Zable Review – Personal Loans and Credit Card Solution
Joy Wallet is advertiser-supported: we may earn compensation from the products and offers mentioned in this article. However, any expressed opinions are our own and aren't influenced by compensation. To read our full disclosure, click here.
Fast Facts
Credit Builder Card:
Helps improve credit scores.
No Credit Check:
Accessible to those with poor credit.
Low Fees:
Minimal costs associated.
Cashback Rewards:
Earn on purchases.
Mobile App:
Easy account management.
Credit Reporting:
Reports to major credit bureaus.
Managing personal finances efficiently has never been more critical. With the rapid advancement of technology, financial management tools have become more sophisticated, offering consumers unprecedented control over their finances. Mobile banking apps, online budgeting tools, and automated savings programs allow individuals to monitor their spending, set financial goals, and track their real-time progress.
Zable is one such company in the personal finance space. Despite being relatively new to the U.S. market, Zable has made a name for itself by eliminating lengthy forms, paper-based applications, and extended waiting periods.
In this article
What is Zable?
Founded in 2014 in the United Kingdom, Zable uses technology to simplify personal finance. While relatively new in the US, Zable has already assisted hundreds of thousands of borrowers in the U.K.
Zable offers two products:
- A credit card
- A personal loan
The Zable app allows users to easily manage their spending, make payments, and access a virtual card for immediate online use after approval.
Here are a few of Zable’s key features:
- Speed: Fast and seamless access to loans and credit cards.
- Simplicity: Transparent terms with no fees.
- Service: Customer service is available during business days via email or phone.
On TrustPilot, Zable has a 4.8-star rating based on about 700 reviews.
Use AmONE to Get a Personal Loan
- If you're tight on cash right now, you may want to consider getting a personal loan. A personal loan is a loan that you can use for just about any purpose like: paying off other debt, renovating your home, or family needs like a wedding or adoption.
- With personal loan interest rates rising, now could be a great time to find a personal loan. Through our partner AmONE, you could get matched to a lender who could offer as much as a $50k loan with rates as low as 5.99% APR.
- Approval and loan terms vary based on applicant qualifications. Not all applicants will qualify for the full amount or lowest available rates. It takes minutes to see your results. And don't worry- filling out the form won't hurt your credit score and is free, so why not give it a try?
Zable products
As noted, Zable offers a credit card and a personal loan. Here are the details on both:
Zable credit card
The Zable Mastercard credit card offers a variable APR of 26.99% to 33.99%. The APR for cash advances is also variable, between 26.99% and 33.99%. It’s important to note that these APRs are above average. For reference, the average APR for a new credit is 24.80%, according to LendingTree.
During the application process, you’ll need the following information:
- Name
- Date of birth
- Residential street address
- Social Security Number
- Income information
- An active phone number where you can receive calls and texts to verify your identity
- An active email address for verification
Prospective users would be happy to know that Zable conducts only a soft inquiry on your credit report during pre-qualification to determine eligibility. Unlike a hard inquiry used by lenders when making a credit decision, which can impact your credit score, a soft inquiry does not affect your credit rating.
The Zable credit card is available in Alabama, Arkansas, Connecticut, Delaware, Florida, Georgia, Idaho, Illinois, Kentucky, Michigan, Missouri, New York, South Dakota, Utah, Washington and Wisconsin.
Zable personal loan
Zable personal loans offer a convenient and flexible borrowing option for individuals across various jurisdictions in the United States.
Loans range from $1,000 to $35,000 with varying terms and no penalties for early repayment. State-specific minimum loan amounts apply in certain states, such as Alabama ($1,501), Georgia ($3,001), Hawaii ($1,500), and Massachusetts ($6,001). Zable’s unsecured personal loans are made by Cross River Bank or New Horizon Bank NA, members of FDIC, and equal housing lenders.
The first monthly payment is scheduled exactly one month after the promissory note is signed. If you cannot make payments, Zable provides various repayment solutions tailored to meet individual financial circumstances.
