Integra Credit loans review: High APRs for bad credit

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In a Nutshell

Integra Credit offers small loans to people with less-than-perfect credit. But its sky-high APRs make its personal loans very expensive — and they’re not available in most states.

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Pros Cons
Small loan amounts available High interest rates
May be able to receive money quickly Late fees
Not available in most states

What you need to know about an Integra Credit personal loan

Based in Chicago, Integra Credit offers personal loans to people with less-than-perfect credit in a little over a dozen states. It offers loans from $500 to $3,000 with terms that range from six months to 24 months. But loan amounts and terms may differ within that range based on where you live. If you apply for Integra online, you should get a fast credit decision.

High interest rates

Compared to other personal loan lenders, Integra Credit loans have very high interest rates — often with APRs in the triple digits. A rate that high can end up costing you hundreds or thousands of dollars in interest depending on the length of your loan term, even if you only borrow a relatively small amount of money.

Integra is transparent about its rates, though — so if you visit the rates and terms page on its website, you’ll be able to see the range you may be facing before you register on Integra’s site and submit to a hard credit inquiry that can affect your credit scores.

Fast funding is possible

If you need an emergency loan, you may be able to get funding quickly. If you apply for a loan and finalize your loan agreement by 8 p.m. Central time on a business day or by 3:30 p.m. Central time on a Sunday, you can get your money as soon as the next day via direct deposit.

But keep in mind that the time it will take to access your funds depends on your bank.

May face a late fee

If you’re having trouble making a payment by its due date, you’ll have a 10-day grace period. But you’ll be hit with a late fee if you don’t pay by then. The exact amount will vary based on the state you live in.

Common question: Is an Integra Credit personal loan better than a payday loan?

That depends. Integra’s APR, or annual percentage rate, can be similar to APRs on a typical payday loan, depending on where you live and your credit.

The main difference is payday loans usually only go up to $500 or so and repayment is due on your next payday. Integra has longer loan terms and higher loan amounts.

But that doesn’t always work in your favor. While it can be nice to have more time to repay, the longer your loan term lasts, the more interest you’ll pay in general. If you can afford to repay your loan early, that’s probably your best bet since Integra doesn’t charge a prepayment penalty.

How to apply with Integra Credit

To apply for an Integra Credit personal loan, you must be a U.S. resident with a bank account and email address. You also need to meet the minimum age required by your state.

You can visit its website to check your potential loan options. But be aware that when you create an account, you’ll be agreeing not only to a credit check but to getting phone calls with marketing offers.

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

  • NetCredit personal loan: If you live somewhere that Integra Credit doesn’t serve, NetCredit may be worth exploring since it offers personal loans in more states — though interest rates may also be in the triple digits.
  • Avant personal loan: Avant might be an option to consider if you need to borrow more money than an Integra loan offers. And though its maximum interest rates can be high, they don’t come close to triple digits.

Both of these options allow you to apply for prequalification, so you can avoid hard credit inquiries while getting at least an idea of potential offers (remember that prequalification is not a guarantee — final terms may differ).

About the author: Anna Baluch is a freelance personal finance writer from Cleveland, Ohio. You can find her work on sites like The Balance, Freedom Debt Relief, LendingTree and RateGenius. Anna has an MBA… Read more.