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Review of Blue Trust Loans
Loans from $100 to $3,000
Repayment period of up to 6 months
Higher APR rates
Rewards customers in good standing with better rates.
Summary
What is Blue Trust Loans?
Blue Trust Loans is a tribal lender that is owned and operated by the Lac Courte Oreilles Band of Lake Superior Chippewa Indians.
Blue Trust Loans offer personal installment loans between $100 to $3,000, although first-time borrowers will be limited to $1,200.
Installment loans from Blue Trust Loans typically have a high APR — usually between 471.78% to 841.45%. Loan terms can be up to six months.
Blue Trust states that it is a better alternative to a traditional payday loan.
Chosen 15,861 times- Loans of up to $3,000
- Repayment period of up to 6 months
- Higher APR rates
- Rewards customers who are in good standing
Read 17 reviews
How Blue Trust Loans Work
The moment you arrive on the website, you see an offer to apply for a loan of up to $3,000 that will be deposited into your bank account as soon as the next day.
Blue Trust Loans does not offer loans to Active Duty Military, their dependents, or spouses. In addition to this, loans are not available in all states.
Note: Blue Trust Loans does not fund loans in these states: Arkansas, Connecticut, Georgia, Hawaii, Massachusetts, Minnesota, New York, Pennsylvania, Vermont, Virginia, Washington, Wisconsin, or West Virginia.
Loan Requirements
Here are the loan requirements when applying for a loan:
- Be at least 18 years old
- 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.
Rates & Fees
APR rates range from 4.71.7846% to 841.4532% depending on the loan origination fees and the duration of the loan.
There is no cost to use the Blue Trust Loans website and there may be a loan origination fee, which will be disclosed in the terms prior to accepting the loan.
Chosen 15,861 times- Loans of up to $3,000
- Repayment period of up to 6 months
- Higher APR rates
- Rewards customers who are in good standing
Read 17 reviews
Payment Terms
Loan repayment terms range from 270 to 300 days.
Failure to make repayments on time will incur late fees and penalties, as stated in the loan agreement. Loans may be paid in full with no early payment penalty.
How To Apply for a Loan with Blue Trust Loans
Step 1
Fill out the online application
Completing the online application takes only a few minutes and if approved you can eSign your documents immediately.
Step 2
Verify your information
A customer service representative will call to verify you rinformation, or you can call them 24/7. Once your details have been confirmed you will receive a copy of your loan agreement via email.
Step 3
Receive your funds
The money will be deposited into your bank account as soon as the same day.
Blue Trust Loans are convenient for borrowers that need cash quickly but don’t have time to complete an in-person loan application.
All documents are eSigned after approval, so the loan can be finalized.
When performing a Blue Trust Loans review, you’ll find that it doesn’t specify income requirements or checking account duration.
This information will be provided by the representative once the loan request is made.
Our Blue Trust Loans Review
Loans up to $3,000 for existing customers
Fast online loan application process
Early repayment without any penalties
Reliable customer service
Pros
APRs may be on the higher side
Loans are not available in all states
Cons
Blue Trust Loans is different from payday loan lenders because it offers installment loans that give the customer six months to pay it back in full.
Instead of applying an interest rate, the loan costs the customer for every $100 borrowed, and this is charged monthly, biweekly or weekly.
Fortunately, the option is there to pay back the loan early to save money.
You’ll also find during a Blue Trust Loans review that the company is operated by Hummingbird Funds, LLC, which is a sovereign enterprise of the Lac Courte Oreilles Band of Lake Superior Chippewa Indians.
Loans serviced by this tribe-regulated entity are not subject to government oversight.
While the American Indian Tribe is recognized by the federal government, any complaints are resolved using Tribal Law and the loan agreement.
This is something to consider carefully before signing up for this fast and completely legitimate loan option.
Is Blue Trust Loans Safe?
Yes. Blue Trust Loans is a member of both the Native American Financial Services Association and the Online Lenders Alliance.
The privacy policy of Blue Trust Loans outlines how they collect and share your personal information, which can include your bank account information, Social Security number, or credit history.
You can choose to limit some of this sharing by contacting their customer service department. The Blue Trust Loans phone number is 1-877-770-2682.
Blue Trust Loans FAQs
What happens after I complete the application?
Your application is reviewed and a customer service representative may contact you to verify your information. You’ll need to eSign your loan agreement and your money will be deposited no later than the next business day. Once your loan is approved, you may also become a member of the Club Blue Rewards Program.
How soon will I get my money?
Once your loan is finalized, the money will be deposited into your bank account usually the same day, or at the latest the next business day.
What is the maximum loan amount available?
First-time customers can quality for up to $1,500 and returning customers can qualify for up to $3,000.
When should I repay my loan?
Payments are due on the scheduled payment dates, which is usually in line with your salary date. Most installment loans are up to 9 months for new customers but you may pay in full earlier without penalty.
Can I pay back a loan early?
Yes, you can pay back your loan earlier without any penalties.
What happens if I can’t make a payment?
You should contact a representative as soon as possible to explore alternative payment arrangements to remain in good standing.
What will a loan cost?
Below is the typical cost for new customers based on the rates per $100 borrowed:
Weekly Pay Period | Bi-Weekly Pay Period | Semi-Monthly Pay Period | Monthly Pay Period | |
|---|---|---|---|---|
up to $14.75 | up to $29.50 | up to $29.50 | up to $59.00 |
What is the Blue Trust Loans login?
You can log in to your account on their homepage.
