When you're short on savings or want to consolidate debt, a personal loan can help. With the ability to access up to $50,000 or more, personal loans are versatile and widely available.
But you often need a certain credit score to qualify — especially if you want a loan with a low interest rate. While there's no single universal credit score requirement for personal loans, most lenders require a minimum FICO score, such as 640 or higher. In general, the better your credit score, the more options you'll have.
What is a credit score?
A credit score is a three-digit number, between 300 and 850 on the FICO scale, that represents your credit history — like whether your monthly payments are always on time or sometimes late, and if you've defaulted on any loans. Lenders use your credit score as a predictor of how likely you are to repay your debts. The better your credit history, the higher your credit score, which indicates to lenders that they can rely on you to pay them back.
The FICO scoring model, developed by the Fair Isaac Corporation, is a popular model used by most lenders. But in addition to the FICO scoring model, there's the less-used VantageScore.
Several factors affect your credit scores, each to a different extent. FICO calculates scores based on these primary factors:
- Payment history: This shows lenders your record of repaying debts and accounts for 35% of your score.
- Amounts owed: This metric considers the amount you owe across all your accounts. It includes the amount of revolving credit you use and accounts for 30% of your score.
- Length of credit history: This accounts for how long you've had credit accounts, going back to your oldest account. Length of credit history represents 15% of your score.
- Credit mix: This is the representation of different types of credit, such as credit cards, personal loans, and mortgages. Credit mix accounts for 10% of your score.
- New credit: This metric weighs how many new accounts you have and what type they are, as well as the number of new inquiries on your credit report — whether or not you end up opening the account. New credit makes up 10% of your score.

Tip
A hard credit inquiry on your report — when you apply for a loan or credit card and the lender checks your credit — can ding your score by several points for up to one year. This is why it’s generally good to limit hard inquiries when possible.
Credit scores are often split into ranges. FICO score ranges are as follows:
- Poor: Less than 580
- Fair: 580 to 669
- Good: 670 to 739
- Very good: 740 to 799
- Exceptional or excellent: 800 or higher
But it's a common misconception that you have a single credit score. Even with FICO, you could have different scores depending on the bureau you're looking at: Experian, Equifax, or TransUnion. This is because each bureau may have slightly different information about your credit file. Not all lenders and creditors report to all credit bureaus; they don't necessarily run hard credit checks with each bureau when you apply for credit either. As a result, your scores can, and often do, differ.
It's a good idea to check your credit scores regularly.
What is the minimum credit score needed for a personal loan?
Minimum credit score requirements for personal loans vary by lender, but many require good credit, which is a FICO score of 670 or higher. However, there are quite a few lenders — like Upstart, OneMain Financial, Reprise, Universal Credit, Best Egg, and Avant — that offer loans for fair credit or bad credit. But they typically charge higher interest rates and/or upfront fees to offset the risk of doing so.
You can see minimum credit score requirements with Credible partner lenders below.
Advertiser DisclosureThe rates that appear are from companies from which Credible receives compensation. This compensation does not impact how or where products appear within the table. The rates and information shown do not include all financial service providers or all of the displayed lenders' available services and product offerings.
Credible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more.
Read our full methodology.
Overview
LightStream is one of three Credible partner lenders to offer loan amounts up to $100,000, which makes it ideal for financing large expenses. Plus, rates on LightStream personal loans were the lowest among all Credible partner lenders, on average, for borrowers with good, very good, and excellent credit, according to Credible personal loans data over the past year. There are no origination fees and loans can be used for a wide range of purposes
Funds are available as soon as the same day you apply, and you'll have up to 20 years to repay certain types of loans, including home improvement loans, RV loans, and boat loans.
Unlike most lenders, LightStream does not let you prequalify on its site — but you can prequalify through Credible. LightStream scored better than average in J.D. Power's 2025 U.S. Consumer Lending Satisfaction Study, beating out online lender SoFi by one position.
pros
- Same-day funding available
- High maximum loan amount
- No origination fee
cons
- Good credit required
- No prequalification process
- Not available in Vermont
Repayment terms
2 - 20 years, depending on loan purpose
Eligibility
Available in all states except VT
Time to get funds
As soon as the same business day
Loan uses
Credit card refinancing, debt consolidation, home improvement, and other purposes
Read full reviewCredible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more.
Read our full methodology.
Overview
More borrowers are able to prequalify with Upstart compared to all other Credible partners, based on Credible personal loans data. This could make the lender a good choice if you have at least fair credit and have struggled to qualify with other lenders. It also offers loans as low as $1,000, which makes it a good choice if you need a small loan. Just know that Upstart may charge an origination fee as high as 12%, but good-credit borrowers may not be charged one at all.
Trustpilot gives Upstart 4.9 stars, which is the highest of all lenders we reviewed. However, it received a below average score in J.D. Power's 2025 U.S. Consumer Lending Satisfaction Study.
pros
- May fund in 1 business day
- 300 minimum credit score in most states
- Low minimum APR
- Trustpilot score of 4.9/5 stars
cons
- May charge a high origination fee
- No discounts offered
Time to get funds
As soon as 1 to 3 business days
Loan uses
Pay off credit cards, consolidate debt, relocate, make a large purchase, and other purposes
Read full reviewCredible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more.
Read our full methodology.
Overview
Best Egg is a solid lender for a wide range of borrowers. It offers competitive rates, reasonable loan terms and amounts, and personal loans for fair credit. You'll need a FICO score of at least 600 to qualify, which means borrowers with fair credit are eligible. Plus, Best Egg is one of a handful of Credible partner lenders to offer secured loans, and the only one we know of that offers loans secured by the fixtures in your home. This can be a great way for homeowners to lower their rate, while not putting their actual home up as collateral.
However, Best Egg loans may have an origination fee, which ranges from 0.99% to 9.99% of the loan amount.
pros
- Secured loans available
- Low minimum income requirement
- Wide range of loan purposes allowed
- Funds in 1-3 business days
cons
- Origination fees
- No discounts
- Not available in DC, IA, VT, or WV
Fees
Origination fee, late fee, unsuccessful payment fee, check processing fee
Eligibility
Available in all states except DC, IA, VT, and WV
Time to get funds
As soon as 1 to 3 business days after successful verification
Loan uses
Credit card refinancing, debt consolidation, home improvement, and other purposes
Read full reviewCredible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more.
Read our full methodology.
Overview
LendingClub makes loans to borrowers across the credit spectrum and stands out for its low rates, based on Credible personal loan data. The lender had some of the lowest APRs for borrowers with fair credit (FICO 580 - 669), very good credit (FICO 740 - 799), and excellent credit (FICO 800+), compared to other Credible partner lenders. The lender has a low minimum income requirement, wide availability, and offers a mobile app for streamlined loan management.
