Achieve Personal Loans Review 2023

Our experts answer readers' personal loan questions and write unbiased product reviews (here's how we assess personal loans). In some cases, we receive a commission from our partners; however, our opinions are our own.

Who Are Achieve Personal Loans Best For?

Achieve Personal Loan - Editorial Name Only is best for borrowers who want to take out a moderate to sizeable amount of money, as the lender has high minimum loan amounts, but also a high maximum. The lender is also particularly attractive to those who may want to apply with a co-borrower to get a better rate, as some companies don't allow co-borrowers.

However, borrowers who want a smaller loan amount will have to go elsewhere, as you must borrow a minimum of $5,000 with Achieve. Additionally, you may be able to avoid origination fees, which add to the overall cost of your loan, with another lender. 

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Achieve Personal Loan Details

Achieve, formerly known as FreedomPlus, isn't available in all states — you aren't able to get a loan in Colorado, Connecticut, Hawaii, Kansas, Maine, North Dakota, Vermont, West Virginia, Wisconsin, and Wyoming. Its loan range is between Achieve Personal Loan - Loan Amount Range. The company's APR ranges from Achieve Personal Loan - Regular APR.

Achieve personal loans offer fast funding and you'll get your money within one to three business days. The lender does have fees — you'll fork over an origination fee between Achieve Personal Loan - Origination Fee and a Achieve Personal Loan - Fees Display. Achieve has a minimum credit score of 620. 

Achieve Personal Loans Pros and Cons

How to Apply for Achieve Personal Loans

1. Check your rate. Achieve allows borrowers to prequalify for its loans by applying through its website. That means you'll be able to get your rate without impacting your credit score. You'll need to input your name, email address, state of residence, desired loan amount and purpose, and other information.

2. Look over your loan offerings and choose the one that makes sense. After you submit your initial information, Achieve will send you potential loan terms. A shorter term length means bigger monthly payments — but you'll save more in interest. You'll need to send in a formal application, which may also require additional documents, like W-2s, pay stubs, or bank statements. 

3. Confirm your loan terms and plan for repayment. After you sign the document accepting your loan terms, your loan will be approved and funded within 72 hours. Make sure you've added your loan payments into your budget. 

Read more: Loans for no credit.

Achieve Personal Loans Frequently Asked Questions

Is Achieve legit?

Achieve is a legitimate personal loan lender with an A+ rating from the Better Business Bureau, which evaluates companies based on their response to customer complaints, honesty in advertising, and openness about business practices. 

How long does Achieve take to approve personal loans?

Achieve takes about two to three hours to make a personal loan approval decision, per the company's website. 

Does Achieve report to credit bureaus?

When you apply for a personal loan with Achieve, the company will conduct a soft credit inquiry. This allows it to get a comprehensive view of your credit history without impacting your credit score. After you accept your loan's terms, the company will perform a hard credit pull, which may have a negative impact your score.

What credit score is needed for an Achieve personal loan?

Achieve has a minimum credit score of 620 to qualify for a personal loan.

Does Achieve have any origination fees?

Achieve charges an origination fee between 1.99% and 6.99% on its personal loans.

Is Freedom Financial the same as Achieve?

Achieve Personal Loans is a subsidiary of Freedom Financial Network Funding, LLC, which provides consumer credit and financial advocacy services.

Compare Achieve Personal Loans

Achieve vs. Upstart

Both Achieve and Upstart Personal Loan - Editorial Name Only allow borrowers with poor credit to get approved. For borrowers who meet their minimum credit score requirements of 600, this lender could have an advantage with a wider range of interest rates and higher loan amounts.

Upstart's personal loans can have origination fees Upstart Personal Loan - Origination Fee, while the origination fee on Achieve loans ranges from Achieve Personal Loan - Origination Fee.

Achieve vs. LendingClub

While Achieve has a clearly defined minimum credit score of 600 to apply for a loan, LendingClub Personal Loan - Editorial Name Only is a little vaguer on requirements. 

LendingClub charges an origination fee between between LendingClub Personal Loan - Origination Fee of your total loan amount. The origination fee on Achieve loans ranges from Achieve Personal Loan - Origination Fee.

Why You Should Trust Us: How We Rated Achieve

We rate all personal loan products in our reviews and guides on a 1-5 scale. The overall rating is a weighted average that takes into account seven different categories, some of which are judged more heavily than others. They are:

• Interest rate (20% of rating)
• Fees (20% of rating)
• Term lengths and loan amounts (15% of rating)
• Funding speed (15% of rating)
• Borrower accessibility (15% of rating)
• Customer support (7.5% of rating)
• Ethics (7.5% of rating)

Each category's weighting is based on its importance to your borrowing experience. Rates and fees have the most direct impact on the overall cost of your loan, so we weigh those the most heavily. Customer support and ethics are still very important parts of the borrowing experience, but do not directly tie to a personal loan's terms, so they have less of an impact on the overall rating. 

See more on how we rate personal loans >>