This article was written by Vivien Lehman, a client happiness specialist with Earnest.
From our radical payment flexibility options to our commitment to providing an exceptional client experience, below are some features we offer that help you manage your loan.
Adjust your payment date each month
Feel free to shift your monthly payment to the date you prefer anytime through your Earnest dashboard. You can push it back up to seven days, or move up the date as much as you would like.
Save by making payments every other week
Paying more often in a smaller amount helps you save on interest. Instead of making one monthly payment, you may set up smaller payments every other week. You can schedule these payments for every other Friday (or whichever day of the week you prefer) from your Earnest dashboard. Over the long run, this will save you in interest.
Make an extra payment
Whether it’s a bonus from work, a tax refund, or a generous gift, you can use that extra cash to help knock your loan principal balance down. You can set up extra payments of any amount, scheduled for any day, with no fees or penalties. The lower your principal balance, the less interest you accrue between payments — meaning more money saved over the life of your loan. (Read more about how Earnest loans work.)
Skip a payment
Perhaps you would like some extra cash to spend on your vacation or you’re taking on a home improvement project. We offer you the option to skip a payment every 12 months, up to 12 times over the life of your loan. This option is available after you have had six months of consistent on- time payments.
Increase your autopay amount
The more you pay toward your loan each month, the less you pay toward interest overall. While the payment amount on your loan agreement is the minimum amount due each month, you can increase your autopay amount if at any point you would like to consistently pay more. You can switch back to your monthly minimum anytime from your dashboard as well.
Earnest service for the life of the loan
We are both the lender and the servicer, and we never sell off clients to third parties. Whether you have a question, concern, or you simply want to chat, our Client Happiness team is always committed to providing you exceptional service. You can reach out to us by calling (888) 601-2801 Monday through Friday, 8am-5pm PST. Or reach out through the Help Center.
Make your loan fit your life
Through our comprehensive application process, our underwriters assigned you loan terms based on your current finances, as well as your earning potential. That said, we always want your loan to reflect your current financial situation. If you feel you’ve outgrown your loan terms with a significant change in your finances, let us know! We are happy to review your current financial situation to see if we can offer you terms that better represent the financial improvement you’ve made.