pros

  • Very good fixed and variable rates on average
  • Allow flexible payment options
  • Tons of member perks to benefit from
  • Can help you manage your financial accounts more skillfully

Cons

  • Can’t refinance your loans
  • Funding will take several business days to arrive

SoFi, an investment firm well-known for building one of the premier robo-advisors, showcases their value once again with their personal loan options. They provide loans for a wide variety of needs, offering amounts between $5000 and $100,000.

  • Minimum Credit Score: 680
  • APR: 5.99%-19.96%
  • Loan Range: $5000-$100,000
  • Term Range: 2-7 years

They also let you borrow with repayment terms between 2 and 7 years, plus APR rates potentially as low as 5.99%. Like with Marcus loans, there’s a small downside in that your funding will only arrive after a few business days.

However, SoFi provides a huge array of extra financial service offerings are benefits. For instance, professional development services, events for various members, networking and community opportunities, and even resume and interview help are available.

In this way, SoFi doesn’t just provide simple loan assistance. They can also help you become a better financial steward for your bank account or portfolio.

So they’re a great choice if you’re in a higher than average income bracket and will take advantage of these bonuses. You’ll be able to use this lending institution for just about any loan you can imagine, including mortgage loans, student loans, and more. 

They also offer their loans with fixed and variable rates and provide flexible payment options. However, you aren’t able to refinance your loan in case there’s a mishap or emergency.

Still, we’d recommend them if you’re comfortable with a relatively long-term debt arrangement and want to take advantage of everything they offer. If your average income is over $100,000 a year, they’ll likely be a great fit – especially since you can benefit from SoFi’s capable investment services.

4. Payoff – Best for Paying Off Credit Card Debt

payoff logo

Pros

  • Reasonably good loan amounts and repayment terms
  • Provides lots of financial security tools
  • Free score updates and check-ins with specialists
  • Also offers direct payment to creditors for debt consolidation

Cons

  • Not available in several states
  • Charges an origination fee

If you have credit card debt, a loan from Payoff might be the best choice you can make. That’s because they don’t only offer flexible loan arrangements, but they also provide a plethora of tools and support structures to help you make your payments on time and gradually increase your credit score by eliminating your debt.

  • Minimum Credit Score: 640
  • APR: 5.99%-24.99%
  • Loan Range: $5000-$35,000
  • Term Range: 2-5 years

For instance, Payoff will provide you with free FICO score updates every once in a while, plus a quarterly check-in with one of their dedicated “member experience” specialists. This gives you a little bit of accountability when it comes to using your loan correctly, and you can ask them for advice to better work down your debt in the most efficient way possible.

Even better, you’ll get a suite of cash flow assessment tools, plus job loss protection for your loan. Thus, it’s a great choice if you aren’t sure about your employment stability in the short term future.

They do have relatively strict requirements if you want one of their loans, like a credit score of 640 or higher and a decent debt to income ratio. They provide loans between $5000 and $35,000 and repayment terms between 2 and 5 years. The other big downside is that they aren’t available in several continental states, including Massachusetts, Mississippi, Nebraska, Nevada, Ohio, and West Virginia. 

But overall, they’re a great choice for paying down credit card debt, and not only because of what they offer in pure loan options. The tools they provide can be used to make sure that your debt repayment efforts result in lasting financial security. 

5. Discover – Best for Paying Off the Loan Early

Discover Logo

Pros

  • No prepayment or origination fees
  • Good loan payment terms
  • Comes with a free credit check tool
  • Will pay creditors directly for debt consolidation

Cons

  • Does charge a $39 late fee in most cases
  • No refinancing options

Discover makes it easy for you to repay your personal loans and makes it easy to get your funding on time. In fact, same-day funding is often included because they frequently make same-day decisions after a possible borrower applies.

  • Minimum Credit Score: 660
  • APR: 6.99%-24.99%
  • Loan Range: $2500-$35,000
  • Term Range: 3-7 years

Discover doesn’t charge any origination or prepayment fees, either, making it easy for you to aggressively pay down your debt and lower your overall loan. They do charge a late fee, though. You’ll be able to borrow between $2500 and $35,000 for between 3 and 7 years.

Discover also provides the option to pay your creditors directly if you want to improve your credit score as promptly as possible. Furthermore, all users will benefit from a Free Credit Scorecard tool, which includes up-to-date FICO scores and information about any changes or inquiries to your credit report. It’s a great tool to help you keep track of things as you improve your credit.

We like that they offer a plethora of flexible payment options to help folks that may need to change their payment amounts as time goes on. Since you can prepay without a fee, you can easily start with a lower payment amount every month and work up to a higher amount as your finances become more stable.

Still, you can’t refinance your loan entirely and you do need a relatively high credit score of 660. But overall, they’re a great choice if you are committed to improving your credit score and paying down your debt ASAP.

6. Upgrade – Best for Low-Amount Good Credit Loans

Upgrade Logo

Pros

  • Can typically get you your funding quickly
  • Loan amount goes as low as $1000
  • Has job loss protection
  • Offers cosigning options

Cons

  • Do have origination and late fees
  • No direct repayment to creditors for debt consolidation

Upgrade is a flexible credit lending institution, as they typically accept a wide range of incomes and credit scores. This being said, the lower end of their APR range is 7.99%: a little higher than what the other lending institutions we’ve looked at so far offer.

