Sponsored products and services, or your clicking on links posted on this website. The owner of this website may be compensated in exchange for featured placement of certain is an independent, advertising-supported service. This editorial content is not provided by any financial institution. Their use does not signify or suggest the endorsement,Īffiliation, or sponsorship, of or by SuperMoney or them of us.Īny opinions, analyses, reviews or recommendations expressed here are those of the author’s alone,Īnd have not been reviewed, approved or otherwise endorsed by any financial institution. *SuperMoney is not responsible for third party products, services, sites, recommendations, endorsements, reviews, etc.Īll products, logos, and company names are trademarks™ or registered® trademarks of their respective holders. Unfortunately, we don't have sufficient community reviews to provide a reliable rating of their user experience and customer service. Xact was founded in 1993, it is a well-established company that has been in business for 30 years. Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit. Yes, Xact Loan reports your account activity to the following credit reporting agencies: Xact Loan will typically approve (or deny) a loan application within 24 hours and fund loans within business day of approval.ĭoes Xact Loan report your account activity to credit bureaus? What is the estimated funding time for a personal loan via Xact Loan? Xact Loan Eligibility Criteria Minimum Age Applicants must have an active and valid personal checking or savings account.To qualify, applicants may need to provide the following documentation: citizens and permanent resident / green card holders are eligible to apply for the services offered by Xact Loan. Their rates fall within the limits of The Military Lending Act. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers.Īctive duty service members and their covered dependents are eligible to apply for a loan via Xact Loan. Xact Loan only considers borrowers who are employed. Xact Loan does not have or does not disclose a minimum annual income eligibility requirement. The minimum age to be eligible is 18 or the state minimum, whichever is higher. What do you need to qualify for Xact Loan?Īpplicants with a credit score as high as 850 are eligible, but Xact Loan does not require a minimum credit score. This means you will not have to pay additional fees if you decide to pay the personal loan off early. No, Xact Loan does not charge prepayment fees. No, Xact Loan will not charge you a late fee if you miss one of the monthly payments. Whenever possible, go with lenders that don’t charge origination fees. Typically origination fees range from 0.5% to 5% of the personal loan amount. Xact Loan does not charge a personal loan origination fee.Ī personal loan origination fee is what some lenders charge for processing, underwriting, and funding a personal loan. Does Xact Loan charge an origination fee?
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