TriPoint Lending Reviews: Is It a Scam or Legit? (2023)

TriPoint Lending Reviews: Is It a Scam or Legit? (2023)

Want a personal loan that fits with all your needs? Then Tripoint lending can be the best loan providing company for you but Is Tripoint lending Legit or Tripoint lending is a Scam?

Don’t worry, today in this article we’re going to unveil all the facts and secrets behind Tripoint lending.

We are going to look at the company’s history, customer reviews, competitors, interest rates and fees, loan type offered, BBB review and many more things that can help you to make a right decision. So without any further delay let’s dive into our most interesting topic.

What is Tripoint lending?

Tripoint lending is a personal loan provider company that offers different types of loans in multiple sectors such as debt consolidation, medical purposes, Home improvement loans and many more loan related services.

Company provides loans to the customers with good and as well as bad credit scores but there are requirements to qualify for the loan.

– Consumers must have an annual salary of $24,000.

– Consumers must be a US citizen and have a permanent residence.

– Consumers must have a verified E-mail address + Security Number.

Therefore, these are the basic requirements to apply for a loan.

Company is based in the United States, San Francisco, CA and started its loan providing services in 2014.

Tripoint is the member of National Association of Personal Financial Advisors (NAPFA) and Better Business Bureau (BBB) with a good rating grade of A+

Company provides loans in different-different sectors as we discussed at the beginning. The loan amount is from $7,500 to $35,000 (in between), according to your requirements you can also set the loan period from 24 months to 60 months.

Personal loans are the best way to consolidate debt or for a larger payment but can also be risky, until and unless you make sure with the terms and conditions.

Tripoint Lending Pros and Cons

PROSCONS
1. Company claims to offer low rates loans.1. Misleading Rates.
2. (BBB) A+ Ratings.2. High Interest Rates.
3. Debt Calculator available.3. Unclear Loan provisions.
4. Negative Employees and Customer reviews.
5. Bad customer support.
6. Inconsistent Information.

There are many pros and cons about the company, if you’re planning to buy a personal loan from Tripoint Lending.

Moreover, there are more cons than pros based on the customer reviews.

Main reasons for increasing cons are hidden fees, bad customer services and mainly high interest rates.

Borrowers also reported that the company targets customers and then misleads them about the terms and conditions of their loans.

Before making any decision do your own research and read customer reviews. Also, pros and cons of their competitors or other personal loan providing companies as well.

Tripoint Lending Review: Loan types offered

Tripoint Lending offers loans for various expenses such as debt consolidation, medical expenses, home projects and many more.

Application process does not take enough time to register and you don’t need to wait for several days even if you have a low credit score.

Personal Loans

Company offers personal loans for emergency expenses, home improvement projects and also for medical expenses.

The application process for the personal loans doesn’t take enough time and
completed in minutes.

Debt Consolidation

Company also offers debt consolidation loans that can consolidate all your debt related problems including credit card balances, high interest debts etc.

Company offers debt consolidation loans with fixed interest rates and repayment terms with a quick and easy application process.

Tripoint Lending Review: Application Process

Borrowers don’t have to waste their time on registering themselves on the company’s forum for personal loan.

It is a quick and straightforward registration process. You can just apply for the loan from your home itself and no need to visit banks.

How does Tripoint Lending Work?

Company only focuses on Marketing. They don’t offer loans. It seems weird but that’s the only truth. They make partnership deals with different banks and money lenders and then they offer loan services through E-mails and Phone calls.

Tripoint works as the middle men, in short, the company focuses on Marketing, advertisement and application process.

After completing the application process or once they convert their customers in this deal then the company does not work as the middle man, the deal is in between the customer and the lending company or person.

Negative thing about the company is after completing the conversion process, they changed the complete scenario because it’s on the lender company’s hand, after reviewing the customer application they set their own criteria and changed the terms and conditions.

Who owns Tripoint Lending?

A loan providing company that offers loans for many purposes such as debt consolidation, medical emergencies and many more.

Customers with bad credit scores can also apply for the loan through the application process.

Company is A+ rated with Better Business Bureau (BBB)

How much does TriPoint Lending cost?

According to the Tripoint Lending, company claims that the annual percentage rates are from 5.49% APR to 30.00% APR for first-time borrowers. Monthly payments will also vary according this range.

Tripoint Lending Complaints

There are many complaints about the company as customers are saying it is a bait and switch service. Another thing about the company is they first advertised with the low interest rates on personal loans but later they changed the company scenario.

Is Tripoint Lending A Scam?

Tripoint Lending is not a scam.

But it is also not a trusted personal loan provider as per the customer reviews. If you want to apply for a personal loan then you should also analyse other loan providers too.

Is Tripoint Lending A Scam

Tripoint Lending is not a scam.

How much does TriPoint Lending cost?

The annual percentage rates are from 5.49% APR to 30.00% APR for first-time borrowers.

5/5 - (2 votes)

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