  • Minimum Credit Score: 640
  • APR: 7.99%-35.97%
  • Loan Range: $1000-$35,000
  • Term Range: 3-5 years

Still, they have a decent loan amount range between as low as $1000 up to $50,000. This can make them a great choice if you only need a small bundle of cash for a short timeframe. You can borrow for terms between 3 years and 5 years, and they’ll potentially help your loan with a low APR by using your cash flow as a worthiness metric instead of your credit score.

Upgrade does allow cosigners depending on credit score requirements between both parties, so students might be able to take advantage of their services. They do charge an origination fee and late fees, unfortunately.

But they additionally offer hardship plans to protect you in the event that you lose your job. This will qualify you for a temporary reduction in your monthly payment or a loan modification for the rest of the loan’s term.

Furthermore, Upgrade is valuable since they typically get you your funding within a day of your application being accepted. So they’re a good choice if you need fast cash with reasonable terms.

7. Best Egg – Best for Big Purchases

Best Egg Logo

Pros

  • Typically very quick loan availability
  • Can prequalify you with a soft credit check
  • You can change your payment date
  • No prepayment penalties

Cons

  • Do charge origination and late fees
  • Higher than average income qualifications

If you already have good credit, you might consider Best Egg, which offers APRs between 5.99% and 29.99%. They let you borrow between $2000 and $35,000 in most cases, although borrowers with really good credit can go up to $50,000. Repayment terms are typically between 3 and 5 years, and you should get your funding relatively quickly: in some cases, it’s less than a single business day.

  • Minimum Credit Score: 640
  • APR: 5.99%-29.99%
  • Loan Range: $2000-$35,000
  • Term Range: 3-5 years

However, you’ll need a minimum credit score of 640 and a high annual income of $100,000. If you do qualify, you’ll potentially benefit from prequalification and a soft credit check that doesn’t stand a risk of harming your credit score.

Their loans come with additional advantages, like the option to change your payment date depending on what works best for you. Even better, there aren’t any prepayment penalties if you want to pay off your loans early and aggressively.

This being said, they do have several fees, like an origination fee that ranges between 1% to 5.99%. They also charge late fees and return fees if payments aren’t processed because of some digital hiccup. 

All in all, though, they’re a great pick if you already have a high income and good credit history. We’d recommend them if you want a loan for a sizable purchase, like house remodeling or a new car, and feel confident in your ability to pay off the debt sooner than the term limit. 

A Buying Guide for Finding a Loan for Good Credit

What’s a “Good Credit” Loan, Specifically?

As the name suggests, a good credit loan is a type of personal loan usually only reserved for those with good credit. If you struggle to maintain good credit, you may want to leverage a credit repair company to help your credit score.

Personal loans are typically unsecured. Unsecured loans like these don’t have any additional collateral to back up the debt, like a house or a car. So lenders will use other factors to determine your interest rate and other aspects of a loan, like your credit history, income levels, and debt at the time of loan application. All this gives them an idea about your likelihood to repay a loan.

Good credit loans normally require credit scores at certain thresholds (usually around the 670 zone). This is quite different from bad credit loans which — despite guaranteed approval in some cases — either have very low or no credit limits.

If you already have good credit, it’s easier to get a favorable unsecured personal loan. This translates to lower interest rates, better terms, more options, and so on.

You can also usually get good credit personal loans from a wider variety of financial institutions like banks or credit unions. Those with lower credit have fewer options and loans with worse terms.

What Rates Can You Expect for Good Credit Loans?

In general, good credit loans have better rates, or annual percentage rates (APRs). In a nutshell, this means that you’ll pay less interest over the lifespan of the loan.

The APR for a given good credit loan will, of course, vary by institution. But in general, you can expect a good APR between 6% and 18% from most institutions.

What Kind of Loan Can You Get with a Credit Score of 700?

A “good” credit score is usually defined as between 670 and 740, so 700 is right in a comfortable spot. It’s not “excellent” but should still allow you to get favorable loans with low interest rates and manageable terms.

If you have good credit but you’re worried about maintaining your credit score, you may want to consider a credit monitoring service to help you out. Top-notch credit monitoring services will protect you from identity theft, cyber attacks, and can shield other family members as well.

How You Should Choose a Good Credit Personal Loan

When looking for an ideal good credit personal loan, consider the following factors to narrow down your choices, and to get an agreement that benefits your needs.

Compare Rates

Firstly, be sure to compare the APRs for every good credit personal loan you consider taking out. Although the general range mentioned before (6% to 18%) will hold for the majority of cases, some institutions might have better deals based on your credit history or other factors.

You’ll almost always want a lower APR, with the exception of loans that don’t work for your monthly payment limit. For instance, it might be worthwhile to go with a higher APR if it results in a more affordable monthly payment.

Is APR your most important factor? See our report of the top low interest personal loans.

Determine the Loan’s Purpose

Consider what the overall purpose of the loan, as this dictates the interest rate and other features that might come with the loan agreement. As an example, some loans are specifically designed to help people pay off high-interest credit cards. So they may come with additional factors, like allowing you to make higher-than-agreed monthly payments to make paying off your credit cards easier.

Others might be for more standard things, like buying a car. These might have favorable interest rates or be accessible to younger people with good credit but not a lot of credit history.

What Features Does the Loan Have?

