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Interest & Costs

Flexibility & Terms

Website & Functionality

Support & Service

  • Personal loans $7,500 – $40,000
  • Funds within 72 hours
  • 2-5 years repayments
  • Aprs 7.00%-29.99%
Author  Lorien Strydom
Last updated: March 6, 2023
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Chosen 9,978 times
  • Fast Funding
  • APRs from 4.6%
  • High Acceptance Rate
  • No Repayment Penalty Fees
Chosen 13,543 times
  • Installment loans from $100 to $2,000
  • Apply with no impact to your credit score
  • Apply online or instore across 850 branches
  • Easy application process
Chosen 31,899 times
  • Loans from $250 - $35,000
  • Repayment terms from 6 - 72 months
  • Access to hundreds of lenders
  • APRs from 5.99%

FreedomPlus Review


  • Personal loans $7,500 – $40,000

  • Funds within 72 hours

  • 2-5 years repayments

  • Aprs 7.00%-29.99%

What is FreedomPlus

According to the Federal Reserve, with the average American household carrying $8,683 in credit card debt with an average APR of 14.99%, it’s apparent that some homes have overextended.

And this is where companies like FreedomPlus swoop in to save you money.

FreedomPlus allows you to rid yourself of those interest-sucking revolving credit cards with fixed-term loans that have more manageable interest rates.

But how does it all work, and how much can you save using FreedomPlus?

How FreedomPlus Works           

FreedomPlus works by gathering all your high-interest credit cards – you know, the ones that have a 26.9% APR – and issues you a loan to pay off the balances.

Unlike credit cards, which are revolving accounts that seemingly bury you in interest each month, the FreedomPlus loan is a fixed-term solution that has a specific end date and equal monthly payments.

Not only does a FreedomPlus personal loan give you that faithful light at the end of the tunnel, but it can also simplify your life by reducing the number of payments you have to remember to make.

Because FreedomPlus loans are personal loans, you do not have to use them just for debt consolidation. You can also use them for home improvement, weddings, vacations, moving expenses, and more.

    How To Get A FreedomPlus Loan

  • Apply online

  • Talk to a loan consultant

  • provide your valid government-issued ID

  • Verify your income

  • Provide a current bank account

  • Live in one of the 36 states FreedomPlus is available in.

FreedomPlus is available in 36 states excluding Colorado, Connecticut, Hawaii, Kansas, Maine, New Hampshire, New York, North Dakota, Oregon, Rhode Island, Vermont, Wisconsin, West Virginia, and Wyoming.

With this information in hand, head to the FreedomPlus website and click the “Apply Now” button. From here, you select how much you need to borrow, which can be anything between $7,500 and $40,000.

You then choose what you plan to use the money for; most will use this loan to consolidate debt, but there are nine other options.

Then you enter your estimated credit score, which you can get for free from sites like Credit Sesame or Credit Karma, your state, and other personal data.

Once you submit all the required information, FreedomPlus will tell you whether you are preapproved for a loan or not. If you are preapproved, a loan consultant will contact you via phone or email to go through the specifics of your loan offer.

Remember, a preapproval is not an approval, as you still need to go through a more detailed underwriting and qualification process.

How Long Does a FreedomPlus Loan Take?

According to FreedomPlus, it can make credit decisions the same day and deliver the funds to your bank account within 72 hours of you uploading all of your supporting documents and signing the contract.

Of course, this timeframe is not guaranteed, but it is a good barometer of how quickly you can expect your money if everything goes as planned.

What Are FreedomPlus’ Loan Terms?

If you qualify for a FreedomPlus loan, you can get excellent terms relative to using a credit card to pay for a large purchase or continuing to pay the minimum payments on said credit cards.

FreedomPlus’ loans are for two to five years and their APR ranges from 5.99% to 29.99%. There may be an origination fee on your loan of up to 5%, but there is no prepayment penalty if you pay off the loan early.

Financer.com review of FreedomPlus

At financer.com, we think that FreedomPlus is a good option if you want to consolidate credit card debt and or any other unsecured loans.

You are continuing with only one manageable payment per month, with a competitive interest rate.

Personal loans can be used in any way, shape, or form. Once in hand, the money is yours without restriction as to how you choose to use it.

    Cons of FreedomPlus

  • Potentially high APRs

  • No online chat available

FreedomPlus Disclaimer

All loans available through FreedomPlus.com are made by Cross River Bank, a New Jersey State Chartered Commercial Bank, Member FDIC, Equal Housing Lender.

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.

Eligibility for a loan is not guaranteed. Loans are not available to residents of all states – please call a FreedomPlus representative for further details.

The following limitations, in addition to others, shall apply: FreedomPlus does not arrange loans in: (i) Arizona under $10,500; (ii) Massachusetts under $6,500, (iii) Ohio under $5,500, and (iv) Georgia under $3,500.

Repayment periods range from 24 to 60 months. The range of APRs on loans made available through FreedomPlus is 5.99% to a maximum of 29.99%.


The APR calculation includes all applicable fees, including the loan origination fee. For Example, a four-year $20,000 loan with an interest rate of 15.49% and a corresponding APR of 18.34% would have an estimated monthly payment of $561.60 and a total cost payable of $7,948.13.

To qualify for a 4.99% APR loan, a borrower will need excellent credit on a loan for an amount less than $14,000.00, and with a term equal to 24 months. 

Adding a co-borrower with sufficient income; using at least eighty-five percent (85%) of the loan proceeds to directly pay off qualifying existing debt, or showing proof of sufficient retirement savings, could help you qualify.

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Reviews of FreedomPlus

FreedomPlus is rated 67 out of 316 companies in total rating and got an average review score of 4.5 based on 4 reviews. Their weakness is Interest & Costs and their strength is Support & Service.
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Hayley 2 reviews | July 21, 2019
Personal Loan Review
The process to apply was very easy
The interest rate was higher than the other options that I saw
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Richard J 1 review | July 21, 2019
General Review
Easy process, and I was approved within minutes for an amount great enough to consolidate all of my other debts to a much lower rate overall.
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Mark Choi 1 review | July 18, 2019
General Review
They had the fastest and easiest process I've seen. I had my approval faster than any other lender.
Ended up going with another lender who was a little cheaper, but their user experience wasn't nearly as good.
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Greg 1 review | July 18, 2019
General Review
Finally a good option for a personal loan that goes up to 40K. Lots of lenders out there who only go up to 25 or 30K. My loan was approved and funded even quicker than they said. Can't wait to finish my renovation project now.
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