Living paycheck to paycheck is difficult enough without costly emergencies arising. If you’ve exhausted all other borrowing options, your last resort might be a payday advance loan or payday cash advance.
These short-term borrowing alternatives offer small loan amounts and are repaid by your next payday. Most payday loans are more accessible for people with bad credit, since lenders often forgo credit checks. However, they’re also more difficult to repay and often trap borrowers in a vicious debt cycle. Personal loans are another option, and are often a better alternative to payday loans.
What is a payday advance online?
Payday loans are available both in-person at a business and online. A payday advance online is just like it sounds — a short-term loan you sign up for on the internet. The loan is typically due your next payday and no credit check is required. Sounds great, except payday loans are notoriously expensive. Their annual percentage rates (APRs) are often in the triple digits. For example, in Texas, the average APR charged on payday loans is 527%.
For this reason, it’s best to consider other options, like cash advance apps, before getting a payday advance.
Learn More: What Are Payday Loans?
How does a payday advance work?
Getting a payday advance online is a simple process. Payday lenders and cash advance apps use a few key pieces of info to approve you for a payday advance online or a cash advance.
You must typically:
- Verify your income
- Have an active bank account
- Have a valid ID (and be at least 18)
There’s usually no credit check with these lenders, so it generally only takes a few minutes to get approval after you apply. If approved, they’ll send you a bank deposit. As part of the contract, you authorize the payday loan or cash advance app company to withdraw the loan amount plus its fee from your bank account the next time you get paid.
Many people use this method to pay for unexpected expenses and emergencies, or to cover bills until their next payday. But access to instant cash comes at a high price. Although loan amounts are typically $500 or less, you could be paying $10 to $30 for each $100 borrowed on a payday loan.
A cash advance app is almost identical in process. But the fees are generally smaller. Some apps charge a monthly subscription fee or request tips at repayment instead.
Learn More: How Do Payday Loans Work?
For example: Let’s say you need to borrow $400 for the next two weeks. You take out a payday loan that charges $15 per $100 you borrow. You would repay a total of $460 — a 391.07% APR.
Instead, you could use a cash advance app to borrow the $400. The app doesn’t charge interest, but asks for a 5% tip at repayment. You’d repay a total of $420 — that’s an APR of 130.36%. Without the optional 5% tip, you’d avoid that high rate.
Pros and cons of a payday advance
Here are a few benefits and drawbacks to consider.
Pros
- Extremely accessible: Whether you choose to get a payday loan online or in person, there’s no shortage of options and there’s often no credit check.
- Quick access to funding: Payday loans are usually approved within minutes and paid out within the same day or the next day.
- Helps you pay for urgent needs: When you’re out of options and need cash to pay for an emergency, payday loans are expensive, but could mean you can pay for it.
Cons
- Exorbitant rates: In some cases, you’re paying an equivalent of up to 400% APR for a two-week borrowing term.
- Excessive fees: These loans often come with origination fees, prepayment penalties, late fees, and renewal fees that add to your balance.
- Prohibited in multiple states: High-cost payday lending is illegal in 16 states, D.C., and multiple territories.
- Can create an almost inescapable debt cycle: Deducting interest and fees from your paycheck could make you reliant on payday loans to cover a lack of income. In states without regulations, payday loans can “rollover” your unpaid balance to a new loan and charge you for it.
Payday loan online lenders
Consider all of your other options before choosing a payday advance online. If you have no choice and payday loans are legal in your state, this lender is transparently priced and appears reputable, but proceed with caution.
Possible Finance
Possible Finance offers small loans of up to $500 that you repay within four payments. There are no late fees or penalty fees and they report your payment history to TransUnion and Experian to help you build credit.
The negative is how much the loans cost. Possible Finance’s annual percentage rates (APR) — which account for the interest rate plus fees — are generally around 150%. For comparison, APRs on personal loans for those with bad credit generally top out around 36%.
Other online loan options for bad credit
The following lenders don't offer traditional payday loans, but may be a good option if you need a longer repayment term or higher loan amount.
60 Month Loans
60 Month Loans provides loan amounts between $2,000 and $10,000 without a credit check. The repayment terms are also much longer than a typical payday loan, up to five years. Once approved, you should receive the loan funds within one to a few business days.
Relative to other bad-credit loans, the fees for 60MonthLoans appear reasonable. In states like South Carolina and Delaware, for example, 60 Month Loans charges a 7% loan fee and APRs of 35.72%.
OppLoans
OppLoans offers loan amounts from $500 to $5,000 with repayment periods between nine and 18 months. The maximum APR is 195%, which is high, but not as high as some payday loans (you'll need to apply to see your APR). You need to be paid via direct deposits to be eligible, and the company performs a soft credit check when you apply. OppLoans reports to the credit bureaus, which can help you improve credit (if you make payments on time).