Spend some time looking at any additional features a loan might have. For instance, some lenders provide loans that can be tracked using a proprietary mobile app. Others might have flexible payment schedules or let you defer payments if you run into unexpected financial hardship.

Can You Get Pre-Qualified?

It may be worthwhile to go with a lender that pre-qualifies you for one of their loans. Prequalifying means that a lender trusts that you’ll pay back a loan on time without doing a deep dive into your finances or credit history.

This is advantageous since you’ll know how much the loan will cost before you sign on the dotted line, allowing you to budget ahead of time. It’s also helpful since it usually doesn’t involve a “hard” credit check, which can affect your credit score.

Any Additional Benefits?

Lastly, consider any additional benefits a loan might come with, like financial education resources or free credit score monitoring.

How Much Do Good Credit Personal Loans Cost?

The overall “cost” for a personal loan involves both the APR (which determines how much interest you’ll pay over the loan’s lifespan) and the monthly payment you’ll have to adhere to. In addition, you’ll have to figure the total term length for the loan into your calculations.

So in short, combine:

  • The loan’s term limit, or how many payments you need to make to pay off the debt
  • The APR, which determines your interest (i.e. any extra money you’ll pay on top of the agreed loan amount)
  • The payment amount each month

Note that your overall cost can be lowered by aggressively paying off loans as soon as you are able. Paying more than the monthly amount eventually results in you paying less interest overall.

Also, longer terms usually accompany lower monthly payments but with more interest in exchange. The reverse is also true; short-term loans with low interest rates are usually accompanied by higher monthly payments.

For Instance, How Much Is a 100k Loan Per Month?

Let’s do a bit of example math to demonstrate these principles. 

Say that you have a $100,000 loan you plan to pay it off in ten years. The APR for this hypothetical good credit loan is a very reasonable 14%.

So you start off with $100,000 that you’ll need to pay back: this is the starting amount of the loan.

Then consider adding 14% for every year. Eventually, this adds up to a grand total of $186,319.72 by the time the loan is paid off in a decade.

This also translates to a monthly payment of $1552.66.

Is it a good deal? That’s up to you to decide. It depends on your budget, what you’re taking the $100,000 out for, and whether your loan agreement allows you to aggressively pay the debt down if you come into more money ahead of schedule.

Why Get a Personal Loan?

There are plenty of reasons why someone might seek out a personal loan, and especially along with good credit.

For instance, people with lots of debt often employ debt consolidation strategies. This allows them to combine all of their debts into a single personal loan and repay that loan over time.

The advantage of this strategy is that it’s easier to handle multiple lines of debt consolidated into one monthly payment than it is to juggle a dozen different bills. This method can legitimately save money through lower interest rates, but will require using one of the best debt consolidation lenders to be worth it.

Other people might be interested in good credit personal loans to handle unexpected but emergency expenses. For instance, hospital bills or the cost to repair your car after it was totaled in an accident might be more than your savings account can handle. Taking out a personal loan will allow you to stay afloat and handle the debt in a more manageable timeframe.

Or you might be interested in home renovations. Remaking or remodeling your home can cost quite a bundle, so a personal loan with good credit will let you continue saving while still enjoying your home’s new interior or porch without going bankrupt.

Is It Smart to Get a Loan to Pay Off Debt?

In general, people who use personal loans (like the aforementioned debt consolidation loans) to pay off debt have only a few options. In some cases, people who are in a lot of debt have bad debt repayment strategies or don’t handle money very well. This may result in them having to take out an unending chain of new loans to cover previous debts, spiraling further and further into financial insecurity.

However, taking out a personal loan can be smart to pay off your debt if you stick with the loan’s payment agreement. Obviously, this is easier for some loans than it is for others. But using personal loans to pay off debt can be helpful if they take the immediate pressure of debt repayment off your shoulders and allow you to set up a better payment schedule or timeframe.

Summary

In the end, the best loan for good credit will depend highly on your personal needs, repayment schedule, and monthly budget. There’s a plethora of loans for a variety of income levels and needs. Study each loan carefully and consider what we said above about how to choose an ideal loan for your financial situation.

Have you tried out any of these loans yourself? Let us know and let’s discuss.

All reviews, research, news and assessments of any kind on The Tokenist are compiled using a strict editorial review process by our editorial team. Neither our writers nor our editors receive direct compensation of any kind to publish information on TheTokenist.io. Our company, Tokenist Media LLC, is community supported and may receive a small commission when you purchase products or services through links on our website. Click here for a full list of our partners and an in-depth explanation on how we get paid.

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Credit Repair Companies

Credit Repair Review Methodology

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When it comes to managing your finances, thoroughly researching any company you work with is of the utmost importance. This couldn’t be truer than with credit repair companies.

According to the U.S. Federal Trade Commission (FTC), credit repair scams are incredibly common. There have been several recorded cases of criminals setting up false credit repair schemes designed to steal Social Security numbers, and some completely legitimate companies have been accused of violating consumer rights by charging illegal fees and making false promises to customers.  Even those with a clean record often face high volumes of consumer complaints for a variety of reasons, such as overpriced services and failure to deliver results.

The FTC makes it clear that no credit repair company is authorized to perform any action you can’t do on your own for free. Under the Fair Credit Reporting Act, you’re legally entitled to access your credit report for free once per year or if you’ve been the victim of identity theft. Additionally, the law dictates that you can dispute inaccuracies on your report and have negative information removed after a certain number of years. The FTC offers a clear, step-by-step guide on how to do this without paying a credit repair company.

