Written by
Lorien Strydom
Company name
Acorns
Website
https://www.acorns.com
Phone
1-855-739-2859
support@acorns.com
Address
5300 California Avenue, Irvine, CA 92617
Acorns
Our take on Acorns in 30 seconds
Acorns excels at making investing accessible to beginners through automation and simplicity.
The flat-fee structure works well for larger accounts but can be expensive for small portfolios.
While their customer support is adequate, response times could be improved. The platform offers excellent user experience but limited investment options.
Overall, Acorns is best suited for new investors looking to build habits through automation rather than those seeking advanced portfolio customization.
Pros & Cons
Get investment accounts in under 5 minutes
High level security
Debit card with free ATM withdrawals
Only 30 days with free account
Acorns At glance
Read reviews (2)Details
Acorns Broker
Pricing, commissions & fees
Commission local$3-$5 per month (subscription model)
Commission US stocks$0
Withdrawal flat fee$0
Inactivity fee$0
Deposit fee$0
Currency exchange fee0%
Minimum deposit$5
Features
Available on webYes
Available on iOSYes
Available on AndroidYes
Available on desktopNo
Robo advisor/assisted tradeYes
Copy trading / social tradingNo
Fractional sharesYes
Deposit with debit cardYes
Demo accountNo
Interest on uninvested fundsYes
Investment options
Number of stock exchanges1
Number of stocks4000
Number of ETFs7
Total trading options4000+
Regulatory bodySEC and FINRA
Security & Support
24/7 SupportNo
Live chatYes
Email supportYes
Phone supportYes
Community forumsNo
Additional fields
Recommended companyYes
Acorns
Apply for a loan nowHow We Rate Acorns
At Financer, all lenders go through a thorough research and review process. Here's how we rate Acorns:
| Category | Rating |
|---|---|
| Affordability | ⭐⭐⭐ |
| Application process | ⭐⭐⭐⭐ |
| Loan terms | ⭐⭐⭐⭐⭐ |
| Transparency | ⭐⭐⭐⭐ |
| Customer support | ⭐⭐⭐ |
| Overall | ⭐⭐⭐⭐ |
Here's what we'll cover in this review:
Want to skip the details? Jump to our final verdict here.
Acorns Overview
xx
Here's a quick summary of Acorns:
| Overview | Features |
|---|---|
| Loan type: | Personal loans |
| Loan amount: | $500 - $32,000 |
| Loan term: | 24 to 60 months |
| APR: | From 4.99% |
| Min. credit score: | None |
| Monthly fees: | None |
| Payout time: | One business day |
| Weekend payout: | No |
| Requirements: | At least 18 years oldU.S. citizenActive bank accountRegular incomeValid phone number and email |
x
Want to find out more about the full range of offerings? Read our Acorns review below or view Acorns reviews from customers.
See your loan offersAcorns Pros and Cons
Here are some of the pros and cons of Acorns as a lender:
Pros
A lending marketplace** operating in all U.S. states**.
All credit types are acceptable.
No collateral is required for unsecured personal loans.
A streamlined and straightforward application process.
Simple and 100% free application process with a quick turnaround.
Qualify within minutes and receive your funds the next business day.
No credit check is required and the initial Fortuna Credit application won’t affect your credit score.
Acorns is
Cons
APRs can be high
No phone support
xx
Who Is Acorns For?
x
Eligibility Requirements
Here are the loan requirements when applying for a Fortuna Credit loan:
Be at least 18 years old.
Be a U.S. citizen.
Have an active bank account that accepts direct deposits.
Have a regular stream of income.
Have a valid contact number and an active email address.
No minimum credit score is required.
Who It's For
Acorns is for you if:
You have a less-than-perfect credit history
You want to get multiple loan offers
Need funds fast
Don't have collateral
Want to complete an online application
Who It's Not For
Acorns may not be a good option for you if:
You want the lowest APR rates
Need a loan of more than $25,000
Want to take out a secure loan
How To Get Started with Acorns
Applying for a Fortuna Credit loan is fast and easy. Here are the steps:
Once a loan is approved, customers can communicate directly with their individual lenders to get personalized information.
Loan amounts range from $500 to $25,000 depending on the lender.
Each loan contract contains different requirements. It is essential that you thoroughly read your agreement before committing.
What To Consider Before Applying
To make sure you understand the costs involved in any loan, always research the offers from lenders and look for origination fees, prepayment penalties, late fees, and more.
We suggest you always double-check any policies and terms before agreeing to a loan from a lender as Fortuna Credit just operates the marketplace and does not guarantee terms.
