Many or all of the companies featured here provide compensation to us. This is how we maintain our free service for consumers. Compensation, along with hours of in-depth editorial research, determines where & how companies appear below. Advertiser Disclosure

Many or all of the companies featured here provide compensation to us. This is how we maintain our free service for consumers. Advertiser Disclosure

Many or all of the companies featured here provide compensation to us. This is how we maintain our free service for consumers. Compensation, along with hours of in-depth editorial research, determines where & how companies appear below. Advertiser Disclosure

Many or all of the companies featured here provide compensation to us. This is how we maintain our free service for consumers. Advertiser Disclosure

New Credit America is a licensed consumer finance company that provides debt consolidation services and loans to assist individuals in managing their finances. They can be found online at



New Credit America Logo

New Credit America Summary

When it comes to loans, each person has their own requirements and likes. Some people may want to merge all their debt into one, while others might need some extra money to pay for something unexpected. With the abundance of loan providers, it can be tricky to pick the right one. Recently, New Credit America is gaining a lot of attention. But is this lender the right fit for you? To help you make the best decision, here is a detailed look at the services they provide.

Our research of their website and terms and conditions highlighted several significant points.

  • The interest rate varies between 19.99% – 29.7%.
  • The Annual Percentage Rate (APR) can go up to 29.99%.
  • A fee of up to 5% may be added to the loan’s base amount, resulting in an Annual Percentage Rate of up to 29.99%.
  • Cross River Bank, a bank that is chartered in New Jersey, is responsible for originating all loans.
  • New Credit America does not offer any assistance with debt settlement, financial relief, or credit repair services.
  • The length of the loan will be predetermined and based on your payment size.

Pros and Cons


  • New Credit America provides debt consolidation so that people with multiple debts can make their financial situation more manageable and decrease their payments each month.
  • This business offers personal loans for a variety of needs such as sprucing up your home, covering medical costs, and merging outstanding debts.
  • Loans from New Credit America are issued by Cross River Bank, a bank based in New Jersey and a member of the Federal Deposit Insurance Corporation, which provides assurance that the loans are backed by a reputable lender.
  • This business provides a second chance for people with poor credit ratings to obtain financing that may not be available from other sources.
  • It is straightforward to utilize New Credit America’s website, and individuals can submit an application for loans online.
  • The firm offers superb client assistance and boasts a helpful and well-informed assistance crew.


  • New Credit America charges a maximum of 5% for an origination fee, which may add to the overall cost of the loan.
  • The firm’s borrowing may have prepayment penalty charges, which can put off borrowers from settling their loans ahead of schedule.
  • Penalties may be charged if borrowers fail to make their payments promptly.
  • New Credit America does not offer services such as debt negotiation, debt relief, or credit repair services.

New Credit America Services

New Credit America provides two main services: debt consolidation loans and personal loans. Debt consolidation loans are available to those with multiple debts, enabling them to merge them into one loan, making their finances simpler and cutting back their monthly payments. Personal loans can be taken out for various purposes, including house renovations, medical costs, and other debt relief and consolidation.

What is New Credit America?


Established 9 years ago and based in Portland, OR, New Credit America is a licensed finance company that focuses on creating loan options tailored to their clients’ individual needs. Their goal is to help people all over the country to get back on their feet financially.

The Better Business Bureau has assigned New Credit America an A+ ranking, yet customers have provided it with an average of 1.8 stars out of 5 based on their reviews, with 7 grievances resolved in the past three years.

How does New Credit America work?

To start the process, you must enter your Client ID, date of birth, and Social Security number. Then press the button marked “Apply Now”. You will then be asked to fill out a credit application and sign it electronically. Lastly, you will need to authenticate your income, for which your online banking credentials will be required.

Once you have submitted your loan request, it will be reviewed by their verification staff. You will then be sent an email with a link to sign the loan paperwork.

How to qualify for a New Credit America loan

In order to finish your application, make sure you have the following details and paperwork ready.

  • Your full name.
  • Your phone number.
  • Your email address.
  • Your date of birth.
  • Your home address.
  • Your Social Security number.
  • Employment information (including proof of income).

Does New Credit America provide debt consolidation loans?

New Credit America provides debt consolidation loans as a major offering. This kind of loan can assist people with multiple debts to combine them into one loan, simplifying their financial situation and lowering their monthly payments. Cross River Bank, a New Jersey bank with FDIC membership, issues the loan, which could include an origination fee of up to 5% and an APR of 29.99%.