At the end of the day, many people still choose to work with a credit repair company because they feel overwhelmed by the dispute process and are willing to pay for expert help. There are a number of ways in which credit repair companies can provide value, such as spotting errors on your report that you might otherwise miss. The FTC advises that reputable companies will also help you achieve long-term financial success that goes beyond your credit report by providing budgeting help and free educational materials.

So how do you tell a legitimate credit repair company from a scam? That’s the question we set out to answer in our series of credit repair reviews. We looked at some of the most popular companies and closely examined their services, pricing structures, and reputations to determine whether or not they offer value. In this guide, we’ll walk you through the methodology we used to evaluate each company and explain why each factor that we examined is important when dealing with credit repair.

Credit Repair Methodology

Credit repair is a complex service that involves many moving parts. What’s more, no two credit repair companies offer the exact same approach. To get a fair evaluation of each company we reviewed, we broke our scoring sheet down into five categories as listed below.

Within each category, we ranked each company on specific aspects of their service on a scale of 1 (lowest) to 5 (highest). We then took the weighted average of all scores according to the importance of each in deciding whether or not to work with a credit repair company. The percentages used to weigh each category are outlined in the following table.

Stability 2%
Reputation and Customer Satisfaction 11%
Customer Experience 7%
Services 30%
Costs and Fees 50%

In the end, each company received an overall rating from 1.0 to 5.0, with 5.0 being the best possible score and 1.0 being the worst.

The following sections will give a more detailed breakdown of the specific data points we used to evaluate credit repair companies in each category.

Evaluating Stability

Unlike other financial industries such as insurance, there is no authoritative body that rates the stability of credit repair companies. With this information unavailable, we used the next best measure of evaluating stability: number of years in business.

The number of years a credit repair organization has been in business is important because it demonstrates that the company has achieved long-term stability. Not only does this mean the company isn’t likely to go out of business before completing the services you paid for, it also means they’ve gained years (or even decades) of experience helping others in your situation. A credit repair company that has been around for a long time is likely to have earned enough respect from customers to continue attracting business.

Based on industry averages, we scored each company’s number of years in business using the following scale:

Excellent (5) More than 25 years in business
Great (4) Sixteen to 25 years in business
Good (3) Eleven to 15 years in business
Fair (2) Six to 10 years in business
Poor (1) Five or fewer years in business

Company Reputation and Customer Satisfaction

In credit repair, a company’s reputation says a lot about the type of experience it provides to customers. There are many channels for regulating authorities and consumers to file complaints about a credit repair company, both official and unofficial. We looked at complaint data from three of the most recognized third-party sources:

  • Consumer Financial Protection Bureau complaints and actions
  • Better Business Bureau reviews
  • Google reviews

Consumer Financial Protection Bureau Complaints and Actions

The Consumer Financial Protection Bureau (CFPB) is a government agency that acts as a consumer advocate in financial markets related to banks, loans, and credit. One of the CFPB’s core functions is to field complaints that result from unfair practices. Complaints are published in a database on the CFPB website that anyone can access.

While the CFPB doesn’t verify the specific facts in complaints, the bureau does refrain from publishing those that don’t meet strict criteria. If a credit repair company has accumulated many complaints, it’s usually a good sign that something in the business’s practices doesn’t sit well with consumers. The CFPB has the power to take enforcement action against the company if it investigates a complaint and finds that the law has been violated.

In reviewing each credit repair company, we looked up the number of complaints they had received in the CFPB database and assigned a score based on the following ranges:

Excellent (5) No complaints within the past three years
Great (4) No complaints within the past year
Good (3) One to five complaints within the past year
Fair (2) Five to 10 complaints within the past year
Poor (1) Ten or more complaints within the past year or enforcement action

Better Business Bureau Reviews

Contrary to what many consumers believe, the Better Business Bureau (BBB) is not an official government agency, but a private nonprofit that independently evaluates companies and fields customer complaints. The BBB allows companies to pay a fee for official accreditation and assigns ratings to all businesses, regardless of accreditation status.

In recent years, the validity of BBB ratings has been called into question by journalistic investigations that found discrepancies based on whether the business had paid for accreditation. Knowing this information, it’s important to take BBB ratings with a grain of salt.

Ultimately, we chose not to include BBB accreditation status or agency ratings into consideration when calculating companies’ overall score. However, we did include each company’s average customer review score. Customers can leave a review for businesses on the BBB website without filing a complaint, giving a score of 1 to 5 based on their experience with the company. We factored in these reviews based on the following point system:

Excellent (5) 5 stars
Great (4) 4 stars to less than 5 full stars
Good (3) 3 stars to less than 4 full stars
Fair (2) 2 stars to less than 3 full stars
Poor (1) Less than 2 full stars or no reviews

Google Reviews

A company’s Google profile is a common place for customers to go when they want to leave a review for a business they’ve interacted with. These reviews often appear when you search a company’s name using the Google search engine. Reviews consist of a star rating on a scale of 1 to 5 and an optional section for the customer to write a more detailed explanation of the score they gave.

