About BetterLoanChoice.com

Founded in 2001 and based out of Lewes, DE, BetterLoanChoice.com claims that they can help you with a wide range of loan types—anything from medical to business loans—all of which comes at no charge whatsoever.

BetterLoanChoice.com is not registered with the Better Business Bureau, but they are relatively active on social media, with more than 1,000 Facebook likes. Overall, most customer reviews appear to be positive—any that were not appear to have been quickly addressed by a BetterLoanChoice.com representative.

BetterLoanChoice.com Credit Scores

It’s important to note that, prior to submitting your loan application, BetterLoanChoice.com will request that you obtain a credit score from one of their partner companies, and then include this information in your application.

Based on the description on their website, these companies appear to be “credit monitoring services,” who will initially provide you with a free report, but will bill you monthly if you fail to cancel the service. With this in mind, if you do decide to obtain your credit report from one of these companies, make sure to cancel your subscription before the free trial expires.

How BetterLoanChoice.com Works

BetterLoanChoice.com is a free service that helps match you with lenders for the following types of loans:

  • Personal Loans
  • Motorcycle Loans
  • Medical Loans
  • Auto Loans
  • Computer Loans
  • Vacation Loans
  • Boat Loans
  • Business Loans

It’s important to stress that BetterLoanChoice.com does not actually provide you with a loan. Instead, the company matches you with a lender in their network that can best meet your needs based on factors such as credit rating, total loan amount, and so forth.

Before beginning, it’s recommended that you look at the different loan requirements by state, which can provide you with important details such as loan amounts and maximum APR, as well as handy tools such as a loan calculator.

To begin the application process, you’ll first enter your first and last names, email address, and zip on the BetterLoanChoice.com homepage. After clicking “Next,” you’ll be redirected to an area where detailed information can be entered, including driver’s license number, home ownership status, source(s) of income, employer information, and more.

After this information has been entered, simply press the “Apply Now” button, and BetterLoanChoice.com will forward your information to the lender(s) that can best meet your specific needs. One handy feature about the website is that if you have questions in the middle of your application, you can chat live with customer service personnel, without losing the information you’ve already entered.

According to the BetterLoanChoice.com website, you can expect interest rates that range anywhere from 6.5% to 36% for traditional loans, 353.23% to 2,737.50% for payday loans, and 199.44% to 448.76% for short-term loans, all of which are based primarily on your credit rating.

Bottom Line: Is BetterLoanChoice.com a Scam?

Based on our research, BetterLoanChoice.com does not appear to be a scam. Their website makes it fairly clear that they do not provide loans—only access to a wide variety of lenders—and that you may be sold additional services from third party companies in the process. In addition, the company seems to address any customer complaints in a quick, satisfactory manner.

With this said, BetterLoanChoice.com specializes in providing payday and cash advance loans to individuals with poor credit. These types of loans often carry extraordinarily high interest rates; so high, in fact, that most people end up repaying much more than their original loan amount. As a result, it’s best to stay away from these types of loans altogether, unless you have no other choice.

4 Customer Reviews for BetterLoanChoice.com

Average Customer Rating: 2.5
Rating Snapshot:
5 stars: 1 4 stars: 0 3 stars: 0 2 stars: 1 1 stars: 2
Bottom Line: 25% would recommend it to a friend
Showing 1-4 of 4
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  • 1 out 2 people found this review helpful

    Scam

    • Rochester, NY,
    • Jun 13, 2015

    I'm sorry but when I have to pay money to get my own credit score to get approved that is not right. Then those companies conveniently bill you a few times before they acknowledge your cancelation.

    Bottom Line: No, I would not recommend this to a friend

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    • Jun 23, 2015

      George

      Susan,

      Thank you for your feedback. We do not require you to pay for anything. The credit monitoring offer is optional, which the credit score page states multiple times. Our partner processes cancelations immediately, they do not bill multiple months. You signed up recently so you wouldn't even have the opportunity to observe that behavior, even if it were true.

      At the end of the day, we cannot help everyone, and people get frustrated when they can't get a loan. They start throwing around words like scam, ignoring the fact that we are A+ rated by the BBB (very rare in our industry) and help literally hundreds of people get a loan every day.

      I am truly sorry that we were unable to help you, and wish you all the best.

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  • 9 out 16 people found this review helpful

    They won't talk to respond to you. Terrible Service!

    • Anniston, Alabama,
    • Sep 9, 2014

    I applied for a small loan and they are trying to take 17 dollars out a month for credit reports that I do not want and no one will answer the phone for me to cancel so I am canceling now the monthly credit checks that I do not want. thanks for nothing!

    Bottom Line: No, I would not recommend this to a friend

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    • Sep 18, 2014

      George

      Thank you William for your feedback. Our call center takes calls from 9am to 5pm, Monday to Friday. We also have chat and email support.

      We do not charge anything for our service. If you signed up for the optional credit monitoring service, you must contact the company that you signed up with, we cannot cancel that service for you.

      I am sorry that you had difficulty connecting with somebody in customer service, I wish we could have been more accommodating to your issues.

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  • 15 out 18 people found this review helpful

    Great options - did exactly what they said

    • Orlando, FL,
    • Aug 18, 2014

    I read the first review before I applied so I was worried about the process but after I got my loan I wanted to come back here and write my own comment.

    Betterloanchoice says that they are a loan matching service, and not a lender. This is exactly what they did for me. I did not find that a waste of time. I did apply at some other places, that all claimed to be able to connect me with real lenders 24/7, but all they did was pitch me payday loans.

    I got a loan, and got to choose who I went with. I am very happy with the process and would highly recommend these guys to anyone who is looking or a loan.

    Bottom Line: Yes, I would recommend this to a friend

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    • Aug 25, 2014

      Jackie

      Who did you go with?

    • Sep 3, 2014

      Martin

      I had an offer from Avant Credit and Springleaf. I went with Avant.

    • Sep 18, 2014

      George

      Martin, Thank you for the review. We appreciate it and are happy that you were able to get a loan through us!

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  • 23 out 32 people found this review helpful

    Complete Waste of Time

    • Long Island, NY,
    • Jul 15, 2014

    I was looking for a small personal loan (less than $1K) with an average credit score.

    I entered all the information requested, and was given a notification that I "pre-qualified" for a loan.

    So with that in mind, I went through the whole process of providing all my information. When I was directed to the "lender" whom they had matched me with...it was another credit website!

    So this new website wanted me to pick from different lenders to "apply" for a loan!

    I'm sorry, but I already went through that whole ordeal.

    A complete waste of time and for that reason I'm moving on to someone else.

     

    Bottom Line: No, I would not recommend this to a friend

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    • Sep 18, 2014

      George

      There is no Ren Zelaya in our system. This sure sounds a lot like the fake reviews that some of our competitors put out there. When competitors can't beat you, they try to copy you. When they can't copy you, they leave fake reviews. If you have any questions about our service please check out our verified reviews on Ekomi, or call/chat/email directly with us.

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