Bad credit loans

Don’t let your credit score hold you back

Loans for 580+ FICO

Compare rates from multiple lenders in 2 minutes

Checking rates doesn’t impact your credit score

Checking rates won’t affect your credit

Get a decision in minutes

Fast process, low rates, no stress

Compare rates from multiple lenders

Compare competitive rates in two minutes with no commitment.

Complete your application

After you’ve chosen a lender, complete your application online.

Close your loan

Sign your documents and relax as the funds get deposited into your account.

Compare rates from top lenders

LenderRates from (APR)Loan termLoan amount
Axos
6.49% - 29.99%1 - 5 yearsUp to $35,000Show detailsCheck Rate

Show details

Axos Details
Prepayment penalty: NoneUnsuccessful payment fee: None
Origination fee: 0% to 2%Check processing fee: None
Late fee: $15Time to fund: As soon as the next business day after successful verification
Credible Lender Review
Axos Personal Loans Review
LightStream
3.49% - 19.99%2 - 7 yearsUp to $100,000Show detailsCheck Rate

Show details

LightStream Details
Prepayment penalty: NoneUnsuccessful payment fee: None
Origination fee: NoneCheck processing fee: None
Late fee: NoneTime to fund: As soon as the same business day
Credible Lender Review
LightStream Personal Loans Review
Payoff
5.99% - 24.99%2 - 5 yearsUp to $35,000Show detailsCheck Rate

Show details

Payoff Details
Prepayment penalty: NoneUnsuccessful payment fee: None
Origination fee: 2% to 5%Check processing fee: None
Late fee: NoneTime to fund: As soon as 2 - 5 business days after verification
Credible Lender Review
Payoff Personal Loans Review
Prosper
6.95% - 35.99%3, 5 yearsUp to $40,000Show detailsCheck Rate

Show details

Prosper Details
Prepayment penalty: NoneUnsuccessful payment fee: $15
Origination fee: 2.4% to 5%Check processing fee: $15
Late fee: 5% of late payment or $15 (whichever is greater)Time to fund: On average, within 5 days of accepting your offer
Credible Lender Review
Prosper Personal Loans Review
SoFi
5.99% - 17.53%2 - 7 yearsUp to $100,000Show detailsCheck Rate

Show details

SoFi Details
Prepayment penalty: NoneUnsuccessful payment fee: None
Origination fee: NoneCheck processing fee: None
Late fee: NoneTime to fund: Typically within a few days, given approval and bank account verification
Credible Lender Review
SoFi Personal Loans Review
Upgrade
7.99% - 35.97%3, 5 yearsUp to $50,000Show detailsCheck Rate

Show details

Upgrade Details
Prepayment penalty: NoneUnsuccessful payment fee: $10
Origination fee: 1% to 6%Check processing fee: None
Late fee: $10Time to fund: Within a day of clearing necessary verifications
Credible Lender Review
Upgrade Personal Loans Review

All APRs reflect autopay and loyalty discounts where available. Read more about rates and terms*

Here’s what customers are saying about Credible

Vinh found a loan with the lowest APR around

I love Credible! They found me a lender that was able to give me a loan with the lowest APR around, with my not so perfect credit rating. By far the best. I highly highly recommend Credible.

See review on Trustpilot

William got a list of lenders that matched his credit score

It was fast and easy. They really do provide you with a list of lenders that match your credit score, so getting approved from one of them is very likely.

See review on Trustpilot

Nicola got her money within days of applying

I was able to consolidate all of my credit card debt within days of my application. The process was quick and easy to understand. I highly recommend this service.

See review on Trustpilot
Customers rate us 9.5/10

Why get a personal loan?

Lower rates

Personal loans typically offer lower interest rates than credit cards.

Improve your credit

Making on-time payments can improve your credit score.

No collateral

Most personal loans don’t require collateral, so you won’t need to use your home or vehicle to secure it.

Still have questions?

Our Client Success Team is always here to help

  • Mon - Thurs

    6am – 6pm PT

  • Fri

    6am – 4pm PT

  • Sat - Sun

    7am – 4pm PT

You don't have to have perfect credit to take out a personal loan, but expect to pay a higher interest rate if you're approved for a personal loan with bad credit by a bank, credit union, or online lender.

Credible partner lenders Avant, FreedomPlus, Lending Club, LightStream, Marcus, Payoff, Prosper, Upgrade, and Upstart offer personal loans to borrowers with fair to bad credit (credit scores under 699).

If your credit score is below 580, or you have no credit history, you are unlikely to be approved for an unsecured personal loan unless you apply with a cosigner. But a cosigner can be a good option since they can help you secure a lower interest rate, whether you need one to qualify or not.

Check Out: Personal Loan Lenders That Accept Cosigners

The interest rate you're offered on a personal loan depends on the type of loan you're applying for, your credit history, and how bad your credit score is. Rates are often lower than credit cards, making it a good idea to use a personal loan for consolidating credit card debt.

Using your home's equity to consolidate debt — through a cash-out mortgage refinance, home equity loan, or home equity line of credit (HELOC) — can often get you an even lower rate. But that's because you're putting your home up as collateral. A personal loan is unsecured, so you don’t need property to guarantee repayment.

Once you’ve completed the loan application process and are approved, many lenders are able to fund your loan as soon as the next business day. Depending on the lender and the details of your application, it can take up to about a week.

Using Credible to check rates won't impact your credit score. When you authorize Credible to perform a credit check, we use a soft credit inquiry that allows you to see personalized prequalified rates without having to apply for a loan.

If you see a loan option on your dashboard that you'd like to proceed with, you'll be asked to authorize a hard credit inquiry when you apply for the loan. A hard inquiry can impact your credit score by two to nine points, but typically by no more than five.

Learn More: How Debt Consolidation Loans Can Help Your Credit Score

None of the lenders on the Credible platform charge prepayment penalties. Whether you want to make more than the minimum monthly payment or pay off your loan entirely, there's no prepayment penalty. You may be charged an origination fee ranging from 0% to 8%, but we’ll always tell you the cost upfront so you can compare them across lenders.

If you're taking out a personal loan from a lender that's not on the Credible platform, read the terms of your loan offer to see if you'll be charged a prepayment fee and, if so, how much.

Having good credit can help you qualify for lower interest rates. If you have a low credit score, even a small improvement in your credit score may save you money. Before applying for a loan, here are three simple steps you can take to improve your credit score:

  1. Pay bills on time: Missing payments on any of your loans or credit cards can harm your credit score, so it’s important to always pay your bills on time.

  2. Pay down credit card balances: Lowering the credit utilization ratio on your credit card accounts can boost your credit score, so pay your balances off.

  3. Improve your credit mix: If you don’t already have an installment loan (like a car loan), adding a personal loan to your credit mix can boost your credit score — particularly if you use it to pay down credit card debt with high interest rates.

More Tips: How to Build Credit Fast