In our methodology, Google reviews were assigned scores based on average star rating as follows:

Excellent (5) 5 stars
Great (4) 4 stars to less than 5 full stars
Good (3) 3 stars to less than 4 full stars
Fair (2) 2 stars to less than 3 full stars
Poor (1) Less than 2 full stars or no reviews

Customer Experience

A credit repair company’s dedication to customer experience is often a strong indicator of the quality of services they provide. When credit repair organizations don’t put enough effort into providing a good experience, customers tend to have difficulty contacting the company and getting updates on their case status. Since most credit repair services are now offered digitally, this generally means providing a helpful, easy-to-use website and virtual tools like an app or customer portal.

Taking all of this into account, we evaluated customer experience by looking into these three areas:

  • Website content
  • Website usability
  • Digital accessibility

Website Content

In the digital age, your first interaction with any company is often through its website. Credit repair companies use their websites to attract customers by providing information about their services and the benefits of credit repair. Unfortunately, not all companies are honest, and some publish inaccurate information that may mislead customers into thinking the company can do more than it really can.

While reviewing credit repair companies, we looked for three key items that illustrate the quality of information being presented:

  • Price disclosure
  • Online resources
  • FAQ page

Price Disclosure

One of the most common complaints about credit repair companies is that they aren’t upfront about their pricing, leading some customers to inadvertently accrue charges they weren’t aware of. Companies that value transparency should publish their pricing clearly online so that customers know exactly what they can expect to pay for services before they call.

For each credit repair company, we looked for pricing information on their website and assigned the following points:

Excellent (5) Price disclosed online
Poor (1) Price not disclosed online

Online Resources

A truly reputable credit repair company should approach fixing your credit as a multi-stage solution. In addition to disputing credit errors, the best companies will also provide resources that cover big-picture financial planning and debt management. Most companies that offer resources do so for free, demonstrating value to potential customers who are thinking about signing up for services.

We evaluated credit repair companies’ online resources based on this scale:

Excellent (5) Free app or interactive tool
Great (4) Free e-books and/or videos
Good (3) Blog
Fair (2) Basic information
Poor (1) None

FAQ Page

Credit repair can seem daunting for those who have never disputed an error on their report before. It’s completely normal to have questions about how the process works and what to expect along the way. To answer these questions transparently, credit repair companies should have an FAQ page that provides in-depth answers to questions not only about the credit repair process, but also the company’s specific practices such as pricing and policies.

Companies were given the following points depending on whether or not they had an FAQ page:

Excellent (5) Has an FAQ page
Poor (1) Does not have an FAQ page

Website Usability

The information included in a credit repair company’s website is important, but it won’t do you any good if you can’t locate it. We gave companies more points if they had dedicated resources to designing a responsive website that made it easy to find what you’re looking for.

We made our website usability analysis as objective as possible using these criteria:

Excellent (5) Intuitive design, interactive tools, easy to locate information
Great (4) Well-designed, highly informative but few tools
Good (3) Average design, includes useful information
Fair (2) Design lacking, information is difficult to find
Poor (1) Outdated design, poor experience, missing key information

Digital Accessibility

The technology available today enables companies to offer much more than just a website. We rewarded credit repair businesses for making additional technologies available that help customers more easily navigate the credit repair process. These technologies are:

  • Online customer portal
  • Mobile app
  • Web chat

Online Customer Portal

An online customer portal is a tool that customers can access using a username and password. Upon logging in, customers might find information such as important documents, dispute status, and updates from the credit repair specialist handling their case.

The credit repair companies we reviewed earned the following points for the presence or absence of a customer portal:

Excellent (5) Has an online customer portal
Poor (1) Does not have an online customer portal

Mobile App

Mobile apps are another trend in technology that make a big difference in the credit repair experience. Since most consumers spend more time on their phones than their computers throughout the day, a mobile app can make it easier to receive information and access resources.

Our rubric assigned points to companies with mobile apps using this scale:

Excellent (5) Has a mobile app
Poor (1) Does not have a mobile app

Web Chat

Not everyone wants to pick up the phone or wait for an email every time they have a question. Web chat is a convenient customer service channel that tends to be much faster and more efficient than traditional contact methods.

The companies we reviewed were rewarded for having a web chat as follows:

Excellent (5) Has a web chat
Poor (1) Does not have a web chat

Credit Repair Services

Credit repair isn’t a one-size-fits-all service. Most companies offer several different options which might include different credit repair options, tiered service levels, and additional non-credit repair offerings. To further explore the scope of services available, we broke them down into two main categories:

  • Credit repair service packages
  • Additional services offered

Credit Repair Service Packages

No two credit repair services are the same. Credit repair organizations often split their services into tiered packages that vary by the number or type of services included. For example, some companies may ask you to pay more for unlimited disputes per month, while others exclude services like credit monitoring from base packages but offer them in premium plans.

Some companies offer just one service package while others let customers choose from several different options. No matter how many choices a company makes available, not all of them include the same scope of services in their monthly fee.

To create a standardized method of evaluating credit repair service packages, we looked at data in three main areas:

  • Variety of service packages offered
  • Whether credit monitoring is offered
  • How many monthly disputes are included

Service Packages Offered

Every credit repair customer has a different set of needs. While some only have one or two minor errors to remove from their report, others require significant help with a major discrepancy. Ideally, a credit repair company will offer packages at various price points so that customers don’t overpay for a full-service option they don’t need.

