Before writing this Pennie Loans review, I have gone through their website multiple times. What I have understood is that it is a loan connection service, introducing borrowers to lending partners. Pennie Loans or Try Pennie claims to offer loans to individuals based on their annual income, rather than their credit score. Surprisingly, there is no minimum credit score required for you to qualify.
I have also visited Try Pennie’s pages on Trustpilot and Reddit to check what their customers or any finance experts are talking about. Let’s just say, most of these reviews were negative, and the few positive ones sounded fake.
Let’s not make up our minds just yet. Now we’ll delve deep into some unanswered questions, like whether Pennie Loans is legit, their website, Pennie Debt Relief reviews on different platforms, etc.
What Is Pennie?
As per Try Pennie’s website, it is in financial services, simplifying borrowers’ lives through financial education and technology. It was founded in 2022 and offers smart product matching, financial services to individuals irrespective of their financial conditions and credit score.
It Offers Financial Services Under 4 Categories:
1. Debt Consolidation
Under debt consolidation, it validates loans up to $100,000 with interest rates starting from 5.99%. You do not need to have a minimum credit score to opt for this, and you can consolidate multiple payments into one simple payment.
2. Credit Card Refinancing
Under this service, you can avoid high-interest credit card payments by transferring the balances to a loan. The same above-mentioned loan features are available under this, and loans are funded as soon as the next business day, apparently.
3. Home Improvement
Under home improvement, you can get a loan up to $100,000 for renovations of your home, kitchen, bathroom, furnishings, etc. You can get a HELOC (Home Equity Line of Credit) of up to $400,000. The interest rates start at 7.6%, and you will get flexible terms up to 30 years.
4. Large Purchases
You can also get approved loans for purchasing a yacht, a bungalow, or your dream luxury vacation. The loan conditions remain almost the same, with a loan amount up to $100K, with interest starting at 5.99%, and with no minimum credit score required for approval.
How To Apply For A Pennie Loan?
To apply for a loan on Try Pennie, you need to provide the following details:
- First Name
- Last Name
- Amount You Want To Borrow (from $20,000 – $90,000)
- Why Do You Need a Loan? (Select between debt consolidation or credit card refinance)
- Annual Income Before Taxes
- How Often Do You Get Paid? (Choose between weekly, bi-weekly, semi-monthly & monthly)
- How Much Unsecured Debt Do You Have?
- Street Address
- Do You Rent or Own Your Home?
- Phone Number
- Credit Rating
- Highest Level of Education
- Employment Status
- Date of Birth
- Social Security Number
Once you have provided Pennie Financials with all this information, you will be directed to the last page on which your chosen loan amount and loan purpose will be displayed. After clicking on the ‘Agree & View Offers’ button, you will end up on the final page, where you will get your loan offers.
After providing all the details, I ended up with loan offers from 6 companies: Lexington Law, Chime, 24X7 Lending Group, Point, National Debt Relief, and Experian.
What surprised me the most was that one of the ‘loan-offering’ companies, Point, has no online existence.
Not just that, with the details I have provided, 12 companies rejected my loan request!
Is Pennie Financial Legit?
After exploring the Try Pennie website for days now, what caught my eye is that they have a lot of claims, like
- Over 32 million people have received loans through Try Pennie
- Over 350 million loan offers made
- More than 250 million customers have enquired
- $10 billion credit product offerings
In 2014 itself, Pennie Financials have,
- Offered over 63 million loans
- Funded over 14 million borrowers
- Offered more than $1.9 billion in credit products
Try Pennie also has some customer testimonials on their homepage, e.g.,
Michael O says, “Pennie was awesome. I had a phone call to verify my income, and they mapped out a plan and explained everything to me.”
Most of the reviews on their website read similarly, and I found no way to verify their legitimacy from my end.
The company also has over 1000 reviews on Trustpilot, under its logo and ‘Pennie Mgmt’ name. The average rating on Trustpilot is 4.9 stars. It had a surge of reviews in 2025, whereas just a few months back, a review of Try Pennie on Finder revealed that they had just 2 out of 5 stars, based on 13 customer reviews.
On Reddit, some customers talk about the negative experience with Try Pennie and even warn other users to stay clear of this brand.
I tried to look for the existence of Pennie Financials on social media platforms, and found that they have no pages on LinkedIn, X (formerly Twitter), Facebook, or Instagram.
In my experience, a reputable financial service company will never have such a questionable online presence, in this case, mainly absence on social media channels. Today, legit companies fuel their marketing by leveraging social media channels, as those are the cheapest and most efficient ways to reach a large pool of potential customers. On the contrary, Try Pennies’ absence from these online platforms raises some eyebrows for sure.
Pennie Loans Review: Is It Worth It Or Not?
As of yet, I am not 100% sure about the legitimacy of Try Pennie. The customer testimonials on both the website and third-party sites cannot be fully trusted. When dealing with sensitive financial decisions, it is always advised to go with a trusted expert or connect with a reputable name.
After going through some of the reviews, I concluded that most reviews cited false advertising, untrustworthy claims, and bait-and-switch tactics. These are not some words you want to hear when looking for loan options during financial hardships.
It is always best to take a few more days to research, ask your trusted associates, or check out legit customer reviews on any finance company before making your final decision.
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