Does New Credit America charge an origination fee?

When looking for a loan from New Credit America, one should take into account the origination fee of up to 5% of the principal loan amount. This fee is to cover the expenses of processing the loan, and is added to the total loan cost, thus making the loan more expensive. It is essential to consider this fee when evaluating different loan offers from various lenders.

What is the APR for New Credit America loans?

The annual percentage rate (APR) charged by New Credit America for loans could be impacted by the loan amount, your credit history, and varius other elements. Generally, the APR is within the range of 5.99-29.99%. It is important to remember that the APR is inclusive of the interest rate and fees such as the origination fee, thus making it a more precise depiction of the total cost of the loan in comparison to the interest rate by itself.

What is Cross River Bank?

Cross River Bank is a New Jersey-based financial institution that is a part of the FDIC, giving it access to provide banking services to businesses and individuals. It works in collaboration with financial technology companies, like New Credit America, offering various loans and other financial products. Being a chartered bank, it is held to certain regulations from both state and federal organizations, guaranteeing it follows good banking practices.

What states does New Credit America operate in?

New Credit America works in a selection of states across the country. The exact locations that they serve may change over time. To make sure they operate in your state, it is recommended to visit their web page or contact their customer service staff.

How can I apply for a New Credit America loan?

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To apply for a loan from New Credit America, you can visit their website and fill out an online form. It is usually a straightforward and rapid process, and you can receive a response to your application in a few minutes. Here are the steps to take when applying for a loan from New Credit America:

  • Access the New Credit America website.
  • Press the “Apply Now” button located on the homepage.
  • Complete the digital application by providing your personal details, including your name, address, and social security number.
  • Give details concerning the loan application, like the amount of the loan and why it is being requested.
  • Send in your application.
  • Await a response regarding your request. Should it be accepted, you’ll receive details on the loan conditions, such as the rate of interest and any relevant fees.
  • Agree to the loan conditions, sign the loan contract, and give the lender any extra information they request.
  • The loan money should be accessible in your checking account in the range of 1 to 7 business days, depending on the size of the loan and the amount.

If you find you have any queries or require assistance with the application process, you can get in touch with the customer service team at New Credit America for support.

Does New Credit America provide credit repair services?

New Credit America does not offer credit repair services, instead they specialize in providing debt consolidation loans and personal loans. If you want to improve your credit score or repair your credit, there are other companies that specialize in this but you should be cautious as some may not be trustworthy. It’s best to do your research and read any contracts or agreements before working with a credit repair company.

New Credit America BBB Reviews

New Credit America has earned an A+ rating from the Better Business Bureau, with an average of 5 customer reviews and 7 complaints resolved in the last 3 years. However, customers have given the company a 1.8-star rating.

Here are some reviews:

1 star 2

They are a deceitful business. I borrowed 8k and agreed to ****** for 40 months. there was no paper contract just a phone conversation. After 39 months of paying for pets. they say I still owe 6k. And puts will go on to 58 months. That roughly computes out to charging me 8k to borrow 8k, totaling 16k to pay off the loan. I have paid ****** a month for 39 months only to have 2k of principal paid. This company scammed me and took advantage of my age and lack of understanding of technology.

Pamela T.


3 star

Buyer Beware. I suppose I could sum this up very simply. They offer a valuable service to folks who are not as financially savvy. It is often a fact of life that the people who can least afford absurdly high-interest rates are the ones who are not creditworthy enough to get lower ones. That being said this company is just plain greedy. It is one thing to offer a service and advertise it as a helpful step towards independence, and then end up charging nearly 30% interest on that money. I do not deny any company the right to make money, but at some point, they become predatory, and this is such an example. I have seen more than one comment like this, and this is not the only one of these vultures who prey on those in a bad situation and make it worse. DO YOUR HOMEWORK. Don’t get trapped into an absurdly high monthly payment for an extraordinarily long term. Don’t let them fool you, the only thing they care about is lining their own pockets.

David T


3 star

I call to negotiate for help with my payments and they take the negotiated amount plus the original amount owed. With COVID-19 affecting my life in money constraints, this was not an expected thing to occur. I am now late on other bills like electricity and water, which are more important to me in my eyes. They need to realize they are hurting people when they are already hurting.

Mandi C


New Credit America FAQ


How much does New Credit America charge?

