Achieve Personal Loans: 2023 Review

Achieve is a strong option for debt consolidation loans. Borrowers can have funds paid directly to creditors and benefit from multiple rate discounts.
By Annie Millerbernd and  Ronita Choudhuri-Wade 

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Our Take


NerdWallet rating 

The bottom line:

Achieve personal loans can be a good debt consolidation option for fair- or good-credit borrowers who qualify for one of the lender’s rate discounts.

Est. APR
Loan amount
Min. credit score
Get rate

on Achieve's website

Pros & Cons


  • Direct payment to creditors with debt consolidation loans.
  • Option to pre-qualify with a soft credit check.
  • Joint loan options.
  • Multiple rate discounts.


  • Origination fee.
  • Not available in all states.
  • No mobile app to manage loan.

Compare to Other Lenders

NerdWallet rating 
NerdWallet rating 
Est. APR


Est. APR


Loan term

2 to 5 years

Loan term

3 to 5 years

Loan amount


Loan amount


Min. credit score


Min. credit score


Compare estimated rates from multiple lenders

Compare Rates

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Full Review of Achieve Personal Loans

Achieve, formerly FreedomPlus, offers personal loans that work well for consolidating large amounts of credit card or other unsecured debt. While starting rates are high, they can be reduced if you qualify for one of the lender’s rate discounts, and loan proceeds can be sent directly to creditors.

Achieve says it offers personal loans for borrowers with fair, good and excellent credit scores (630 and higher); average borrowers have good credit and strong household income.

The company has an online application, but unlike other online personal loan lenders, you'll speak to a dedicated Achieve loan consultant to complete the application process.

Table of Contents

Achieve personal loans at a glance

Minimum credit score



7.99% - 35.99%.


Origination: 1.99% to 5.99%.

Loan amount

$5,000 to $50,000.

Repayment terms

2 to 5 years.

Time to fund after approval

1 to 3 business days.

Loan availability

Loans aren't available in CO, CT, HI, KS, ME, ND, VT, WV, WI and WY.

All loans available through Achieve Personal Loans (NMLS ID #227977) are originated by Cross River Bank (a New Jersey state chartered commercial bank) or Pathward, N.A. (Equal Housing Lenders) and may not be available in all states. All loan and rate terms are subject to eligibility restrictions, application review, credit score, loan amount, loan term, lender approval, and credit usage and history. Minimum loan amounts vary due to state-specific legal restrictions – please call an Achieve Personal Loans consultant for further details. Loan amounts generally range from $5,000 to $50,000 including origination fees, and are offered based on loan purpose and underwriting conditions. Repayment periods range from 24 to 60 months. APRs range from 7.99% to 35.99% APR and include applicable origination fees. Example loan: four-year $20,000 loan with a rate of 15.49% and corresponding APR of 18.34%, would have an estimated monthly payment of $561.60 and a total cost of $26,956.80. To qualify for a 7.99% APR loan, a borrower will need excellent credit, a loan amount for $12,000.00 or less, and a term of 24 months. Loan origination fees vary from 1.99% to 5.99%. Adding a co-borrower with sufficient income; using at least 85% of the loan proceeds to directly pay off qualifying existing debt; or showing proof of sufficient retirement savings, could also help you qualify for lower rates. Average interest savings for personal loans range from 0% - 6% based on closed loans that qualified for one or more of our rate discounts in July 2022. †Times noted are estimates and can vary for a loan request from Achieve Personal Loans (NMLS #227977). Same day approvals assume that a fully completed application with all required supporting documentation is provided early enough on a day that our offices are open. Achieve Personal Loans consultants are available Monday–Friday 6AM to 8PM MST and Saturday–Sunday 7AM to 4PM MST.

Where Achieve personal loans stand out

Multiple ways to get rate discounts. Achieve offers three ways to get a rate discount for qualifying borrowers:

  • Joint loan discount: Achieve will take up to six percentage points off your rate if you add a co-borrower to your application. Achieve will assess the combined income and credit profile of both borrowers on a joint loan application.

  • Retirement savings discount: Qualifying Achieve borrowers with at least $25,000 in retirement savings can receive a discount of up to five percentage points on their rate. Borrowers with $40,000 or more may get the largest discount. Your retirement savings aren't used to secure a loan.

  • Direct pay discount: Borrowers using their Achieve loan for debt consolidation can get a discount of up to four percentage points on their rate if the loan proceeds are sent directly to their creditors. To qualify for the full discount, borrowers must have at least 85% of the Achieve funds sent to another creditor.

Fast funding. Achieve says most customers receive a loan decision the same day they apply. Once a borrower is approved, the lender can fund a loan within three days. While that isn’t the next-day funding option other online lenders provide, it is faster than some lenders that take five or more days to deposit the funds into your account.

Option to change your payment date. Achieve says borrowers can choose their payment date before signing a loan agreement and change the date twice in a 12-month rolling period, or six times throughout the life of the loan. This is a helpful feature if you switch jobs, for example, and get paid on a different date.

Where Achieve personal loans fall short

Origination fee. Achieve charges an origination fee. For most borrowers the fee is 4.99% of the loan amount, according to the company’s website.

No rate discount for autopay. Many lenders offer a small APR discount — usually 0.5 percentage points or less — to encourage borrowers to set up automatic payments. Achieve doesn’t offer the discount but says most borrowers are automatically set up for autopay. This ensures on-time payments, which can help build credit.

