Credit9 Review: Is It Legit? is it a joke Can you trust him? - Direct demo (2023)

Credit9 offers personal loans and debt consolidation loans on 3 different websites: Credit9.com, Apply.credit9.com and loan.credit9.com. They also use the name Credit 9 Lending.

Review summary

Why are we asking if Credit9 is trustworthy? We gave Credit9 a one-star rating and here's why:

Credit9 sends direct mail offers to consumers who sayCONGRATULATIONS! YOU HAVE BEEN PRE-APPROVED. They typically market to consumers with less than perfect credit and offer low interest rates to consolidate debt, manage debt and make them believe they will have a low monthly payment and eventually be debt free. The amount was $28,000 and the pre-approved interest rate was 5.99% (see sample Credit9 mailing offer below). I even had a personalized reservation code. It looked like a lot. Who wouldn't be delighted to get pre-approved for a loan at such a low interest rate? But then I checked the fine print and was disappointed.

A few things stood out:

• APRs will range from 5.99% to 24.00% and will include a 2.5% origination fee
• Loans with lower interest rates and loans over $35,000 will likely be negotiated.

Also, the fine print on the Credit9 website creates additional concerns for me:

• Installment loans with an APR of 24.00% or less are made by Credit9 or as applicable by state law.
• The actual loan amount, term, and APR of a loan for which a customer qualifies for approval, and loan terms vary by credit determination and state law.
• * Example: Loan Amount: $4,300.00, Annual Rate: 24.00%, Number of Payments: 30, Monthly Payment: $191.99.

Furthermore, if youCredit9 Licensingpage, you'll see that it quotes rates in most states where it has lending licenses from 18% to 24%.

Who is Credit9?

Credit9, LLC is a licensed lender of Delaware Limited Liability Company under DFPI (Department of Financial Protection and Innovation LLC CA CFL 60DBO-83965). Credit9 works with you to consolidate your debts and reduce your monthly payments without settling for less than you owe.

Credit9 was founded in 2021 and has an impressive A+ rating with BBB. The company has 36 complaints filed over the past 3 years and 1,413 customer reviews as of September 5, 2022

The company is headquartered at 18201 Von Karman Ave Ste 700, Irvine, CA 92612-1058. Credit 9 is affiliated with Americor, Fast Loans Funding, using Credit9 Holdco Inc as an alternate name. The company can be reached at (800) 291-0172.

What are Credit9's fees?

Minimum loan amounts vary by state, although Credit9 advertises rates as low as 5.99%, they typically charge an APR of 18-24% on your actual loan, including an origination fee and your credit determination . They also claim to negotiate low interest loans and loans over $35,000. Common personal loan fees include interest, origination fees, late fees, and prepayment penalties.

What effect does Credit 9 have on your credit score?

Looking at your credit score will not affect it, but applying for credit through Credit9 will. Checking your rate generates a soft query on your credit report that is only visible to you and does not affect your credit score. However, when you apply for credit through Credit9, they do a thorough investigation that can affect your credit report score.

Credit9 BBB ratings

Credit 9 offers consumer and business loans with a simple application process and fast approval. They are a Delaware registered limited liability company and have an A+ rating from the Better Business Bureau and an excellent score on Trustpilot, but some of the negative reviews are sobering - here are 3 positive and 3 negative.Credit9 BBB ratings:

Stanley V 30/08/2022 See More

That. The company helped me to restructure some debts. Excellent to work with. Easy communication and he was able to get it done. Complete everything from my phone.

Bárbara J 30/08/2022 See More

***** helped me a lot. I am very happy with Credit9 and how they are helping me get my credit back.

Desiree C 30/08/2022

Great experience. The process was easy and fast. I am a very satisfied customer. Thanks for your help. I'm excited to be able to pay off my credit card debt and increase my credit score.

Daniel S 16/05/2022 See More

This is not really a lending company, they are more of a middleman. Commission based call center processing, and there is no way to see what you qualify for without talking to someone to enter your information. There is no way to complete the process in a secure web-based way. Just ask yourself, what kind of lender can know whether or not they can give you a loan before they have any information about you? When you call, they have to "get your info" to find out what they can do for you.

