Reprise Financial Personal Loans Review 2024

Pros Explained

• Fast funding: Once you are approved for a Reprise Financial loan, you should get your funding the next day. If all goes well with your application, that means you can access  money in 24 hours or less.
• Strong customer reviews: When considering online lenders you may not have heard of before, reputation is important. Reprise Financial seems to have a good one, according to thousands of customer reviews on sites like TrustPilot and the Better Business Bureau.
• You don’t need perfect credit: Reprise Financial works with all types of borrowers and offers a secured loan option for some.

Cons Explained

• Self-employed people are not eligible: If your primary source of income comes from self-employment, such as a sole proprietorship, you will not qualify for a Reprise Financial loan.
• Only available in 30 states: Reprise Financial is not as widely available as some other borrowers that have coverage across the entire nation.
• Loan details are not disclosed: To find out rates and other loan details, you’ll have to fill out the pre-qualification form.
• Maximum loan amount is lower than some lenders offer: Borrowers can only get up to $25,000 with Reprise Financial, which is lower than other lenders may offer. Some lenders offer personal loans for up to $100,000.

Types of Personal Loans Offered by Reprise Financial

Reprise Financial offers personal loans for a number of purposes, including:

• Credit card debt
• Debt consolidation
• Dental expenses
• Engagement rings
• Large purchases
• Medical expenses
• Moving expenses
• Special occasions
• Vacation and travel
• Weddings

You can use personal loans from Reprise Financial for just about any reason. According to Investopedia’s 2023 Personal Loan Borrower survey, the top reasons people take out a personal loan are to consolidate debt, fund a home renovation, and make major purchases.

However, there are a few exclusions for how you can use a Reprise Financial personal loan. They include post-secondary educational expenses; to fund any illegal activity; for purchasing or carrying any securities; for investing, trading, or speculating in cryptocurrencies or digital currencies; or for business purposes.

Loans are unsecured, but there are some instances in which Reprise Financial may offer a secured personal loan. For those, your vehicle will be used as collateral. You’ll have to send photos of your car and it can’t be more than 20 years old, leased, or have a salvaged title (including vehicles titled as rebuilt, restored, manufacturer buyback, or flood damaged).

Time to Receive Personal Loan Funds

Once your application is approved, you will be able to receive your loan funds by the next day in most cases. 

Borrower Requirements

To qualify for a loan from Reprise Financial, you must meet the following criteria:

• Be a United States citizen or resident with an address in the United States
• Submit a state-issued driver’s license, state identification card, or United States passport
• Be the age of majority in your state, generally 18 years old
• Have not obtained more than two loans with Reprise in the last 12 months
• Be employed or have sufficient income from other sources
• Credit minimum is not disclosed, but Reprise works with individuals who don’t have strong credit.

Reprise Financial Personal Loan Features

Reprise Financial does not share specifics about its loan programs, such as if it offers unemployment protection or allows you to change your due date.

Co-Signers and Co-Applicants

Reprise Financial does not specify if it allows co-signers or co-applicants.

Can You Refinance a Personal Loan With Reprise Financial?

Reprise Financial will refinance credit card debt, but doesn’t specify if it allows you to refinance a previous loan you have with the company. 

Customer Service

You can contact the company by phone six days a week or send a message via an email contact form. There is no chat function or X (formerly Twitter) presence, however.

Customer Satisfaction

Reprise Financial has strong customer ratings, earning a Trustpilot average rating of 4.6 out of 5. It also has an A- rating from the Better Business Bureau, with no recent regulatory actions.

How to Qualify For and Apply For a Reprise Financial Personal Loan

1. Fill out the pre-qualification form. Just click the “get started” button on the homepage, then follow the prompts to get a rate quote.
2. See your offers. You’ll get your pre-qualified loan offers in a few seconds and can decide if you want to move forward with the personal loan application.
3. Apply for the loan. You’ll have to share your personal and financial information, including your photo ID, Social Security number, and current address. Reprise will perform a credit check.
4. Review loan offer. If you are approved, look over the loan terms carefully to decide if it’s a good option for you. If so, sign the loan agreement and accept the loan. 
5. Receive your funds. Reprise Financial funds loans within one day of approval.

Other Banking Services and Loans Offered by Reprise Financial

Reprise Financial only offers personal loans. It does not offer other financial products like mortgages, credit cards, home equity loans, or student loans.

Compare Reprise With Other Personal Loan Lenders

The Bottom Line

Reprise Financial offers a simple online application and fast funding, and could be a good option for people who have limited or fair credit and live in one of the 30 states the company operates in. While it can raise suspicion when few details or specifics are offered, the fact that Reprise Financial has strong customer reviews does help. Be sure to shop around, however, since the lender probably doesn’t have the best personal loans out there.

How Long Does It Take to Get Money From Reprise Financial?

Reprise Financial offers funding the next day after loan approval. If you are approved for a Reprise Financial loan, you can generally expect the funds to arrive in your account within 24 hours.

What Credit Score Do You Need for a Reprise Loan?

Reprise Financial does not disclose a minimum credit score, but it does state that it works with borrowers who might not have the best credit.

Does Reprise Require Collateral?

If you are offered a secured personal loan with Reprise, you can use your vehicle as collateral. You will have to share documentation and details about the car to see if it meets their requirements. 

How Much Interest Does Reprise Financial Charge?

Reprise does not publish its APR range, but our research found that it can be anywhere from 9.99% to 35.99%.

Does Reprise Offer Unsecured Loans?

Reprise offers unsecured personal loans as well as secured loans in some cases. Unsecured loans do not require collateral and are instead based on the borrower’s credit and income profile.

Methodology

To evaluate and rank personal loan providers we collected hundreds of data points across 70 lenders, including traditional banks, credit unions, fintechs, and special interest finance companies. We researched and evaluated APRs, loan amounts and terms, fees, customer experience, and much more. To rank the lenders in our database and to generate star ratings, we weighted the data we collected, based in part on what consumers told us were the most important features of a personal loan and lender in a survey we conducted. We grouped those factors into four broad areas:

• Loan costs (advertised APR, fees, and six other factors): 29.25%
• Loan terms (loan amount, repayment term, and three other factors): 22.25%
• Borrowing requirements (credit score, membership requirement, and six other factors): 28.5%
• Additional features (online application, pre-qualification, and eight other factors): 20%

Learn more about how we evaluated personal loans in our complete methodology.