Leap Credit Review

Leap Credit can help you get a loan fast. The company offers a wide range of installment loans that can be used for your everyday needs. Leap Credit provides simple, fast, and straightforward processes so that you can borrow money with ease. You can borrow up to $3,500 with affordable interest rates that vary depending on your state and other factors.

Leap Credit is an ideal way to get money quickly to help pay rent, medical bills, and other daily or emergency responsibilities. You can apply online and receive an approval within minutes. Most clients will receive their money within two business days. Loan terms and limits are based on your credit score. Currently, Leap Credit loans are only available in a select number of states. Read more to learn about Leap Credit loans and how they can help you today.

What is Leap Credit?

Leap Credit is an online loan company that provides installment loans that can be used for everyday expenses. According to the Leap Credit website, approximately 80% of Americans live paycheck to paycheck. This means that most people are living without a financial cushion to fall back on if they experience any obstacles. Leap Credit provides an opportunity for you to move forward if you need money quickly to keep life moving forward. They will also provide you with the assistance you need to get your finances back to where they should be.

Leap Credit partners with hard-working people who have full-time jobs but still need financial assistance. The company can help you out if you have been hit with an unexpected expense or a series of expenses, such as debt, medical bills, or increased rent. Leap Credit does not offer large loans. But they can help you restore your financial security to help you get back on your feet until your next paycheck. You can use Leap Credit if you have medical emergencies, home or car repairs, or unexpected life events.

The company states that they look through your credit score and income to provide individual help. They understand that your finances are no one’s business but your own. This is why they provide confidential and secure loans that keeps your business private. The company promises never to sell or share your loan information and they use cutting-edge security to keep your information safe. The Leap Credit process is simple, fast, and straightforward. All terms and conditions are disclosed upfront so you won’t be hit with any surprises after you get your money.

What Does Leap Credit Offer?

Leap Credit offers short-term installment loans of up to $3,500. An installment loan allows you to borrow money and pay it back in several payments of equal amounts. However, in some instances, the first and last payments might be slightly more or less money. This depends on the terms of your loan, which will be disclosed to you beforehand.

Leap Credit offers a wide variety of credit products to meet your daily financial needs. They provide a secure and transparent way to apply and get approved quickly for many short-term loans through an online application. At the time of this writing, Leap Credit only allows one installment loan per household.

Installment loans are meant to be short-term quick fixes if you run into a financial crisis. It’s important to note that installment loans are not a long-term solution. You might consider an installment loan from Leap Credit for a home repair or if you need to cover moving expenses. Installment loans are also helpful if you have an unexpected death in the family or a medical need arises. Short-term installment loans are similar to payday loans with a few key differences.

Installment loans are easier on your budget and financial institution. They feature a consumer-friendly process from the moment you apply to the time you pay off your loan. Installment loans tend to be a good alternative to payday loans and other high-cost loans for people with low credit scores. If you need money in a pinch, then there is no better option than an installment loan.

Currently, Leap Credit provides installment loans to people in the following states:

  • Alabama
  • Idaho
  • Mississippi
  • North Dakota
  • South Carolina
  • Wisconsin
  • Utah
  • Missouri
  • Texas

How Does Leap Credit Work?

To get a Leap Credit loan, you will first need to fill out an online application. You can also call 1-888-532-7842 to speak to someone directly. You will need to identify how much money you’ll need to borrow and review the payment terms to make sure you can repay them. Then your application will be submitted. If you are approved, the money will be transferred to your bank account within two business days.

When you pay back your loan, you will have the option to have money directly debited from your bank account or you can make payments manually. Leap Credit loan payments are the same each month so that you can always budget for them. The company states that they will help you if you cannot afford your regularly scheduled payments. All you have to do is contact them and explain your situation. Leap Credit does not penalize you if you are able to pay the loan back quicker than expected. This means that you can save money on interest by paying back as quickly as possible.

If you live in Texas and take out a $500 installment loan that is to be paid back over 24 months with an APR of 598.011%, then you can expect to pay back a total of $1,636.84 (if you pay on time). However, if you pay back the loan within two weeks, then you will only owe a total of $610.23. If you pay it off within one month, you will owe $754.36 total. Paying your loan off in two months will cost you $1,015.85 total and paying it off in three months will cost you $1,257.19 total. As you can see, the quicker you can pay back your loan, the more money you’ll save.

