About BetterLoanChoice.com

By HighYa Research Team
Published on: Nov 20, 2013

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 has an A+ rating with the Better Business Bureau (as of April 19, 2018), and are relatively active on social media.

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.

Sign Up for HighYa Newsletter

Sign up for HighYa newsletter and get our best content delivered in your inbox as well as 3 free eBooks to help you save money and shop smarter. Enter your email below to get started!


Read 9 BetterLoanChoice.com Customer Reviews and Complaints

Write a Review
Average Consumer Rating: 1.4
Rating Snapshot:
5 star: 1 4 star: 0 3 star: 0 2 star: 0 1 star:  8
Bottom Line: 11% would recommend it to a friend
Showing 1-9 of 9
Sort reviews by:

  • 9 out 10 people found this review helpful

    The service was good considering the automated system.

    Service could have been just a little more, but everything was good.

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

    Help others find the most helpful reviews

    Was this review helpful?

    yes no

  • 42 out 46 people found this review helpful

    Not what I asked for

    • Hawaii,
    • Apr 12, 2016
    • Verified Reviewer

    Took forever to fill out tons of personal info, which I had to repeat when I was finally transferred to the lender that they found. Only to be transferred to a second one, then a third. Last one had a max of $500 on the amount they could loan and it was a payday loan! Both of which was not what I requested when I initially applied. Was a complete waste of time.

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

    Help others find the most helpful reviews

    Was this review helpful?

    yes no

  • 49 out 52 people found this review helpful

    Scam

    • Eugene,
    • Dec 27, 2015

    This is a waste of time. You give them all your previous personal info, they say you are pre-approved. But wait, first you have to buy your credit score before they can "finish". Next, you get re-directed to a lender where you once again give all your personal info which then directs you to another lender.

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

    Help others find the most helpful reviews

    Was this review helpful?

    yes no

  • 56 out 63 people found this review helpful

    Feeling like an IDIOT

    • New Jersey,
    • Dec 12, 2015
    • Verified Reviewer

    Can't believe I gave these people my information. Not only did I completely waste my time but I believe I may have opened myself up to identity theft. UGH!

    They advertised no payday loans and what was I directed to... a payday loan. Why would they ask for all my information, including drivers license, bank name and account if they aren't acting the ones supplying the loan?

    Will be reporting this to my bank and monitoring all accounts closely. God I feel like such an idiot.

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

    Help others find the most helpful reviews

    Was this review helpful?

    yes no

  • 43 out 46 people found this review helpful

    Scam

    • Edgewater, NJ,
    • Nov 13, 2015

    It's a scam! They "pre-approve" you and tell you that you have to register with credit repair so that they can "finish" the process. After credit repair charges you, you then have to fill out your application again and then get matched and directed to more lending sites. Each of them is the same again, fill out form and you are redirected to another lender. After an hour still giving "lenders" my personal information I figured that this is how identity fraud happens. And you really can't keep track of the many times you get redirected! But I don't have a loan and yet, there are a lot of sites with all my info. Scary. Never again.

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

    Help others find the most helpful reviews

    Was this review helpful?

    yes no

  • 31 out 35 people found this review helpful

    Horrible

    • Tipton, IN,
    • Oct 28, 2015

    It sucks and is a scam. Do not use it. No one answers the phones for info and never call back.

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

    Help others find the most helpful reviews

    Was this review helpful?

    yes no

  • 27 out 32 people found this review helpful

    Absurd and Abuse

    • Bayonne NJ,
    • Oct 8, 2015

    This company takes advantage of people who want loans. People who want loans need money. They charge them to know their credit score before anything. Then nothing. Fraud and Abuse.

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

    Help others find the most helpful reviews

    Was this review helpful?

    yes no

  • 36 out 41 people found this review helpful

    Scam

    • Rochester, NY,
    • Jun 17, 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

    Help others find the most helpful reviews

    Was this review helpful?

    yes no

  • 45 out 56 people found this review helpful

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

    • Anniston, Alabama,
    • Sep 10, 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

    Help others find the most helpful reviews

    Was this review helpful?

    yes no

Showing 1-9 of 9

Write a Review for BetterLoanChoice.com!

Share your experience to help others shop smarter & discover great products.

Write a Review