Is Red Arrow Loans Legit? Uncovering the Truth

Is Red Arrow Loans Legit?
Is Red Arrow Loans Legit?

Is Red Arrow Loans Legit: Red Arrow loans are valid loan services done mostly as online services. They mostly offer personal loans for individuals who have poor or zero credit. Red Arrow services are not a scam, but one must research every online lender before applying for any services.

Before applying to any online loan program, complete research should be done as there are multiple scam services around the internet. Always be cautious before submitting your personal information to these services.

Also Read: What is a cup loan?

Is Red Arrow loans legit?

Red Arrow loans are really trustworthy. They are most useful for those individuals having zero or poor credits. However there are some mixed reviews about the services, some individuals rate negative and some rate positive.

Reasons Red Arrow Loans is Considered TrustworthyNegative Reports About Red Arrow Loans
Licensed and registered lender operating in multiple statesSome borrowers reported being charged hidden fees, like origination and late payment fees
Positive reputation on third-party review sites (SuperMoney: 4.3/5, Trustpilot: 3.8/5)Difficulty in contacting customer service reported by some borrowers
Transparent loan application process, disclosing all fees and terms beforehandApproval for loans not qualified for, leading to high interest rates and late fees reported by some borrowers

Pros & Cons of Red Arrow Loans

Pros of Red Arrow LoansCons of Red Arrow Loans
Easy and fast application processHidden fees like origination and late payment fees
Flexible repayment optionsUnfriendly customer service
Lower interest rates compared to othersSome borrowers have given negative reviews

How do you know if a loan offer is legit?

If you are unaware of whether the loan is legitimate, you should always be cautious while processing loan requests. One should not provide any personal details to the lender. You can also report suspected scams to the Federal Trade Commission (FTC).

The below table will describe whether your lender is offering legit loans or not.

Signs of Legitimate Loan OffersRed Flags for Potential Loan Scams
The offer seems too good to be true – If it sounds too good, it’s likely a scamGuarantees of loan approval – Reputable lenders cannot guarantee approval
Physical address and phone number provided; caution with only a P.O. boxDemands upfront payment – Legitimate lenders don’t require upfront payment before approval
Website with clear, concise information; watch for poorly designed sitesPressure to act quickly – Scammers may rush you into decisions without time for consideration
Positive reputation on third-party review sites (e.g., Trustpilot, BBB)Offer seems too good to be true – If it sounds too good, it’s likely a scam

Red Arrow Loans Interest Rates

Red Arrows loans usually range from 14.99% to 449% APR. These interest rates depend on the creditworthiness and the loan amount. Your credit score is directly proportional to the interest rates, as the higher your credit score lower your interest rates.

Credit Score RangeAPR Range
670 to 71914.99% to 24.99%
640 to 66924.99% to 34.99%
620 to 63934.99% to 44.99%
580 to 61944.99% to 49.99%
Below 58049.99% to 449%

Factors that can affect your interest rates:

  1. Interest rates are dependent on loan amount, the higher the loan amount higher be interest rates.
  2. Also the longer the loan term leads to higher interest rates.
  3. Your interest rates will be lower if you offer collateral such as a car or a home.

Note: Red Arrow Loans will consider your credit score, income, debt-to-income ratio, and other factors when determining your interest rate.


Is Red Arrow Loans a legitimate lender?

Yes, Red Arrow Loans is a legitimate online lender that is licensed to operate in multiple states.

What are the interest rates for Red Arrow Loans?

Interest rates for Red Arrow Loans range from 14.99% to 449% APR, depending on your creditworthiness and the loan amount.

Are there any hidden fees associated with Red Arrow Loans?

There have been some reports of hidden fees associated with Red Arrow Loans, such as origination fees and late payment fees.

What is the customer service like for Red Arrow Loans?

There have been some mixed reports about Red Arrow Loans’ customer service, with some borrowers reporting positive experiences and others reporting negative experiences.


On the whole, Red Arrow Loans are legit loans providing services to individuals having poor or zero credit scores. They received mostly positive reviews from the borrowers for their transparent loan application process. However, they have high interest rates depending on the loan application which also includes hidden fees.

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