The credit repair companies we reviewed were given points for the number of service packages they offered according to this scale:

Excellent (5) More than three service packages
Great (4) Two or three service packages
Good (3) Single service package

Credit Monitoring

Credit monitoring is a type of service that tracks your credit report and notifies you if there are any significant changes you should know about. If you need credit repair services, chances are you should also enroll in credit monitoring so that you’re always up to date on changes to your report as they happen.

Unfortunately, not all credit repair companies include credit monitoring in their service packages. Some even make credit monitoring mandatory but require customers to pay an additional fee for this service, often through a third party.

We used the following points system to grade credit monitoring availability from each company:

Excellent (5) Credit monitoring included
Great (4) Additional charge
Good (3) Not offered or not disclosed

Monthly Disputes Included

Each time a credit repair company contacts a credit bureau on your behalf to contest inaccurate information, the company counts this as a dispute. Some credit repair companies place a limit on the number of disputes they’ll file on your behalf in a given month. If you have a lot of information to dispute on your report, this could mean it takes much longer than planned to have it all corrected.

Keep in mind that there are three major credit bureaus, each of which requires disputes to be filed separately. Credit repair companies almost always count disputes per credit bureau, even if the same information is being called into question. For example, if the same misspelling appears across all three of your credit reports, the credit repair company will count that as three individual disputes.

We looked at the number of disputes included per month with each credit repair company and rated them using this scale:

Excellent (5) Unlimited with all plans
Great (4) Unlimited with higher-tier plans
Good (3) Limited number of monthly disputes (>30)
Fair (2) Limited number of monthly disputes (<30)
Poor (1) None or not disclosed

Additional Services

As we’ve discussed, credit repair is often a single part of a much larger effort to repair your finances. This might involve debt management and/or refinancing your current loans, both of which are offered by certain credit repair companies. If a company offers this, you may find it easier to come up with a more comprehensive financial plan for your personal credit issues.

Oftentimes, credit repair services are required by someone’s business, which falls outside the scope of what credit repair companies offer to individuals. To meet this demand, some credit repair providers have additional services tailored to business owners who need help improving their business’s credit.

Companies were awarded a point if they offered the following additional services:

  • Debt management
  • Financing and loans
  • Business services

Costs and Fees

Costs and fees made up 50% of our overall weighted score when evaluating credit repair companies. This is because cost is one of the main pain points for credit repair customers who may already be in a difficult financial situation.

We evaluated the cost of credit repair services based on five key points:

  • Fee structure
  • Cost of services
  • Money-back guarantee
  • Discounts
  • Cancellation policy 

Fee Structure

There are generally three different types of fee structures with credit repair companies. Some ask for a one-time fee that covers the entire cost of all agreed upon services, no matter how long they take. Others charge customers by the month for the duration that it takes to address all disputes. However, some companies charge both a one-time fee to get started (often called a “discovery fee”) and a monthly fee as services continue.

Since customers tend to pay more when companies charge both types of fees, we graded fee structure using the following system:

Excellent (5) Either a one-time or monthly fee
Poor (1) Both a one-time and monthly fee or not disclosed

Cost of Services

Once a credit repair company’s fee structure has been determined, it all boils down to how much they charge for services. We gathered pricing information from all the companies we evaluated and compared them to one another, creating separate tiers for both one-time and monthly fees. 

One-Time Fees

Average one-time fees usually fall in the range of $51 to $100, although some companies charge more and others less. Points were assigned for pricing using this scale:

Excellent (5) $0
Great (4) $1 to $50
Good (3) $51 to $100
Fair (2) $101 and up
Poor (1) Not disclosed

Monthly Fees

Typical monthly fees we saw started between $71 and $90 for the most entry-level service package, although some are cheaper and others more expensive. Companies were rated based on the following price brackets:

Excellent (5) $0
Great (4) $1 to $70
Good (3) $71 to $90
Fair (2) $91 and up
Poor (1) Not disclosed

Money-Back Guarantee

There are certain claims that credit repair companies cannot legally make according to the Credit Repair Organizations Act. For example, companies can’t guarantee results in their marketing materials in order to attract customers. This is because there’s no way to completely guarantee a certain outcome from the credit dispute process, even if you hire a credit repair company.

However, some companies offer money-back guarantees if no results are seen within a certain period of time. This is essentially a way for the company to stand by their services and give customers their money back if no successful disputes are made.

We looked into the money-back guarantees advertised by each company we reviewed and gave points using these criteria:

Excellent (5) Results guaranteed within 30 days
Great (4) Results guaranteed within 31-60 days
Good (3) Results guaranteed within 61-90 days
Fair (2) Results guaranteed within 91+ days
Poor (1) No money back guarantee or not disclosed

Discounts

As with most services, some credit repair companies offer discounts to those who qualify. Discounts vary by company, but common ones include military discounts and reduced pricing for couples who sign up for services together.

Our credit repair review methodology rewarded the companies that offered discounts based on this points scale:

Excellent (5) Discounts available
Poor (1) No discounts available or not disclosed

Cancellation Policy

If you’re enrolled in credit repair services and want to cancel your monthly subscription, there are generally two factors to note. First, some companies charge a fee to those who cancel before a certain period of time has elapsed. Second, many require customers to give notice a specific number of days before their next billing period, typically 30. If a credit repair company has this type of policy, you may be charged for an additional month after you cancel.