If you make a loan application and your loan request is approved before 3:30 p.m. ET on a business day, recipients can expect to receive their funds on the same day. Otherwise, the funds will be disbursed on the next business day.
Zable loans are available in several states, including Alabama, Alaska, Arizona, Arkansas, California, Delaware, District of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Kentucky, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, New Mexico, New York, North Carolina, Ohio, Tennessee, Texas, Utah, Virginia, and Washington.
Zable fees
Here’s what Zable’s fees look like:
Credit card fees
The Zable credit card has an annual fee ranging from $0 to $39. A transaction fee of either $10 or 3% of the amount (whichever is greater) is applied for cash advances. Foreign transactions incur a fee of 3% of each transaction in U.S. dollars. Penalty fees include up to $39 for late payments and $29 for returned payments.
Personal loans fee
Unfortunately, Zable isn’t very transparent about estimated fees on its personal loans, only noting that the fee is based on your individual circumstances. Regardless, this fee is specified in the loan offer. As is common, the fee is deducted from the loan amount before the funds are sent to you.
Use AmONE to Get a Personal Loan
- If you're tight on cash right now, you may want to consider getting a personal loan. A personal loan is a loan that you can use for just about any purpose like: paying off other debt, renovating your home, or family needs like a wedding or adoption.
- With personal loan interest rates rising, now could be a great time to find a personal loan. Through our partner AmONE, you could get matched to a lender who could offer as much as a $50k loan with rates as low as 5.99% APR.
- Approval and loan terms vary based on applicant qualifications. Not all applicants will qualify for the full amount or lowest available rates. It takes minutes to see your results. And don't worry- filling out the form won't hurt your credit score and is free, so why not give it a try?
Who is Zable good for?
Zable is an excellent choice for individuals who streamline their personal finance management through technology. It is particularly beneficial for:
- Those seeking quick access to funds. Borrowers who need fast access to loans will appreciate Zable's prompt disbursement process, which ensures same-day funding if approved before 3:30 p.m. on a business day.
- Tech-savvy users. People who prefer managing their finances digitally benefit from the Zable app, which allows for easy spending management, payments, and access to a virtual card for immediate online use.
- Flexible borrowers. Those needing tailored repayment solutions can benefit from Zable’s personalized repayment options, designed to meet individual financial circumstances.
Who shouldn't use Zable?
Zable might not be the best option for:
- Individuals in unavailable states. If you reside in a state where Zable does not operate (e.g., states not listed for personal loans or credit card availability), you won't be able to utilize their services.
- Borrowers seeking low APRs. The APRs for Zable's credit card and personal loans are relatively high (ranging from 26.99% to 33.99% for the credit card). Individuals looking for lower interest rates might want to consider other financial institutions.
- Those needing transparent personal loan fees. Zable is not very transparent about the specific origination fees associated with personal loans, which are determined individually and deducted from the loan amount before disbursement. Borrowers who prefer upfront, clear information about fees might find this lack of transparency problematic.
Pros and cons
Pros
- Quick access to funds. Zable offers fast disbursement of funds, with same-day funding available if a loan request is approved before 3:30 p.m. ET on a business day.
- User-friendly app. The Zable app allows users to manage spending, make payments, and access a virtual card immediately upon approval, providing a seamless digital experience.
- Soft credit inquiry. During the pre-qualification stage, Zable conducts only a soft inquiry on your credit report, which does not affect your credit score.
- Flexible repayment options. Zable provides tailored repayment solutions to meet individual financial circumstances, offering flexibility for borrowers.
- Wide availability. Zable personal loans are available in many states across the U.S., providing extensive access to their financial products.
- High customer satisfaction. Zable has a 4.8-star rating on TrustPilot based on around 700 reviews, indicating a high level of customer satisfaction.
Cons
- High APRs. The APRs for Zable's credit card and personal loans are relatively high, ranging from 26.99% to 33.99%, which may not be competitive with other financial institutions.
