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  • Official comment
    Stilt Team (Edited )

    The interest rates depend on more than a credit score. There are many variables in determining someone's ability and willingness to pay back the loan.

    If you are currently building credit and score is going up, it will work in your favor; if you had better credit before and had a few missed payments or a lot new hard inquiries, it may make lenders think that your credit quality is going down.

    A 700+ score is considered prime and the average APR for unsecured consumer loans for prime borrowers is about 13% (depending on the source you look at). The rates may vary depending on who you are lending from - if it's a credit union you have had a long relationship with, your rate may be lower; if it's a payday lender - your rates could be up to 300%.

    The interest rate also significantly vary depending on the type of loan. There are a few common types of loans:

    1. Unsecured Consumer Loan - also known as personal loan

    2. Auto Loan - to buy a car; collateralized by the car - rates are lower since there is a collateral

    3. Mortgages - to purchase a house/apartment - lower rates and usually for higher quality/stable income earning people

    4. Credit Cards - they are not loans but they are the most common form of credit in the U.S. and rates are higher as they are higher risk products in general

    At Stilt, we provide loans at lower APRs if you have a stable income and are still building your credit. We don't consider a limited credit history as a negative. If you are making payments on your obligations, earning an income, saving money every month, and have positive cash flows, you can get a very low APR with us compared to other sources.

    Feel free to reach out to us at if you have any questions.

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