This article is for informational purposes only and should not be construed as legal or financial advice.
Have you gotten a mailer from Priority Plus Financial, saying you pre-qualify for a loan with a 5.95% interest rate? After doing some research on Priority Plus Financial’s reviews, we wanted to take a closer look at any minimum credit score requirements they have in order to get a loan.
To start, I read through their FAQ and terms at the bottom of the site to see if any requirements were mentioned.
Priority Plus Financial FAQs
As stated in their Frequently Asked Questions, it’s important to note that receiving a pre-selected offer or mailer does not actually guarantee you’re approved for the loan, or that you even actually qualify.
Source: https://priorityplusfinancial.com/faqs
Typically there are multiple factors that determine if you qualify and what your interest rate will be. For Priority Plus Financial, the interest rate is determined by your credit score, credit history, income, loan amount, and length of the loan. But notice that there aren’t any specifics mentioned regarding the credit score.
Source: https://priorityplusfinancial.com/faqs
Priority Plus Credit Score Terms
Based on their terms below, Priority Plus Financial works with multiple lenders to match you with the best loan option, based on your financial situation.
To summarize their terms:
Loan Details:
- APR (Interest Rate): 5.95% to 29.99% – lower rates go to borrowers with stronger credit
Loan Amounts:
- $5,000 minimum up to $100,000 maximum
To qualify for a loan, you must:
- Meet the criteria from the original loan offer
- Meet their standards via your credit report, application, and credit history
- Have a loan-to-income ratio under 50% – your monthly loan payments must be no more than half your monthly gross income
- Be employed for at least one year
It’s important to note that loan approval is not guaranteed, unless you meet all credit and income criteria.
Source: https://priorityplusfinancial.com/
What Do Their Clients Say?
Since we couldn’t find any information on their website regarding credit score requirements, I headed over to Reddit and Better Business Bureau to see if the requirements were mentioned by their clients.
I found multiple threads on Reddit, but none of them specifically mentioned anything about credit score requirements.
However, in one of the Reddit threads, someone mentioned having about a 650 credit score and rather than receiving a loan, they were offered a program where they would be charged a 25% fee.
In a different Reddit thread, someone mentioned receiving a mailer from them that looks like a government program. I wonder if we’ll find something similar in the Better Business Bureau reviews…
Better Business Bureau
On Better Business Bureau, I again couldn’t find anything about specific credit score requirements. However, there were a handful of comments that also warned about receiving a mailer that looked like government documents.
Another reviewer mentioned responding to their loan offer, but ended up being rejected and offered a debt settlement program instead. This frustrated them, as their “credit score is excellent.” And again, it’s still unclear what the actual credit score requirements are, if any.
Want to Know if You Qualify?
Curious if you qualify for a debt consolidation loan? Just use our free loan calculator to quickly estimate your options! In only a few minutes, you’ll see: potential loan amounts, monthly payments, and how long it could take to pay off your debt. This can help you to compare and choose what works best for your budget!
Closing Thoughts
Unfortunately, I couldn’t find anything regarding minimum credit score requirements for Priority Plus Financial.
Getting a mailer that says you’re pre-qualified for a low-interest loan can feel exciting and provide hope. But when it comes to Priority Plus Financial, things aren’t so clear-cut. Their FAQs and terms point to multiple factors – like income, loan size, employment history, and credit profile – but nothing concrete about credit score requirements.
Some users with decent credit reported being offered debt consolidation programs instead of a loan, which raises questions about how selective the approval process really is.
Before jumping in, it’s always smart to do your homework and compare your options. If you’re wondering whether you’d actually qualify for a consolidation loan, try using our free loan calculator above. In just a few minutes, you’ll get a personalized estimate of your loan eligibility, monthly payments, and payoff time. No impact to your credit and no personal info required, unless you’d like to chat through your options with us.
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