CreditCube Loans Review: High Cost, Choose an Alternative
CreditCube isn't available on Finder right now.
- Min. Amount
- $200
- Max. Amount
- $5,000
Our verdict
Fast cash to cover emergency expenses when you’re out of options, but beware of sky-high APRs.
CreditCube, a tribal lender, can provide cash quickly to cover emergency expenses, particularly for borrowers with poor credit who have limited options. However, the extremely high interest rates — up to 779.97% APR — make these loans a costly choice. Only consider CreditCube as a last resort when no better alternatives are available.
Best for: Fast cash to cover emergency expenses when you’re out of options.
Pros
-
Applying doesn’t affect your FICO score
-
Get money in as little as one business day
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No prepayment penalties
Cons
-
High APRs of 259.94% to 779.97%
-
Maximum loan limit of $500 for first-time borrowers
-
Has an F rating from the Better Business Bureau
Is CreditCube legit?
Yes, CreditCube offers legitimate loans, but the company’s reputation is in question due to its F rating on the Better Business Bureau (BBB) website and a pending class action lawsuit in Illinois. The lawsuit accuses CreditCube of using a “tribe-for-hire” scheme to skirt state usury laws that would limit its exorbitant APRs.
If you choose to borrow from CreditCube, you have three days after signing your contract to change your mind and cancel the agreement. Your application is also protected by industry-standard protocols. However, CreditCube shares your information with both affiliates and non-affiliates for marketing purposes, so you may receive unwanted offers from third-party companies.
Where CreditCube falls short
The biggest downside to borrowing from CreditCube is the astronomically high interest rates the company charges. For first-time customers, the maximum APR is set at 779.97%. At that rate, a $300 loan with 16 payments made every two weeks will cost you a total of $1,461.97 — you’ll pay a whopping $1,161.97 in interest in less than a year!
CreditCube also charges fees for late payments and insufficient funds, which could further jack up the cost of borrowing. Plus, loan limits can be restrictive. As a first-time customer, you can only borrow up to $500.
Its reputation is also questionable, with an F rating from the Better Business Bureau and a class action lawsuit pending in Illinois for deceptive lending practices. Even if you have bad credit, you likely have better options with lenders that accept less-than-stellar credit like CreditCube.
CreditCube alternatives
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To provide a Score, we compare like-for-like loans. So if you're comparing the best short-term loans for all credit types, you can see how each short-term loan stacks up against other short-term loans with the same borrower type, rate type and repayment type.
What makes CreditCube shine?
CreditCube’s application process seems to be fast and simple. You just create an account, complete an online application and verify your bank account, and you can be approved within minutes — without damaging your FICO score. Once your application is approved, funds could arrive in as little as one business day. Still, there are other less risky ways to borrow money fast.
CreditCube is also known for approving borrowers with less-than-stellar credit. If you’ve tried other lenders without success and need an emergency loan quickly, this option may work for you. Plus, CreditCube doesn’t charge any prepayment penalties, so you can cut back on total interest by paying your loan off early. But borrowers should still be wary, as this company sees bad ratings, has a pending lawsuit and charges extremely high interest rates.
CreditCube loan details
| Minimum credit score | No minimum credit score required |
| APR | 259% to 779.97% |
| Loan amount | $200 to $5,000 ($500 limit for first-time customers) |
| Terms | Short-term installment loan |
| Approval turnaround | As little as one business day |
| Availability | Not available in: Connecticut, Georgia, Illinois, Minnesota, New York, Pennsylvania, Vermont, Virginia, West Virginia |
| Fees | No prepayment penalties Late and NSF fees apply |
CreditCube contact information
| Phone number | 1-888-885-5646 |
| customer service hours | Weekdays, 7:00 a.m. – 6:00 p.m. ET |
| support@creditcube.com | |
| X, formerly Twitter | @Credit_Cube |
| @Credit-Cube |
How to qualify for CreditCube
To qualify for a loan with CreditCube, you need to meet the following basic criteria:
- Be at least 18 years of age or older
- Live in a state where CreditCube does business
- Have an active checking account
- Have a consistent source of income
- Have a verifiable phone number and email address
There is no minimum credit score required for CreditCube loans. The company states that it works with borrowers of all credit types.
How to apply
Applying for a CreditCube loan can be done completely online in just a few minutes. Here’s what you need to do:
- Create an account. Go to the CreditCube website, select the “Apply for a loan NOW!” button, then create an account by entering your name, email address and a password for the site.
- Fill out the application. Complete the application by providing your address, Social Security number, phone number, driver’s license number, date of birth, income, banking details, plus information about the loan you’re applying for.
- Review offers and sign the contract. CreditCube verifies your information, then presents you with a loan offer. Look over all the loan details and repayment schedule, then e-sign the contract online.
- Receive your funds. Once your loan has been approved, you can expect to receive funds within one business day.
CreditCube reviews and complaints
| BBB accredited | No |
|---|---|
| BBB rating | F |
| BBB customer reviews | 2.1 out of 5 stars, based on 40 customer reviews |
| Trustpilot Score | 3.9 out of 5 stars, based on 32 customer reviews |
| Customer reviews verified as of | 14 October 2024 |
Reviews on both the BBB and Trustpilot websites are mixed. There are more positive comments than negative on Trustpilot, with 62% of customers giving the company a 5- or 4-star rating. On the BBB website, the opposite is true — there are more complaints than compliments.
Happy customers comment on how easy it is to apply for a CreditCube loan and how fast they receive funds, which is especially helpful in an emergency. Several were thankful for the loan because no other lender would approve their application. Others commented that they appreciate the loyalty program and have taken out multiple loans with the company.
Unhappy customers complain about the high APRs that border on predatory lending. Many also warn readers that they should only use CreditCube loans as a last resort. Some take issue with the company because they were ultimately turned down for a loan.
What do people on Reddit say?
In another post where the OP was seeking a same-day loan for bad credit, a former CreditCube customer recommended the company. The commenter stated that CreditCube worked great, and they were able to quickly receive funds to cover an emergency expense. They also recommend paying the loan off early to save on interest.
Frequently asked questions
Is CreditCube a tribal lender?
Yes. According to the company’s website, CreditCube is wholly owned and operated by the Big Valley Band of Pomo Indians.
What kind of bank account do I need to get a CreditCube loan?
You can use any valid checking account that allows ACH debits and credits; prepaid accounts and savings accounts are not currently accepted.
Are military customers eligible for CreditCube loans?
No. Active duty military service members and their dependents are not eligible for CreditCube loans because of the Military Lending Act, which offers protections against predatory lending.
Is there a lawsuit against CreditCube?
Yes, CreditCube is facing a class-action lawsuit in Illinois. The lawsuit claims that CreditCube is not actually run by a Native American tribe but is using it as a way to bypass state usury laws and charge predatory interest rates.
Your reviews
Christi Finder
Contributor
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