Written by Ascend Team
Updated Nov 1st, 2023
Did New Capital Financial prequalify you for a loan with a 6.95% interest rate (similar to the one below)?
If so, I wrote this article for you.
What is New Capital Financial?
It appears that there are a few different domains for New Capital Financial. I made sure to go to the website listed on the mailer to find out more about the company. I was unable to find any information about who they are or how they function, all I could find was this screen asking me to enter my offer code or request one to see my pre-qualification information. I found it interesting that it says you are pre-qualified but you can also request a code.
If you are looking for a loan, we have 2 debt consolidation loan options that we like that do not affect your credit score when checking rate and do not charge prepayment penalties.
Important Distinction: Loans vs Programs
Debt consolidation loans are a great option if you are looking to keep your account open. You have an interest rate connected to the loan and it will put funds in your account. You may be able to see your credit score improve with this option and there is no real threat of getting sued by your creditors.
Debt consolidation programs are a great option if you are behind on your accounts and do not see yourself being able to catch up any time soon. You may be in a place where you need help lowering the total debt amount you owe. That is when a program can be helpful. The company would go in and negotiate with your creditors to lower your total debt amount down to ~50% of what you owe. There is a threat of creditors suing and your credit score can take a hit with this option.
New Capital Financial History
It appears as though they have been around for a few years, but started picking up as of recently. On WayBack Machine, they popped up beginning in 2011.
How Much Do Debt Consolidation Programs Cost?
At Ascend, we believe that debt consolidation programs (debt relief) may be a good option, but often in context in understanding all the costs and duration estimates of all your options. As such we built the free debt consolidation program cost calculator below to help you compare your current monthly obligations to a debt consolidation program.
New Capital Financial Reviews
Reading reviews is one way to discover if you want to work with a company. It can be helpful to hear about other people's experiences to see what you are signing up for. Let's see what the reviews online have to say.
BBB
On BBB, it appears that New Capital received a 4 out of 5. They had both positive reviews and complaints from people.
The positive reviews discussed how empathetic and helpful the people were that the individuals spoke with at New Capital Financial.
BBB Complaints
The
2 complaints discussed how the company was a bait and switch and did not give them the interest rate that was provided in the original mailer.
Google Reviews
On Google, New Capital received a 4.8 out of 5 based on 32 reviews. 
I noticed that there were a lot of 4 or 5 star reviews with nothing noted in it. It made me question if New Capital was asking individuals to leave a review after an initial conversation, or if they just had a good experience but did not want to elaborate.
The only negative review I found was from an individual who said they had an issue cancelling after figuring out it was not what they were looking for.
TrustPilot Reviews
On TrustPilot, New Capital has a great rating, similar to Google. They have a 4.8 out of 5. 
There are so many positive reviews, stating that they are so thankful for New Capital who helped them ease anxiety and get a fresh start they were looking for.
The negative reviews stated feeling lied to and that overall their experience was not great.
Other Reviews
I was not able to find New Capital Financial reviews on any other platforms.
Alternative Options to New Capital Financial
Many people prefer to try to get a debt consolidation loan before looking at options such as debt management, debt payoff planning, debt settlement or bankruptcy. If you've searched far and wide for a loan and can qualify, consider taking the free debt consolidation program cost calculator below that allows you to compare to other options.
