Who is CreditShop?

CreditShop is a consumer lending company, headquartered in Austin, Texas. We are dedicated to providing consumers with convenient personal loans at fair prices. CreditShop loans are easy to apply for and easy to understand.

Who is Clarifi?

Clarifi is a nonprofit credit counseling agency that helps people achieve lifelong financial literacy. In their partnership with CreditShop, they’re providing financial education to help you make informed financial decisions. They can also help you find a credit counseling agency near you where you can meet with a counselor to get help with meeting your financial goals.

Based in Philadelphia, Clarifi is celebrating 50 triumphant years in 2016.

How is final loan approval and term information provided?

The loan terms and loan agreement will be presented on an approval confirmation page. You will also be notified by email and/or text message.

When will I get my money?

If your application is approved by 1:00 p.m. (EST), the funds may be deposited into your bank account the next bank business day. However, “next day hold” policies at some banks, requests for additional documentation by CreditShop, or other unforeseen circumstances could delay funds receipt.

How much will my loan cost?

The cost of your loan will depend on its size and your interest rate, both of which will depend on your creditworthiness and other factors. CreditShop’s interest rates range from 18% to 36%. The Annual Percentage Rate (APR), which reflects the total annual cost of credit, may be higher than the interest rate if a loan processing fee is charged. In some cases, we charge a loan processing fee that adheres to state-specific laws. If applicable, the loan processing fee ranging from $25 to $100 will be added to the loan amount. Interest will be charged daily on a simple interest basis. If you decide to pay your loan off early, there will be no pre-payment penalty.

How much may I borrow?

CreditShop loans generally range from $500 to $3,000. Your final loan amount will be based on your creditworthiness and other factors, including your state of residence, which may have specific requirements.