Lift Credit Review: Is It a Scam or Legit?

Lift Credit Review: Is It a Scam or Legit? 1

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Lift Credit, established in 2013, has emerged as a notable player in the online installment loan market, primarily catering to individuals needing emergency funds, especially those with less-than-ideal credit histories. Operating in a select few states, including Utah, Idaho, Missouri, and Wisconsin, Lift Credit offers loans ranging from $100 to $2,500.

This service is distinguished by its quick funding process and installment loan structure, aiming to provide a flexible financial solution to those in urgent need. However, potential borrowers should be mindful of the high Annual Percentage Rates (APRs), which can range significantly from 99% to 450%. This review aims to provide a comprehensive analysis of Lift Credit’s services, customer experiences, and costs, helping consumers make informed decisions.

Lift Credit Review

Lift Credit Pros and Cons

Lift Credit, as a financial service offering online installment loans, presents a mix of benefits and drawbacks that are essential for potential borrowers to understand.


  1. Quick Funding: One of the primary advantages of Lift Credit is its ability to provide loan proceeds swiftly. This aspect is particularly beneficial for those in urgent need of cash​​.
  2. Flexible Repayment Terms: Lift Credit’s loans, with terms ranging from 3 to 12 months, offer a less pressurized repayment environment compared to lump-sum payday loans. This flexibility helps borrowers manage their finances more effectively​​.
  3. Benefits for Repeat Borrowers: Loyal customers of Lift Credit may access declining interest rates over time, cash-back rewards, and possibly same-day wire transfers for repeat loans. These benefits enhance the value of the service for returning customers​​.
  4. Eligibility for Bad Credit Individuals: Unlike many traditional lenders, Lift Credit provides loan options for individuals with poor credit, making it an accessible option for a wider range of borrowers​​.


  1. High APRs: The most significant drawback of Lift Credit is its high-interest rates, which can range from 99% to 450%. Such rates are substantially higher than traditional lending options and can pose a significant financial burden on borrowers​​​​.
  2. Limited State Availability: Lift Credit’s services are only available in a few states (Utah, Idaho, Missouri, and Wisconsin), which restricts accessibility for many potential customers​​​​.
  3. Stricter Eligibility Requirements: Compared to other installment loan providers, Lift Credit has more stringent eligibility criteria, including minimum income requirements and employment stability, which may disqualify some interested applicants​​.

In conclusion, while Lift Credit offers convenient and accessible loan options, especially for those with poor credit, the high APRs and geographical limitations are critical factors to consider before opting for their services.

Lift Credit Products and Services

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Photo Credit: Medallion Media Group

Lift Credit offers distinct financial products and services, catering to individuals in need of immediate cash solutions. Here’s a detailed look at what they provide:

  1. Range of Loan Amounts: Lift Credit loan offerings range from $100 to $5,000, providing flexibility for various financial needs. This range allows borrowers to choose an amount that suits their immediate requirements without over-borrowing​​​​​​.
  2. Loan Terms: The loan terms vary from 3 to 12 months, offering borrowers an installment repayment plan. This approach is more manageable compared to the traditional lump-sum repayment structure of payday loans, easing the financial strain on the borrower​​​​.
  3. Application Process: Applying for a loan with Lift Credit is streamlined and user-friendly. The entire process can be completed online, including the submission of necessary documents like paystubs and state-issued ID. This ease of application is particularly beneficial for those requiring urgent financial assistance​​​​.
  4. Eligibility Criteria: To be eligible for a loan, applicants must be at least 18 years old, residents of Utah, Idaho, Missouri, or Wisconsin, and not have any open bankruptcies. Additionally, they must provide proof of employment for at least three months at their current job and meet a minimum monthly income requirement​​​​​​.
  5. Quick Approval and Fund Disbursement: Once the application is submitted, approval decisions are typically made swiftly, often within the same day. Funds are usually deposited into the borrower’s account within one business day, providing quick access to needed cash​​​​.
  6. Credit Requirements: Notably, Lift Credit offers loans to individuals with poor or unscored credit, making it an accessible option for those who might struggle to secure loans from traditional financial institutions​​.
  7. Customer Service: Lift Credit is known for its responsive customer service, with claims of replying to inquiries within 30 minutes during business hours. This level of support can be crucial for borrowers navigating financial emergencies​​.

