Personal Loans » Compare Loans » LendingPoint vs Achieve vs Avant: Which Personal Loan Is Better?
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LendingPoint vs Achieve vs Avant: Which Personal Loan Is Better?

Achieve deals with relatively large loan sizes and also offers the likes of joint loans. Avant and LendingPoint are focused on people with lower credit scores and fast application process.
Author: Baruch Mann (Silvermann)
Baruch Mann (Silvermann)

Writer, Contributor

Experience

Baruch Silvermann is a financial expert, experienced analyst, and founder of The Smart Investor.  Silvermann has contributed to Yahoo Finance and cited as an authoritative source in financial outlets like Forbes, Business Insider, CNBC Select, CNET, Bankrate, Fox Business, The Street, and more.
Interest Rates Last Update: June 3, 2024
The banking product interest rates, including savings, CDs, and money market, are accurate as of this date.
Author: Baruch Mann (Silvermann)
Baruch Mann (Silvermann)

Writer, Contributor

Experience

Baruch Silvermann is a financial expert, experienced analyst, and founder of The Smart Investor.  Silvermann has contributed to Yahoo Finance and cited as an authoritative source in financial outlets like Forbes, Business Insider, CNBC Select, CNET, Bankrate, Fox Business, The Street, and more.
Interest Rates Last Update: June 3, 2024

The banking product interest rates, including savings, CDs, and money market, are accurate as of this date.

You can trust the integrity of our unbiased, independent editorial staff. We may, however, receive compensation from the issuers of some products mentioned in this article. Transparency is a core value for us, see how we make money.

In this Comparison

If you are in the market for a personal loan, there are plenty of great online lenders available for you to use. This guide is going to compare what the offerings at LendingPoint, Achieve, and Avant look like.

lendingpoint_logo svg
avant- logo SVG
freedom logo svg
APR Range The annual percentage rate (APR) is the total annual cost of borrowing money. This rate includes the interest rate as well as any additional finance charges. When you take out a personal loan, for example, you may be required to pay loan origination fees.
7.99% – 35.99%
9.95%-35.99%
8.99% – 35.99%
Term The term of your loan is the amount of time you have to repay it. For example, if you get a 24 months personal loan, the loan term is 24 months.
24 to 48 months
24-60 Months
24 to 60 months
Loan Amount
$2,000 – $36,500
$2,000 – $35,000
$5,000 -$50,000
Min Score
580
580
620

When LendingPoint Shines?

LendingPoint has the aim of providing borrowers with easy access to funds, dealing with lower credit scores and quick turnaround times.

LendingPoint personal loan can be a better choice than Avant and Achieve if you:

lendingpoint_logo svg
lendingpoint_logo svg

When Achieve Shines?

Achieve is a part of the Freedom Financial Network and has been providing personal loans since 2013. It mainly deals with people who have at least average credit and those who want relatively large loans.

Achieve personal loan can be a better choice than Avant and LendingPoint if:

FreedomPlus personal loan
FreedomPlus personal loan

When Avant Shines?

Avant is a lender that is based out of Chicago and deals with people who have lower credit and the lender also has a very good mobile app.

Avant personal loan can be a better choice than LendingPoint and Achieve if:

avant- logo SVG
avant- logo SVG

Requirements

A LendingPoint loan starts at $2,000 and goes as high as $36,500. In contrast to LendingPoint, Achieve has one of the biggest minimum loan sizes around at $7,500. Its max loan size reaches $40,000. Finally, you can get a loan from Avant worth between $2,000 and $35,000.

LendingPoint and Avant will deal with credit scores that are as low as 580. Achieve needs applicants to have a credit score of 620 or greater.

LendingPoint requires its applicants to have a debt-to-income (DTI) ratio of no more than 50%, with Achieve requiring a max DTI of 45%. Finally, you need a net income of at least $1,200 to get an Avant personal loan. Each of these three lenders needs applicants to be adults, as well as being a visa holder, resident, or a citizen of the United States.

LendingPoint - Pros & Cons

LendingPoint makes sure that its borrowers get quick access to borrowed funds, usually within 24 hours.

There are many ways that you can make your LendingPoint repayments.

You can quickly pre-qualify for a LendingPoint personal loan without needing to have a hard credit check completed.

You are able to change the due date of your payments, as well as decide if you want to pay bi-monthly, every 28 years, or monthly.

LendingPoint charges an origination fee of up to 10%, reducing the loan amount available to borrowers.

Limits options for borrowers who may benefit from additional support or collateral.

May limit the impact of on-time payments on credit scores if a lender checks a bureau not reported to.

Achieve - Pros & Cons

Achieve offers a joint loan discount, as well as offering a discount if you make direct pay deposits or have a certain retirement asset balance.

You can change the payment due date twice over the course of a year, as well as initially setting your preferred payment date.

Achieve aims to approve applications on the same day, as well as having the goal of sending funds within three business days.

Achieve is one of a few online lenders that allows you to get a joint loan.

There is an origination fee in place that can range from 1.99% to 6.99% on your Achieve personal loans.

Fees of $15 or 5% of the amount due (whichever is greater) may apply for missed payments, potentially increasing the loan cost.

The smallest loan that you can get with Achieve is $5,000, which is quite high.

Absence of a mobile app for loan management may inconvenience borrowers who prefer managing their loans on the go.

Avant - Pros & Cons

Avant has one of the best mobile apps in the space, allowing you to carry out all key functions when it comes to loan management.

