CreditNinja Review: Received a Mail Offer? Is It a Scam or Legit?

CreditNinja Review: Received a Mail Offer? Is It a Scam or Legit? 1

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CreditNinja is an online lending company that offers fast online personal loans, frequently used for debt consolidation purposes. In today’s world, finding a trustworthy and reliable financial institution can be a challenging task. Throughout this blog post, we intend to provide an in-depth review of CreditNinja, its services, and its legitimacy.


What is CreditNinja?


Chicago-based CreditNinja offers personal loans to individuals who may have difficulty obtaining loans from traditional banks. According to the borrower’s creditworthiness, the company offers loans ranging from $300 to $5,000.

CreditNinja sends direct mail offers to potential customers as part of their service. As a result of this offer, we investigated the company, its services, and its legitimacy.

CreditNinja Review: Received a Mail Offer? Is It a Scam or Legit? 2

According to their website and fine print, we discovered these interesting facts:

  • You may be funded directly by CreditNinja, by an FDIC-insured bank, or by a non-affiliated lender.
  • Loan amounts range from $300 to $5,000.
  • There is a fixed APR ranging from 19% to 349%.
  • Loan terms range from 12 to 18 months.
  • 5% of the loan amount is charged as an origination fee.
  • You can apply for a loan only if you live in one of 25 states or Washington, DC.

How Does CreditNinja Work?

Loan applications with CreditNinja are straightforward. Online applications require you to provide personal information such as your employment status, income, and other relevant financial information.

CreditNinja personal loans are available to U.S. citizens and residents over 19 years of age with a minimum credit score of 500. Proof of income and personal identification are also required.

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Your creditworthiness will determine your approval and loan terms, including interest rate and repayment schedule. It usually takes one business day for your loan funds to be deposited into your bank account.

What Are the Pros and Cons of Using CreditNinja?

CreditNinja Review: Received a Mail Offer? Is It a Scam or Legit? 3
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Using CreditNinja has some advantages, such as:

  • One-day funding process and quick application process.
  • There is no prepayment fee.

While CreditNinja has many advantages, it also has some disadvantages:

  • With APRs ranging from 199% to 349%, these loans are extremely expensive. Typically, personal loans have interest rates between 5% and 36%.
  • There is no soft credit check for pre-approval.
  • There is an origination fee of 5% of the total loan amount, as well as a late payment fee.

BBB Ratings and Reviews for CreditNinja

The BBB gives CreditNinja a rating of B, despite the fact that it is not accredited. They have an average rating of 15 stars based on customer reviews. In the past year, they have received 218 customer reviews and resolved 70 complaints.

Here are some examples of their BBB reviews:

CreditNinja Review: Received a Mail Offer? Is It a Scam or Legit? 4

Cancelling a CreditNinja personal loan

  • You must contact NetCredit’s customer service directly if you wish to terminate a personal loan. To cancel, you can contact them by phone or email.
  • There may be fines or charges associated with canceling a loan, depending on the rules. Before canceling a loan, you should thoroughly read and understand the terms and conditions of the agreement.
  • If your loan hasn’t been disbursed yet, you may be able to cancel it without penalty. Nevertheless, if the loan has already been disbursed, you might have to repay it immediately, including interest.

CreditNinja Review: Is it Legit or a Scam?

The company CreditNinja offers unsecured loans to individuals who may have difficulty obtaining traditional loans. In addition to their advantages, such as a quick application process and funding, they also have their disadvantages, such as extremely high interest rates of up to 349% that are not disclosed anywhere on their website or direct mail.

Although they have a B rating from the BBB, Credit Ninja is not accredited by them. The decision to use Credit Ninja should be based on your personal financial situation. You should always read and understand all loan terms and conditions before applying.

Frequently Asked Questions

How does CreditNinja determine which applicants are eligible for loans?

Applicants must be U.S. citizens or permanent residents, at least 18 years old, have a verifiable source of income, and maintain an active checking account. While assessing your application, CreditNinja also considers your credit score and income.

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What are the interest rates on CreditNinja loans?

CreditNinja offers loans based on factors such as your credit score, income, amount borrowed, and loan term. Their fixed APR ranges from 199% to 349%, which is considered extremely high.

Can CreditNinja affect my credit score if I apply for a loan?

During the application process, CreditNinja does not perform a soft credit pull. A hard credit pull will be performed if you accept a loan offer, which will temporarily lower your credit score.

Is it possible to repay my CreditNinja loan early?

There are no prepayment penalties if you repay your loan early. You can also save money on interest payments this way.

Does CreditNinja charge any other fees?

The origination fee is 5% of the loan amount. Late fees may also apply.

Is CreditNinja available in all states in the U.S.?

Currently, CreditNinja is available in 25 U.S. states and Washington, DC. Check their website to see if their services are available in your area.


  • Payday Loans: Payday Loans are short-term, high-interest loans that are typically required to be paid back on the borrower’s next payday. They are often used by individuals who need immediate financial assistance before their next paycheck.
  • Bad Credit Loans: Bad Credit Loans are types of loans offered to individuals who have a poor credit history or low credit score. These loans typically have higher interest rates and may require a co-signer or collateral. They are designed to provide financial assistance to those who may not qualify for traditional loans due to their credit status.
  • Origination Fees: Origination Fees are upfront charges that lenders impose on borrowers for processing new loan applications, used as compensation for putting the loan in place. They are typically expressed as a percentage of the total loan amount.
  • Financial Assistance: Financial assistance refers to funds provided to individuals, businesses, or countries in need to support them in overcoming financial challenges. This could include grants, loans, subsidies, scholarships, or welfare benefits.
  • Online Lenders: Online lenders are financial institutions or services that operate on the internet, offering loans and credit facilities to individuals and businesses. They provide services such as personal loans, business loans, mortgages, and student loans, usually with a more streamlined application process compared to traditional banks.
  • Installment Loans: Installment loans are a type of loan that is repaid over a set period of time through a fixed number of scheduled payments. These loans typically include interest and are commonly used for large purchases such as homes or cars.

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