I currently have a $10,000 loan through Avant. They were really the only company that considered with my low 600's score initially and knew from the beginning the high 29.97% interest but knowing I had some money coming in sooner or later I knew I can pay this off without paying the full interest. I see too many complaints about the high interest fee. You need to know how to calculate the daily interest rate (accured). For example, if my loan is $10,000, after 30 days, I already racked up $246 in interest alone! That means my $423 or so in payments, over half will go into interest. Next month as the principal amount goes down, about $2 go down in interest. Accrured Interest = (Daily Interest Rate) x (Days Since Last Payment with Interest) x (Current Outstanding Balance). So this means you pay $177 only for the principal at 30 days leaving you a principal balance of $9,823. Each day counts here! But say instead of the $423, you double the payment for $846. The interest is still $246 but you just paid $600 in principal balance leaving you $9,400. While still high your interest will go down by $10 the next month. Even better if you can pay that extra amount BEFORE the end of 30 days when your payment is due.
With that said, if you have means of paying extra each day, week or month, do so. The more you can knock down on the principal balance the faster you'll be able to pay off this loan. I would say if your FICO is low but can get approved just know how much it's going to cost you to take out this loan unless you have excellent credit (which you probably wouldn't be looking at Avant).
I deducted one star for the lack of clear definition and how the interest is calculated as much as the customer service people were nice. They need to provide examples (both visual and written) so people can see how this loan will benefit them (or not). When someone (like most people) without a knowledge of how daily interest is calculated it gets confusing really fast.
I'll be paying this off with my bonus but initially did this to pay off my credit card debt (for high FICO) and also Avant's loan is listed as installment loan so it won't show up as one of those debt consolidation loan that "may" affect the way the FICO is calculated.