In summary, Lift Credit provides a range of loan products with an emphasis on accessibility and speed. However, potential borrowers should carefully consider the terms and eligibility criteria to ensure it aligns with their financial situation and needs.

Lift Credit Customer Reviews

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Photo Credit: Medallion Media Group

Customer reviews are pivotal in understanding the real-world impact of Lift Credit’s services. Let’s delve into the experiences shared by various users:

  1. SuperMoney Reviews: Lift Credit has a generally positive reception on SuperMoney, with a net recommendation score of +32. This indicates that a majority of the reviewers recommend their services. Out of 22 total reviews, 14 users recommended Lift Credit, 7 did not recommend, and 1 was unsure. This mixed response suggests that while many find Lift Credit helpful, there are notable concerns as well​​.
  2. Quick Approval and Funding: A recurrent positive aspect mentioned by customers is the rapid approval and funding process. Many customers appreciated the swift response time, stating that they received funds within a business day, which was crucial in their times of emergency​​​​.
  3. Service for Bad Credit Individuals: Customers with poor credit highlighted the accessibility of Lift Credit’s loans as a significant advantage. The fact that credit history was not a major barrier to obtaining a loan was beneficial for those who might not qualify for traditional loans​​​​.
  4. High Interest Rates: However, a major area of concern for many customers was the high APRs. While the quick access to funds was appreciated, the cost associated with these loans – interest rates ranging from 99% to 450% – was a significant drawback. Some customers felt that the high interest rates compounded their financial difficulties in the long run​​​​.
  5. Customer Service Experiences: The reviews on customer service were mixed. While some praised the quick and helpful responses, others felt that the customer service could be improved, especially in handling complaints and queries related to loan terms and repayment schedules​​​​.
  6. Financial Strain: Several customers expressed concerns over the financial strain caused by the high interest rates, especially those who were already in a precarious financial situation. The impact of these rates on the overall cost of the loan was a recurring theme in negative reviews​​.

In summary, Lift Credit reviews present a mixed picture. The company’s ability to provide quick loans to individuals with poor credit is highly valued, but the high interest rates and the financial strain they impose are significant drawbacks. Potential customers should weigh these experiences carefully against their own financial circumstances before deciding to proceed with Lift Credit.

Lift Credit BBB Profile

The Better Business Bureau (BBB) profile of Lift Credit provides additional insights into the company’s business practices and customer satisfaction:

  1. BBB Accreditation and Rating: Lift Credit has been accredited by the BBB since December 11, 2015, and holds an A+ rating. This high rating indicates a positive evaluation by the BBB in terms of business practices and customer interactions​​.
  2. Years in Business: Having been in business for 11 years, with the business starting locally on October 29, 2012, Lift Credit has established a significant presence in the financial services industry​​.
  3. Customer Complaints: Over the past three years, Lift Credit had 3 customer complaints filed with the BBB. In the last 12 months, there has been 1 complaint filed. This relatively low number of complaints could suggest a satisfactory level of service, but it’s also important to consider the nature and resolution of these complaints​​.
  4. Nature of Complaints: The complaints registered have revolved around issues such as advertising/sales and the handling of financial matters. For example, one complaint detailed a borrower’s struggle with high interest rates and the challenges they faced in making installment payments, highlighting concerns similar to those found in customer reviews​​.
  5. Complaint Resolution: The BBB notes that these complaints have been closed, which implies that Lift Credit addressed the issues raised by the customers. However, the satisfaction of the customers with the resolutions is not always clear from the BBB data​​.

In conclusion, Lift Credit’s BBB profile sheds light on its standing in terms of accreditation and customer feedback. While the A+ rating and accreditation are positive indicators, potential borrowers should also consider the nature of customer complaints and their resolutions when evaluating Lift Credit as a loan provider.

Lift Credit Trustpilot Reviews

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Photo Credit: Medallion Media Group

As of the information available, Lift Credit does not have a substantial presence or a significant number of reviews on Trustpilot. However, it’s important to consider insights from other review platforms and customer feedback sources to get a comprehensive understanding of customer experiences with Lift Credit.

