Is CreditNinja a legit company (2024)

FAQs

Is CreditNinja a legit company? ›

CreditNinja is a reputable and trustworthy online lender, offering personal installment loans to borrowers in need.

Credit Ninja is a secure website that allows consumers to apply for online personal loans. Since 2018, Credit Ninja has been helping borrowers across the nation access fast emergency cash for all types of unexpected expenses.

Bank verification is used by lenders to prove that the borrower is who they claim to be and to verify the activity in the borrower's account. Lenders typically rely on other companies, like Quovo or Yodlee, to perform bank verifications.

Direct lenders can be banks, nontraditional lending institutions, or the government. CreditNinja is also a direct lender.

So while we do check aspects of your credit history, it's not the only thing we consider when reviewing your application. One of the most important things we consider is each borrower's specific ability to repay a loan. If your credit score is lower than average, getting a loan may be a struggle in some cases.

CreditNinja's site says it will then do a soft credit check to verify your eligibility for a loan, meaning it won't affect your credit scores.

CreditNinja offers safe and responsible personal loan products. We're here to provide you with the most reliable and immediate financial support when you need it.

CreditNinja does not offer online payday loans but does offer an online personal loan even if you have bad credit.

CreditNinja does report payments to an alternative credit service called Clarity. Much like the regular credit bureaus, Clarity tracks borrower's credit information and provides them with a score based on how financially trustworthy they are.

Direct deposit is a superior payment method, and that is why we at CreditNinja use it to fund your loans. You can start your application today, and if approved, your funds will be deposited into your checking account the following business day after approval.

How much can you borrow from CreditNinja? ›

Generally, we offer unsecured loans up to $5,000.

Income Verification

The list of acceptable income documents varies by lender, but typically applicants use weekly or biweekly paycheck stubs. If you are unemployed or do not receive recurring income, know that you may still qualify for a loan if you can show proof of your ability to make monthly payments.

Additionally, the credit account may be sent to a collection agency, and the borrower could be taken to court as part of the agency's effort to collect the debt.

The annual percentage rate simplifies your borrowing process. APR helps you understand the actual rates that apply to your agreement. APR is like a guide for comparing different credit offers. Remember that some costs and fees will not be included in the APR, so remember to be careful and ask questions.

Spotloan Reviews

On the Better Business Bureau's website, Spotloan has a rating of 1.45/5 stars. The company also has over 22,000 reviews on Trustpilot. Their average rating is 4.4. However, one thing to note is that Trustpilot allows companies manually to invite customers to write reviews.

CreditNinja is here to provide a safe and reliable option for borrowers struggling with low credit. Rates and longer repayment terms are designed to help you in times of need. CreditNinja gives borrowers options for larger loan amounts, competitive rates, and longer repayment periods than many other online lenders.

A NINJA loan is extended with no verification of a borrower's assets. NINJA loans largely disappeared after the U.S. government issued new regulations to improve standard lending practices after the 2008 financial crisis.

If approved for a CreditNinja loan, you may get your money as soon as the same day, or the next business day.

A NINJA loan is a “no income, no job, no assets” loan. NINJA loans are made when lenders do not independently verify that borrowers have the income and assets they claim. They were once common in the mortgage industry before the 2008 financial crisis, but regulations have made them more difficult to obtain.

Generally, we offer unsecured loans up to $5,000.