Bad Credit Loan Review for Truliant Federal Credit Union

Truliant FCU Financial Terms In a Glimpse

Loan Amounts	$500 - $35,000 on personal loans
Term Length	6 months to 72 months
Loan Rates	8.49% to 15.74% APR
Min. Credit Score	N/A
Better Business Bureau Rating	A+
Time to Funding	N/A

Truliant FCU Highlights

Truliant FCU's community involvement is strongly felt and seen in areas where most members reside and work. It also provides seminars to educate people about financial management. Examine the features below and decide whether this is the lender you need.

Pre-qualify with Soft Credit Pull

For new account applications, a pull credit is required by Truliant FCU. This is to verify your identity and the facts that you declared. By doing this, your credit score will not be damaged. Truliant FCU offers a no-cost credit review in order to give you a detailed report about your financial stability.

High Debt to Income Ratio Allowed

The maximum debt to income ratio was not specified on the website. But to ensure you get fast approval, many banks and credit unions require 36% and below.

Line of Credit

Lines of credit are available at Truliant FCU but are subject to credit approval. Members can get up to $20,000 with a fixed rate of 10% APR for a term of 72 months. Rates are subject to change.

Credit Health Tools

There are several online tools and resources that you can access from its website. It includes highly informative articles that teach you how to manage your finances and how to save up. It also provides loan, savings, and business calculators to help you track your monthly payments and interest rates. Moreover, you can check your credit score for free through its no-cost review feature. It also has a program called get cash back wherein you earn rewards by purchasing items using your debit card. Digital banking is also available.

Hardship Programs

A skip-a-pay program is offered to members who need financial breathing room from paying their loans. However, it only allows one skipped payment per calendar year.

No Prepayment Penalty

There are no associated prepayment penalties with the loans it offers. Hence, you can pay off your loans anytime you want without incurring extra charges.

Unsecured Loans

Only secured loans are offered by the company at present.

Truliant FCU Fees

There are no fees involved if you want to become a member, open savings account, or apply for a loan. But several fees and service charges can be expected such as late payments. For a complete list of all the fees, information is available on the website.

How to Qualify

Both members and non-members can apply for a loan. In order to submit your loan application, just head on to its website and select "Apply for a Loan" and complete the process. You can also speak with its loan officers over the phone or visit one of its locations. It is more recommended to become a member, though, before applying for a loan to receive lower interest rates.

The Bottom Line

While the Trulian FCU is one of the biggest credit unions in Virginia and Carolina states, it offers higher rates compared to other companies. It is also not clear whether people who have higher loan risks due to their credit scores will be approved for loans. Hence, if you are looking for more options that give consideration to people with bad credit, check out Vylla and Navy Federal.