Personal loan ranking sees new leader climb to the top
There is only one change of position in the last PYMNTS Ranking of personal loan providers apps, but it’s a big one – there’s a new chef.
The leader and last month’s runner-up this time swapped positions. Other than that, the other five contenders hold the same positions they held last time out.
However, some of the gaps between the contenders have narrowed and there are three contenders within three points of each other.
Like every month, the rating factors used in the rankings include channel coverage, up-to-date downloads, average monthly users, sessions per user, and average session duration.
Now, let’s take a closer look and see what kinds of scores candidates qualify for.
The first five
The new chef this month is SilverLionwho reaches the top with a score of 98 after being placed second last time.
Swapping places with this competitor is SoFi. With a score of 92, this application drops one position and is the second of the month.
After a 12 point gap in the peloton, here is the next competitor. Before retains third place with a score of 80.
Moreover, keeping the position it occupied the last time is Upgrade. This app is ranked fourth with a score of 75.
Just one point behind with a score of 74 is PaySense. This app is fifth like last time, but has closed the gap.
Also running in this sparsely spaced part of the field is loan club. This application is only two points behind the competitor ahead of it and, with a score of 72, maintains its hold on the No. 6 position.
Further down the field is LendingTree. This application has obtained a score of 41 and closes this month’s edition of the ranking of personal loan application providers.