LendingClub may charge an origination fee between 3% and 8%.
pros
- Mobile app
- Low minimum income requirement
- High close rate on loans made through Credible
- Available in all states
cons
- Origination fee
- No discounts
Eligibility
Available in all 50 states
Time to get funds
As soon as next-day funding once approved
Loan uses
Debt consolidation, paying off credit cards
Read full reviewCredible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more.
Read our full methodology.
Overview
Happy Money has been in operation since 2009 (formerly known as Payoff). It's an option for fair-credit borrowers (plus those with better credit), and notably has a relatively low top-end APR. In other words, you could qualify for a lower rate with Happy Money with fair credit, relative to other lenders that offer fair-credit loans. The company does charge an origination fee on some loans, up to 5%, but that's not as high as some other lenders' origination fees.
You should be prepared to wait a few days to get your money, as funding can take three to five days once approved. And loans aren't available in Massachusetts or Nevada. Happy Money has an A+ rating with the BBB and is ideal for debt consolidation and credit card consolidation loans.
pros
- Mobile app
- Live chat
- Low maximum APR
cons
- Limited loan terms available
- No discounts
- Origination fees
- Not available in IA, MA or NV
Eligibility
Available in all states except IA, MA and NV
Time to get funds
As soon as 2 - 5 business days after verification
Loan uses
Debt consolidation and credit card consolidation only
Read full reviewCredible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more.
Read our full methodology.
Overview
It’s worth considering a personal loan through Splash if you have good credit (ideally, a FICO score above 700). The platform offers loans from a wide range of lenders, and next-day funding is available. Plus, Splash has a live chat feature so you can get real-time answers without having to wait on hold or for an email. Loans are available up to $100,000 if you apply via Splash’s website.
Rates are competitive, but borrowers with excellent credit may find lower APRs elsewhere. If you need a repayment term longer than five years, you’ll need to look elsewhere as well.
pros
- Excellent customer reviews on Trustpilot
- Funding as soon as the next business day
- Large loan amounts available
cons
- Possible origination fee up to 7.49% (through Credible)
- Other lenders may have lower starting APRs
- No cosigner option
Loan amount
$5,000 - $100,000 (up to $50,000 on Credible)
Eligibility
Available in all states. OH and NM net disbursed amount must be greater than $5,000. MA must be greater than $6,000
Loan uses
Debt consolidation, credit card refinancing, home improvement, major purchases, paying bills or rent
Read full reviewCredible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more.
Read our full methodology.
Overview
Citi offers no-fee personal loans to borrowers with good credit (a FICO credit score of 720 or higher). No-fee means no origination fees and no late fees, and Citi is one of few lenders that don’t charge either. (Origination fees are deducted from the loan upfront, reducing the amount you receive).
The company also offers a generous 0.50 percentage point autopay discount and makes same day funding available to current Citi customers. However, Citi requires a relatively high credit score to qualify and caps the amount you can borrow at $30,000, which is less than most of its competitors.
Citi came in second for overall customer satisfaction in J.D. Power's 2025 Consumer Lending Satisfaction Study.
pros
- No origination fees
- Autopay discount
- 2nd in J.D. Power's Consumer Lending Satisfaction Study
- 100% digital process
cons
- Max loan amount is lower than most lenders
- High credit score required
Discounts
0.5% APR autopay discount
Time to get funds
Same day with an existing Citi account, or within 2 business days with a non-Citi account
Loan uses
Can be used for almost any purpose, except for using the proceeds for post-secondary expenses or business purposes.
Read full reviewCredible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more.
Read our full methodology.
Overview
Jenius Bank offers personal loans for fair and better credit with competitive features, including a low maximum APR, an autopay discount, and no origination fees. Funding is available as soon as the next business day and repayment terms can extend up to six years. The bank also offers a mobile app for convenient management.
However, potential drawbacks include a high minimum loan amount, a low Trustpilot rating, and the unavailability of joint loans.
pros
- Low maximum APR
- Autopay discount
- Next-day funding
- Fair-credit eligible
- Mobile app
- No origination fees
- Terms up to 6 years
cons
- High minimum loan amount
- Low customer service ratings
- No joint loans
Eligibility
All states except HI, NV, WI
Min. income
Must be greater than $20,000
Customer service
Mobile app; 24/7 telephone support
Time to get funds
As early as the next business day
Loan uses
For personal, family, or household uses
Read full reviewCredible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more.
Read our full methodology.
Overview
Reach is an option if you have fair credit, especially if you need money fast. According to the company, 90% of Reach personal loans are funded within one day of approval. You can also choose between bi-weekly, semi-monthly, or monthly payment schedules.
It's a good choice for debt consolidation and credit card refinancing, but borrowers with excellent credit may not find the lowest rates with Reach. The company also charges more fees than some of its competitors and doesn't offer direct pay or autopay discounts. If you need a 7-year term loan, you'll need to look elsewhere. Reach personal loans are not available in all states.
pros
- Fast funding
- Can improve credit
- Flexible payment options
- Fair-credit borrowers may be eligible
cons
- Limited use
- No direct pay discount
- Origination fee
- Limited availability: Not available in CO, CT, ME, NV, NH, TN, VT, WV, and all U.S. Territories
Fees
Origination Fee, $15 Late Fee, $25 NSF Fee
Eligibility
Available in all states except CO, CT, ME, NV, NH, TN, VT, WV, and all U.S. Territories
Time to get funds
Funds typically deposited into your account in 1 business day13
Loan uses
Debt consolidation and credit card refinancing only
Read full reviewCredible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more.
Read our full methodology.
Overview
Upgrade has a suite of features that make it a very attractive lender: competitive interest rates, discounts for direct pay and autopay, as soon as same-day funding, up to seven-year repayment terms, and nationwide availability. Plus, loans are available to fair-credit borrowers and borrowers with low annual incomes. Upgrade even offers secured personal loans, which is not common among lenders.
However, Upgrade does charge an origination fee of 1.85% to 9.99%.
pros
- Fair credit borrowers eligible
- Autopay and direct pay discounts
- Can fund in as little as 1 business day
- Mobile app
- Secured loans available
- Low annual income requirement
cons
- High maximum origination fee
- Cosigners not accepted on home improvement loans
Loan uses
Credit card refinancing, debt consolidation, home improvement, major purchase, other
Read full reviewCredible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more.
Read our full methodology.
Overview
LendingPoint is a fintech lender that incorporates AI and data analysis in addition to considering your credit score. It offers personal loans for a variety of uses, including debt consolidation, credit card refinancing, and home improvement, with funding as soon as the next business day. You can also manage your account using LendingPoint's mobile app.
