Is Big Picture Loans legit?
It depends on what you consider legit. Does Big Picture offer installment loans that are easy to qualify for? Yes. Does it charge rates up to almost 700%? Also yes. So, while Big Picture Loans isn’t a scam per say, its loan rates are high and it targets borrowers with few to no other options. Plus, it was involved in a class action lawsuit over its high rates and settled by paying $65 million.
Plenty of other legitimate loans like Big Picture Loans specialize in loans for borrowers with bad credit and don’t charge rates this high.
How Big Picture Loans compares to other lenders
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What is the Finder Score?
The Finder Score crunches 3+ types of short-term loans across 65+ lenders. It takes into account the product’s interest rate, fees and features, as well as the type of loan eg investor, variable, fixed rate – this gives you a simple score out of 10.
To provide a Score, we compare like-for-like loans. So if you’re comparing the best short-term loans for all credit types, you can see how each short-term loan stacks up against other short-term loans with the same borrower type, rate type and repayment type.
Read the full Finder Score breakdown
Where Big Picture Loans falls short
The worst thing about this company is the incredibly high rates. Some borrowers report having to repay four or five times the amount they originally borrowed. The problem is that most people who resort to a lender like this are already having serious financial troubles and feel they have no choice but to accept these loan terms to get their car fixed or pay the rent. As a result, they find themselves much deeper in debt very quickly.
Beware of high costs
Tribal lenders aren’t required to follow any state or federal usury laws. That means you may be on the hook for paying double or triple — or more — the amount you borrow. Always read your loan contract carefully and consider alternatives or state-based lenders before you borrow. If you’ve landed on this lender for its easy eligibility requirements, you may try loans like Big Picture Loans, but better trusted and with better rates.
What makes Big Picture Loans shine?
Pretty much the only thing positive to say about the company is that it’s transparent about rates. It clearly states that APRs range from 160% to 699%, and rates for new borrowers start at 250%. It even gives a handy example of a $1,000 loan for 12 months at 395%, which results in a total repayment of $4,108.15.
You’re better off considering a payday loan or other alternatives, such as cash advance apps or other less expensive installment loans. All these options cater to borrowers with bad credit, and although they’re not risk-free, they’re far less costly than Big Picture Loans and can help in an emergency.
Big Picture Loans details
| Minimum credit score/credit range | No minimum stated |
| APR | 160% to 699% |
| Loan amount | $200 to $5,000 |
| Terms | Up to 12 months |
| Approval turnaround | As soon as the next business day |
| Availability | Not available in all states |
| Fees | Late fees NSF penalties |
| Other fees | Unknown |
Best Picture Loans contact info
| Phone number | 800-584-4880 |
| Customer service hours | Phone support: 24/7 Email correspondence: Monday to Thursday: 7 a.m. to 6:30 p.m. Friday and Saturday: 7 a.m. to 3:30 p.m. Sunday: 10 a.m. to 3:30 p.m. |
| support@bigpictureloans.com | |
| X, formerly Twitter | @BigPicLoans |
| Big Picture Loans |
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How to qualify for Big Picture Loans
These are the only requirements Big Picture Loans lists on its website:
- A bank account in good standing
- Reachable by phone
- Valid email address
- 18 and a US resident
How to apply
You can apply for a loan through the company’s website.
- Fill out the online application.
- Wait for a customer service representative to call and verify your information.
- Review and sign your loan agreement.
- Receive funding typically on the next business day.
Big Picture Loans says it performs credit checks on all loan applicants.
Big Picture Loans reviews and complaints
| BBB accredited |
No |
|---|---|
| BBB rating |
A+ |
| BBB customer reviews |
1.85 out of 5 stars, based on 13 customer reviews |
| BBB customer complaints |
48 customer complaints |
| Trustpilot Score |
4.8 out of 5 stars, based on 21 customer reviews |
| Customer reviews verified as of |
01 April 2025 |
Reviewers on the Better Business Bureau (BBB) complain about ridiculously high APRs, poor customer service and regret taking out a loan with the company. One person used their review to alert potential borrowers about a class action lawsuit against Big Picture Loans. There was only one positive review that sounded scripted.
Surprisingly, Big Picture Loans has a 4.8 rating on Trustpilot. Some reviewers say the company is fast and convenient, with an easy application process and quick approval. Others complain of the high rates or difficulty getting verified and approved. Many bad reviews warn other consumers against using this company.
What do people on Reddit say?
One person on Reddit was asking for advice about a loan his elderly mother took out with Big Picture Loans, which was charging around 700% interest. Suggestions included paying the whole thing back immediately or to stop making payments altogether. Several people were shocked at the rates and questioned whether that was even legal. A few people explained that tribal lenders can get around state laws that keep interest rates low by being associated with a sovereign nation that doesn’t have to follow those laws.
Frequently asked questions
Can I apply for multiple loans with Big Picture Loans?
No. You can only have one loan at a time. Once you’ve repaid your loan, you can log in to your account and reapply using the same email address. Big Picture Loans claims to offer lower rates to returning borrowers.
How do I know if I’m approved for a loan?
After your information is verified, Big Picture Loans says it notifies you by email with its final decision.
Do lending laws of the state I reside in apply to Big Picture Loans?
No. Only the laws of the Lac Vieux Desert Band of Lake Superior Chippewa Indians govern your loan agreement. Sovereign Indian Tribes don’t have to adhere to state laws in the absence of congressional authorization.
