Achieve Personal Loan Lender Review

Updated: February 14, 2024

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Achieve caters to a wide range of borrowers with a minimum credit score of 620. It stands out for its quick funding, flexible repayment terms, and lack of hidden fees. Personalized service with dedicated consultants and online tools like the GOOD App can enhance your borrowing experience. However, their maximum loan amount of $50,000 and origination fees may not suit everyone. Achieve is ideal for those needing fast, flexible funding and personalized financial guidance.

  • Achieve (formerly FreedomPlus)

    • 7.99% to 35.99%APR Range
    • 620Minimum Credit Score
    • $5,000 to $50,000Loan Amount Range
    • 24 to 60 monthsRepayment Terms
    • 24 to 72 hoursTime to Receive Funds

    Achieve stands out for their tailored approach to helping people manage their finances. One big plus is the flexibility they offer. With repayment terms ranging from 2 to 5 years, you can pick a plan that fits your budget without feeling rushed or pressured. That means you can balance your loan payments with your other financial responsibilities comfortably.

    Another highlight is the quick funding process. Once approved, you can get your funds within 24 to 72 hours. The speed is a real advantage if you need the money for urgent expenses or debt consolidation. It's like having a financial lifeline when you need it most.

    Achieve also offers personalized service. Their dedicated loan consultants work with you to understand your unique financial situation, ensuring your loan solution is just right for you. This kind of personalized attention can make a big difference, especially if you're new to managing loans or finances.

    Achieve's mix of flexible terms, quick funding, and personalized service makes it a strong choice for those seeking a personal loan tailored to their needs.


    • Flexible repayment terms (2 to 5 years)
    • Only requires minimum 620 credit score
    • Quick funding
    • Personalized service with dedicated loan consultants
    • Offers several discounts
    • No prepayment or hidden fees


    • Maximum loan amount isn’t as high as other lenders
    • Origination fees range from 1.99% to 6.99%
    • Not available in ten states
    • Limited face-to-face interaction for digital-first process
    Achieve (formerly FreedomPlus)

Features of Achieve Personal Loans

Achieve offers personal loans with clear benefits. You can use these loans for various needs like debt consolidation or major purchases. Understanding the loan terms, which explain how long you'll take to repay and the interest rate is key. Be aware of any fees, as they affect the loan's cost, but don’t forget to see if you qualify for any discounts. Good customer service and easy-to-use online tools make managing your loan simpler. Comparing these features helps you decide if Achieve fits your personal loan needs, ensuring you make an informed choice for your financial future.

What Can You Use Your Funds For?

Some lenders limit how you spend your personal loan. But with Achieve, you have the flexibility to meet various financial needs. Here’s a look at what you can do with your funds:

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    Debt Consolidation

    Combine various debts like credit cards, medical bills or other loans. This can lead to a lower overall interest rate and a single, manageable monthly payment, making it easier to budget and track your finances.

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    Home Improvement

    Whether you're planning to remodel your kitchen, fix your roof or landscape your garden, Achieve loans can finance these home upgrades. You can enhance your living space now without waiting to save up the full amount.

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    Major Life Events

    Life events, like a wedding, a significant anniversary or funding a child’s education, can be financially taxing. Achieve loans can help cover these costs, allowing you to celebrate without financial strain.

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    Vacations or Travel

    Are you dreaming of a European tour or a beach getaway? Achieve personal loans can cover travel expenses, helping turn your travel dreams into reality without the stress of immediate full payment.

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    Major Purchases

    If you need to buy high-cost items like a new laptop, furniture or a vehicle, an Achieve loan can help spread the cost over time, making it more manageable.

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    Medical Expenses

    Health care costs, whether planned or emergency, can be overwhelming. Achieve loans can help you manage these expenses, ensuring you get the care you need without the immediate financial burden.

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    Moving Costs

    Relocating can be costly, with expenses like hiring movers, renting a truck, or securing a new apartment. A loan from Achieve can ease this transition by covering these costs upfront.

Achieve’s personal loans offer the freedom to handle life’s various financial needs. Whether it’s consolidating debt, improving your home, or funding a significant life event, Achieve supports your journey with versatile funding options.

Loan Terms for an Achieve Personal Loan

Achieve offers loans ranging from $5,000 to $50,000, allowing you to borrow what you need, whether it's for a small project or a significant expense. The APRs, which include the interest and fees you'll pay on the loan, vary, but can go up to 35.99%. Remember, the lower the APR, the less you'll pay over the life of the loan. The origination fees, which are part of the APR, range from 1.99% to 6.99%.

You can choose a repayment period between 2 to 5 years (24 to 60 months). This flexibility lets you pick a monthly payment that fits your budget. Plus, you can set your payment date, making managing your loan and other financial responsibilities easier.