Learn More: Short-Term Loan Options
Alternatives to a payday advance
There are several less costly alternatives to borrowing money through a payday advance loan.
- Consider a cash advance app: A cash advance is similar to a payday loan in that you’ll repay the amount on or by your next payday. But cash advance apps typically have lower or no fees, which makes for much lower APRs. However, if you pay a subscription fee to use the service or provide a tip, you can increase the APR substantially, depending on the subscription fee and/or tip.
- Take out a payday alternative loan (PAL): The APR on a PAL tops out at 28%, and the application fee can be no more than $20. Plus, repayment terms can last months, as opposed to 1 or 2 weeks. They’re available from credit unions, so you’ll need to be a member to qualify. Since they’re designed as an alternative to payday loans, qualification is otherwise relatively easy.
- Borrowing money from friends or family: The people who care about you are more likely to lend you money without charging interest. Make sure you’re timely in repaying them.
- Using a credit card: Although credit cards are high-interest revolving debt, they’re the lesser of two evils compared to a payday loan. If you can pay off your balance before the end of the billing cycle, you could save on interest.
- Pick up a side gig: Make some extra money by picking up work after your day job such as food delivery, ride-share driving, part-time retail work, or dog-walking.
- Ask for extra time with your creditors or set up a payment plan: Your bill collectors might give you extra time to pay if you let them know your situation. Some might even offer a payment plan that gradually gets you back on track.
- Use a personal loan from a bank or credit union: Even if you have poor or fair credit, you could still qualify for a personal loan from some banks or credit unions. The terms are more affordable than a payday loan, and you’ll have longer to pay it back.
Keep Reading: Types of Emergency Loans
Personal loan vs. payday advance loans
If you’re considering a payday advance loan, you might think you’re stuck with poor choices. But there’s lower-cost borrowing available through personal loans. Here are the primary differences between them:
- Interest rate: Personal loans have fixed payments and a fixed interest rate, while payday loans typically have compounding interest.
- Credit check: Payday advance loans don’t require a credit check in most cases. Personal loans typically do, and that hard credit inquiry can ding your score by a few points temporarily.
- Loan amounts: Personal loans offer larger loan amounts, ranging from $1,000 to $50,000 on average. Payday advance loans are usually for much smaller amounts — $500 or less.
- Repayment terms: Repaying a personal loan generally happens over 1 to 7 years, but the term could be longer depending on the loan type and lender. Payday loans withdraw repayment from your account by your next payday (usually about two weeks).
Learn More: Payday Loans vs. Personal Loans
| Features | Personal loan | Payday advance loans |
| Repayment terms | Typically 1 to 7 years | Next payday |
| Loan Amounts | $1,000 to $50,000 or more | $500 or less |
| Average interest rate | 11.48% on a 2-year loan, as of May 2023 | 400% |
| Time to funding | 1-3 days for most lenders | Same day or next day |
The 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.
Lender
Fixed (APR)
Loan Amounts
Min. Credit Score
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.
6.49% - 25.29% 2
$5,000 to $100,000
700
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
Loan amount
$5,000 to $100,000
Repayment terms
2 - 20 years, depending on loan purpose
Fees
None
Discounts
Autopay
Eligibility
Available in all states except VT
Min. income
Does not disclose
Customer service
Soft credit check
No
Time to get funds
As soon as the same business day
Loan uses
Credit card refinancing, debt consolidation, home improvement, and other purposes
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.
6.60% - 35.99%
$1,000 to $50,000
620
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
Loan amount
$1,000 to $50,000
Fees
Origination fee
Discounts
None
Eligibility
Available nationwide
Min. income
$12,000
Customer service
Phone, email
Soft credit check
Yes
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
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.
6.99% - 35.99%
$2,000 to $50,000
600
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
Loan amount
$2,000 to $50,000
Fees
Origination fee, late fee, unsuccessful payment fee, check processing fee
Discounts
None
Eligibility
Available in all states except DC, IA, VT, and WV
Min. income
$3,500
Customer service
Phone, email
Soft credit check
Yes
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
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.
7.90% - 35.99%
$1,000 to $60,000
660
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
Loan amount
$1,000 to $60,000
Fees
Origination fee
Discounts
None
Eligibility
Available in all 50 states
Min. income
None
Customer service
Phone, email
Soft credit check
Yes
Time to get funds
As soon as next-day funding once approved
Loan uses
Debt consolidation, paying off credit cards
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.
