Arrowhead Advance Review: High Cost Lender to Avoid
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- Min. Amount
- $100
- Max. Amount
- $1,500
- Turnaround time
- As soon as the next business day
Our verdict
This lender offers fast funding but could charge APRs as high as 800%.
Arrowhead Advance is a short-term tribal lender that offers loans up to $1,500. It accepts borrowers with bad credit, offers funding as soon as the next business day and doesn’t charge application or origination fees or prepayment penalties. But, while Arrowhead doesn’t hide its rates — like many high-interest lenders — it charges APRs from 200% to 830%. It also has very poor customer reviews.
Best for: Borrowers who need money in an emergency and can’t find a loan anywhere else.
Pros
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Fast funding
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Bad credit accepted
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Transparent about costs
Cons
-
Rates as high as 830%
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Small loan amounts
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Poor customer reviews
Is Arrowhead Advance legit?
Arrowhead offers short-term loans to borrowers with bad credit, but with rates over 800%, you can hardly call them legit. Its loans are so expensive that they make run-of-the-mill payday loans seem like a good deal.
There’s also been an Arrowhead Advance lawsuit or two, and some customers say they’ve had trouble repaying their loan early — which is supposed to be a selling point, according to its website. You’re better off trying to find a better personal loan lender with lower rates and a better reputation.
Where Arrowhead Advance falls short
The worst thing about Arrowhead Advance is that it charges rates from 200% to 830%. Based on most of its customer reviews, you have to wonder if anyone ever qualifies for its “lowest” rate. Chances are, most people who seek a loan from Arrowhead have exhausted all other options and fallen prey to this lender.
Alternatives to Arrowhead Advance
What makes Arrowhead Advance shine?
Despite its high rates, we can appreciate that — unlike similar lenders — it clearly states how high its rates are. However, that’s not a good enough reason to recommend it.
Arrowhead Advance loan details
| Minimum credit score/credit range | No minimum |
| APR | 200% to 830% |
| Loan amount | $100 to $1,500 |
| Terms | Not specified |
| Approval turnaround | As soon as the next business day |
| Availability | Not specified |
| Fees | Undisclosed late or NSF fees |
| Other fees | None |
Arrowhead Advance contact info
| Phone number | 888-459-1315 |
| Customer service hours | Weekdays: 9 a.m. to 5 p.m. MT |
| customerservice@arrowheadadvance.com | |
| X, formerly Twitter | N/A |
| N/A |
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How to qualify for Arrowhead Advance
You’ll need to meet the following criteria to qualify for a loan with Arrowhead Advance:
- Be at least 18
- Be a US citizen with a valid SSN
- Have an active checking account
- Have a regular source of income
- Make at least $1,000 a month after taxes
- Have a valid email address
How to apply
Follow these steps to apply for a loan with Arrowhead Advance.
- Fill out and submit the online application.
- Discuss your options with a loan representative.
- Have your information verified by the company.
- Receive funding as soon as the next business day if approved.
Arrowhead Advance does not require a hard credit check, so applying for a loan does not impact your credit score. It also doesn’t report your loan or payment history to the credit bureaus, so it won’t help you build credit either.
Arrowhead Advance reviews and complaints
| BBB accredited | No |
|---|---|
| BBB rating | N/A |
| Trustpilot Score | 1.7 out of 5 stars, based on 23 customer reviews |
| Customer reviews verified as of | 29 October 2024 |
Arrowhead Advance doesn’t have a Better Business Bureau (BBB) page, and it gets just 1.7 stars on Trustpilot. Reviewers complain of ridiculously high rates, excessive solicitation, difficulty trying to repay the loan early and being denied a loan even after prequalifying.
Somewhat positive reviews stated that the company was up front about its high rates, and customer service was “professional and polite but not helpful.”
What do people on Reddit say?
Another Redditor, who took out a loan with Arrowhead, was asking others what to do about it. Some advised that they pay it back as fast as possible, while others suggested cutting off autopay and ignoring the loan altogether.
Frequently asked questions
Does Arrowhead Advance check credit?
Arrowhead states on its website that it only contacts traditional credit bureaus to perform a soft credit check and doesn’t report any information that would affect your FICO score.
Is it hard to get a loan from Arrowhead Advance?
Arrowhead Advance says it accepts borrowers with any type of credit history, even bankruptcies. However, some reviewers have complained that even though they received a preapproved offer, Arrowhead Advance denied their loan. So, apparently, they won’t give a loan to just anyone.
Your reviews
Lacey Finder
Writer
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