Based in Atlanta, Georgia, Explore Credit is a limited liability company (LLC) and an entity owned by the Wakpamni Lake Community Corporation (WLCC), a tribal corporation. Explore Credit is licensed to offer financial services, including installment loans, to consumers who need a short-term funding solution.
The company prides itself on providing excellent customer service and having a simple online loan application process. Their loans come with quick funding times and no hidden fees.
Unlike some online lenders, Explore Credit also has a Loyalty Points Program that current borrowers can use to earn points whenever they make payments on their loan. These points can then be redeemed for a cash deposit into their linked bank account.
7.0
7.0
7.0
7.0
Explore Credit offers short-term installment loans to borrowers with poor or fair credit. They’re best for borrowers who need funds for a one-time emergency situation.
Borrowers can only take out one loan at a time. After paying off the first one, they can apply for a new one if needed. These loans range from $300 to $2,000, depending on the borrower’s state. They have no hidden fees and can be repaid early without penalty.
LOAN AMOUNT
$300 - $2,000
MIN CREDIT SCORE
550
FUNDING TIME
48 hours
ORIGINATION FEE
None
PREPAYMENT FEE
None
OTHER FEES
None
SOFT CREDIT PULL
N/a
LENDER TYPE
Direct
Pros & Cons
Personal Loans Types
Loan Purpose
Explore Credit offers short-term installment loans to borrowers who need them. This could be a financial emergency, home renovations, car repairs, or similar situations.
These loans come with flexible repayment terms and can be repaid in weekly, bi-weekly, monthly, or bi-weekly installments. Loan amounts range from $200 to $3,000. As with many other online lenders, the exact rates and terms are not directly stated online. Instead, they’re based on your application and creditworthiness.
To apply for an installment loan, start by heading to Explore Credit’s website. From there, choose the loan amount you need and click “Apply Now.” Next, select your state and loan purpose. Then, click “Start Application.”
You’ll then need to create an account using your email address, social security number, and date of birth. Once that’s done, you’ll need to provide some personal and contact information, such as your full name, phone number, driver’s license, military status, and mailing address.
Then, input your income and employment details. This includes your monthly income, income source (employed or self-employed), pay frequency and date, and whether you have direct deposit. It also includes your job title, employer’s name, and contact information. After that, provide your bank account information.
This will bring you to the final section of the application, the “Final Authorization.” At this point, Explore Credit’s automated system will review your information and give you their decision.
The entire process only takes about 10 minutes. If approved, you’ll receive funds in your bank account within two business days.
Welcome screen
To get a loan from Explore Credit, you’ll need some personal, banking, employment, and income information.
Explore Credit requires all applicants to provide certain identifying information. This includes a valid bank account, personal identification (ex. driver’s license number, SSN), permanent address, and employment information. You’ll also need to indicate how much you want to borrow and why.
Explore Credit is transparent about their loan products, requirements, licensing, and security measures. The website uses HTTPS, a standard encryption protocol used by many online lenders. The online loan application also follows standard security protocols.
The company may collect certain private information from their customers. This can include Social Security numbers (SSNs), driver’s license numbers, contact information, employment information, and banking information.
Explore Credit has a transparent privacy policy, which they encourage people to review before proceeding with an application. This document provides additional information about the types of information the company may collect, and how they use or share it. In all, this is also typical in the industry.
Explore Credit has several different ways to contact them, including an online chat form and phone number. The company also strives to provide excellent customer support.
If contacted during business hours, a representative typically answers in a timely manner. When contacted via email or online contact form, customers can usually expect a response within a couple of business days, if not sooner.
On Trustpilot, the company has 3.1 out of 5 stars and 679 customer reviews. Some of the positive reviews indicate that Explore Credit has transparent practices, only took the agreed-upon fees, good customer service, and a smooth lending process. Some of the negative reviews mention the difficulty in getting their information verified and high lending fees.
Explore Credit is a private lender that offers short-term installment loans to borrowers with limited financing options. This Georgia-based company has a fully automated online portal and easy loan application process. They operate under the Wakpamni Lake Community Corporation and are licensed to lend in 34 states.
One of the biggest drawbacks to this lender is that their financing options are limited. They are also not available in all states.
Overall, Explore Credit may be a good option for individuals who need a fast funding solution for emergency situations. They even have a loyalty program that rewards borrowers for making on-time payments for their loans.
“All installment loans are underwritten by WLCC Lending JEM doing business as Explore Credit. Explore Credit is a Native American owned business operating within the interior boundaries of the Pine Ridge Reservation of the Oglala Sioux Tribe, a sovereign nation located in the United States.
WLCC Lending JEM is an entity of the Wakpamni Lake Community Corporation (WLCC), a tribal corporation wholly owned by the Wakpamni Lake Community. The Wakpamni Lake Community is a local municipal subsidiary government under the Oglala Sioux Tribe. WLCC is incorporated under and governed by the laws of the Oglala Sioux Tribe, a federally recognized Indian Tribe, and the regulations of the Wakpamni Lake Community. WLCC operates independently of the Oglala Sioux Tribe. Correspondence should be directed to WLCC. As a tribal government, the Wakpamni Lake Community Corporation is a sovereign corporation and follows all applicable tribal and federal laws. State laws, regulations, and interest rates are not applicable to WLCC Lending JEM DBA Explore Credit or WLCC.
Typically, Explore Credit reviews your information in real-time to determine whether your information meets our lending criteria. You acknowledge that by completing and submitting the website application that you are applying for a loan. We verify applicant information through national databases including, but not limited to, Clarity and Factor Trust and we may pull your credit to determine your eligibility and ability to repay.
Explore Credit does not lend to residents of NY, PA, GA, NC, NJ, VA, MA, MD, AL, CT, AR, WV, NH, SD, AK, VT, Guam, Puerto Rico, and the US Virgin Islands. Availability of installment loans are subject to change at any time at the sole discretion of Explore Credit.
IMPORTANT INFORMATION ABOUT PROCEDURES FOR APPLYING FOR A LOAN – To help fight the funding of terrorism and money laundering activities, and to comply with Tribal law and the spirit of federal law requiring all financial institutions to obtain, verify and record information that identifies each person who applies for a loan, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask for your driver’s license number or other identifying documents.
*Certain events or changes to your information may impact your eligibility to receive a loan. If you no longer meet the pre-selection criteria, we may offer you a loan in a different amount or on different terms. If you reside in a state in which we do not provide services, you will be ineligible for a loan.
To obtain a loan, you must have a valid checking account, e-mail address, verifiable identity, and verifiable minimum income. Please Note: Installment loans should be used for short-term financial needs only, not as a long-term financial solution. Customers with credit difficulties should seek credit counseling. Explore Credit will only allow a customer to have one loan at a time.”
This website is an informative comparison site that aims to offer its users find helpful information regarding the products and offers that will be suitable for their needs. We are able to maintain a free, high-quality service by receiving advertising fees from the brands and service providers we review on this website (though we may also review brands we are not engaged with). These advertising fees, combined with our criteria and methodology, such as the conversion rates, our team of reviewer's finding and subjective experience and product popularity, impact the placement and position of the brands within the comparison table. In the event rating or scoring are assigned by us, they are based on the position in the comparison table, or according to other formula in the event specifically detailed by us. See our How we Rate page and Terms of Use for information. The reviews, rating and scoring are provided “as-is” without guaranties or warranties regarding the information contained in our website, which shall not be considered as endorsement. We make the best efforts to keep the information up-to-date, however, an offer’s terms might change at any time. We do not compare or include all service providers, brands and offers available in the market.
7.0
7.0
7.0
7.0
