About 12 million Americans use short-term loans every year. This means that the need for trusted and reliable lenders has never been higher.
Our readers who want to stay away from scam lenders with unfair loan terms should consider getting help from BlueTrustLoans. This is a legit US lender that offers installment loans as an alternative to payday loans.
If you want to learn more about the lender, its rates, and qualification criteria, please read further our honest Blue Trust Loans review. Our team of loan experts covered all critical points to help you make well-informed borrowing decisions.
Table of Contents
- 1 Introduction To Blue Trust Loans
- 2 Types Of Loans Offered By BlueTrustLoans
- 3 Advantages And Drawbacks Of Borrowing From Blue Trust Loans
- 4 How To Get A Loan From BlueTrustLoans?
- 5 Rates And Repayment Policy
- 6 Who Should Apply For BlueTrustLoans Offers?
- 7 Is Blue Trust Loans Legit And Safe?
- 8 BlueTrustLoans – Bottom Line
Introduction To Blue Trust Loans
Hummingbird Funds LLC is the owner of Blue Trust Loans. This sovereign enterprise is wholly owned and controlled by the Lac Courte Oreilles Band of Lake Superior Chippewa Indians, a sovereign American Indian Tribe. In other words, the Blue Trust Loan company is a tribal lender and operates under tribal regulations.
Types Of Loans Offered By BlueTrustLoans
Unlike other lenders such as CashNetUSA that offer various types of loans, Blue Trust Loans sticks to installment loans only. These come with fixed payments and a repayment period of up to nine months. For example, borrowers who get paid twice a month will have to cover a total of 18 payments within nine months.
The tribal lending star provides funding between $100 and $2,500. The maximum loan for first-time applicants is limited at $1,475.
Advantages And Drawbacks Of Borrowing From Blue Trust Loans
Now that we answered the crucial “is Blue Trust Loans legit?” question, it’s time to go over the pros and cons of borrowing from this lender.
First, let’s take a look at what makes BlueTrustLoans an excellent option for Americans who need installment credit.
- Fast and online applications;
- Repayment time up to nine months;
- No prepayment penalties;
- 100% safe and secure;
- Better terms for returning customers;
- Same-day approvals and funding possible;
- Exclusive rewards program Club Blue;
- Fixed payments.
It goes without saying that these are impressive advantages. Yet, a quick look at the Blue Trust Loans address and loan offer reveals several drawbacks too. These aren’t too serious and shouldn’t change your mind from applying for a loan from the provider. Still, it’s smart to read them carefully and know what to expect.
- High APR between 417% and 841%;
- Installment loans only;
- Tribal lender, so tribal jurisdiction applies;
- Not all states are supported;
- Low first-time credit.
How To Get A Loan From BlueTrustLoans?
Now that you know what is blue trust loans, and whether you can trust this lender, it’s time to learn the brand’s application process. Getting a loan from Blue Trust Loans is straightforward and takes several minutes only. Users should check their eligibility, fill out an application form, and wait for the approval.
Check If You Are Eligible
Before applying for a loan from BlueTrustLoans, you should check your eligibility first. To get credit here, you need to:
- Own a checking account;
- Be at least 18 years old;
- Be a US resident;
- Have a regular income that meets their requirements;
- Not own money to other lenders or be a bankruptcy case.
Submit An Application
If you meet all qualification criteria, simply click on the bluetrustloans.com apply button to be redirected at the application form. It includes three separate sections:
- Customer information (loan amount, first name, last name, SSN, date of birth, home address);
- Income information (paycheck details, income information, employer details);
- Financial information (account number, ABA routing number, preferred payment method).
Get A Fast Response
You can use your blue trust loans login to check the status of your application. In case you’ve been approved, you can proceed to eSign all necessary documentation and call the lender to verify all the provided information. Alternatively, you can discover if you were green-lighted by calling Blue Trust Loans on their number or schedule a time for their agents to call you. Either way, approvals arrive incredibly fast, sometimes instantly. Once approved, you can expect to get the cash as soon as the same day. The Blue Trust Loans customer service team is available 24/7.
Rates And Repayment Policy
There are three ways you can repay your loan. The first option is regular pay with automatically collected payments following a pre-agreed schedule. The second way is an early payoff, which involves one large payment. Finally, you can go for paying extra, and that leads to saving on financial charges and lower principals.
In terms of loan rates, these depend on your chosen repayment period and payment type. Moreover, returning customers get better terms and lower rates.
Here are the maximum rates for $100 borrowed applicable to new clients:
- Weekly – $14.75
- Bi-weekly – $29.50
- Semi-monthly – $29.50
- Monthly – $59.00
Interested borrowers can find the exact rates and loan terms at the official site www.bluetrustloans.com.
Who Should Apply For BlueTrustLoans Offers?
BlueTrustLoans, just like all other best personal loan providers, offers financial support to people with financial emergencies. So, their services are suitable for anyone who needs fast access to cash but no more than $2,500. With same-day funding, this lender beats all other options such as banks and credit unions.
Just keep in mind that convenience and fast funding comes at a price. The APR of short-term credit tends to be higher than the average. So, you should make sure that you can repay the loan before accepting it.
Is Blue Trust Loans Legit And Safe?
Are you scared of scam lenders, filing complaints, and getting stuck with a loan that can lead to a lawsuit? The only way to avoid all this is to find reliable loan providers such as BlueTrustLoans. Even though there are mixed Blue Trust Loans reviews, there’s no doubt that this a trusted company.
Tested by our credit loans and finance experts, the brand meets high safety standards and provides top service to customers. Its support agents are reachable 24/7. Moreover, this lender is among the few that have exclusive rewards programs. Their Club Blue benefits include higher funding, extended repayment periods, and lower fees. So, anyone who wonders, “is BlueTrustLoans a scam?” can forget such worries.
BlueTrustLoans – Bottom Line
Getting the money you need has never been easier, thanks to BlueTrustLoans. This Tribal lender offers installment credit only and provides same-day funding. It takes approximately 10 minutes to complete an application and get approved.
So, anyone facing a temporary financial struggle should consider using the services of this company. As we established in our in-depth BlueTrustLoans review, this is a safe and experienced loan provider. Hence, borrowers can expect top-class service and fair terms.
Get up to $2,500 right away by applying for an installment loan with a repayment period of up to nine months! Just don’t forget to read the loan’s T&C and APR before accepting their offer.