Overwhelmed with credit card debt? Been there. Now is a good time to look into soft credit check loans and find out if debt consolidation is right for you.
In this Avant loans review, we’ll explain soft search loans and how to use them in fixing your credit.
What is a Soft Credit Check?
When a business pulls your credit score, it can either be a hard or a soft credit check. A soft credit check is different than a hard credit check because it does not affect your credit score.
If you apply for a credit card or a loan with a bank, they will pull your credit score. This will be considered a hard check because they are looking at your credit report to make a decision to give you credit. Hard inquiries show up on your credit report and can lower your score. According to FICO, a hard credit inquiry can take five points off a credit score.
Soft credit checks on the other hand, do not lower your score. The most common example of a soft inquiry is when you check your own credit. Soft pulls are also done when you get a cellphone or rent an apartment. Credit card companies can do soft checks to make pre-screened card offers.
The Secret of Soft Credit Check Loans
Soft credit check loans can be your secret weapon when trying to put together a plan to repair your credit. If you have multiple cards and owe too much on them, debt consolidation is a great solution.
If you read my story, you know that I fell into the trap of shuffling balances and opening new cards. At some point it gets too overwhelming. It’s hard to come up with the money to make 9 minimum payments. Plus you have to keep track of all those due dates to avoid getting slapped with a huge late fee and another ding on your credit.
Paying minimum payments is a road with no end in sight. I couldn’t even do the math to figure out when I would ever be out of debt.
A debt consolidation loan saves you worry and gives you certainty. You know how much you have to pay each month and you know how long you have to pay. For me, that was amazing.
The secret of soft search loans is that they allow you to get real numbers and come up with a plan to consolidate. You don’t want to make your situation worse by applying for a bunch of loans and racking up a bunch of hard inquiries on your credit report. Your credit is probably already flailing, so don’t put a red flag on it with 10 recent inquiries.
Where to Start? Avant Loans Review
Online is good. Who wants to go into a bank and meet someone face to face and explain why your credit stinks? Not me. Fortunately, Avant makes personal loans online. You can check what your rate would be in less than five minutes.
The good part is you don’t have to talk to anyone if you don’t want to. Also, checking your rate with Avant does not affect your FICO score.
Avant is different. . . and I mean that in a good way. The company emphasizes transparency, service and convenience in its approach to lending. Since 2012, it has funded over $1.8 billion in loans to over 350,000 customers.
You have flexibility with Avant’s debt consolidation loans. Payment plans can range from 24 months to 60 months.
Unlike traditional banks, the process is quick and streamlined. If you are approved, the money is deposited directly with your bank. In some cases, they can complete the process in 24 hours.
Avant Debt Consolidation Loans: Perfect Credit Not Needed
Another thing that kept me from consolidation was the fear that my credit score was too low. Avant does not require high credit scores for their debt consolidation loans. According to the company, most of their customers have a credit score between 600 and 700. If you don’t know your score, check out some of my other posts on free credit reports and getting your score for free. Either way, the score range is very attainable for most people.
As with any loan or credit card, you need to check the rates and make sure it works for you. If your credit is not great, you might not be saving any money by consolidating. The benefit will come in less hassle and more control.
Unlike other programs, they do offer more flexibility with loans up to 60 months.
If you’re looking for debt consolidation, Avant is a good place to start looking. The fact that you can research your options quickly online is great for people who want to get started. Their emphasis on service is paying off. According to a recent survey of 500 recent customers, 96% were satisfied.
Since its a soft check that won’t affect your FICO score, go check Avan out and get an idea what a consolidation plan would look like for your situation.
This review contains my opinions and affiliate links. If you click on the links to Avant, I may receive a commission. This does not influence the opinions or statements made here. Bottom line, if you want to look into consolidating debt, its a great place to start.
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