Frequently Asked Questions
We’re an online lender dedicated to helping borrowers improve their financial lives. Our transparent and fair lending products encourage borrowers to demonstrate responsible credit management behaviors and reward them by lowering the cost of borrowing.
We offer unsecured personal loans that you can customize by adding the RateRewards programs:
- Ascend Personal Loan. A standard personal loan, with a low APR and a monthly payment that will never change.
- RateRewards Program. An innovative rewards program that allows borrowers to lower their interest cost up to 50% each month by demonstrating responsible financial behaviors.
To qualify for an Ascend Loan, you must:
- Be at least 18 years old, or minimum age to enter a contract in your state
- Apply by yourself (no joint applications)
- Have a valid email account
- Have a verifiable name, address, date of birth, and social security number
- Have a primary checking account from a depository institution with a minimum of 3 months of transactions
- Have not previously applied for or paid off a loan with Ascend in the past 6 months
- Must be a resident of a State in which Ascend currently lends
You must also display the following credit characteristics:
- Have verifiable independent income over $35,000 (minimum of two-year verifiable income if self-employed)
- Have a minimum FICO credit score of 580
- Have no delinquencies in last 3 months
- Meet our other underwriting scoring criteria that use a variety of credit report and other financial factors to assess and score your credit risk
RateRewards is an optional rewards program targeted to better borrowers that you can add to your Ascend Personal Loan to earn a discount up to 50% off your interest cost. When you upgrade your Ascend Personal Loan with RateRewards, you’ll be given a base APR and payment schedule. This represents the most you’ll ever pay per month. From there, you can earn up to a 50% discount off your interest cost.
Best of all, you can start earning rewards right out of the gate by doing the following:
- Paying on-time for all your debt accounts
- Increasing your savings balances
- Paying off your overall debt
- Spending on debit instead of credit
- Pledging an auto title as collateral against your loan
Based on how you do each month, you’ll earn a monthly RateReward discount rate. This discount is applied to your interest cost for the month, reducing your interest cost and monthly payment* by that amount. Learn more * We will use our best efforts to calculate RateRewards such that they can be used to reduce the monthly payment. However, in certain circumstances this may not be possible. In such cases, the RateRewards will be applied as an interest discount to your loan without reducing the monthly payment, usually resulting in a higher principal payoff.
At Ascend Consumer Finance, we match your loan offer to your unique financial situation. Your loan offer may range from $2,600 to $12,500 based on your State of residence, credit score, employment history, and ability to repay.
We are committed to a transparent and easy-to-understand fees. The only fees you will ever pay is the interest accrued on your loan (and NSF and late fees if applicable). We'll never charge you additional or hidden loan fees like application fees, membership fees, or prepayment fees.
Late fees may apply if a scheduled payment is missed. NSF fees may apply if a scheduled payment is returned unpaid by your bank.
At Ascend Consumer Finance, we make it easy and convenient to pay back your loan through electronic fund transfer from the checking account you designate. We’ll pull the money on the schedule you choose so you never have to worry about forgetting a due date again. If you prefer, you can send us a paper check by your payment due date.
Absolutely. There are NEVER any penalties for early payments and you only owe interest on the amount that accrues before your loan is paid in full.
To update your personal information, just follow these simple steps:
- Sign into your account
- Click on the "Setting" tab
- Click on the “Change Password” or “Change of Address” link
- Enter your new information and save your changes
We use 256-bit encryption to protect the data that you have provided as part of your loan process. Our data access policies ensure that only employees or our trusted service providers who would need to interact with this data can access it—all others can only see summary data. Wherever possible, personally identifiable data is linked to sensitive information through an encrypted token, ensuring that any data used for analytics cannot be matched to any individual borrower.
If you own your car and have possession of your title, you can pledge it against your RateReward loan to reduce your interest expense by 20% each month. To sign up for this reward, call our customer service line at 800-497-5314. They will have you send in your title and we will register it against your loan. While your loan is outstanding, Ascend will hold on to your title. When your loan is paid off, we will return your title.
We validate information such as your personal identity, employment history, bank information, income, and conduct a final credit criteria review. We make every effort to do this as quickly as possible. Once your information has been validated and your loan is approved, we submit an order to fund your loan.
Linking your bank account provides Ascend with “read only” access to your account so that we can retrieve your bank account and routing numbers as well as review your account history. If you choose a RateReward loan, we will also review your bank account each month so that you can earn a RateReward when you increase your account balance by the required amount.
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