7.95% - 29.99%
$5,000 to $40,000
640
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
Loan amount
$5,000 to $40,000
Fees
Origination fee
Discounts
None
Eligibility
Available in all states except IA, MA and NV
Min. income
$30,000
Customer service
Phone, email, chat
Soft credit check
Yes
Time to get funds
As soon as 2 - 5 business days after verification
Loan uses
Debt consolidation and credit card consolidation only
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.
-
$5,000 to $50,000
680
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)
Fees
Origination fee
Discounts
None
Eligibility
Available in all states. OH and NM net disbursed amount must be greater than $5,000. MA must be greater than $6,000
Min. income
$25,000
Customer service
Live chat
Soft credit check
Yes
Time to get funds
Typically 1-3 days
Loan uses
Debt consolidation, credit card refinancing, home improvement, major purchases, paying bills or rent
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.
-
$2,000 to $30,000
740
Overview
Citi offers no-fee personal loans to borrowers with very good credit (a FICO credit score of 740 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 minimum credit score required
- 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
Loan amount
$2,000-$30,000
Fees
None
Discounts
0.5% APR autopay discount
Eligibility
N/A
Min. income
$30,000
Customer service
Email and mobile app
Soft credit check
Yes
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.
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.
-
$5,000 to $50,000
652
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
Loan amounts
$5,000 - $50,000
Fees
None
Discounts
Autopay
Eligibility
All states except HI, NV, WI
Min. income
N/A
Customer service
Mobile app; 24/7 telephone support
Soft credit check
Yes
Time to get funds
As early as the next business day
Loan uses
For personal, family, or household uses
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.
7.99% - 35.99%
$1,000 to $40,000
660
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.
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
- 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, or WY
Loan amount
$1,000 to $40,000
Fees
Origination Fee, $15 Late Fee, $25 NSF Fee
Discounts
None
Eligibility
Available in all states except CO, CT, ME, NV, NH, TN, VT, WV, and all U.S. Territories
Min. income
$20,000 annually
Customer service
Phone, email
Soft credit check
Yes
Time to get funds
Funds typically deposited into your account in 1 business day13
Loan uses
Debt consolidation and credit card refinancing only
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.
7.99% - 35.99%
$1,000 to $50,000
580
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 amount
$1,000 to $50,000
Repayment terms
2 to 7 years
Fees
Origination fee
Discounts
Autopay and direct pay
Eligibility
Available in all states
Min. income
$25,000
Customer service
Soft credit check
Yes
Time to get funds
1 business day
Loan uses
Credit card refinancing, debt consolidation, home improvement, major purchase, other
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.
7.99% - 35.99%
$2,000 to $25,000
660
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)
Customer service
Phone, email
Soft credit check
Yes
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
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.
8.99% - 35.49% 1
$5,000 - $100,000
Does not disclose
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
Loan amount
$5,000 to $100,000
Repayment terms
2 - 7 years
Fees
Option to pay an origination fee in exchange for a lower rate
Discounts
Autopay, direct pay
Eligibility
Available in all states
Min. income
Does not disclose
Customer service
Phone, email, live chat
Soft credit check
Yes
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
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.
8.99% - 35.99%
$2,000 to $50,000
640
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
Loan amount
$2,000 to $50,000
Fees
Origination fee
Discounts
None
Eligibility
Available in all states except IA and WV
Min. income
Greater than $0
Customer service
Phone, email
Soft credit check
Yes
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
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.
-
$4,000 to $45,000
680
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
Loan amount
up to $45,000
Fees
Late fee, origination fee up to 9%
Discounts
Autopay
Eligibility
Not available in IA, NV, WV, PR, MD
Min. income
$50,000 annually
Customer service
Phone, email
Soft credit check
Yes
Time to get funds
As soon as same business day
Loan purposes
Debt Consolidation, Credit Card Refinancing, Home Improvements
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.
9.95% - 35.99%
$1,000 to $35,000
550
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
Loan amount
$1,000 to $35,000**
Fees
Origination fee, late fee, dishonored payment fee
Discounts
None
Eligibility
Available in all states except HI, IA, MA, ME, NY, VT, WV, WA, AP, AE, and AA
Min. income
$1,200 monthly
Customer service
Phone, email
Soft credit check
Yes
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
Repayment terms
2 to 5 years
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.
-
$20,000 to $250,000
660
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, NV, ND, and VT
- No discounts
- Minimum annual income requirement of $100,000
- Funding takes at least five days
Loan amount
$20,000 - $250,000
Repayment terms
3 - 10 years
Fees
Origination fees, late fees, other fees may apply
Discounts
None
Eligibility
Available in all states except CT, ID, IL, LA, MD, ME, MT, NV, ND, and VT
Min. income
$100,000
Customer service
Email, phone
Soft credit check
Not on lender's site
Time to get funds
In as few as 5 days
Loan uses
Debt consolidation, credit card refinancing
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.