- Lack of transparency on personal loan fees. Zable is not very transparent about the specific fees associated with personal loans, which are determined on an individual basis and deducted from the loan amount before disbursement.
- Annual fees. The Zable credit card comes with an annual fee ranging from $0 to $39, which might be a drawback for some users.
- New to U.S. market. As Zable is relatively new to the U.S. market, some potential users might be cautious about engaging with a newer entrant compared to more established financial institutions.
Use AmONE to Get a Personal Loan
- If you're tight on cash right now, you may want to consider getting a personal loan. A personal loan is a loan that you can use for just about any purpose like: paying off other debt, renovating your home, or family needs like a wedding or adoption.
- With personal loan interest rates rising, now could be a great time to find a personal loan. Through our partner AmONE, you could get matched to a lender who could offer as much as a $50k loan with rates as low as 5.99% APR.
- Approval and loan terms vary based on applicant qualifications. Not all applicants will qualify for the full amount or lowest available rates. It takes minutes to see your results. And don't worry- filling out the form won't hurt your credit score and is free, so why not give it a try?
Zable vs. competitors
Wondering how Zable fares against some of its competitors? Here’s an overview, but we delve deeper later on:
Company | Products offered | Loan amount range | Fees |
Zable | Credit Cards, Personal Loans | $1,000 - $35,000 | Undisclosed origination fees APR on credit cards 26.99% - 33.99% No prepayment penalties |
Upgrade | Personal Loans, Credit Cards, Checking Accounts | $1,000 - $50,000 | Origination fee: 1.85% - 8% Late payment fee: $10 No prepayment penalties |
LightStream | Personal Loans | $5,000 - $100,000 | No origination fees No late payment fees No prepayment penalties |
Upstart | Personal Loans | $1,000 - $50,000 | Origination fee: 0% - 12% Late payment fee: 5% of the past due amount or $15, whichever is greater No prepayment penalties |
Upgrade
Zable and Upgrade are two companies in the digital financial services sector, each with unique strengths.
Zable's credit card features a variable APR of 26.99% to 33.99%, and its personal loans range from $1,000 to $35,000 with no early repayment penalties. The Zable app allows for easy financial management, while fees are transparent but not fully disclosed upfront for personal loans. Upgrade offers competitive rates and terms on its loans, multiple credit card options with cash back rewards, and a high-yield savings account with a 5.21% APY, all managed through a user-friendly digital platform.
Zable targets tech-savvy users needing quick access to funds and personalized repayment solutions, while Upgrade appeals to those seeking a full suite of online banking services. However, Zable's higher APRs and limited state availability might deter some users, just as Upgrade's lack of in-person services and joint accounts might not suit everyone.
Lightstream
Founded in 2012, LightStream is an online consumer lender offering low-interest, fixed-rate loans from $5,000 to $100,000, with a maximum APR of 25.00% with autopay. It provides same-day funding if the loan agreement is signed by 2:30 p.m. ET. LightStream has no fees, including origination, late payment, or prepayment penalties. Its loans cover various purposes, such as home improvement, debt consolidation, and educational expenses. To qualify, you need a good credit history, stable income, and several years of credit experience.
Zable’s credit card has a variable APR of 26.99% to 33.99%, and personal loans range from $1,000 to $35,000, with no early repayment penalties. Zable focuses on a seamless user experience through its app, making financial management easy and transparent. Ideal for tech-savvy users, Zable boasts excellent customer service and a high TrustPilot rating, though it has higher APRs and limited state availability.
Upstart
Upstart's primary feature is its AI-powered evaluation system, which goes beyond traditional credit scores to assess a borrower's eligibility. This results in better approval odds and more competitive rates for a wider range of consumers. The loan amounts available through Upstart range from $1,000 to $50,000, and once approved, funds can be disbursed as soon as the next business day. Additionally, Upstart does not charge prepayment penalties, allowing borrowers to pay off their loans early without incurring extra costs. However, Upstart does charge an origination fee, which can range from 0% to 12% of the loan amount, potentially increasing the overall cost of the loan.