By law, credit repair companies must allow customers to cancel and have all their fees refunded within the first three days of signing up for service. Since this is required of every company, no additional points were given to those that advertised this type of policy.

Our rating system gave points to companies based on how customer-friendly they made their cancellation policy. Points were assigned using the following guide: 

Excellent (5) No cancellation fee or notice required
Great (4) No cancellation fee, notice required
Good (3) Cancellation fee, no notice required
Fair (2) Cancellation fee and notice required
Poor (1) Legal minimum (first three days) or not disclosed

Shopping for Credit Repair Companies

No consumer financial industry is immune to pitfalls, but credit repair is particularly known for being rife with scams. While there are plenty of respectable credit repair companies, you should use extreme care when shopping for a service provider.

The FTC maintains up-to-date information regarding the credit repair industry on its website, including specific warnings as potential scams come to light. The agency recommends avoiding companies that show any of these five red flags:

  • Asking for payment before any work has been performed
  • Instructing you not to contact the credit bureaus
  • Suggesting that you dispute information you know to be accurate
  • Telling you to provide false information to a lender or financial institution
  • Failing to explain your legal rights during the credit repair process

When dealing with a credit repair company, you are entitled to certain rights outlined by the Credit Repair Organization Act. The company should provide a written contract up front that includes the following information:

  • The full cost you will pay
  • How long services will take
  • Any guarantees the company offers
  • A clause entitling you to cancellation and a full refund within three days

If a credit repair company doesn’t meet the above guidelines, the safest bet is to walk away and look for a more reputable organization. However, if you’ve already paid and are unhappy with the services provided, you can file a complaint with the FTC.

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Sky Blue Credit Repair Review

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Just getting started with credit repair and not sure what type of service you need? If so, Sky Blue Credit may be a good place to start. The company’s flexible credit repair service can be tailored to meet the needs of those preparing to buy a home, facing debt collectors, or simply trying to rebuild their credit score. But as with all credit repair companies, there are a few drawbacks to consider, too. Our review lays out all the pros and cons to help you decide whether Sky Blue Credit is the right credit repair choice.


Pros Explained

  • Simple cost structure: Sky Blue Credit charges a $79 setup fee and an additional $79 for each month of service.
  • Tailored services: The single service plan covers optional services like mortgage preparation and debt settlement consultations.
  • Offers a 90-day guarantee: If you aren’t happy with the service you receive from Sky Blue, the company will refund all fees paid within the first 90 days.
  • Easy to pause or cancel membership: Pause or cancel your membership in seconds through the Sky Blue Credit membership portal, by email, or over the phone.

Cons Explained

  • Limited monthly disputes: Sky Blue Credit will only send 15 disputes per month, or five per credit bureau. Many competitors offer unlimited disputes.
  • Lacks online resources: The company doesn’t provide a library of free educational resources as offered by some other credit repair companies.
  • Doesn’t offer credit monitoring: If you’re interested in ongoing credit monitoring, you’ll need to sign up through a third party.
  • No free consultation: Initial consultation costs are included in Sky Blue Credit’s $79 setup fee. The gold standard in credit repair is to offer an initial consultation for free.

Types of Services

It’s fairly common for credit repair companies to offer multiple tiers of service packages, selling premium services at a higher monthly cost. Sky Blue Credit offers just one. However, this single plan is more flexible than most, covering a broad scope of services that can be personalized to suit individual needs.

Professional Credit Analysis

One of the main benefits of working with a credit repair company is having an expert set of eyes check your credit report for potential discrepancies. A seasoned credit repair professional may be able to spot errors you would have otherwise missed. Sky Blue provides a detailed analysis of each credit report upon signup.

Credit Disputes

Once Sky Blue Credit has gone through your credit reports, the company begins sending disputes to the credit bureaus on your behalf. Up to 15 disputes, or five per bureau, are included with each month’s membership fee.

Score Rebuilding

In reviewing your credit, Sky Blue Credit will offer suggestions for steps you can take to improve your credit score. This may include prioritizing paying off certain balances or opening a secured credit card. The company will also work with you to form a long-term credit rebuilding plan.


Optional Add-Ons

Since Sky Blue Credit’s service package is all-inclusive, there aren’t any paid upgrades to mention. However, the monthly membership fee does cover a list of services the company considers optional as they’re only applicable to a handful of specific cases.

Debt Validation

If you’ve received a letter from a collections agency for a debt you believe is erroneous, Sky Blue Credit will help you navigate the debt validation process by asking the agency to provide proof of the amount owed.

Goodwill Letters

In some cases, goodwill letters can be sent to ask creditors to remove an accurate derogatory mark from your report. Sky Blue Credit advises that these letters are useful if the event (such as a late payment) was a one-time occurrence and you’ve been making payments on time for at least six months since.

Cease and Desist Letters

Sky Blue Credit customers who have been inundated with debt collection calls can ask the company to send cease and desist letters to stop communications. However, the company notes, this is only used as a last resort as it may trigger a lawsuit from the collection agency.

Debt Settlement Consultations

While Sky Blue Credit isn’t a debt settlement company, customers can ask for advice regarding the possibility of negotiating a reduced payoff amount with the creditor.

Mortgage Preparation

If you’re fixing your credit in preparation to purchase a home, Sky Blue Credit specializes in mortgage lender requirements and will adjust your credit repair strategy according to your timeline.


