How it Works
Verify Your Identity & Submit Income Information
Provide Permissions for Us to Review Your Credit Report
Review Loan Terms & Accept Your Loan, If Approved
Frequently Asked Questions
Who is Credit Shop?
Credit Shop is a consumer lending company, headquartered in Austin, Texas. We are dedicated to helping millions of creditworthy Americans who may be paying too much for credit. We work to make Credit Shop loans easy to apply for and easy to understand.See Answer
How will I know if my request for a loan has been approved?
If your loan is approved, 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.See Answer
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 Credit Shop, or other unforeseen circumstances could delay funds receipt.See Answer
How much will my loan cost?
The Annual Percentage Rate (APR) is the cost of credit as a yearly rate and ranges from 19.9% to 36%. In some states, we may charge a loan processing fee or account set-up fee ranging from $25 to $100 when we establish a loan. If a loan processing fee or account set –up fee is charged, it will be clearly disclosed to you before you accept your loan and will be reflected in your APR. If you decide to pay your loan off early, there is no pre-payment penalty.See Answer
How much may I borrow?
Credit Shop loans generally range from $1,000 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.See Answer