By understanding these terms, you can choose an Achieve loan that matches your financial situation, ensuring you can comfortably make the payments without straining your budget.

Fees and Discounts for a Achieve Personal Loan

While some lenders might have various charges, Achieve keeps it straightforward. They don't have hidden fees or penalties for early loan repayment, which is great for your peace of mind. That means you can pay off your personal loan early without incurring additional costs. However, Achieve does charge an origination fee, ranging from 1.99% to 6.99%. It’s part of setting up your loan and is included in the loan's APR.

Other personal loan lenders offer a discount when you sign up for automatic payments. Unfortunately, Achieve doesn’t have that. Instead, you may qualify for the following rate reduction options instead:

  • Qualified Co-borrower Discount: Adding a co-borrower with a good credit profile can lower your interest rate.

  • Retirement Asset Discount: Showing proof of funds in retirement accounts like 401(k), IRA, Roth IRA or TSP can earn you a discount.

  • Direct Pay Discount: Opting to let Achieve pay your creditors directly when consolidating debt can also lead to savings.

These fee structures and discounts are important to consider, as they impact the overall cost of your loan. Understanding them allows you to plan your finances better and possibly save money.

Achieve Customer Service

Achieve doesn’t just offer a loan — it also provides a team ready to support you. If you have questions or need guidance, you can call 1-800-920-0045 for expert help, where they have representatives always ready to assist.

What makes Achieve stand out is the personalized service. From the start of your application to receiving your funds, you can work with the same Achieve Loan Consultant. That means you have someone who understands your financial situation and can offer tailored advice. Plus, if you prefer digital communication, you can easily manage your loan application and track your progress through email or the Member Dashboard. Achieve ensures you have the support you need, exactly how you need it, making your loan experience smooth and stress-free.

Achieve Personal Loan Online Resources

The resources a lender provides can greatly help manage your finances. Achieve stands out with its helpful online tools and educational articles. Achieve's online pre-qualifying tool is a great start. It lets you explore loan options with a soft credit pull, which won’t affect your credit score. This tool helps you find the right loan without any stress on your credit health.

Achieve’s website has articles designed to educate you about personal finances. Whether you're learning about managing bad credit or using a personal loan for big purchases, these resources guide you in making informed decisions.

Then there’s the GOOD (Get Out Of Debt) App. It’s free, without ads and helps you manage your debt. The app performs a soft credit check, which allows Achieve to tailor a debt management plan for you and offer personalized financial advice without affecting your credit score. You can connect all your accounts for a complete financial picture. The app offers insights into your debts, suggests priorities for repayment and identifies potential savings in your spending. It even estimates when you could be debt-free based on your payment plans. These insights and the ability to adjust your spending and debt repayment strategies make the Achieve GOOD App an effective tool for managing your finances.

Qualifying for an Achieve Personal Loan

Understanding the eligibility criteria for an Achieve personal loan is key to setting realistic expectations and preparing effectively for your application.

First, Achieve requires a minimum credit score of 620, indicating that applicants should have a fair level of creditworthiness. While it doesn’t specify a precise income requirement, personal loan lenders typically look for a stable income source to ensure that borrowers can repay their loans.

If you’re aiming for the lowest possible APR (7.99%), there are specific conditions to consider. It’ll be more likely if you have excellent credit, request a loan amount less than $12,000, and choose a repayment term of 24 months. Additionally, including a co-borrower with sufficient income can strengthen your application. Using a substantial portion of the loan (at least 85%) is also beneficial to pay off existing debt directly. Demonstrating solid retirement savings can also be a plus point in your favor. These factors combined can significantly influence your eligibility for lower rates, making your loan more affordable in the long run.

Is an Achieve Personal Loan Right For You?

Deciding if an Achieve personal loan is right for you is a non-negotiable step to manage your finances wisely. An in-depth assessment helps you find a match that suits your financial situation and goals. By considering factors like loan terms, fees and eligibility criteria, you can determine if Achieve aligns with your needs. It ensures you choose a loan that’s manageable and beneficial in the long run. Think of it as matching your financial needs with the right financial tool, setting you up for a successful and stress-free borrowing experience.

Who Can Benefit from a Personal Loan from Achieve?

If you have a fair credit score, Achieve could be a great option. It only requires a minimum of 620, making their loans accessible to a wider range of borrowers, not just those with excellent credit. It opens up opportunities for those looking to improve their financial standing.

Borrowers in need of quick funds may find Achieve’s rapid funding process attractive. Once approved, you can receive your funds within 24 to 72 hours, making it an ideal lender choice for urgent financial needs.

Those who value personalized financial guidance will find a good partner in Achieve. Dedicated loan consultants will work closely with you throughout the loan process, offering tailored advice and solutions. This level of personal touch can make a significant difference, especially if you’re navigating through complex financial decisions.