Customer Service

The best way to get in touch with Sky Blue Credit is by phone or email. Note that phone lines are only open from 9:00 a.m. until 5:00 p.m. EST, hours that might be inconvenient for busy professionals. Sky Blue doesn’t offer live webchat or a smartphone app, although customers can manage their account by logging into an online portal.


Company Reputation

To gauge the reputation of credit repair companies, we often turn to the complaint database maintained by the Consumer Financial Protection Bureau (CFPB). Sky Blue Credit has been named in two complaints in the past three years, both related to customer service issues. The CFPB notes that both complaints were closed in a timely manner.

Sky Blue Credit also has a profile with the Better Business Bureau, although the company isn’t accredited and has a rating of C-. Despite this, customer reviews on the website average an impressive 4.5 stars. Sky Blue also maintains a 4.3-star rating on Google.

If you have a complaint about the services of a credit repair company, you can file a complaint with the FTC or call 877-FTC-HELP.


Contract Duration

Customers who sign up with Sky Blue Credit are not subject to any long-term contracts. The company’s cancellation policy is among the most customer-friendly in the industry. Memberships can be canceled at any time by logging into the online portal, calling the customer service phone line, or sending an email. There are no fees associated with canceling.

If you need a break from paying membership fees but don’t want to cancel entirely, Sky Blue Credit lets you pause service at any time and pick things back up when you’re ready. By taking advantage of this option, you won’t have to pay another $79 setup fee when you resume service.


Cost

Sky Blue Credit’s cost structure is fairly straightforward. Customers pay a $79 upfront fee for the initial setup and consultation process. There’s also a $79 membership fee for each month of service. Both fees are right around average for the credit repair industry.

If you’re not happy with your service for any reason, Sky Blue Credit will refund all fees paid within the first 90 days.

Sky Blue Credit’s money-back guarantee sets the company apart from competitors as it doesn’t depend on a specific outcome. Most companies only offer a refund if no successful disputes have been made within a certain period of time.


The Competition: Sky Blue Credit vs. Ovation Credit Services by Lending Tree

There’s a lot of competition in the credit repair industry, so we compared Sky Blue Credit to longstanding rival Ovation Credit Services by Lending Tree to see which offers better value. Ovation prices its base package in the same range as Sky Blue Credit’s sole offering, although the company also makes a premium membership available with unlimited credit disputes and TransUnion credit monitoring.

But Ovation also provides members with comprehensive educational tools designed to empower them to take control over their own credit, resources that Sky Blue Credit doesn’t come close to matching. For this reason, we’d pick Ovation Credit Services by Lending Tree as the better value.


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Credit Repair Company Earns Top Ranking from TopConsumerReviews.com

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When it comes to top-notch customer service, affordable pricing, and effectiveness, no one does Credit Repair better than Sky Blue

TopConsumerReviews.com once again awarded their highest ranking to Sky Blue Credit Repair, an industry leader among providers of Credit Repair services.

American consumers are starting to catch on: having a good credit history, leading to a good credit score, can make all the difference when it comes to getting the financial stability and life satisfaction they want. Whether that’s to qualify for a lower home mortgage rate, get accepted as a tenant, or secure a student loan, a higher credit score equals more opportunity. But, for people who haven’t had a great track record with credit – late payments, overspending, and so on – it often requires the use of a reputable Credit Repair service to get moving in the right direction again. These services partner with consumers to clean up negative marks on their credit history, advocating on behalf of their clients as they work with creditors and credit bureaus as well as with collection agencies. And, the most reputable Credit Repair services work hand-in-hand with customers to design a plan that will maintain those positive financial decisions in the future.

“When it comes to top-notch customer service, affordable pricing, and effectiveness, no one does Credit Repair better than Sky Blue,” according to Brian Dolezal of TopConsumerReviews.com, LLC. “The company promises a ‘happy, stress-free experience’, and who doesn’t want that when dealing with something as sensitive and potentially stressful as Credit Repair? The process is very simple, starting with a free initial review and consultation with a Sky Blue representative. Once signed up as a customer, you submit your credit report and let Sky Blue get to work for you, disputing at least 5 items per credit bureau every 35 days. Plus, in the first 90 days of your membership, you can take advantage of a condition-free guarantee: cancel for any reason and get a full refund of any fees paid to date. Customers continue to praise Sky Blue for their knowledgeable, friendly service – and for their effectiveness in making bad credit better. For all of these reasons, Sky Blue continues to come in first place among Credit Repair services in 2019.”

To find out more about Sky Blue and other Credit Repair services, including reviews and comparison rankings, please visit the Credit Repair Services category of TopConsumerReviews.com at https://www.topconsumerreviews.com/credit-repair.

About Sky Blue

Sky Blue Credit is dedicated to credit repair, focusing solely on helping customers reaching their credit goals through repair and restoration services since 1989. They pride themselves on speed, disputing 15 items every 35 days, as well as giving intelligent guidance with respect to optimizing customers’ credit scores.

About TopConsumerReviews.com

TopConsumerReviews.com is a leading provider of reviews and rankings for thousands of consumer products and services. From Credit Repair to Debt Relief and Personal Loans, TopConsumerReviews.com delivers in-depth product evaluations in order to make purchasing decisions easier.

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