With low starting APRs and a mid-600s credit score minimum, LendingPoint is best suited for borrowers with fair credit or a limited credit history looking for smaller loans. Some borrowers with good credit may also benefit from a LendingPoint loan. But borrowers with excellent credit can find lower APRs and larger maximum loan amounts with other lenders.
pros
- Multiple loan terms
- Low minimum APR
- Funds as soon as the next business day after approval
- Trustpilot score of 4.9/5 stars
cons
- Origination fee
- No discounts
- Not available in CT, DC, IA, MD, ME, NE, NV, VT, VW, or any U.S. Territories
Loan amount
$2,000 to $25,000 (up to $36,500 direct with lender)
Fees
Origination fee (option to deduct upfront or add to financed amount)
Discounts
Rate discount review after 6 months of on-time payments)
Eligibility
Not available in CT, DC, IA, MD, ME, NE, NV, VT, VW, or any U.S. Territories (eligible states may vary on the lender’s site)
Min. income
$35,000 ($39,000 through Credible)
Time to get funds
As soon as the next business day
Loan uses
Debt consolidation, credit card financing, home improvement, wedding, medical or dental, car repair, taxes, other personal financial expenses
Read full reviewCredible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more.
Read our full methodology.
Overview
SoFi personal loans feature high loan amounts, competitive interest rates, as soon as same-day funding, and long loan terms, plus discounts for autopay and direct pay. Plus, SoFi offers live chat and free financial advice for customers. Unlike many other online lenders, SoFi is an FDIC-insured bank, which means SoFi makes loans directly and does not partner with a third-party to originate loans. It also means that you could have your checking, savings, and loan accounts all in one place.
To qualify for an unsecured loan, it's best to have good credit. But unlike other lenders, SoFi doesn't specify a credit score minimum. It also has optional origination fees — you might elect to pay on to reduce your interest rate. Minimum loan amounts start at $5,000.
pros
- Large loan amounts available
- Autopay and direct pay discounts
- Same day funding
- Long loan terms available
cons
- Not transparent about minimum credit score requirements
- 5,000 minimum loan amount
Fees
Option to pay an origination fee in exchange for a lower rate
Time to get funds
Typically within a few days, given approval and bank account verification, but sometimes within the same day
Loan uses
Solely for personal, family, or household uses
Read full reviewCredible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more.
Read our full methodology.
Overview
Prosper is the only remaining true P2P marketplace in the peer-to-peer lending space that connects borrowers with individual investors for some loans. If you apply for a loan with Prosper, the funding may come from an individual who has chosen to invest in you.
Prosper offers personal loans between $2,000 and $50,000 with terms between 2 and 5 years, and funding as soon as one business day. You can use a personal loan through Prosper for a variety of purposes, including debt consolidation and home improvement. The platform has excellent customer service reviews on Trustpilot, as well.
pros
- Offers peer-to-peer lending (individuals can invest in personal loans)
- Can fund in 1 business day
- Open to borrowers with fair credit
- Low minimum APR
cons
- Origination fee
- Not available in Iowa or West Virginia
- No discounts
Eligibility
Available in all states except IA and WV
Time to get funds
On average, within 5 days of accepting your offer
Loan uses
Debt consolidation, home improvement, vehicles, small business, new baby expenses, and other purposes
Read full reviewCredible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more.
Read our full methodology.
Overview
Rocket Loans delivers no-frills same-day personal loans with a generous autopay discount to good-credit borrowers and some borrowers with fair credit. APRs and available loan amounts are competitive — Rocket Loans offers loans up to $45,000. Plus, the company offers small business loans if you apply directly through its website. Notably, Rocket Loans delivered lower average rates than many competitors to borrowers with very good and excellent credit (based on closed loans data from the Credible marketplace over the last 12 months).
However, you'll only have a choice between two repayment terms — 3 or 5 years — and origination fees can be as high as 9%. You may qualify with fair credit, but Rocket Loans doesn't offer cosigned or secured options that could help you qualify or lower your rate.
pros
- Funding as soon as the same day
- Excellent Trustpilot rating
- Offers an autopay discount
- Low rates for very good and excellent credit
cons
- Origination fee up to 9% of the loan amount
- No cosigned or secured loans
- Only two repayment term options: 36 or 60 months
Fees
Late fee, origination fee up to 9%
Eligibility
Not available in IA, NV, WV, PR, MD
Time to get funds
As soon as same business day
Loan purposes
Debt Consolidation, Credit Card Refinancing, Home Improvements
Read full reviewCredible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more.
Read our full methodology.
Overview
Avant personal loans are a good choice for borrowers with bad credit looking for small- to moderate-sized personal loans. Loans are available up to $35,000 and you could get the money as soon as the next business day after approval. Plus, Avant is more likely than some lenders to approve the applications of borrowers who've prequalified with Avant. However, the lender charges an origination fee up to 9.99%, and its top-range interest rates are among the highest of the lenders we reviewed.
pros
- Borrowers with bad credit considered
- Funds as soon as the next business day
- 2-year loan terms available
cons
- No discounts offered
- Origination fee
- Not available in HI, IA, MA, ME, NY, VT, WV, WA, AP, AE, and AA
Fees
Origination fee, late fee, dishonored payment fee
Eligibility
Available in all states except HI, IA, MA, ME, NY, VT, WV, WA, AP, AE, and AA
Time to get funds
As soon as the next business day (if approved by 4:30 p.m. CT on a weekday)
Loan uses
Debt consolidation, emergency expense, life event, home improvement, and other purposes
Read full reviewCredible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more.
Read our full methodology.
Overview
BHG Financial stands out for offering the largest loan amounts — up to $250,000 — of any Credible partner lenders. Simply put, if you need an unsecured personal loan over $100,000, there are very few places to look, but BHG is one. You'll have up to 10 years to repay the loan, but you'll need an annual income of at least $100,000 to qualify and a FICO score that's 660 or higher.
Loan amounts start at $20,000, so look elsewhere for small loans. And BHG charges a modest origination fee between 3% and 4%, depending on your financial profile. Loan funds are available within five to 14 days of loan approval and must be used for debt consolidation or credit card refinancing.
pros
- Eligible applicants can borrow up to $250,000
- Considers borrowers with fair credit
- Long repayment terms
cons
- Not available in CT, ID, IL, LA, MD, ME, MT, ND, and VT
- No discounts
- Minimum annual income requirement of $100,000
- Funding takes at least five days
Fees
Origination fees, late fees, other fees may apply
Eligibility
Available in all states except CT, ID, IL, LA, MD, ME, MT, ND, and VT
Loan uses
Debt consolidation, credit card refinancing
Read full reviewCredible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more.
