WithU Loans: Fast, Expensive, Bad Reviews
WithU Loans isn't available on Finder right now.
- Max. Amount
- $2,500
- Turnaround time
- As soon as the same day
Our verdict
This lender offers fast funding, but it has triple-digit APRs and poor reviews.
WithU Loans is a tribal lender offering loans up to $2,500 to borrowers in 39 states. Depending on when your loan is finalized, you could receive your funds the same day you apply, or you may have to wait until the next business day. WithU admits to being an expensive form of funding and recommends that borrowers seek credit counseling before applying. It charges rates in the neighborhood of 500%, and it may debit your account early if your payment date falls on a weekend or holiday, potentially resulting in fees for insufficient funds.
Best for: Borrowers who don’t qualify for other loans and can afford to repay the money quickly.
Pros
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Fast funding
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No prepayment penalties
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Recommends credit counseling before applying
Cons
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Rates of 500% or more
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Requires bi-weekly payments
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May debit your account before your payment date
Is WithU Loans legit?
WithU Loans is a real tribal lender owned by the Otoe-Missouri Tribe of Indians, and it’s based in Oklahoma. It offers loans to borrowers with poor credit, but at rates of 500% or more, it’s preying on people who are desperate for quick funding.
WithU also has an alert on the Better Business Bureau (BBB) site due to a pattern of complaints. Because of the large volume of complaints, the BBB underwent an investigation in July of 2022 and contacted WithU requesting answers to a list of questions. To date, WithU Loans has not responded to this request.
For these reasons and more, we can’t recommend this lender unless you have absolutely no other options. And, if you must take out a WithU loan, it’s in your best interest to pay it off as quickly as possible so you don’t end up repaying five times what you borrowed.
Where WithU Loans falls short
There’s nothing to like about WithU Loans interest rates or the fact that it doesn’t transparently disclose them on its site. However, it does give an illustration of a sample loan of $1,000, with 26 bi-weekly payments of about $221. This payback amount comes to a total of $5,760, at a rate of roughly 597.36%. Customer reviews also confirm that rates are around 500%. There are likely better loan options that cater to borrowers with bad credit and even some that don’t require credit checks.
And, a word of warning to borrowers: In its FAQ section, it reveals that if your normal payment date falls on a holiday or weekend, WithU withdraws your payment one business day early. This practice is in sharp contrast to other lenders, which will typically pull your payment on the following business day to avoid the chance of insufficient funds. You can probably avoid this issue by paying early if that situation arises, but you’ll need to keep vigilant.
Alternatives to WithU Loans
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What makes WithU Loans shine?
There’s not a lot to love about WithU loans, except that it offers fast funding for borrowers in an emergency. Plus, it doesn’t charge prepayment penalties, so if you repay the loan quickly, you can come out the other side relatively unscathed. Still, there are emergency loans with much lower rates.
Also in its favor, it recommends that borrowers get credit counseling before applying for a loan, because it admits this is an expensive form of funding and shouldn’t be considered a long-term financial solution.
However, we still can’t recommend a company that is largely targeting borrowers who probably don’t have the means to repay the loan fast. If possible, seek out almost any other option before resorting to this lender.
WithU Loans product details
| Minimum credit score/credit range | Not stated |
| APR | Around 500% to 600% |
| Loan amounts | Up to $2,500 |
| Terms | Not stated (likely about 12 to 13 months) |
| Approval turnaround | As soon as the same day |
| Availability | Not available in: Arkansas, Connecticut, Florida, Georgia, Maryland, New York, North Carolina, Pennsylvania, South Carolina, Vermont, Virginia, West Virginia |
| Fees | $20 late fee Undisclosed NSF fee |
| Other fees | Unknown |
WithU Loans contact info
| Phone number | 866-404-0674 |
| Customer service hours | Weekdays: 7 a.m. to 8 p.m. CT Saturday: 7 a.m. to 4 p.m. CT |
| customercare@withuloans.com | |
| X, formerly Twitter | @withuloans |
| N/A |
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How to qualify for WithU Loans
The requirements to qualify for WithU loans are as follows:
- Be at least 18
- Have a verifiable bank account in good standing
- Get paid by direct deposit
- No current, pending or previous bankruptcies
- Live in a state WithU services
- No active military members or dependents of active members
You can’t apply for a loan if you currently have one in repayment or if you’ve previously had a loan that has a default or charged-off status.
How to apply
WithU loans doesn’t go into much detail about applying, but the process seems to go like this:
- Fill out the online application.
- Wait for verification of your banking and personal information.
- Read over your loan offer, and if you agree, formally apply with a hard credit check.
- Review and sign your agreement if you’re approved for a loan and wait for your funds to be deposited.
WithU Loans reviews and complaints
| BBB accredited | No |
|---|---|
| BBB rating | F |
| BBB customer reviews | 1.06 out of 5 stars, based on 249 customer reviews |
| Trustpilot Score | 4.2 out of 5 stars, based on 4,837 customer reviews |
| Customer reviews verified as of | 08 November 2024 |
WithU Loans has very poor reviews on the BBB site, with only 1.06 out of 5 stars and an F rating. Customers complain of exorbitant interest rates, problems with customer service and billing issues, among others. Many borrowers say they feel they were rushed through the loan process and misled about the terms.
Surprisingly, WithU appears much better on Trustpilot, with 4.2 out of 5 stars. Positive reviews express gratitude for being approved for a loan when they couldn’t get one anywhere else. They also praise the friendly customer service, fast and easy loan process and quick funding. Negative reviews say the lender charges predatory rates and takes advantage of people in a vulnerable financial situation. At least one reviewer suggests that some of the positive reviews are clearly fake.
What do people on Reddit say?
But a few say that it’s not the worst move you can make as long as you can pay it back as soon as possible, to avoid paying all that interest. One Redditor said they’re on their second loan, and the rate on this loan was half what was charged on the first loan.
Your reviews
Lacey Finder
Writer
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