Here are the basic loan terms in the other states (all come with an 8 month loan term):


$2,000 to $3,500 loan amount and 293% to 795% APR range


$300 to $3,500 loan amount and 293% to 695% loan range


$300 to $2,500 loan amount and 695% APR


$500 to $$2,500 loan amount and 293% to 695% APR

North Dakota

$1,000 to $3,500 loan amount and 695% APR

South Carolina

$601 to $3,500 loan amount and 293% to 795% APR


$300 to $3,500 loan amount and 293% to 695% APR


$300 to $2,500 loan amount and 293% to 695% APR

Leap Credit: Pros and Cons

Leap Credit is very upfront about the fact that installment loans are not meant to be long-term solutions to your financial needs. A short-term installment loan from Leap Credit can help you if you’re in a pinch. Many people live paycheck-to-paycheck and cannot afford any emergencies. An installment loan can help if you experience a medical emergency, a death in the family, or need an emergency home or auto repair.

The maximum amount of money you can borrow is $3,500, depending on the state you live in and your creditworthiness. If you have a big project on deck or need to borrow more than this, then you will likely want to look at other options. Here is a list of pros and cons to consider before you apply for a Leap Credit installment loan.


  • All of your information is protected by Leap Credit’s privacy policy (your information won’t be shared with third party members)
  • Installment loans from Leap Credit are affordable, transparent, and feature the same amount every month (with the exception of maybe the first and last months)
  • Once approved, your funds should be deposited into your bank account within two business days
  • Leap Credit installment loans can help fund emergencies, such as home or car repairs, medical bills, or an unexpected death in the family
  • There are no prepayment fees (you can pay the loan off as quickly as you would like to save on interest)
  • You can use a Leap Credit installment loan to help get you by until your next paycheck
  • You can qualify for an installment loan even if you have bad credit
  • Leap Credit loans are easy to budget for


  • The maximum amount you can borrow is $3,500 or less, depending on your state and credit history
  • The APRs for an installment loan can be high (in Texas, the APR ranges from 459% to $695%)
  • The service is only available in 9 states currently

Tips For Paying Back A Leap Credit Installment Loan

Credit Leap offers short-term installment loans only. For this reason, it’s important to make sure you pay them back on time to avoid overpaying interest. Keeping your loan amount small and only borrowing what you need is crucial. Credit Leap makes it easy for you to budget for your loan by keeping your payments the same each month. Unlike payday loans, you can take your time when paying them back. Here are some other tips for helping you stay on track and pay back your installment loan.


Pay down the principal and interest.

Notice how your payments are set up while discussing your repayment terms with the lender. Usually, you’ll have to pay some interest in addition to the principal. Meeting your minimum payment can help you pay down your interest first and then principal. You can add money to your principal to pay off your loan much quicker by adding a few dollars to the minimum payment each month. This might seem like it’s not helping, but a little bit goes a long way.


Think about the length of your loan term.

Sometimes, you may be able to pay off your loan quickly and on time. If you are having trouble making payments, then talk to Leap Credit about extending your loan term. They will work with you to find an affordable plan that won’t put you at risk of missed payments.


Plan out your paychecks.

You can set up an installment loan that works with your paycheck and other financial responsibilities. Talk to Credit Leap about budgeting if you need help. They can adjust your payments so that only a small portion of your paycheck goes to your loan payment. You’ll also want to allow for some flexibility so that you can afford daily expenses.


Don’t get overwhelmed.

Remember that installments don’t need to be paid back all at once. You can pay them back over time. However, if you are able to pay your loan off at once, then you should do so to avoid interest. Set up an installment plan that fits your budget. Don’t be lax about the payment, either. Keep in mind that you’re accruing interest. The sooner you can pay it off, the better. Don’t stress.


You can apply even if you have bad credit.

Leap Credit looks at you as a whole person (and not just your credit score) when you apply. Don’t be scared to apply if you have bad credit. You may have to pay more in interest, but installment loans are ideal for emergency situations. That’s what they are there for.

How To Apply

Before you begin the application process, make sure you live in one of the following states: Alabama, Idaho, Mississippi, Missouri, North Dakota, South Caroline, Texas, Utah, or Wisconsin. At this time, Leap Credit only provides services in these states. To apply for a Leap Credit loan, you must have a bank account that accepts ACH transfers.

You must also be 18 years old to apply. You will need to provide your social security number, driver’s license, physical address, employment information, and bank information to apply. The application process only takes a few minutes. In most cases, you will get an answer right away if you are approved. Other applications may take up to two days to process.

After you are approved, you will need to sign your loan agreement. You can do this by logging into your Leap Credit account and reviewing the agreement. Then you’ll provide your first and last name as well as the last four digits of your social security number. For more information, you can watch a short video on the Leap Credit website if you need help signing your loan agreement.

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CreditNervana promises to keep our information as accurate and up-to-date as possible. However, you should always consult a financial advisor for specific questions about personal or business finances and investment opportunities, especially if you are looking in your area. Working with a trained professional who is familiar with your case is a safe and guaranteed way to make the best investment decision possible. Please review our terms and conditions before making any decision based on the information we provide. Financial institutions are constantly changing. Because of this, it’s a good idea to cross check the information you read here with any company you are considering working with.


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