Read our full methodology.
Overview
Reprise may be an excellent option if you need a loan with bad credit. Not only does it offer bad credit loans, but the lender delivered the lowest rates, on average, to borrowers with bad credit compared to other Credible partners offering loans for bad credit. (Average interest rates are based on Credible personal loans data across credit score tiers over the last 12 months.) The lender also offers secured loans as well as some cosigned loans to help you qualify.
Reprise loans are a great options for emergencies as loan funds can be available the next business day once you’re approved. Plus, the company has a 4.7 Trustpilot rating and a 4.16 customer rating on BBB (the Better Business Bureau) — indicating satisfied customers.
But Reprise is not for everyone. Available loan amounts are capped at a relatively low $25,000, Reprise may charge an origination fee, and there are no discounts for autopay or direct pay to creditors when using the loan to consolidate debt.
pros
- Loans for bad credit
- 4.7 Trustpilot rating
- Secured loans available
- Cosigners considered
- Next-day funding available
- Easy to contact
cons
- Does not accept self-employment income as a primary income source
- Relatively low maximum loan amount
- Origination fees up to 6%
- Not available nationwide
- No discounts for autopay or direct pay
Loan amount
$2,500 to $25,000 (Minimum $5,000 for OH, Minimum $3,500 for GA)
Fees
$15 late fee except where the state has a different limit (ie. NM), return payment fees - $20 except where state has a different limit (ie – NM), and no prepayment penalty
Eligibility
Unavailable in CO, CT, HI, IA, ME, MD, MA, NV, NJ, NY, SD, VT, WA, and WV
Time to get funds
1-7 business days depending on loan security type
Loan uses
Credit card refinancing, debt consolidation, emergencies, major purchases, medical and dental expenses, moving expenses, special occasions, unexpected expenses, vacation and travel
Read full reviewCredible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more.
Read our full methodology.
Overview
Universal Credit offers loan amounts up to $50,000, repayment terms up to seven years, and discounts for direct pay and autopay. Funds are available as soon as the next business day after loan approval.
Note that rates and fees can be relatively high — you may pay an origination fee from 5.25% to 9.99%, and APRs start at 11.69%. If you get a loan with a high interest rate, consider refinancing your personal loan at a lower rate once you've improved your credit score.
pros
- Borrowers with low credit scores considered
- $25,000 annual income requirement
- Autopay and direct pay discounts available
- Can fund in one business day
cons
- High APRs
- Potentially high origination fees
- Not available in Iowa
Time to get funds
As soon as 1 business day after acceptance
Loan uses
Debt consolidation, pay off credit cards, home improvements, unexpected expenses, home and auto repairs, weddings, and other major purchases
Read full reviewCredible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more.
Read our full methodology.
Overview
OneMain Financial has multiple options for bad-credit personal loans. There is no minimum credit score required (if you apply directly with OneMain), which means you could get a loan with bad credit (FICO below 580). Plus, cosigners are allowed — a cosigner is someone (ideally, with good credit) who promises to repay the loan if you can't, which can make it easier to qualify or lower your rate. And, secured personal loans are available. You secure a loan with collateral, which may also help you qualify or lower your rate.
Rates are higher than competitors and OneMain charges origination fees as either a flat fee up to $500, or a percentage from 1% to 10% (depending on your state of residence). Note that even if you prequalify for a personal loan with OneMain, getting approved isn't a given.
pros
- Flexible eligibility requirements
- Offers secured options
- Competitive bad-credit loans
- Physical presence
cons
- Availability
- Origination fees
- High starting APR
- Low maximum loan amount
Fees
Origination fee, unsuccessful payment fee, late fee
Eligibility
Must have photo I.D. issued by U.S. federal, state or local government
Time to get funds
As soon as 1 to 2 days after acceptance
Loan use
All except business, and education
Read full reviewCredible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more.
Read our full methodology.
Overview
LightStream is one of three Credible partner lenders to offer loan amounts up to $100,000, which makes it ideal for financing large expenses. Plus, rates on LightStream personal loans were the lowest among all Credible partner lenders, on average, for borrowers with good, very good, and excellent credit, according to Credible personal loans data over the past year. There are no origination fees and loans can be used for a wide range of purposes
Funds are available as soon as the same day you apply, and you'll have up to 20 years to repay certain types of loans, including home improvement loans, RV loans, and boat loans.
Unlike most lenders, LightStream does not let you prequalify on its site — but you can prequalify through Credible. LightStream scored better than average in J.D. Power's 2025 U.S. Consumer Lending Satisfaction Study, beating out online lender SoFi by one position.
pros
- Same-day funding available
- High maximum loan amount
- No origination fee
cons
- Good credit required
- No prequalification process
- Not available in Vermont
Repayment terms
2 - 20 years, depending on loan purpose
Eligibility
Available in all states except VT
Time to get funds
As soon as the same business day
Loan uses
Credit card refinancing, debt consolidation, home improvement, and other purposes
Read full reviewCredible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more.
Read our full methodology.
Overview
More borrowers are able to prequalify with Upstart compared to all other Credible partners, based on Credible personal loans data. This could make the lender a good choice if you have at least fair credit and have struggled to qualify with other lenders. It also offers loans as low as $1,000, which makes it a good choice if you need a small loan. Just know that Upstart may charge an origination fee as high as 12%, but good-credit borrowers may not be charged one at all.
Trustpilot gives Upstart 4.9 stars, which is the highest of all lenders we reviewed. However, it received a below average score in J.D. Power's 2025 U.S. Consumer Lending Satisfaction Study.
pros
- May fund in 1 business day
- 300 minimum credit score in most states
- Low minimum APR
- Trustpilot score of 4.9/5 stars
cons
- May charge a high origination fee
- No discounts offered
Time to get funds
As soon as 1 to 3 business days
Loan uses
Pay off credit cards, consolidate debt, relocate, make a large purchase, and other purposes
Read full reviewCredible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more.
Read our full methodology.
Overview
Best Egg is a solid lender for a wide range of borrowers. It offers competitive rates, reasonable loan terms and amounts, and personal loans for fair credit. You'll need a FICO score of at least 600 to qualify, which means borrowers with fair credit are eligible. Plus, Best Egg is one of a handful of Credible partner lenders to offer secured loans, and the only one we know of that offers loans secured by the fixtures in your home. This can be a great way for homeowners to lower their rate, while not putting their actual home up as collateral.
