Reprise Financial Personal Loans Review
- Max. Loan Amount
- $25,000
- APR
- 9.99% to 36%
- Min. credit score
- N/A
Our verdict
This lender offers secured and unsecured loans, but loan terms may differ from what’s advertised.
Reprise Financial is a decent lending company with many positive reviews and fast funding, although rates start at 9.99%, which is on the high side compared to similar lenders. But borrowers should know that some customers have complained about receiving appealing loan terms during preapproval, only to be offered high interest rates that require collateral during final approval steps. Reprise Financial also charges origination fees and quite a few other fees, depending on where you live.
Best for: Borrowers who need a loan quickly and don’t have excellent credit.
Pros
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Funding within one business day after approval
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Offers unsecured and secured loans
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No hard credit check to prequalify
Cons
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Charges origination and other fees
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Doesn’t accept self-employed income as a primary source
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Customers report inconsistent loan terms throughout the application process
Is Reprise Financial legit?
Reprise Financial is a legitimate financial company that is verified by Trustpilot and the Better Business Bureau (BBB). However, borrowers should be cautious about conflicting advertised APRs and approval statuses compared to actual loan terms during the approval process. If you’re considering taking out a loan with Reprise Financial, you may want to look over its positive and negative reviews from real customers.
What makes Reprise Financial shine?
Reprise Financial stands out in the personal loan market with its customizable payment plans and terms to fit various budgets, along with a track record of excellent customer service. Fees are transparent, and it has a secured loan option to enhance approval odds and potentially offer better rates.
Where Reprise Financial falls short
Several customers complain they received a higher APR than advertised once their application was actually approved. There also seems to be a push toward getting customers to use their cars as collateral even when people are applying for unsecured loans.
And, on the fee side, loans come with an origination fee of up to 6% plus a number of other possible fees, which vary depending on where you live. If you have excellent credit and the luxury to shop around for other personal loans, you might want to look at lenders that don’t require origination fees, like SoFi or LightStream.
Reprise Financial loan details
Here are the details Reprise Financial discloses about its loan products.
| Minimum credit score/credit range | N/A |
| APR | 9.99% to 36% |
| Loan amounts | $2,500 to $25,000 |
| Terms | 3 to 5 years |
| Approval turnaround | As soon as one day |
| Availability | Not available in: Colorado, Connecticut, Hawaii, Iowa, Maine, Maryland, Massachusetts, Nevada, New Jersey, New York, South Dakota, Vermont, Washington, West Virginia |
| Fees | Fees vary by state:
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| Other fees |
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Reprise Financial contact info
| Phone number | 877-505-6780 |
| Customer service hours | Weekdays: 8 a.m. to 10 p.m. CT Saturdays: 8 a.m. to 2 p.m. |
| contactus@reprisefinancial.com | |
| X, formerly Twitter | N/A |
| Reprise Financial |
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Monthly Repayment Calculator
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How to qualify for Reprise Financial
Reprise Financial discloses a short list of requirements to access its secured and unsecured loans:
- Must be at least 18 and a US citizen or resident
- No more than two loans with Reprise in the last 12 months
- Be employed or have sufficient income from other sources
- Self-employed income cannot be the primary source of income
How to apply
Reprise states it has a simple and quick application that should only take a few minutes:
- Prequalify online. Start your application online through its website. Preapproval can be granted in minutes.
- Review loan offers and accept loan terms. Read the fine print to be sure you understand the actual rates and terms you’re being offered. Once you’ve selected your best option, sign the loan agreement.
- Receive funds. Reprise states you can receive your funds as soon as the next business day after approval.
- Follow the repayment plan. Stick to on-time loan repayments to avoid hefty fees.
Reprise Financial makes a soft credit inquiry when you check your rate that does not impact your credit score. However, if you proceed with the application, it makes a hard credit inquiry, which may temporarily lower your credit score by a few points.
How Reprise Financial compares to other lenders
What is the Finder Score?
The Finder Score crunches 6+ types of personal loans across 50+ lenders. It takes into account the product's interest rate, fees and features, as well as the type of loan eg investor, variable, fixed rate - this gives you a simple score out of 10.
Reprise Financial reviews and complaints
| BBB accredited | Yes |
|---|---|
| BBB rating | A- |
| BBB customer reviews | 3.69 out of 5 stars, based on 271 customer reviews |
| Trustpilot Score | 4.7 out of 5 stars, based on 9,264 customer reviews. |
| Customer reviews verified as of | 09 July 2024 |
Many reviewers on the BBB and Trustpilot praise the fast and easy approval and funding process. They also complimented the professional and helpful customer service representatives who helped them through the application process and kept in touch about next steps.
But others complain of much higher rates — sometimes double — what they were originally quoted. And some customers reported being asked for collateral even after being told they were approved for an unsecured loan. There was also some talk of inconsistent credit reporting and having to resubmit documentation multiple times.
What do people on Reddit say?
Frequently asked questions
How long does it take to get money from Reprise Financial?
In general, if you agree to your loan before 3 p.m. CT Monday through Friday, your funds are available on the next business day. If you accept your offer after 3 p.m., you should expect your loan proceeds on the following business day.
Does Reprise Financial verify income?
Yes. When you apply, Reprise asks you to submit all pages of your most recent bank statements, and they must be dated within 30 days of your loan request. You may also be asked to submit alternative proof of income documents such as W-2s or pay stubs.
Can I get a loan with Reprise if I have bad credit?
Reprise doesn’t state a minimum credit score requirement, which typically means you can apply even if you have poor credit. However, you may be required to pledge your vehicle as collateral for the loan, or you’ll likely have to pay a higher interest rate than borrowers with stronger credit scores.
Your reviews
Lacey Finder
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