Not available in all states. Achieve is available to borrowers only in states where the lender is licensed. While most states are included, borrowers in Colorado, Connecticut, Hawaii, Kansas, Maine, North Dakota, Vermont, West Virginia, Wisconsin and Wyoming aren't eligible to apply.

No mobile app. Achieve doesn’t have a mobile app, which can make things less convenient for borrowers who prefer managing their accounts on their phones.

How to qualify for a Achieve personal loan

Most lenders have basic requirements to apply, and some have financial requirements or recommendations to qualify. To apply for an Achieve personal loan, you must be:

  • A resident in one of Achieve's licensed states.

  • Able to provide a verifiable bank account.

  • Able to provide verifiable income.

Here are Achieve’s minimum requirements to qualify for a loan. (Meeting these requirements doesn't guarantee approval.)

  • Minimum credit score: 620.

  • Maximum debt-to-income ratio: 45%, excluding mortgage.

  • Minimum income: None.

  • Minimum credit history: Three years and two accounts.

  • Not actively delinquent on debt.

  • No bankruptcy in the last 24 months.

Here are details about Achieve’s average borrower, according to the lender.

  • Average credit score: 700.

  • Average annual income: $115,000.

  • Average loan amount: $22,000.

  • Average loan term: 3 years.

  • Most common loan purpose: Debt consolidation and credit card refinancing.

Before you apply

  • Check your credit. You can get your free credit report on NerdWallet or at Doing so will help you spot and fix any errors before you apply.

  • Calculate your monthly payments. Use a personal loan calculator to determine what APR and repayment term you would need to get a loan with affordable monthly payments.

  • Make a plan to repay the loan. Review your budget to see how the loan’s monthly payments impact your cash flow. If you have to cut other expenses in order to repay the loan, it’s better to know that before you borrow.

  • Gather your documents. Achieve requires proof of income, which can be a W-2 or pay stub, as well as proof of address and a Social Security number. Having these documents handy can speed the application process.

How to apply for a Achieve personal loan

Here are the steps to apply for a Achieve personal loan.

  1. Pre-qualify on Achieve’s website. You’ll be asked how much you want to borrow and what the funds are for, as well as some personal information like your name, email address, phone number, income and employment. There’s no hard credit pull at this stage.

  2. Submit the online application. Once you're ready, submit a formal personal loan application. This could require more documents, like W-2s, pay stubs and bank statements to confirm the information you gave during pre-qualification. Achieve will also do a hard credit check when you apply, so your credit score could temporarily dip.

  3. Talk to a Achieve loan consultant. After you submit the application online, a dedicated loan consultant from Achieve will reach out to you. The loan consultant may ask questions on your overall financial picture and let you know your loan options.

  4. Stay on top of your loan payments. Achieve reports payments to all three major credit bureaus, so on-time payments will help build your credit score, but missed payments will hurt it. Setting up automatic payments and keeping an eye on your budget are two ways to manage your loan payments.

Compare Achieve with other lenders

Compare Achieve with other lenders to decide whether it offers the right personal loan for you. Lenders offer different rates, loan amounts and special features, so it pays to weigh your options. The best personal loan is usually the one with the lowest APR and most affordable monthly payments.

Achieve vs. Happy Money

Like Achieve, Happy Money offers personal loans to fair- and good-credit borrowers. Both lenders also charge origination fees. But Achieve offers more rate discounts that can lower the overall cost of your loan when compared with Happy Money.

Achieve vs. Best Egg

Best Egg and Achieve are both good options for debt consolidation, although Best Egg has higher origination fees and no rate discounts. Best Egg can be a good option for borrowers looking for a secured loan for home improvements.

How we rate Achieve personal loans

NerdWallet writers rate lenders against a rubric that changes each year based on how personal loan products evolve. Here’s what we prioritized this year:


Star rating



Loan flexibility

Customer experience


Affordability An affordable loan has low rates and fees compared to other similar loans and may offer rate discounts. Transparency A transparent lender makes information about the loan easy to find on its website, including rates, terms and loan amounts. Transparency also means allowing users to pre-qualify online to preview potential loan offers and reporting payment information with the major credit bureaus. Loan flexibility A flexible loan is one that lets users customize terms and payments. That means offering a wide range of repayment term options, allowing the borrower to change their payment date, offering loans in most states and funding it quickly. Customer experience A good customer experience can include a fully online application process, financial education on the lender’s website and a customer service team that’s available most of the time and can be reached multiple ways.

Ready to apply? Click the button below and head to the Achieve website to pre-qualify.

on Achieve's website


NerdWallet’s review process evaluates and rates personal loan products from more than 35 financial institutions. We collect over 45 data points from each lender, interview company representatives and compare the lender with others that seek the same customer or offer a similar personal loan product. NerdWallet writers and editors conduct a full fact check and update annually, but also make updates throughout the year as necessary.

Our star ratings award points to lenders that offer consumer-friendly features, including: soft credit checks to pre-qualify, competitive interest rates and no fees, transparency of rates and terms, flexible payment options, fast funding times, accessible customer service, reporting of payments to credit bureaus and financial education. We also consider regulatory actions filed by agencies like the Consumer Financial Protection Bureau. We weigh these factors based on our assessment of which are the most important to consumers and how meaningfully they impact consumers’ experiences.

This methodology applies only to lenders that cap interest rates at 36%, the maximum rate most financial experts and consumer advocates agree is the acceptable limit for a loan to be affordable. NerdWallet does not receive compensation for our star ratings. Read more about our ratings methodologies for personal loans and our editorial guidelines.

Frequently asked questions