However, Best Egg loans may have an origination fee, which ranges from 0.99% to 9.99% of the loan amount.
pros
- Secured loans available
- Low minimum income requirement
- Wide range of loan purposes allowed
- Funds in 1-3 business days
cons
- Origination fees
- No discounts
- Not available in DC, IA, VT, or WV
Fees
Origination fee, late fee, unsuccessful payment fee, check processing fee
Eligibility
Available in all states except DC, IA, VT, and WV
Time to get funds
As soon as 1 to 3 business days after successful verification
Loan uses
Credit card refinancing, debt consolidation, home improvement, and other purposes
Read full reviewCredible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more.
Read our full methodology.
Overview
LendingClub makes loans to borrowers across the credit spectrum and stands out for its low rates, based on Credible personal loan data. The lender had some of the lowest APRs for borrowers with fair credit (FICO 580 - 669), very good credit (FICO 740 - 799), and excellent credit (FICO 800+), compared to other Credible partner lenders. The lender has a low minimum income requirement, wide availability, and offers a mobile app for streamlined loan management.
LendingClub may charge an origination fee between 3% and 8%.
pros
- Mobile app
- Low minimum income requirement
- High close rate on loans made through Credible
- Available in all states
cons
- Origination fee
- No discounts
Eligibility
Available in all 50 states
Time to get funds
As soon as next-day funding once approved
Loan uses
Debt consolidation, paying off credit cards
Read full reviewCredible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more.
Read our full methodology.
Overview
Happy Money has been in operation since 2009 (formerly known as Payoff). It's an option for fair-credit borrowers (plus those with better credit), and notably has a relatively low top-end APR. In other words, you could qualify for a lower rate with Happy Money with fair credit, relative to other lenders that offer fair-credit loans. The company does charge an origination fee on some loans, up to 5%, but that's not as high as some other lenders' origination fees.
You should be prepared to wait a few days to get your money, as funding can take three to five days once approved. And loans aren't available in Massachusetts or Nevada. Happy Money has an A+ rating with the BBB and is ideal for debt consolidation and credit card consolidation loans.
pros
- Mobile app
- Live chat
- Low maximum APR
cons
- Limited loan terms available
- No discounts
- Origination fees
- Not available in IA, MA or NV
Eligibility
Available in all states except IA, MA and NV
Time to get funds
As soon as 2 - 5 business days after verification
Loan uses
Debt consolidation and credit card consolidation only
Read full reviewCredible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more.
Read our full methodology.
Overview
It’s worth considering a personal loan through Splash if you have good credit (ideally, a FICO score above 700). The platform offers loans from a wide range of lenders, and next-day funding is available. Plus, Splash has a live chat feature so you can get real-time answers without having to wait on hold or for an email. Loans are available up to $100,000 if you apply via Splash’s website.
Rates are competitive, but borrowers with excellent credit may find lower APRs elsewhere. If you need a repayment term longer than five years, you’ll need to look elsewhere as well.
pros
- Excellent customer reviews on Trustpilot
- Funding as soon as the next business day
- Large loan amounts available
cons
- Possible origination fee up to 7.49% (through Credible)
- Other lenders may have lower starting APRs
- No cosigner option
Loan amount
$5,000 - $100,000 (up to $50,000 on Credible)
Eligibility
Available in all states. OH and NM net disbursed amount must be greater than $5,000. MA must be greater than $6,000
Loan uses
Debt consolidation, credit card refinancing, home improvement, major purchases, paying bills or rent
Read full reviewCredible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more.
Read our full methodology.
Overview
Citi offers no-fee personal loans to borrowers with good credit (a FICO credit score of 720 or higher). No-fee means no origination fees and no late fees, and Citi is one of few lenders that don’t charge either. (Origination fees are deducted from the loan upfront, reducing the amount you receive).
The company also offers a generous 0.50 percentage point autopay discount and makes same day funding available to current Citi customers. However, Citi requires a relatively high credit score to qualify and caps the amount you can borrow at $30,000, which is less than most of its competitors.
Citi came in second for overall customer satisfaction in J.D. Power's 2025 Consumer Lending Satisfaction Study.
pros
- No origination fees
- Autopay discount
- 2nd in J.D. Power's Consumer Lending Satisfaction Study
- 100% digital process
cons
- Max loan amount is lower than most lenders
- High credit score required
Discounts
0.5% APR autopay discount
Time to get funds
Same day with an existing Citi account, or within 2 business days with a non-Citi account
Loan uses
Can be used for almost any purpose, except for using the proceeds for post-secondary expenses or business purposes.
Read full reviewCredible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more.
Read our full methodology.
Overview
Jenius Bank offers personal loans for fair and better credit with competitive features, including a low maximum APR, an autopay discount, and no origination fees. Funding is available as soon as the next business day and repayment terms can extend up to six years. The bank also offers a mobile app for convenient management.
However, potential drawbacks include a high minimum loan amount, a low Trustpilot rating, and the unavailability of joint loans.
pros
- Low maximum APR
- Autopay discount
- Next-day funding
- Fair-credit eligible
- Mobile app
- No origination fees
- Terms up to 6 years
cons
- High minimum loan amount
- Low customer service ratings
- No joint loans
Eligibility
All states except HI, NV, WI
Min. income
Must be greater than $20,000
Customer service
Mobile app; 24/7 telephone support
Time to get funds
As early as the next business day
Loan uses
For personal, family, or household uses
Read full reviewCredible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more.
Read our full methodology.
Overview
Reach is an option if you have fair credit, especially if you need money fast. According to the company, 90% of Reach personal loans are funded within one day of approval. You can also choose between bi-weekly, semi-monthly, or monthly payment schedules.
It's a good choice for debt consolidation and credit card refinancing, but borrowers with excellent credit may not find the lowest rates with Reach. The company also charges more fees than some of its competitors and doesn't offer direct pay or autopay discounts. If you need a 7-year term loan, you'll need to look elsewhere. Reach personal loans are not available in all states.
pros
- Fast funding
- Can improve credit
- Flexible payment options
- Fair-credit borrowers may be eligible
cons
- Limited use
- No direct pay discount
- Origination fee
- Limited availability: Not available in CO, CT, ME, NV, NH, TN, VT, WV, and all U.S. Territories
Fees
Origination Fee, $15 Late Fee, $25 NSF Fee
Eligibility
Available in all states except CO, CT, ME, NV, NH, TN, VT, WV, and all U.S. Territories
Time to get funds
Funds typically deposited into your account in 1 business day13
Loan uses
Debt consolidation and credit card refinancing only
Read full reviewCredible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more.
Read our full methodology.
Overview
Upgrade has a suite of features that make it a very attractive lender: competitive interest rates, discounts for direct pay and autopay, as soon as same-day funding, up to seven-year repayment terms, and nationwide availability. Plus, loans are available to fair-credit borrowers and borrowers with low annual incomes. Upgrade even offers secured personal loans, which is not common among lenders.