You will be able to get direct support with your loan repayments if you lose your job.

You can get a personal loan from Avant if you have a credit score of just 580.

Avant makes sure to be speedy when reviewing applications, as well as aiming to provide funds to borrowers the next business day.

You will need to pay an origination fee of up to 9.99% at times with Avant personal loans.

Avant does not offer direct payment to creditors for debt consolidation loans, requiring borrowers to manage distribution of funds themselves.

There is no way for you to obtain a co-signed loan, joint loan, or secured loan with Avant.

Repayment Options

LendingPoint gives you the chance to alter your repayment due date. You can also decide if you want to make payments every two weeks, every 28 days, or once a month. LendingPoint does not allow you to send payments directly to your creditors and there is no autopay discount in place. Finally, there is no penalty if you make early repayments.

With Achieve and Avant, you can set your payment due date initially, as well as change it twice during the course of a 12-month period. You also get the option to send payments directly to creditors with Achieve. Neither Achieve nor Avant offers an autopay discount either, with Avant offering a refinancing option to borrowers.

Customer Experience

LendingPoint
Avant
Achieve
iOS App Score
4
4.5
N/A
Android App Score
N/A
3.6
N/A
BBB Rating
A+
A-
A+
WalletHub Rating
4.3
4.2
4.5
Contact Options
phone/mail
phone/mail
phone/mail
Availability
N/A
7 am – 10 pm (CST)
N/A

LendingPoint offers comprehensive financial resources but only reports payments to two out of three major credit bureaus. Their mobile app provides full loan management, and they hold an A+ BBB rank.

Achieve prioritizes lending over education, lacks a mobile app, and offers limited support hours. Despite an A+ BBB rating, Avant's accreditation was revoked due to government scrutiny.

However, they provide extensive customer support, transparent fee information, and a robust mobile app for loan management.

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Which Personal Loan is The Winner?

Achieve is an online lender that only deals with relatively large loan sizes and offers joint loans. Avant is focused on people with lower credit scores and places an emphasis on providing quick access to funds.

Finally, LendingPoint is an option that is similar to Avant in a lot of ways due to its acceptance of lower credit scores and fast application process.

lendingpoint_logo svg
avant- logo SVG
freedom logo svg
APR Range The annual percentage rate (APR) is the total annual cost of borrowing money. This rate includes the interest rate as well as any additional finance charges. When you take out a personal loan, for example, you may be required to pay loan origination fees.
7.99% – 35.99%
9.95%-35.99%
8.99% – 35.99%
Term The term of your loan is the amount of time you have to repay it. For example, if you get a 24 months personal loan, the loan term is 24 months.
24 to 48 months
24-60 Months
24 to 60 months
Loan Amount
$2,000 – $36,500
$2,000 – $35,000
$5,000 -$50,000
Apply Now
on Credible website
Apply Now
on Credible website
Apply Now
on Credible website

FAQs

LendingPoint does offer loan solutions for those who have less than ideal credit, so with a fair credit score of 600, you shouldn’t experience a credit score barrier.

However, you may not be able to access the lowest advertised rates, which are typically reserved for those with good or excellent credit.

LendingPoint does not advertise a rate matching service, but if you are shopping around for a loan, it may be possible to negotiate with this lender.

If you have prequalified for a better rate with another lender, but would like to go with LendingPoint, it is worth speaking to a member of the team. Just bear in mind that your LendingPoint loan may have an origination fee, which should be considered when you’re making comparisons with other lenders.

Avant specializes in lending products, so its product line is limited. In addition to personal loans, Avant’s only other product is a credit card. This card is designed for those who are looking to build their credit or keep their finances under control. It does not require a deposit and has no hidden fees.

 

One of the best aspects of Achieve is that they provide quick funding. The majority of customers will receive a lending decision the same day they submit their application, with funding available within three days of approval.

However, in some cases, Achieve may require additional supporting documentation to verify income.

More Lender Reviews

Compare Alternative Lenders

Each of these lenders caters to people with less-than-perfect credit. If you need funds quickly, LendingPoint is probably the best option, while Upstart is a good fit for people looking for small loans.

Finally, if you are looking for a joint loan or want to get some of the most competitive rates, LendingClub stands out.

Read Full Comparison: LendingPoint vs Upstart vs LendingClub: Which Personal Loan Suits You Best?

Avant is best suited for people with bad credit, whereas Upstart offers small loans and quick funding. Finally, Achieve is appropriate if you require a large loan or a joint loan. When compared to one another, each of these lenders has advantages and disadvantages.

Read Full Comparison: Achieve Vs Upstart Vs Avant: Choose The Right Personal Loan

LendingClub is a peer-to-peer online lending marketplace that prefers to work with people who have poor credit. The California-based company has over three million customers in the United States.

Avant is a Chicago-based lender that provides personal loans to people with bad credit. It also gives you quick access to funds as well as flexible repayment options. While OneMain is an online lender, it also has over 1,500 physical locations throughout the United States. This lender offers quick access to funds as well as a variety of loan options.

Read Full Comparison: OneMain Vs Avant Vs LendingClub: Which Personal Loan Suits You Best?

Picture of Baruch Mann (Silvermann)

Baruch Mann (Silvermann)

Baruch Silvermann is a financial expert, experienced analyst, and founder of The Smart Investor.  Silvermann has contributed to Yahoo Finance and cited as an authoritative source in financial outlets like Forbes, Business Insider, CNBC Select, CNET, Bankrate, Fox Business, The Street, and more.
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