New Credit America has appealing interest rates that span from 19.99% – 29.7%. The Annual Percentage Rate of their loan could go as high as 29.99%. An origination fee of 5% might be included in the total loan amount.

Are there any pre-payment penalties?

No prepayment fees are charged by New Credit America, so you have the option to pay off your loan ahead of schedule without having to face any kind of penalty. This makes it an ideal choice for those who desire the liberty to settle their debts as they please.

How does New Credit America affect your credit?

Before obtaining a loan, it is important to take a few factors into account, such as your credit rating. Most lenders will run a soft credit check to determine the potential interest rates and loan terms you may be eligible for. This process will not have an impact on your credit score.

Once you submit a loan application, the lender will conduct a hard credit check to gain a complete overview of your credit history and give you final interest rates. Unfortunately, these hard checks can bring down your credit score.

What is a debt consolidation loan?

A debt consolidation loan is designed to help streamline your finances and lower your monthly payments by paying off multiple debts at once.

How does a debt consolidation loan work?

A debt consolidation loan allows you to combine your existing debts into one loan, which in turn simplifies the process of managing your payments as you will only need to make one payment.

What is an origination fee?

A charge that lenders impose to cover the expenses of loan processing is known as an origination fee. It usually is a proportion of the loan sum.

What is the APR?

The yearly interest rate, also known as the annual percentage rate, is all expenses related to the loan, such as interest and charges, expressed as a portion of the loan amount.

What is a prepayment penalty fee?

Lenders impose a prepayment penalty fee if a borrower pays off their loan before the agreed upon time; this discourages people from paying off the loan early.

What is a personal loan?

A loan that can be applied to a variety of needs by consumers, such as home renovations, medical bills, and debt consolidation, is referred to as a personal loan.

What is financial freedom?

Financial freedom is the state of being able to live without worrying about money or financial health. It means having sufficient funds to cover one’s expenses and reach desired goals without being restricted by financial worries.

Do I need a checking account to apply for a loan from New Credit America?

Yes, in order to receive funds from New Credit America, you must have a checking account as the money will be directly deposited into it.

What happens if I don’t make my loan payments on time?

If you fail to make your loan payments within the specified period, you may be subject to charges and it could negatively affect your credit rating. Furthermore, creditors or the lender could choose to take legal action to reclaim the outstanding debt.

Does New Credit America offer any financial education resources?

Indeed, New Credit America has a blog that supplies financial literacy materials, information and advice for controlling your money.

How to cancel New Credit America

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It is crucial to make a well-thought-out decision before taking out a personal loan because once the money is transferred to your account, it cannot be reversed or retracted. Being sure of your decision beforehand can help ensure you prevent any issues in the future.

Are you having trouble making enough money to pay your bills? Here are some tips that might help you get back in the black.

  • Constructing and adhering to a budget is a critical step to take when managing your funds. This will help stop you from over-extending yourself and will allow you to make more informed spending choices.
  • A financial consultant is a great resource to use if you want to get your finances in order. They can evaluate your current finances and provide tailored advice on how to proceed, depending on your specific situation.
  • Don’t worry excessively about debt. There are many organizations that are open to helping customers develop a reasonable payment plan. Contact their customer service department to find out more.

Is New Credit America legit or a scam?

For almost a decade, New Credit America has been aiding individuals in eradicating their debt. They give consolidation loans to clear your debt and boast an A+ rating from the Better Business Bureau. Nevertheless, customers have only given the company an average of 1.8 stars out of 5 and there have been 7 grievances dealt with in the last three years.

Prior to obtaining a loan, it is wise to consider the associated interest rate and repayment parameters. Investigating and looking at the rates from different loan providers can be advantageous to help you get the most beneficial rate. Additionally, reading customer feedback can provide a clearer picture of which loan is suitable for you. Doing this should help you bypass taking out a loan outside of your financial means.

Have you worked with New Credit America? Leave your experience and review below!

Thank you for reading!

New Credit America Review
  • New Credit America

New Credit America Summary

For nine years, New Credit America has been assisting individuals to reduce their debt. They specialize in consolidating loans, and they boast an A+ mark from the Better Business Bureau. Unfortunately, their customers have rated them a mere 1.8 out of 5 stars, with 7 complaints addressed within the last three years.

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Oscar Smith is a finance and tax journalist with over 10 years of experience covering personal finance, taxes, and investing. He has contributed to a variety of publications over the years. With a passion for demystifying complex financial concepts, Oscar's goal is to help readers make informed decisions about their money.

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