However, Upgrade does charge an origination fee of 1.85% to 9.99%.
pros
- Fair credit borrowers eligible
- Autopay and direct pay discounts
- Can fund in as little as 1 business day
- Mobile app
- Secured loans available
- Low annual income requirement
cons
- High maximum origination fee
- Cosigners not accepted on home improvement loans
Loan uses
Credit card refinancing, debt consolidation, home improvement, major purchase, other
Read full reviewCredible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more.
Read our full methodology.
Overview
LendingPoint is a fintech lender that incorporates AI and data analysis in addition to considering your credit score. It offers personal loans for a variety of uses, including debt consolidation, credit card refinancing, and home improvement, with funding as soon as the next business day. You can also manage your account using LendingPoint's mobile app.
With low starting APRs and a mid-600s credit score minimum, LendingPoint is best suited for borrowers with fair credit or a limited credit history looking for smaller loans. Some borrowers with good credit may also benefit from a LendingPoint loan. But borrowers with excellent credit can find lower APRs and larger maximum loan amounts with other lenders.
pros
- Multiple loan terms
- Low minimum APR
- Funds as soon as the next business day after approval
- Trustpilot score of 4.9/5 stars
cons
- Origination fee
- No discounts
- Not available in CT, DC, IA, MD, ME, NE, NV, VT, VW, or any U.S. Territories
Loan amount
$2,000 to $25,000 (up to $36,500 direct with lender)
Fees
Origination fee (option to deduct upfront or add to financed amount)
Discounts
Rate discount review after 6 months of on-time payments)
Eligibility
Not available in CT, DC, IA, MD, ME, NE, NV, VT, VW, or any U.S. Territories (eligible states may vary on the lender’s site)
Min. income
$35,000 ($39,000 through Credible)
Time to get funds
As soon as the next business day
Loan uses
Debt consolidation, credit card financing, home improvement, wedding, medical or dental, car repair, taxes, other personal financial expenses
Read full reviewCredible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more.
Read our full methodology.
Overview
SoFi personal loans feature high loan amounts, competitive interest rates, as soon as same-day funding, and long loan terms, plus discounts for autopay and direct pay. Plus, SoFi offers live chat and free financial advice for customers. Unlike many other online lenders, SoFi is an FDIC-insured bank, which means SoFi makes loans directly and does not partner with a third-party to originate loans. It also means that you could have your checking, savings, and loan accounts all in one place.
To qualify for an unsecured loan, it's best to have good credit. But unlike other lenders, SoFi doesn't specify a credit score minimum. It also has optional origination fees — you might elect to pay on to reduce your interest rate. Minimum loan amounts start at $5,000.
pros
- Large loan amounts available
- Autopay and direct pay discounts
- Same day funding
- Long loan terms available
cons
- Not transparent about minimum credit score requirements
- 5,000 minimum loan amount
Fees
Option to pay an origination fee in exchange for a lower rate
Time to get funds
Typically within a few days, given approval and bank account verification, but sometimes within the same day
Loan uses
Solely for personal, family, or household uses
Read full reviewCredible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more.
Read our full methodology.
Overview
Prosper is the only remaining true P2P marketplace in the peer-to-peer lending space that connects borrowers with individual investors for some loans. If you apply for a loan with Prosper, the funding may come from an individual who has chosen to invest in you.
Prosper offers personal loans between $2,000 and $50,000 with terms between 2 and 5 years, and funding as soon as one business day. You can use a personal loan through Prosper for a variety of purposes, including debt consolidation and home improvement. The platform has excellent customer service reviews on Trustpilot, as well.
pros
- Offers peer-to-peer lending (individuals can invest in personal loans)
- Can fund in 1 business day
- Open to borrowers with fair credit
- Low minimum APR
cons
- Origination fee
- Not available in Iowa or West Virginia
- No discounts
Eligibility
Available in all states except IA and WV
Time to get funds
On average, within 5 days of accepting your offer
Loan uses
Debt consolidation, home improvement, vehicles, small business, new baby expenses, and other purposes
Read full reviewCredible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more.
Read our full methodology.
Overview
Rocket Loans delivers no-frills same-day personal loans with a generous autopay discount to good-credit borrowers and some borrowers with fair credit. APRs and available loan amounts are competitive — Rocket Loans offers loans up to $45,000. Plus, the company offers small business loans if you apply directly through its website. Notably, Rocket Loans delivered lower average rates than many competitors to borrowers with very good and excellent credit (based on closed loans data from the Credible marketplace over the last 12 months).
However, you'll only have a choice between two repayment terms — 3 or 5 years — and origination fees can be as high as 9%. You may qualify with fair credit, but Rocket Loans doesn't offer cosigned or secured options that could help you qualify or lower your rate.
pros
- Funding as soon as the same day
- Excellent Trustpilot rating
- Offers an autopay discount
- Low rates for very good and excellent credit
cons
- Origination fee up to 9% of the loan amount
- No cosigned or secured loans
- Only two repayment term options: 36 or 60 months
Fees
Late fee, origination fee up to 9%
Eligibility
Not available in IA, NV, WV, PR, MD
Time to get funds
As soon as same business day
Loan purposes
Debt Consolidation, Credit Card Refinancing, Home Improvements
Read full reviewCredible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more.
Read our full methodology.
Overview
Avant personal loans are a good choice for borrowers with bad credit looking for small- to moderate-sized personal loans. Loans are available up to $35,000 and you could get the money as soon as the next business day after approval. Plus, Avant is more likely than some lenders to approve the applications of borrowers who've prequalified with Avant. However, the lender charges an origination fee up to 9.99%, and its top-range interest rates are among the highest of the lenders we reviewed.
pros
- Borrowers with bad credit considered
- Funds as soon as the next business day
- 2-year loan terms available
cons
- No discounts offered
- Origination fee
- Not available in HI, IA, MA, ME, NY, VT, WV, WA, AP, AE, and AA
Fees
Origination fee, late fee, dishonored payment fee
Eligibility
Available in all states except HI, IA, MA, ME, NY, VT, WV, WA, AP, AE, and AA
Time to get funds
As soon as the next business day (if approved by 4:30 p.m. CT on a weekday)
Loan uses
Debt consolidation, emergency expense, life event, home improvement, and other purposes
Read full reviewCredible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more.
Read our full methodology.
Overview
BHG Financial stands out for offering the largest loan amounts — up to $250,000 — of any Credible partner lenders. Simply put, if you need an unsecured personal loan over $100,000, there are very few places to look, but BHG is one. You'll have up to 10 years to repay the loan, but you'll need an annual income of at least $100,000 to qualify and a FICO score that's 660 or higher.