By comparison, Zable emphasizes simplicity and accessibility with its credit offerings. The company's personal loans range from $1,000 to $35,000, and like Upstart, Zable does not impose early repayment penalties, allowing borrowers flexibility in managing their repayment schedules. Zable's credit cards come with a variable APR between 26.99% and 33.99%, and the entire process, from application to management, is designed to be seamless via their mobile app. This makes Zable a convenient option for tech-savvy users who prefer managing their finances through their smartphones.
FAQs
What is Zable?
Zable is a fintech company founded in 2014 in the United Kingdom that aims to simplify personal finance through technology. The company offers a credit card and personal loan with a streamlined, customer-friendly approach, eliminating lengthy forms, paper-based applications, and long waiting periods.
What products does Zable offer?
Zable offers two main products: a credit card and a personal loan. Both products are designed to meet diverse financial needs and are managed through the Zable app, which provides easy access to spending management, payments, and a virtual card for immediate online use.
What are the interest rates for the Zable credit card?
The Zable Mastercard credit card offers a variable APR ranging from 26.99% to 33.99%. The APR for cash advances is also variable, between 26.99% and 33.99%.
How quickly can I receive funds from a Zable personal loan?
If a loan request is approved before 3:30 p.m. ET on a business day, recipients can expect to receive their funds on the same day. Otherwise, the funds will be disbursed on the next business day.
What fees are associated with the Zable credit card?
The Zable credit card has an annual fee ranging from $0 to $39. For cash advances, there is a transaction fee of either $10 or 3% of the amount (whichever is greater). Foreign transactions incur a fee of 3% of each transaction in U.S. dollars. Penalty fees include up to $39 for late payments and up to $29 for returned payments.
How is Zable rated by users?
On TrustPilot, Zable has a 4.8-star rating based on about 700 reviews, indicating a high level of customer satisfaction.
The bottom line
Zable is a forward-thinking company that leverages technology to simplify personal finance. Founded in the United Kingdom and making its mark in the U.S., Zable offers a streamlined, customer-friendly approach to borrowing. With products like a credit card and a personal loan, users can enjoy fast access to funds, transparent terms, and the convenience of managing their finances digitally through the app.
Zable is particularly well-suited for tech-savvy individuals who appreciate quick, hassle-free access to loans and credit and those who benefit from flexible repayment options tailored to their financial circumstances. However, potential users should consider their specific needs and circumstances. Zable's services are unavailable in all states, and its interest rates may be higher than those of other financial institutions. Additionally, the lack of transparency regarding personal loan fees may concern some borrowers.
Joy Wallet is an independent publisher and comparison service, not an investment advisor, financial advisor, loan broker, insurance producer, or insurance broker. Its articles, interactive tools and other content are provided to you for free, as self-help tools and for informational purposes only. They are not intended to provide investment advice. Joy Wallet does not and cannot guarantee the accuracy or applicability of any information in regard to your individual circumstances. We encourage you to seek personalized advice from qualified professionals regarding specific investment issues. Featured estimates are based on past market performance, and past performance is not a guarantee of future performance.
Our site doesn’t feature every company or financial product available on the market. We are compensated by our partners, which may influence which products we review and write about (and where those products appear on our site), but it in no way affects our recommendations or advice. Our editorials are grounded on independent research. Our partners cannot pay us to guarantee favorable reviews of their products or services.
We value your privacy. We work with trusted partners to provide relevant advertising based on information about your use of Joy Wallet’s and third-party websites and applications. This includes, but is not limited to, sharing information about your web browsing activities with Meta (Facebook) and Google. All of the web browsing information that is shared is anonymized. To learn more, click on our Privacy Policy link.
Images appearing across JoyWallet are courtesy of shutterstock.com.
Writer
Jasir Jawaid is Joy Wallet's Assistant Editor. He has more than 13 years of experience as a journalist covering Wall Street, equities, financial policy and regulation, and cryptocurrency and blockchain.
Share this article
