Achieve has exceptionally low starting rates and multiple rate discounts. Borrowers may qualify for a rate discount by applying with a co-borrower, sending debt consolidation funds directly to creditors, or showing they have sufficient retirement assets.
However, Achieve isn’t best if you need to borrow less than $5,000 or more than $50,000. We were also disappointed that the lender wasn’t forthcoming about late fees.
What is Achieve best for?
- Rate discounts: Achieve offers rate discounts if you apply with a co-borrower, have sufficient retirement assets, or send money directly to your creditors for debt consolidation.
- Fair credit: Achieve works with fair-credit borrowers who have credit scores as low as 640.
- Customer service: You have the option to work with a loan consultant throughout the application process. Achieve also earned good customer reviews with the Better Business Bureau, receiving 4.29 out of 5 stars.
Achieve: Best for rate discounts
Est. APR
6.25 – 35.99%
Loan Amount
$5,000 to $50,000
Min. Credit Score
640
Pros and cons
Our take
More details
Who is Achieve not best for?
- Borrowers who want a long repayment timeline: While Achieve offers the flexibility to choose a 2-, 3-, 4-, or 5-year repayment timeline, some lenders offer longer loan terms (up to seven years) that make monthly payments more affordable.
- Those who need very large or very small loans: Achieve personal loans range from $5,000 to $50,000. If you want to borrow less than $5,000 or more than $50,000, you’ll need to look elsewhere.
Pros and cons
Pros
- Low advertised rates
- Funding in 1 to 3 days
- Accepts joint applicants
- Multiple discounts
- Considers fair credit
Cons
- Origination fee
- Limited availability
- No loan-servicing mobile app
- No autopay discount
Details on the pros
- Low advertised rates: Achieve’s personal loan rates are among the lowest of all personal loan lenders we review.
- Funding in 1 to 3 days: Achieve offers same-day decisions on loan applications and funds most loans within 24 to 72 hours.
- Accepts joint applicants: Applying with a joint applicant can help you qualify for a loan or get a lower rate.
- Multiple discounts: Applying with a co-borrower, showing evidence of sufficient retirement savings, or using the loan to consolidate debt could reduce your interest rate.
- Considers fair credit: Achieve offers loans to borrowers with fair credit, while some lenders require good or excellent credit to qualify.
Details on the cons
- Origination fee: Achieve charges upfront origination fees between 1.99% and 8.99% of the loan amount.
- Limited availability: Achieve loans aren’t available in 12 states: Colorado, Connecticut, Hawaii, Iowa, Kansas, Maine, North Dakota, Vermont, Washington, West Virginia, Wisconsin, and Wyoming.
- No loan-servicing mobile app: Achieve doesn’t offer an app to manage your loans. You can only access your account through the lender’s website.
- No autopay discount: In spite of having multiple available discounts, a rate reduction for setting up autopay isn’t one of them.
How to qualify for an Achieve personal loan
Achieve requires a minimum credit score of 640 to qualify for a personal loan. The lender doesn’t list specific income or employment requirements, but requires the following during the application process:
- Proof of income
- Social Security number
- Proof of identity
- Employment status
Achieve personal loan purposes
Achieve offers personal loans for almost any purpose, including:
Allowed loan purposes
- Debt consolidation
- Credit card refinance
- Home improvements
- Medical expenses, including for emergencies or elective treatments
- Major purchases
- Weddings
- Vacations
Though Achieve doesn’t list prohibited uses, there are some expenses you can’t typically use a personal loan for, including paying college tuition and investing.
Achieve fees and penalties
Though Achieve doesn’t charge prepayment penalties for personal loans, there are several fees you should be aware of:
- Origination fee: Achieve charges an origination fee of 1.99% to 8.99%. Origination fees are common and may be charged upfront as a percentage of the loan balance.
- Late fee: Achieve does not disclose whether it charges a late fee or how much the fee is. The lender did not respond to our inquiry for more information.
