Is Credit Ninja a real thing? (2024)

Is Credit Ninja a real thing?

Absolutely! CreditNinja is a reputable and trustworthy online lender, offering personal installment loans to borrowers in need. At CreditNinja our top priority is getting you the cash you need exactly when you need it most.

Does CreditNinja run your credit?

So while we do check aspects of your credit history, it's not the only thing we consider when reviewing your application. One of the most important things we consider is each borrower's specific ability to repay a loan. If your credit score is lower than average, getting a loan may be a struggle in some cases.

What kind of loan is CreditNinja?

Personal Loans Online: Apply Fast & Easy. CreditNinja's online personal loans offer a convenient way to borrow money from the comfort of your home. They can be used for a variety of purposes and offer a straightforward application process.

Why does CreditNinja need access to my bank account?

Bank verification is used by lenders to prove that the borrower is who they claim to be and to verify the activity in the borrower's account. Lenders typically rely on other companies, like Quovo or Yodlee, to perform bank verifications.

Are Ninja loans real?

A NINJA loan is extended with no verification of a borrower's assets. NINJA loans largely disappeared after the U.S. government issued new regulations to improve standard lending practices after the 2008 financial crisis.

How long does CreditNinja take to approve?

If you are looking for an online lender specializing in bad credit loans, you should consider CreditNinja. With CreditNinja, you could get a personal loan in as little as 24 hours. * Furthermore, borrowers may also enjoy benefits such as: Easy online application.

How long does CreditNinja funding take?

Benefits Of A CreditNinja Loan:​

Fast funding — If approved, you could receive your funds by the next business day.

Does CreditNinja do a hard pull?

CreditNinja's site says it will then do a soft credit check to verify your eligibility for a loan, meaning it won't affect your credit scores.

Is CreditNinja a direct lender?

Direct lenders can be banks, nontraditional lending institutions, or the government. CreditNinja is also a direct lender. We offer direct installment loans to our borrowers.

How to get a loan when no one will give you one?

Does CreditNinja report to credit bureaus?

CreditNinja does report payments to an alternative credit service called Clarity. Much like the regular credit bureaus, Clarity tracks borrower's credit information and provides them with a score based on how financially trustworthy they are.

Does CreditNinja require direct deposit?

A Word From CreditNinja About Online Payday Loans and Cash Advances Without Direct Deposit. At CreditNinja, we want to get you your money as quickly as possible. That's why we always deposit your funds directly into your bank account. If you don't have a bank/checking account, you can usually open one for free.

What does CreditNinja do?

CreditNinja is here to provide a safe and reliable option for borrowers struggling with low credit. Rates and longer repayment terms are designed to help you in times of need. CreditNinja gives borrowers options for larger loan amounts, competitive rates, and longer repayment periods than many other online lenders.

What was the problem with Ninja loans?

Disadvantages of NINJA Loans

NINJA loans carried an increased risk for both borrowers and lenders. On the lender side, the loans required no evidence of collateral, which essentially made them unsecured loans. It meant that in the event of a default, the lender could not seize any assets to cover their losses.

How do I know if a loan company is scamming me?

Is Spotloan safe?

Yes. On its website, Spotloan states: “Spotloan reports back to credit reporting agencies on your loan payment performance. So, if you don't pay your loan back according to your loan terms, it could negatively affect your credit score.”

How does CreditNinja verify income?

Verifying income through documents such as bank statements and pay stubs. Checking all debts remaining from the borrower. Confirming assets. Double-checking reward statements.

Is CreditNinja a bank?

CreditNinja's mission is to provide hardworking Americans with financial solutions when unexpected expenses arise. Unlike traditional banks, CreditNinja works hard to ensure that people with less-than-perfect credit can have quick access to the money they need.

Who is the owner of CreditNinja?

CreditNinja has 1 current employee profile, Founder & CEO Mark Friedgan .

Are Ninja loans back?

At this point, NINJA loans are rare, if not extinct.

How long after a loan is funded do you receive the money?

Typically 3 days after the loan is funded you get your cash and the funds are disbursed, it may be quicker though. Homeowners who are refinancing a primary home have to wait the same mandatory 3-day period between receiving the loan disclosure and the loan signing, plus an additional mandatory 3-day cooling-off period.

Do you need SSN for soft credit check?

You do not need social security to run a soft pull: With a soft pull, you can obtain your customers' full credit report and FICO score using only their name and address. A soft pull does not require their social security number or date of birth.

Can you get a loan with a soft credit check?

If you apply to prequalify for a loan, the lender will also do a soft credit pull. If you like the rate and terms in your offer, you can then decide to officially apply for that loan, which will require a hard credit pull. Other instances of a soft credit check can include renting an apartment or applying for a job.

Can Credit Karma be trusted?

Millions of people use Credit Karma to track their credit scores. The company is highly transparent and provides its services through VantageScore. Thus, it offers a reliable snapshot of your current credit status. You can also use Credit Karma to spot inaccuracies in your credit report.

What is a high risk loan?

What are high-risk loans? In exchange for accepting an applicant who may have bad or no credit, a lender may charge a higher APR, require collateral, or both. So high-risk loans generally cost more, as they shift some of the risk to the borrower.