Loan amounts start at $20,000, so look elsewhere for small loans. And BHG charges a modest origination fee between 3% and 4%, depending on your financial profile. Loan funds are available within five to 14 days of loan approval and must be used for debt consolidation or credit card refinancing.
pros
- Eligible applicants can borrow up to $250,000
- Considers borrowers with fair credit
- Long repayment terms
cons
- Not available in CT, ID, IL, LA, MD, ME, MT, ND, and VT
- No discounts
- Minimum annual income requirement of $100,000
- Funding takes at least five days
Fees
Origination fees, late fees, other fees may apply
Eligibility
Available in all states except CT, ID, IL, LA, MD, ME, MT, ND, and VT
Loan uses
Debt consolidation, credit card refinancing
Read full reviewCredible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more.
Read our full methodology.
Overview
Reprise may be an excellent option if you need a loan with bad credit. Not only does it offer bad credit loans, but the lender delivered the lowest rates, on average, to borrowers with bad credit compared to other Credible partners offering loans for bad credit. (Average interest rates are based on Credible personal loans data across credit score tiers over the last 12 months.) The lender also offers secured loans as well as some cosigned loans to help you qualify.
Reprise loans are a great options for emergencies as loan funds can be available the next business day once you’re approved. Plus, the company has a 4.7 Trustpilot rating and a 4.16 customer rating on BBB (the Better Business Bureau) — indicating satisfied customers.
But Reprise is not for everyone. Available loan amounts are capped at a relatively low $25,000, Reprise may charge an origination fee, and there are no discounts for autopay or direct pay to creditors when using the loan to consolidate debt.
pros
- Loans for bad credit
- 4.7 Trustpilot rating
- Secured loans available
- Cosigners considered
- Next-day funding available
- Easy to contact
cons
- Does not accept self-employment income as a primary income source
- Relatively low maximum loan amount
- Origination fees up to 6%
- Not available nationwide
- No discounts for autopay or direct pay
Loan amount
$2,500 to $25,000 (Minimum $5,000 for OH, Minimum $3,500 for GA)
Fees
$15 late fee except where the state has a different limit (ie. NM), return payment fees - $20 except where state has a different limit (ie – NM), and no prepayment penalty
Eligibility
Unavailable in CO, CT, HI, IA, ME, MD, MA, NV, NJ, NY, SD, VT, WA, and WV
Time to get funds
1-7 business days depending on loan security type
Loan uses
Credit card refinancing, debt consolidation, emergencies, major purchases, medical and dental expenses, moving expenses, special occasions, unexpected expenses, vacation and travel
Read full reviewCredible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more.
Read our full methodology.
Overview
Universal Credit offers loan amounts up to $50,000, repayment terms up to seven years, and discounts for direct pay and autopay. Funds are available as soon as the next business day after loan approval.
Note that rates and fees can be relatively high — you may pay an origination fee from 5.25% to 9.99%, and APRs start at 11.69%. If you get a loan with a high interest rate, consider refinancing your personal loan at a lower rate once you've improved your credit score.
pros
- Borrowers with low credit scores considered
- $25,000 annual income requirement
- Autopay and direct pay discounts available
- Can fund in one business day
cons
- High APRs
- Potentially high origination fees
- Not available in Iowa
Time to get funds
As soon as 1 business day after acceptance
Loan uses
Debt consolidation, pay off credit cards, home improvements, unexpected expenses, home and auto repairs, weddings, and other major purchases
Read full reviewCredible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more.
Read our full methodology.
Overview
OneMain Financial has multiple options for bad-credit personal loans. There is no minimum credit score required (if you apply directly with OneMain), which means you could get a loan with bad credit (FICO below 580). Plus, cosigners are allowed — a cosigner is someone (ideally, with good credit) who promises to repay the loan if you can't, which can make it easier to qualify or lower your rate. And, secured personal loans are available. You secure a loan with collateral, which may also help you qualify or lower your rate.
Rates are higher than competitors and OneMain charges origination fees as either a flat fee up to $500, or a percentage from 1% to 10% (depending on your state of residence). Note that even if you prequalify for a personal loan with OneMain, getting approved isn't a given.
pros
- Flexible eligibility requirements
- Offers secured options
- Competitive bad-credit loans
- Physical presence
cons
- Availability
- Origination fees
- High starting APR
- Low maximum loan amount
Fees
Origination fee, unsuccessful payment fee, late fee
Eligibility
Must have photo I.D. issued by U.S. federal, state or local government
Time to get funds
As soon as 1 to 2 days after acceptance
Loan use
All except business, and education
Read full reviewGenerally, the higher your credit score, the easier it is to qualify for a loan. That's because lenders have more confidence that you'll make on-time payments over several years and won't default on the loan.
Expert take: “You're more likely to be rejected if you've defaulted on student loans, have accounts in collections, or have a recent bankruptcy. Other red flags include past-due accounts, high balances month-to-month, a history of missed payments, high credit use to credit limit, or opening too many new accounts in a short time. Being relatively new to credit or having little to zero credit history may also result in rejection.”
— Linda Ta Yonemoto, CFEI and Founder of Good For You Money
Keep in mind that your credit score is just one of the factors that affect your chances of qualifying for a personal loan. Your income, debt-to-income ratio (DTI), and whether you apply with a cosigner also impact your approval odds.
Can I get a personal loan with bad credit?
You may be able to get a personal loan with bad credit by applying with a lender that works with bad-credit borrowers.
Alternatively, you can apply for a personal loan with a cosigner or with a joint applicant. While a cosigner doesn't have ownership over loan funds, their information goes on the loan application along with yours. If your cosigner has better credit than you, a lender may be more willing to give you a loan. A joint applicant, on the other hand, shares in the loan proceeds and is equally responsible for repayment from the start.
Both cosigners and co-borrowers take on risk. If you miss payments or default, it will affect both of your credit scores.
Editor insight: “Instead of asking a trusted friend or family member to cosign on your loan, consider asking them to add you as an authorized user on a credit card with a low balance. The credit card will show up on your credit report and can have multiple benefits, including lengthening your credit history, improving (the appearance of) your payment history, and increasing your available credit. As long as you don't use the card, this can be a great way to boost your credit score and potentially qualify for a loan on your own.”
— Meredith Mangan, Senior Loans Editor, Credible
How your credit score impacts your personal loan application
Here's how FICO describes your ability to get a loan as a result of where your credit score falls:
- Poor credit (less than 580): Your score is well below average, and lenders see you as a risky borrower.
- Fair credit (580 to 669): Your score is below average, but many lenders may still offer you a personal loan.
- Good (670 to 739): Your score is at or slightly above average, and lenders consider your score to be good.
