Beneficial Finance Review Summary
Those in need of a quick financial fix might like Beneficial Finance, a multi- service loan company. This lender is known for its ease of making loans, and this is one of the reasons that some reviewers like this company: It provides a place to turn when banks and other more traditional means of borrowing refuse to do business. But the feelings on Beneficial Finance are not very good overall, and reviewers point out the high interest rates and deceptive loan practices among the reasons to cross Beneficial Finance off your list of potential places to borrow funds. Comments vary widely with Beneficial Finance, with words like “The Home Equity Loan was Great but Had a High Interest Rate”, and “Beneficial has Unfair Lending Practices” among the several mixed comments directed toward this lender. It makes Beneficial Finance one of the less respected Mortgage/Financial Lenders around and certainly a company to think twice about before signing the loan papers.
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Beneficial Finance Comparison
Most HelpfulFavorable Review
My feelings about Beneficial are complicated because my situation was complicated when I first met them, back when I was mired down in credit card debt. I'm not a compulsive shopper -- nor even much of a shopper at all -- but when I first moved into my condo years ago I wasn't making much and had scraped...
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Most HelpfulCritical Review
Beneficial Finance Ratings and Reviews
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My latest experience with Beneficial reminded me why I don't like them. A client of mine has an error on her credit report. She was working with them to get it fixed. We called them together in my office, came to a satisfactory solution for both parties, and when she called back with her part of the deal they acted like they had never spoken to her. It's a mess. And it's making her life miserable! Definitely not a good experience!
Beneficial has helped me out alot over the years. Their interest rates are high, but when I needed money the most they were there to help me out, and I do not have good credit. I have had 2 personal loans with them and now currently have a loan on a piece of property that I bought. As long as I kept my payments up I usually had the opportunity about once a year to skip a payment. Even if I was a few days late with my payments they would report to the credit bureaus that I was up to date, which kept my score up. My loan officer would call every couple of months and see how things were...
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About eight years ago I refinanced with Beneficial with the deal with each year of on time payments my interest rate would lower. Since the branch was in our town I always dropped the payment off so when they closed that office I had to start mailing it & then they wouldn't always get it on time. Late payment was excused when I started having them take it out of my account every week. Weekly payments cut down on the duration of the loan & interest. Which was the reason that was set up in the begining. Although they have tried to get me to refinance with different programs I have stuck...
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