Although there is no minimum credit score required based on our Fortuna Credit review, keep in mind that the lender might do a hard credit check to determine your eligibility when you complete your loan application.
Fortuna Credit Fees
APRs differ between lenders and typically start from 4.99%. There are NO fees associated with using the Fortuna Credit site, though many lenders may have their own fees. Fees are dependent on the lender, not Fortuna Credit.
There are** no prepayment penalties** or hidden fees. Contact your lender directly If you are unsure whether you'll be able to afford the repayments.
x
How Financer Rates Acorns
Is Acorns legit? Yes, at Financer we recommend Acorns.
At Financer, all lenders go through a thorough research and review process. We don't make recommendations lightly.
All loan applications are done through their online platform with a simple process that takes a few minutes to complete. Borrowers can log into their dashboard to see new loan offers and the status of their existing applications.
Application Process
The application process with Fortuna Credit is very quick and easy. It takes only a few minutes to complete the steps and get your loan offers.
Costs
There are no fees associated with using the Fortuna Credit platform. Note that lenders charge their own fees and APRs vary by lender.
With loan APRs typically starting at 4.99%, this is quite standard compared to other short-term lenders in the U.S.
Payments
Most lenders on the Fortuna Credit platform allow for loans to be repaid over up to 60 months, which aligns with most other lenders.
Customer Service
Fortuna Credit lacks a bit in terms of customer service as they only offer support via email. They don't offer phone support.
We tested out Fortuna Credit's customer service by requesting information via email. We received a confirmation of our inquiry immediately and received a formal reply a few hours later.
Privacy and Security
Not much is available about how they handle customer information, except for their standard Privacy Policy.
Similar to other loan marketplaces and online lenders, Fortuna Credit collects and shares user information with partners in their network.
Apply for a loan now5KFunds FAQs
How much can I borrow with a 5K Funds loan?
You can borrow up to $35,000.
What is the cost to use 5KFund?
5KFunds does NOT charge any fee, however individual lenders may have their own origination and application fees.
Is my personal information secure?
5KFunds takes your privacy seriously, and the personal information you enter protected with 256-bit bank-level SSL encryption.
Who do I contact about late payments?
Contact the lender directly if you have any issues repaying your loan. Late Payment penalties differ from lender to lender. Some lenders may automatically add a fee if it is in their agreement.
Why is 5KFunds a unique loan comparison service?
5KFunds partners with over 100 unique lenders and offers unsecured of up to $35,000. Once approved, money is directly deposited into the borrower's bank account as soon as the next business day.
How much does a 5KFunds loan cost?
The 5KFunds marketplace is 100% free to use. However, the APRs from lenders vary from 5.99% to 35.99%.
What can I use the loan for?
You can use your 5KFunds personal loan for anything you want.
When do I repay my loan?
Loan repayment terms differ by lender but repayment periods vary from 61 days to 72 months.
What can I use a personal loan for?
You can use your personal loan from 5KFunds for almost anything - home improvements, a holiday, medical expenses, shopping, or more.
Acorns Alternatives
Here's a list of alternatives to Acorns and how they compare:
| Lender | Reviews | Loan Amount | APR | Max. Loan Term | Bad Credit? |
|---|---|---|---|---|---|
| Fortuna Credit | View | $500 - $25,000 | From 4.99% | 24 - 60 months | Yes |
| PersonalLoans.com | View | $500 – $35,000 | 5.99-35.99% | Up to 6 years | Yes |
| BadCreditLoans | View | $500 – $5,000 | 5.99-35.99% | Up to 2 years | Yes |
| CashUSA.com | View | $500 – $10,000 | 5.99-35.99% | Up to 6 years | Yes |
| Fast5KLoans | View | $500 – $35,000 | 5.99-35.99% | Up to 5 years | Yes |
Should you take a loan with Acorns?
x
Read more Fortuna Credit reviews from customers below or add your own.
Apply for a loan now \u003eMore Acorns Personal Loan Reviews
What Users On the Web Are Saying
Fortuna Credit gets 3.9 out of 5 stars on TrustPilot. Reviews are generally positive and they are very responsive when it comes to negative reviews.
They have a five-star rating with 36 reviews on Facebook although most reviews don't seem to come from legitimate customers.
More User Reviews - Add Your Rating
Read more reviews on Financer from verified users below.
Have you used Fortuna Credit before? Leave your review now.
Our Commitment to Transparency
At Financer.com, we're committed to helping you with your finances. All our content abides by our Editorial Guidelines. We are open about how we review products and services in our Review Process and how we make money in our Advertiser Disclosure.
