Selfservice Bright Lending (2024)

FAQs

Is Bright Lending a legit loan company? ›

Bright Lending is not accredited by the Better Business Bureau (BBB), and it has very poor reviews on its BBB page with an average 1.09/5 star rating. The BBB has received hundred of complaints against Bright Lending. Most of these complaints mention the predatory interest rates charged by Bright Lending.

customerservice@brightlending.com.

How do I make my payments? You can pay by ACH draft from your bank account on your due date (new and returning customers receive 25 percentage points off of the APR), or send a personal check, cashier's check, money order, or certified check to the address below on or before your due date.

Bright Lending is a tribal lender owned by the Fort Belknap Indian Community of the Fort Belknap Reservation of Montana, a federally recognized American Indian tribe.

Background. The case, filed in October 2023, documented experiences of over 40 Minnesota consumers led to take out small-dollar loans that charged interest rates multiple times above the 36 percent annual rate allowed under Minnesota law for lenders that issue payday or other small, short-term loans.

You'll likely be charged fees

Once your loan is due, a payday lender will withdraw the money from your bank account, if you've given them access as part of the loan agreement. If the debit doesn't go through, the lender may make multiple attempts to withdraw funds from your account.

We offer credit lines of up to $8,000. Once you apply for Bright Credit, our team will review your application. If your application is approved, you will get to know the exact credit limit you are eligible for via Bright Credit. You can use that amount to refinance your credit card debt.

Bright uses those funds to make your card payments or to build your savings with Bright. You can always adjust how much Bright moves into your Stash account, and once they're posted, you can withdraw them at any time, moving funds back to your checking account.

If you want to see what rates you may qualify for, its preapproval option only performs a soft credit pull, which won't impact your credit score. If you apply for the Bright Builder — the secured line of credit — there is no hard credit check or credit score requirement.

Your OneMain Financial BrightWay Card approval odds are good if you have a credit score of 640+, which is considered fair credit. Approval odds for the OneMain Financial BrightWay Card will also be influenced by your annual income and existing debts.

What credit score is needed for Bright money? ›

Good (660-799): A good Credit Score positions you well for Personal Loan approval and competitive terms. Fair (580-659): With a fair Credit Score, you may still qualify for Personal Loans but could face higher interest rates.

How do I cancel my loan? You may cancel your payment obligations under this Loan Agreement, without cost or finance charges, no later than 3:00 p.m. Mountain time of the next business day immediately following the Disbursem*nt Date.

Bright has partnered with Evolve Bank & Trust and CBW Bank, Members FDIC. All payments are logged with the US Federal Reserve, so your money is safe and returned to you if there are any issues.

Loans are typically funded as early as one business day. Please see our rates page & FAQ's for details. on a brighter path. Unlike traditional payday loans, a good payment history with us will lower your rates.

We don't perform credit checks with the three major credit reporting bureaus, but we may use alternative providers to verify identity data points and active military status.

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