SuperMoney Personal Loans Review
Started in 2013 and based in California, SuperMoney is a marketplace platform that aims to connect borrowers to lenders with ease. Like other marketplaces that facilitate comparison shopping, SuperMoney partners with lenders offering a wide range of products, like personal loans, auto loans, private student loans, debt consolidation loans, tax relief services, and pretty much any and every financial service you may need.
What makes SuperMoney special is their website’s transparency when it comes to the lenders they partner with. Most marketplaces require you to first submit your information before showing you rates. With SuperMoney, they show you a list of lenders for the product you’re interested in along with their information, like APR range, repayment terms, fees and even the lender’s reviews. This is super useful if you want a quick glance before submitting any of your personal information.
You can even add filters when viewing their list of lenders to narrow down the list, like your credit score, income, desired loan amount, and so on.
SuperMoney Loan Types and Terms
|Loan types||Auto loans, auto title loans, business loans, payday loans, personal lines of credit, personal loans, private student loans|
|Repayment terms||3-84 months|
|Minimum credit score||No minimum|
|Lender type||Marketplace lender|
Who is SuperMoney Good For?
SuperMoney is a hub for all kinds of financial services, including personal loans. They make lender comparison shopping incredibly easy by providing an effortless online experience.
Instead of having to submit your personal information to yet another lender or marketplace who will then bombard you with calls and emails, you can just visit their webpage, apply some filters, and get a quick, general idea of which lenders have something to offer based on your profile. They also show lender reviews based on SuperMoney’s users.
So let’s say you’re shopping for a personal loan, visit their personal loans page. You’ll see a button on the left that says “Filter”. If you add these filters—credit score of 400, an income of $40K and available in the state of Florida—you’ll automatically see a list of lenders who have a personal loan that meets that criteria. It’s not a guarantee that you’ll qualify, but it sure helps when doing some quick comparisons.Get my rate
- Lender transparency
- Great customer service
- Large network of lenders
- Offers personalized rates
- Personal loans available in all 50 states
- No phone customer support
- Not a direct lender
- Needs more users for the Recommend/Do not recommend lender feature
If you want to get a better idea of what rates you qualify for and from what lenders, you can submit a preliminary application form, which takes just a few minutes to complete.
You can begin by visiting the SuperMoney website and selecting your financial goal from their list, like “Finance a Purchase”. Select “Personal Loans” and then the “Get Offers in Seconds” button (you’ll find this button when you visit other pages).
Next, you’ll answer a few general questions, like what you need the loan for, how much you want to borrow, your credit score, employment status, your social security number and so on. They only run a soft credit check at this point. It’s only when you accept an offer with a specific lender that a hard credit check will be conducted.
This pre-application process will take about 3 minutes to complete. By the end of it, you’ll be taken to a page with a list of personal loan offers from different lenders in their network. This information will include the lender’s name, the APR, repayment terms, and fees.
In the additional details section, you’ll also see if SuperMoney recommends this lender based on their SuperMoney’s user reviews. This isn’t very reliable, however, unless there are a lot of “votes” (reviews). For example, SuperMoney lists the lender Prosper as “Mostly not recommended” for personal loans, but this is only based on 19 user reviews, which isn’t much.
If you decide to accept a loan offer from one of the listed lenders, you’ll be directed to their website where you can finish the application process. This may require additional information, like tax or bank statements.Get my rate
Terms & Requirements
Let’s take a quick look at some of the terms and requirements when securing a personal loan through a SuperMoney lender.
- Must be a US citizen or permanent resident
- Must have some income and a bank account
- Loan requirements, like credit score range, will vary depending on the lender
- Loan amounts range from $150-$100,000
- APR ranges from 4.99% – 35.99%
- Types of loans offered include auto loans, auto title loans, business loans, payday loans, personal lines of credit, personal loans, private student loans
- Repayment terms are between 3-84 months
- Since SuperMoney is a marketplace and not a direct lender, they offer a wide range of repayment terms
Privacy & Security
Similar to other marketplaces and lending institutions, SuperMoney will share your information with their partners and affiliates, which you can opt out of at any time. They have technological safeguards in place to protect user data.
SuperMoney partners with reputable lenders who have been in the industry for years, like SoFi, LendingClub, Quicken Loans, LightStream, and more. Once you decide to do business with one of these lenders, all communication will be through that lender and not SuperMoney.
While SuperMoney has limited customer support (email only, no phone), they were quick to reply to our email inquiry about their personal loans. The customer service agent was friendly and informative.
For borrowers who care about having the best customer service experience, it’s important to review a lender before finishing your application, since you’ll be working with them moving forward.Get my rate
SuperMoney has an impressive lineup of lending partners and a wide range of financial service offerings, including personal loans. Their pre-approval application is online and takes just a few minutes to fill out to view your personalized rates.
Overall, SuperMoney is an impressive loan marketplace. Their comparison shopping tools and lender filter have made it as easy as possible to quickly compare lenders, see rates and terms—all without even having to submit any of your information, which many marketplaces don’t offer.
3100 S Harbor Blvd #190, Santa Ana, CAGet my rate
**The Annual Percentage Rates (APR), interest rates, loan types, loan terms, loan amounts, origination fees and other terms provided in this website are estimated based on information you provided, data offered by partners, and publicly available information. All information is presented without warranty, and the estimated APR, terms and other features are not binding in any way. Lenders offer a range of APRs and loan programs depending on your credit history, income, and other factors. Only borrowers with excellent credit qualify for the lowest rates. Your actual APR will depend on your credit score, loan amount, term, income, and credit history. All loans must be reviewed and approved by the lenders.
† To check the rates and terms you qualify for, one or more soft credit pulls may be done by SuperMoney, and/or SuperMoney’s lending partners, that will not affect your credit score. However, if you choose to continue your application at a lending partners’ website or by phone, they will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.