CreditBox review: Short-term loans with high interest rates

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In a Nutshell

If you need money to hold you over until payday or to cover an emergency expense, you may be able to get loan funds from CreditBox transferred to your checking account within 24 hours — if you’re approved. But you should expect high fees and finance charges.

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Pros Cons
Loans up to $4,000 Very high interest rates
Approved loans may be funded within 24 hours Short loan terms
Only available in certain states

What you need to know about CreditBox loans

CreditBox offers short-term installment loans for when you need money to say, pay for a car repair or to tide you over until payday. Depending on where you live, you can apply for a loan from $100 to $4,000. And even if you don’t have good credit, you might be able to qualify for a loan through CreditBox.

Here are some more things you should know about CreditBox before submitting a loan application.

You may get your loan funds quickly

If you need to make rent or just buy groceries, you might not have much time to wait for a lender to approve your loan and disburse the funds. CreditBox promises you can apply for a loan, and often get a decision, within just a few minutes. If approved for a loan, CreditBox may even issue you the money by the next day.

CreditBox offers loans with short loan terms

Many personal loan lenders give you several years to repay your debt, potentially making payments more affordable. But CreditBox is a short-term lender, offering loans with repayment terms as short as 90 days — and that’s the maximum. How much you can borrow and your maximum loan term depends on your credit as well as your state.

CreditBox loans have high interest rates

CreditBox offers loans with very high interest rates. Depending on where you live, there may be caps on how much interest the lender can charge. For example, the APR on loans for $5,000 or less in New Mexico can’t exceed 175%. But in some cases, the APR on a CreditBox loan can exceed the costs typical of even payday loans.

CreditBox has a referral program

If you refer friends or family members to CreditBox, the company may give you both a reward. With its Refer-a-Friend program, you’ll get a personalized link that you can share on social media or via email or text. If your friend applies for a loan through your referral ID and provides your name during the application process, you’ll get $100 and your friend will get a $50 credit toward their approved loan.

A closer look at CreditBox loans

  • Not available in all states — You’ll need to live in Illinois, Missouri, Nevada, New Mexico, Utah or Wisconsin to apply.
  • No prepayment penalty — If you want to pay off your loan early, you won’t face an extra charge for that.
  • Small loan amounts — Loans start at just $100, so if you need a small loan, CreditBox may be a good option for you.

Who a CreditBox loan is good for

While CreditBox disburses approved funds quickly and considers applicants with little to no credit, the loans come with very high interest rates and short repayment terms, making them expensive loans. That means you should only consider applying for a Credit Box personal loan if you’ve exhausted your other options and have an unavoidable expense you need to pay for right away.

If possible, consider a longer personal loan or a payday alternative loan from a federal credit union, both of which may be less expensive.

How to apply for a CreditBox loan

While CreditBox is based in Des Plaines, Illinois, you can apply for a loan online at if you live in one of the six states in which it operates. To get started, you’ll need to have the following information and documents:

  • A verified bank account and voided check
  • Valid driver’s license or state identification
  • Current proof of income, such as a pay stub or government benefits award letter
  • Proof of residency (two recent pieces of business mail)

After you submit your information, CreditBox will evaluate your application and decide whether to issue you a loan. The process usually takes just a few minutes if you have all your documents prepared. If approved, you’ll receive an email notification.

You can also apply by calling CreditBox at 1-888-669-4227.

Not sure if CreditBox is right for you? Consider these alternatives.

  • NetCredit: If you want to check your rates, you can see if you prequalify for a loan with NetCredit without hurting your credit scores.
  • LendUp: LendUp may be a good choice if you’re looking for an installment loan that can help you apply for loans at lower rates over time.