- Very good (740 to 799): Your score is above average, and lenders see you as a very dependable borrower.
- Exceptional (800 or higher): Your score is well above average, and lenders see you as an especially trustworthy borrower.
Not only does your credit score impact your ability to qualify for a loan, but it also affects your interest rate. Better credit makes it more likely you'll qualify for a lower interest rate, saving you money over your loan's term.
The following data from Credible shows how having a higher credit score can lower your interest rate:
As the numbers show, even the difference between good and excellent credit can lead to a meaningful difference in rates, which, Yonemoto points out, can “save you thousands of dollars in interest.”
With an excellent score, a low debt-to-income ratio, and sufficient income, “lenders see you as responsible with credit and reward you by offering their very best rate, which is generally the lowest advertised rate that you see appear in their marketing.”
How a personal loan can affect your credit score
When you apply for a personal loan, lenders typically perform a hard credit inquiry, which can affect your FICO score for up to 12 months. However, the impact is small — likely a drop of only a few points. However, some could drop by up to 10 points for up to one year.
However, new credit may have a positive impact on your credit score over time. If a personal loan improves your credit mix, your score can rise. Similarly, if you make consistent on-time payments, your positive payment history will help improve your score. Both those factors might take six months or more to positively impact your score.
However, if you use a personal loan to consolidate credit card debt, you could see a substantial gain in your credit score within one month. That's because by paying off your cards with an installment loan, you'll free up revolving credit. This will, in turn, increase your available credit — which can contribute up to 30% to your score. Since credit card companies typically report to the bureaus monthly, you could see relatively quick credit score gains.
Tips for building credit
If you don't need to borrow money right away, taking time to build your credit can help you qualify for better loan terms. “To increase their creditworthiness, applicants should be deliberate about improving their credit profile and trustworthiness,” says Derrick Creighton Jr., Financial Wellness Coach at BrightUp. “Several months before applying for credit, applicants should attempt to pay down debts, remove inaccuracies on their credit report, and limit credit usage.”
Here's a breakdown of how to do just that:
- Make every payment on time: Payment history is the largest factor affecting your credit score, so missed payments can be detrimental. Keep all payment due dates in your calendar, or better yet, sign up for automatic payments. Just don't rely on autopay and forget about it — if it fails to send on time, you're still on the hook for the late payment.
- Limit your credit utilization: Your credit utilization is the percentage of available credit you use. Lenders don't like to see you maxing out your credit accounts, so keep utilization low when possible — ideally less than 30%. This may mean putting fewer purchases on your credit cards or requesting a credit line increase.
- Keep old accounts open: Closing out an old credit card you no longer use may sound like a good idea, but think twice. The older your credit “age,” the better it is for your credit score. Keeping old accounts open — even if you don't use them — can help your score.
- Check your credit report regularly: Your credit report is a collection of your credit activity, accounts, and payment history. Creditors submit information to credit reporting companies, but errors happen. Check your credit report for free at AnnualCreditReport.com and review it for any mistakes. If you find any, dispute them with the credit reporting agencies. Your credit report doesn't contain your score, but you can check your credit score for free with Credible's credit-monitoring tool.
Other personal loan requirements
Personal loan requirements vary by lender. But most lenders tend to consider the same basic factors in addition to your credit score:
- Income: Lenders want to be sure you have the funds to repay your loan, so they may have minimum income requirements. These requirements vary by lender: For example, Discover requires an annual income of $25,000, while Upstart requires $12,000. Generally, the higher your income, the more money you can borrow.
- Debt-to-income ratio (DTI): Your DTI is the percentage of your monthly income that goes toward repaying your debt. The higher your DTI, the less room you have in your budget, and the less likely you are to qualify for a loan. Lenders typically like to see a DTI of no more than 36%.
- Collateral: Some lenders, like Best Egg, allow you to secure your personal loan with an asset. If you can't repay your loan, the lender can seize your collateral. While this can be risky as a borrower, it can also help you get approved for a loan.
- Other general requirements: Most lenders have additional requirements, such as age and residency requirements. You often have to be at least 18 years old, be a U.S. citizen or permanent resident, submit proof of address, and provide your Social Security or Taxpayer Identification Number.
Alternatives to personal loans
Getting a personal loan is a big financial commitment and isn't always the most affordable, convenient, or practical way to borrow. If you want to explore other options, consider these personal loan alternatives.
- Credit cards: Credit cards typically have higher interest rates than personal loans, and are best used for purchases you can pay off within one month (before interest charges kick in). But if you can get a card with a 0% APR introductory APR and pay off your balance before the rate increases, you could borrow interest-free for 15 to 24 months.
- Home equity loans or HELOCs: Home equity products let you borrow against the equity you have in your home and typically have lower interest rates compared to personal loans. But the approval period can take weeks or more, closing costs may be higher, and you'll need to put your home up as collateral for the loan.
- Payday alternative loans (PALs): For smaller loan amounts, consider a PAL from a credit union. These short-term loans allow credit union members to borrow as much as $2,000 and have an interest rate cap of 28%.
- Cash advance apps: Cash advance apps, or loan apps, let you borrow money against your future paycheck. They may charge instant pay or subscription fees that can lead to ultra-high APRs.
- Buy Now, Pay Later (BNPL): BNPL services allow you to make a purchase in several payments, often spaced two weeks or one month apart. Short-term BNPL plans typically don't come with interest but may charge late fees. Longer-term plans may also be interest-free, depending on the store you're purchasing from and your credit.
- Financial assistance: If you're struggling to keep up with essential expenses, don't overlook financial assistance programs that can help you with food, housing, medical care, utility bills, and more. Visit 211.org to learn about resources available in your area.
FAQ
What is considered a good credit score?
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According to the FICO scoring model, a good credit score is anything between 670 and 739. Scores below this range are either poor or fair, and scores above this range are either very good or exceptional. If your score is lower than you'd like, you can build your credit to increase your odds of personal loan approval.
Can I get a personal loan with a 500 credit score?
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You may be able to get a personal loan with a 500 credit score, but you'll have limited options. You can apply with a lender like OneMain Financial, which has no minimum credit score requirement, but you may face high interest rates. Alternatively, you can apply for a personal loan with a cosigner or with a co-borrower to increase your approval odds.
How long does it take to get approved for a personal loan?
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The amount of time it takes to get a personal loan varies by lender. Some lenders advertise same-day approval and funding, while others may take several days. Generally, you can speed up the approval and funding process by thoroughly completing your application and submitting all necessary documentation upfront.
Meet the expert:
Emily Batdorf
Emily Batdorf is a personal finance expert specializing in banking, lending, credit cards, and budgeting. Her work has been featured by the New York Post and MSN.