Credible rating
Credible rating
Credible rating
Achieve company details and history
Achieve is a digital personal finance company that offers personal loans, HELOCs, home equity loans, and debt settlement services.
Achieve is headquartered in Tempe, Arizona, with hubs in California, Arizona, and Texas. It is not a bank, and it partners with Cross River Bank to originate personal loans.
Contact information
Achieve connects you with dedicated loan specialists if you need help during the application process. You also have multiple options to contact Achieve, including:
- By phone: Call Achieve at 1-800-920-0045 or 1-833-418-3193
- By online form: Submit an online message through Achieve’s contact page
- By email: Email infoteam@achieve.com
Achieve’s customer service team is available Monday through Friday from 8 a.m. to 11 p.m. EST and Saturday and Sunday from 9 a.m. to 9 p.m. EST.
Methodology
Credible evaluated 32 lenders across 1,216 data points based on customer experience, minimum fixed interest rates, maximum loan amounts, funding times, loan terms, fees, discounts, third-party reviews, and more. Credible’s team of experts gathered information from each lender’s website and from our partners directly. We also considered each of our partner lenders’ statistics over a 12-month period — including average funding times, average credit scores for approved applicants, and average rates.
Learn more about how Credible rates lenders by exploring our personal loans lender rating methodology.
We assigned a numerical value to each attribute based on how that feature compared with the same feature for every other lender in the set. Attributes were grouped into categories, scores were compiled, and categories were weighted according to their relative importance — for instance, rates and fees were weighted highest since loan cost is among the most important factors in determining loan value.
- Rates and fees: 18.75%
- Eligibility and options for bad and no credit: 17.5%
- Availability: 12.5%
- Loan amounts and terms: 10%
- Customer satisfaction: 10%
- Customer service: 10%
- Efficiency and fund delivery: 10%
- Discounts: 7.5%
- Credible proprietary data: 3.75%
We also considered each of our partner lenders’ statistics over a 12-month period — including average funding times, average credit scores for approved applicants, and average rates. Learn more about how Credible rates lenders by exploring our full personal loans lender rating methodology.
Where we get our data
Credible is a personal loans marketplace that partners directly with lenders to offer loans for a wide range of credit profiles and loan purposes. Because of these relationships, we have access to the most current interest rates that real borrowers are being approved for, along with average rates by credit score and loan purpose, approval rates overall and by lender, and more. The data we use is primary source data, updated weekly, and does not include any personally identifiable information about borrowers.
Why trust Credible
FAQ
Is Achieve a trustworthy company?
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Achieve has an A+ rating, is accredited by the Better Business Bureau, and has an average rating of 4.8 out of 5 stars on Trustpilot. While Achieve isn’t a bank, it originates loans through Cross River Bank, which is FDIC-insured.
What is the minimum credit score needed for an Achieve loan?
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You need a minimum credit score of 640 to qualify for a personal loan from Achieve. If you don’t qualify on your own, you could apply with a co-borrower and potentially improve your chances.
Is it hard to get a loan through Achieve?
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Getting a loan through Achieve may not be as difficult as getting a loan through other lenders. Achieve’s only explicit personal loan eligibility requirement is a minimum credit score of 640. This benchmark falls in the fair credit range, while some competitors require good credit.
How long does it take to get a personal loan from Achieve?
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Achieve typically provides a decision on loan eligibility the day you apply. Funding times range from 24 to 72 hours. This means it is possible for some borrowers to get a loan within one day of applying.
Does a loan from Achieve hurt your credit?
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Personal loans can affect your credit score both positively and negatively. Applying for a loan from Achieve involves a hard credit pull, which can temporarily cause a slight reduction in your credit score. However, if you make on-time payments and pay off high-interest credit cards, your score will likely increase.
What documents are needed for an Achieve loan?
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When you apply for a personal loan from Achieve, you’ll need to provide proof of income, your Social Security number, proof of identity, and your employment status. The lender will also run a hard credit pull.