From various sources, a few key points emerge about Lift Credit:

  1. Customer Satisfaction: While there are some positive remarks about the quick loan approval process and accessibility for individuals with poor credit, concerns about high interest rates are prevalent​​​​​​.
  2. Service and Responsiveness: Customers have had mixed experiences with customer service. Some found Lift Credit responsive and helpful, especially in terms of quick communication and processing of loans. Others, however, reported issues with customer service, particularly in handling queries and complaints​​​​.
  3. Impact of High APRs: A recurring theme in reviews across platforms is the high APRs associated with Lift Credit loans. These rates, which can be as high as 450%, have been a source of financial strain for some borrowers, overshadowing the benefits of quick access to funds​​​​​​.

In conclusion, while direct Trustpilot reviews for Lift Credit are not extensively available, the overall customer feedback from other sources suggests a mixed reception. The ease of obtaining loans for those with bad credit and quick funding are positives, but the high interest rates and some customer service issues are notable drawbacks. Prospective borrowers should carefully consider these factors in relation to their own financial situations.

Lift Credit Cost Analysis

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Photo Credit: Medallion Media Group

Understanding the cost implications of taking a loan with Lift Credit is crucial for making an informed decision. Here’s an analysis of the costs associated with Lift Credit’s loans:

  1. High Annual Percentage Rates (APRs): Lift Credit’s APRs range from 99% to 450%, which is significantly higher than many traditional loan products. These rates greatly influence the total cost of the loan. For instance, a $500 loan at an APR of 399% for four months would result in nearly $400 in interest alone​​.
  2. Repayment Terms Impact: The repayment terms, ranging from 3 to 12 months, directly affect the total amount repaid. Longer terms might reduce the monthly payment amount but increase the total interest paid over the life of the loan. Conversely, shorter terms lead to higher monthly payments but lower total interest costs​​​​.
  3. Fees and Penalties: Notably, Lift Credit does not charge origination fees or prepayment penalties. This is a positive aspect as it means borrowers won’t incur additional costs for processing the loan or for paying off their loan early​​.
  4. Cost-Benefit Analysis: While the quick access to funds and the flexibility in repayment schedules are appealing, the high APRs mean that the total cost of borrowing can be significantly high. Borrowers should compare these costs with other lending options, considering both the short-term benefits and the long-term financial implications​​​​​​.
  5. Alternatives: It’s advisable for potential borrowers to explore other financial options that might offer more favorable terms, such as personal loans from banks or credit unions, secured credit cards, or borrowing from friends or family, before committing to a high-interest loan like those offered by Lift Credit​​.

In summary, while Lift Credit provides a viable option for quick and accessible loans, especially for those with poor credit, the high APRs significantly impact the overall cost of borrowing. Prospective borrowers must weigh these costs against their immediate financial needs and explore alternative options to ensure the most financially prudent decision.


In conclusion, Lift Credit offers a valuable service for those in urgent need of funds, especially for individuals with poor credit. Its quick funding, flexible repayment options, and lack of stringent credit requirements are commendable. However, the high APRs, ranging from 99% to 450%, pose a significant financial burden, making it crucial for potential borrowers to carefully consider the long-term implications. While Lift Credit serves as an accessible option in specific states, exploring other financial alternatives with more favorable terms is advisable. Ultimately, the decision to use Lift Credit should be based on a thorough assessment of personal financial needs, BBB reviews, and the total cost of borrowing.

This review aimed to provide a balanced and comprehensive look at Lift Credit, aligning with Google Quality Rater Guidelines for insightful and authoritative content. We hope this analysis assists you in making an informed financial decision.

Frequently Asked Questions

What should I consider before taking a loan from Lift Credit? Before taking a loan from Lift Credit, consider the high APRs, which can significantly increase the total repayment amount. Assess your ability to repay under these terms and explore other financial alternatives with more favorable conditions.

How quickly can I receive funds from Lift Credit? Lift Credit offers quick funding, often within one business day of loan approval. This makes it a viable option for those needing emergency funds quickly.

Can I get a loan from Lift Credit with bad credit? Yes, Lift Credit provides loan options for individuals with poor or no credit history, making it accessible for those who might not qualify for traditional loans.

What are the repayment terms for Lift Credit loans? Lift Credit offers flexible repayment terms ranging from 3 to 12 months, allowing borrowers to choose a plan that suits their financial situation.

Are there any fees associated with Lift Credit loans? Lift Credit does not charge origination fees or prepayment penalties. However, the high APRs should be considered as they significantly impact the total cost of the loan.

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