Pros
Comprehensive comparison tools: Bankrate offers intuitive comparison tools that allow users to shop around for personal loans from multiple lenders easily
Wide range of loan options: Bankrate’s marketplace includes personal & business loans ranging from $1,000 to $200,000 with repayment terms of up to 120 months
Soft credit pull for prequalification: Bankrate’s platform allows users to check their loan eligibility and potential rates through a soft credit pull
Cons
Not a direct lender: Bankrate is a comparison site and doesn’t directly provide loans
Potential for misleading advertised rates: Some complaints suggest that the rates displayed on Bankrate may be significantly lower than what users actually qualify for
Limited direct customer support: As Bankrate is not a direct lender, users may face difficulties in reaching customer service for loan-specific issues