The main perk of a Barclays personal loan is that they have absolutely no fees, but their loans are by invitation only. If your credit doesn’t qualify you for an invitation, check out the Check City Personal Loan where everyone is welcome to apply!
Barclays personal loans are offered by invitation only and, according to an announcement in June of 2019, might be phasing out of existence in the near future.
Personal Loans are installment loans paid back over a period of months or years, depending on your loan contract and the amount borrowed. Personal loans are most commonly used to fund major purchases, emergency expenses when you’re caught without an emergency fund, or to consolidate multiple debts into one payment. The loans at Barclays are best used to reduce monthly payments and save money by consolidating debts.
Barclays Personal Loans: A Quick Look
Loan shopping doesn’t have to be complicated. There are a few basic items you’ll need to know and then you can make a decision from there.
Loan Amount: $5,000 to $35,000
Rates: 5.74% to 20.99% APR
Fees: no fees
Terms: 36 to 60 months (3 to 5 years)
Basically, Barclays personal loans are for people with good to excellent credit scores who know how to manage their credit. If you meet these requirements then Barclays will mail you an invitation to apply for one of their loans. You need to have both good credit and a personal invitation from Barclays in order to apply for their personal loans.
Who are Barclays Personal Loans Perfect For?
There are 2 requirements that will determine whether a Barclays personal loan is the best option for you. First, you have to have an excellent credit score and credit history. Second, you have to receive a personal invitation from Barclays. If these 2 items describe you then a Barclays personal loan is a great choice, especially since they offer flexible loan terms with no fees.
PROS
- Flexible
- Exclusive
- No fees
- Great for debt consolidation
Who Should NOT Get a Barclays Personal Loan?
If you have a credit score that is less than average then you might not qualify for a Barclays personal loan invitation. But don’t feel too bad if you don’t qualify for an invitation. There are other reasons to not choose a Barclays personal loan as well.
CONS
- By invitation only
- Not great for borrowers with low credit
- Takes a few days for funds to drop
An Alternative to Barclays Personal Loans
For those of you who haven’t received an exclusive invitation for one of Barclays personal loans, don’t worry. You aren’t alone and there are still great personal loan options available to you, even if you have low credit. Check City Personal Loans don’t require an invitation. Everyone is welcome to apply regardless of their credit. Check City also offers shorter loan terms so you can get smaller, easier to pay back loans. But these aren’t the only reasons to check out a Check City Personal Loan.
Reasons to Get a Check City Personal Loan:
Check City is a direct lender so you won’t have to deal with third-party go-betweens. Instead, you’ll only apply with and receive funds from Check City.
Check City is a state licensed lender in each state they operate in. So you won’t have to worry about your loan being safe, secure, and authorized.
Check City has an online application that only takes a few minutes to fill out.
Check City doesn’t have credit requirements so even borrowers with low credit scores can still apply.
Check City has no origination fee meaning they won’t charge you a fee just for starting an account with them.
How to Apply for a Check City Personal Loan
To apply for a Check City Personal Loan all you need is a few minutes and a few documents. The process doesn’t take very long and if you visit a Check City store to apply, you can even walk out with your funds in one visit.
What You’ll Need to Apply:
- A government ID
- Proof of bank account
- Proof of direct deposit
- Proof of income
- A valid phone number
Apply Online. Would you rather apply for a loan in person? Check City provides that option too! You can also apply for a Check City Personal Loan over the phone or in the store.
Apply in the Store. By applying inside the Check City store, you can actually walk out with cash in hand in that very same visit!
Or call Check City’s Loans By Phone number: 800-404-0254 to apply with a Check City representative over the phone.
The Check City personal loan was created for everyone. Anyone can apply and get their funds FAST with our simple streamlined loan process. Don’t hesitate to give us a call, pull up our website, or visit your neighborhood’s Check City store to get your money now.
COMPARE SIMILAR PERSONAL LOAN OPTIONS
| Check City | American Express | Citizens Bank | Avant | Barclays | |
|---|---|---|---|---|---|
| Amount | $300 to $3,000 | $3,500 to $40,000 | $5,000 to $50,000 | $2,000 to $35,000 | $5,000 to $35,000 |
| Rates | lower APR than our payday loans | 6.90% to 19.98% | 6.78% to 20.88% | 9.95% to 35.99% | 5.74% to 20.99% |
| Fees | no origination fees | no origination fee, there are late fees | no application fee, no annual fee, no late fee | no prepayment fee, but there is an administration fee up to 4.75%, a $25 late fee, and a $15 dishonored payment fee | no fees |
| Terms | 6 months | 12 to 48 months | 36 to 84 months | 24 to 60 months | 36 to 60 months |
| Min. Credit Score | none | 660 | 680 | 580 | excellent credit |
Don’t settle for less in a personal loan. Research the personal loan options available to you before making a choice. That way you’ll know you’re getting the best personal loan for you.
*The information found in this article comes from the lenders’ websites and NerdWallet reviews at the time of posting.
