Brighten Loans Review 2021 | Pros and Cons

Brighten Loans Review 2021 | Pros and Cons

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Loan Ammount
$100 - $5,000
Loan term
Depends on the lender
Min. credit score
Est. APR
Up to 300%
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5.8/10 (Expert Score)
Product is rated as #21 in category Reviews on Payday Loans
Having a place where you can secure advance cash fast when you’re in need is a great thing. But you usually can’t get this type of service from banks and financial institutions. This leaves you with options like financial loan platforms like Brighten Loans. Yet, this puts you at risk of falling victim to fraud and scams. If you intend to use a platform like Bright Loans, then you must learn all you can about it first.
Customer Experience
5
Affordability
7
Availability
5.5
PROS:
  • It is fast and easy to use.
  • The website carries an SSL certificate. This assures you you’re dealing with the right provider.
  • It is reliable for getting small loan amounts.
CONS:
  • May compromise your personal information.
  • The platform is almost impossible to contact.

Editorial Note: This content is not provided or commissioned by any financial institution. Any opinions, analyses, reviews, or recommendations expressed in this article are those of the author alone and may not have been reviewed, approved, or otherwise endorsed by the financial institution.

Company (Lender) Loan Amount Loan term Min. credit score Est. APR Funds available in
brighten loans $100 to $5000 Determined by the lender None Up to 300% 24-48 hours


What is Brighten Loans?

BrightenLoans is a connection service platform that links you with a lender. The platform itself doesn’t collect a fee for the service it offers. But, it does charge your lender, and this might affect you. Depending on state laws, you may find yourself paying interest rates above 300%. Before using the platform, you should look through its privacy policy. The same thing goes for the terms of service. Both outlines are clear and concise. Still, it doesn’t assure you that your personal information will remain confidential.

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Is Brighten Loans Legit?

Brighten Loans

Brighten Loans

The platform does, in fact, provide the services that it claims to. But beyond that, much isn’t known about them and how they operate. First, they have limited contact information. Also, they lack any presence on high-authority customer review platforms. While this doesn’t mean that their services are poor, you have no idea what to expect from them. Also, it infers that you are on your own should a problem present itself after you’ve taken the loan.

The Best Way to Deal With Absence of BrightenLoans Customer Reviews Concerns

Note that lack of customer reviews isn’t unique to Brighten Loans. It is a problem that the vast majority of connection service platforms share. As a result, this metric alone isn’t enough to pass judgment. Still, reviews are important. One approach you can take here is this. Once you’re linked with a lender, don’t proceed with the transaction until you’ve researched them. Usually, these lenders tend to have a stronger online presence. Due to this, you can get a better idea of who exactly you’re dealing with.

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Brighten Loans Fees and Rates in 2021

This personal loan aggregator allows you to borrow $100 to $5,000. According to their terms of service, they do not charge the borrower for using their service. All they do is connect you to a willing lender and then back out. The only problem with this is that it leaves everything to the discretion of your lender. Your lender handles setting the loan APR, repayment options, and other variables. How high your interest rate goes is also influenced by the state you’re taking the loan in. Some lenders can raise their interest rate as high as 300% or more. To ensure you don’t get in over your head, make sure you go over the loan agreement before proceeding.

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The Conditions of Service Provision

Do NOT gloss over the details provided here. They might be all you need to determine whether BrightenLoans is for you or not. The terms of service they offer have a strict arbitration clause. So, do not proceed if you can’t handle that. Your actions with any loan you take here have far-reaching effects as they can affect your credit score. To apply for a loan, details you have to provide include; Your date of birth, Social security number and driver’s license number, Your Bank account number, and Your monthly income. After this, you can place a request to connect with a lender. You would have to release other personal information at this stage. Next, you’re linked to a willing lender. You then proceed to complete the rest of your application on their platform.

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The Verdict

Their service is convenient and great on a lot of levels. But, a lack of transparency makes BrightenLoans difficult to trust completely. Also, information isn’t provided on their network of lenders. And because you can’t contact them, there’s no way they can come in if something goes wrong. If you must use this platform’s service, ensure you do so with caution.

Terms: Brighten Loans Review 2021 | Pros and Cons

Est. APR Up to 300%
Funds available in 1 - 2 business days
Loan amount $100 - $5,000
Loan term Depends on the lender

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Brighten Loans Review 2021 | Pros and Cons
Brighten Loans Review 2021 | Pros and Cons

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