Additionally, if you appreciate online resources and tools, Achieve's offerings like the GOOD (Get Out Of Debt) App and educational articles on their website provide valuable support. These can help you manage your loan effectively and make informed financial choices.

Who Shouldn’t Secure a Personal Loan From Achieve?

If you're seeking a large loan amount, Achieve might not be the lender for you. You can only borrow up to $50,000, which might fall short if you need more substantial funding. In such cases, exploring lenders who can offer higher loan amounts would be more beneficial.

Residents in states where Achieve does not provide loans also need to look elsewhere. Currently, it does not service Colorado, Connecticut, Kansas, Maryland, North Dakota, Vermont, West Virginia, Wisconsin and Wyoming. If you reside in any of these states, you'll have to consider other lenders that are accessible in your area.

Applicants preferring in-person interactions may find Achieve’s digital-first approach challenging. They focus primarily on online and phone-based customer service, which may not satisfy those who value face-to-face communication.

How to Apply for a Achieve Personal Loan

Applying for an Achieve personal loan is a process that benefits from your understanding and preparation. Knowing each step in advance can streamline your application, ensuring you have all the necessary details ready, and can potentially speed up the time it takes to receive your funds.

Here's a step-by-step guide to securing a personal loan from Achieve:

Begin the Online Application

Visit Achieve's website and complete the online application form. You’ll need to input your desired loan amount, state of residence and contact information. This is a quick and easy first step to get things rolling.


If you're pre-approved, this stage involves a soft credit pull, which won’t affect your credit score. It's an initial check to see if you might qualify for the loan.

Consultation (Optional)

You can choose to work through the remaining application process by email, or request assistance from an Achieve Loan Consultant. Their expert guidance can help tailor the loan to your needs, discussing term lengths, payment dates and rate discounts. Achieve’s loan consultants are available weekdays and weekends at specified times, ready to assist you.

Finalizing the Application

After deciding to proceed with the application, Achieve will conduct a hard credit pull, which is a more detailed credit check and may slightly impact your credit score. You’ll need to provide further information like proof of income, Social Security number, proof of identity and employment status.

Loan Decision and Funding

If everything checks out, you could receive a same-day loan decision. Following approval, the funds are typically sent within 24 to 72 hours. The quick turnaround means you can start using your loan for your financial needs almost immediately.

Being familiar with these steps lets you approach your Achieve loan application confidently and efficiently. It helps you ensure a smooth process from start to finish, helping you secure the financial support you need with minimal stress.

What to Do if You’re Denied

Being denied a personal loan from Achieve can leave you disappointed, but it’s far from the end of your financial journey. There are steps to understand this decision and improve your future changes.

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    Understand the Reasons for Denial

    It's important to know why your application was denied, which Achieve will provide reasons. Understanding these can guide you on what to improve.

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    Boost Your Financial Profile

    Work on improving your credit score by paying bills on time and reducing debt. Boosting your income, either through a higher-paying job or additional work, can also help.

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    Consider a Co-Borrower

    If you didn’t the first time, apply with a co-borrower, which Achieve allows. If he has a strong financial profile, you may even get more favorable rates.

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    Look for Alternative Financing Options

    Explore other lenders who might have different criteria. You can also consider other types of financing like secured loans, credit unions or peer-to-peer lending platforms.

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    Seek Professional Financial Advice

    A financial advisor can offer personalized advice on improving your creditworthiness and finding suitable loan options.

Remember, a loan denial isn’t a dead end. It can be an opportunity to reassess and strengthen your financial standing. Use this experience as a stepping stone to better financial health and future loan approvals.

Frequently Asked Questions About Achieve as a Personal Loan Lender

To help you understand more about Achieve as a personal loan lender, we've compiled a list of frequently asked questions. The answers can provide clarity and assist you in making a more informed decision.

Does Achieve have restrictions on how you can use your funds from a personal loan?
What is the minimum credit score requirement for an Achieve personal loan?
How long does Achieve take to approve a personal loan?
Does Achieve have a mobile app?
Is an Achieve personal loan secured or unsecured?
How much can I borrow using an Achieve personal loan?
What fees will I encounter with an Achieve personal loan?
How does applying for an Achieve personal loan affect my credit score?
Does Achieve offer an autopay discount for personal loans?
Can you have co-signers on an Achieve personal loan?

About Christopher Boston

Christopher Boston headshot

Christopher (Croix) Boston was the Head of Loans content at MoneyGeek, with over five years of experience researching higher education, mortgage and personal loans.

Boston has a bachelor's degree from the Seattle Pacific University. They pride themselves in using their skills and experience to create quality content that helps people save and spend efficiently.

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The content on this page is accurate as of the posting/last updated date; however, some of the rates mentioned may have changed. We recommend visiting the lender's website for the most up-to-date information available.

Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, lender or other entity. Learn more about our editorial policies and expert editorial team.