Go to any major lender's website and you'll immediately see the difference. I'm not saying they can't help people, I'm just saying they probably won't be able to help you the way they advertised. Think of it more like a "debt repair clinic" than an actual creditor.

If you're calling this company instead of several well-known and reputable companies, you're probably dealing with their "debt relief program", which is basically where you stop paying credit cards from debt companies and pay them a lesser amount to keep as a bargaining chip, so they settle for a smaller amount. This is not importantdebt consolidationcompany.

Monica On 05/09/2022

Credit9 sent an email offering debt consolidation but what they offered was a type of credit counseling service where they would contact my creditors and negotiate to reduce my loan amounts. This is definitely a bait and switch company. Don't trust them. I want to consolidate my loans, lower my monthly payments, and help boost my credit score.

This program would not help my credit score for at least 3-4 years. Again, don't trust them! The loan I was offered was not for me because I don't have A1 credit. This company really doesn't want to help people; they only work with certain lenders and charge a fee to negotiate the lowest amounts. If you are looking for a true debt consolidation loan, go elsewhere. People who would qualify for your loans probably don't need this service. I can negotiate payments with my current credit cards.

Trish M 05/05/2022 See More

Ugh, this company is deceitful. I read a "pre-approval" letter for a "consolidation line of credit" up to 70K. They even attach a fake check in your name for $79k. But they don't offer loans to pay off debt unless you have a credit score above 680; They don't say that in the letter. I have good credit but I want excellent.

They want someone with a lower score who is struggling to do some sort of debt relief where they call their creditors (but only those they "work" with) to settle for a lower balance and charge a fee for it. ; The salesperson I spoke with said that most of his customers are struggling and need help with their creditors. They don't do "consolidation loans". Don't be fooled.

FAQ do Credit9

How does Credit9 work?

A Credit9 personal loan is an unsecured loan that can be used for a variety of purposes, including consolidating debt, paying off a large purchase, or covering the cost of a major expense. Personal loans typically have lower interest rates than credit cards, making them a good option for borrowers who need to finance a large purchase or consolidate debt. All loans are subject to credit review and approval.

There are a few ways to get a loan: from online lenders, local banks and credit unions. The process is usually quite simple: fill out an application, provide some documentation and, if approved, receive the funds in a lump sum. After that, just make a few monthly payments until the debt is paid off.

One of the main advantages of personal loans over credit cards is that they offer a fixed interest rate and set payment terms. This can provide borrowers with greater certainty and peace of mind when planning their finances. Knowing this can ease your worries about your financial situation.

How much does Credit 9 save you?

If you're having trouble paying off credit card debt, a Credit 9 personal loan can be a great way to save money. By securing a lower interest rate, you can save a lot of money in the long run. Also, if you get a loan amount that you can comfortably repay, it can help free up some extra cash for things like your dream wedding or vacation. However, it is important to avoid taking out a loan that you cannot repay. If you miss a payment or don't pay back the loan, it can ruin your credit score and lead to financial problems.

Is Credit 9 a debt settlement company?

The answer is no. Credit 9 provides personal loans and debt consolidation. Debt settlement is a process in which you negotiate with your creditors to pay less than you owe. This can be done by yourself or with the help of an outside company. Not all creditors accept debt settlement, and there are some cases where doing so can do more financial harm than good. However, Credit9 affiliate Americor is a debt settlement company.

What are the Credit 9 fees?

Credit 9 is known for charging hidden fees and penalties, so be sure to read the fine print before applying for a loan. But if you're looking for a loan with no hidden fees, more flexible payment terms, and lower interest rates than a credit card, a personal loan might be your best option. The popularity of personal loans has increased in recent years for good reason.

Is Credit9 legit?

Credit9 is a legitimate company. The company has mixed reviews online, with some people praising the company while others claim the company is a scam.

If you've had experience with Credit9, please share your story in the comments. We would love to hear from you.

Thanks for reading!