FAQs

Q: What is an installment loan?

A: An installment loan is a loan that is repaid over time with a set number of scheduled payments.

 

Q: How will this benefit me?

A: You now have the opportunity to build traditional credit through an unsecured personal consumer loan.

 

Q: Why are there 12 payments and can I pay the loan off early?

A: Yes you can pay the loan off early with no penalties, however an installment loan is designed to be paid over time and it may be better for your credit score to pay the loan off over the life of the loan.

 

Q: What is the purpose of the loan?

A: The best Credit Scores are made up of different types of credit accounts; from auto loans, to home loans, to personal loans, and revolving loans like credit cards. Showing a history of well managed accounts is key to a high credit score. The rentchange loan is affordable, easily understandable, and is an excellent way to build that installment portion of a credit scoring model.

 

Q: How much does it cost to get started?

A: $15 set up fee. See Pricing Terms and Conditions Page.