-
$2,500 to $25,000
560
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)
Repayment terms
3 to 5 years
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
Discounts
None
Eligibility
Unavailable in CO, CT, HI, IA, ME, MD, MA, NV, NJ, NY, SD, VT, WA, and WV
Min. income
$30,000
Customer service
Phone
Soft credit check
Does not disclose
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
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.
11.69% - 35.99%
$1,000 to $50,000
580
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
Loan amount
$1,000 - $50,000
Repayment terms
3, 5, or 7 years
Fees
Origination fee
Discounts
Autopay and direct pay
Eligibility
Available in all states
Min. income
$25,000 annually
Customer service
Phone, email
Soft credit check
Yes
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
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.
18.00% - 35.99%
$1,500 to $20,000
N/A
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
Loan amount
$1,500 to $20,000
Fees
Origination fee, unsuccessful payment fee, late fee
Discounts
None
Eligibility
Must have photo I.D. issued by U.S. federal, state or local government
Min. income
Does not disclose
Customer service
Phone, email
Soft credit check
Yes
Time to get funds
As soon as 1 to 2 days after acceptance
Loan use
All except business, and education
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.
Fixed (APR)
6.49% - 25.29%2
Loan Amounts
$5,000 to $100,0002
Min. Credit Score
7002
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
Loan amount
$5,000 to $100,000
Repayment terms
2 - 20 years, depending on loan purpose
Fees
None
Discounts
Autopay
Eligibility
Available in all states except VT
Min. income
Does not disclose
Customer service
Soft credit check
No
Time to get funds
As soon as the same business day
Loan uses
Credit card refinancing, debt consolidation, home improvement, and other purposes
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.
Fixed (APR)
6.60% - 35.99%
Loan Amounts
$1,000 to $50,000
Min. Credit Score
620
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
Loan amount
$1,000 to $50,000
Fees
Origination fee
Discounts
None
Eligibility
Available nationwide
Min. income
$12,000
Customer service
Phone, email
Soft credit check
Yes
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
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.
Fixed (APR)
6.99% - 35.99%
Loan Amounts
$2,000 to $50,000
Min. Credit Score
600
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
Loan amount
$2,000 to $50,000
Fees
Origination fee, late fee, unsuccessful payment fee, check processing fee
Discounts
None
Eligibility
Available in all states except DC, IA, VT, and WV
Min. income
$3,500
Customer service
Phone, email
Soft credit check
Yes
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
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.
Fixed (APR)
7.90% - 35.99%
Loan Amounts
$1,000 to $60,000
Min. Credit Score
660
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
Loan amount
$1,000 to $60,000
Fees
Origination fee
Discounts
None
Eligibility
Available in all 50 states
Min. income
None
Customer service
Phone, email
Soft credit check
Yes
Time to get funds
As soon as next-day funding once approved
Loan uses
Debt consolidation, paying off credit cards
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.
Fixed (APR)
7.95% - 29.99%
Loan Amounts
$5,000 to $40,000
Min. Credit Score
640
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
Loan amount
$5,000 to $40,000
Fees
Origination fee
Discounts
None
Eligibility
Available in all states except IA, MA and NV
Min. income
$30,000
Customer service
Phone, email, chat
Soft credit check
Yes
Time to get funds
As soon as 2 - 5 business days after verification
Loan uses
Debt consolidation and credit card consolidation only
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.
Fixed (APR)
-
Loan Amounts
$5,000 to $50,000
Min. Credit Score
680
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)
Fees
Origination fee
Discounts
None
Eligibility
Available in all states. OH and NM net disbursed amount must be greater than $5,000. MA must be greater than $6,000
Min. income
$25,000
Customer service
Live chat
Soft credit check
Yes
Time to get funds
Typically 1-3 days
Loan uses
Debt consolidation, credit card refinancing, home improvement, major purchases, paying bills or rent
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.
Fixed (APR)
-
Loan Amounts
$2,000 to $30,000
Min. Credit Score
740
Overview
Citi offers no-fee personal loans to borrowers with very good credit (a FICO credit score of 740 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 minimum credit score required
- 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
Loan amount
$2,000-$30,000
Fees
None
Discounts
0.5% APR autopay discount
Eligibility
N/A
Min. income
$30,000
Customer service
Email and mobile app
Soft credit check
Yes
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.
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.
Fixed (APR)
-
Loan Amounts
$5,000 to $50,000
Min. Credit Score
652
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
Loan amounts
$5,000 - $50,000
Fees
None
Discounts
Autopay
Eligibility
All states except HI, NV, WI
Min. income
N/A
Customer service
Mobile app; 24/7 telephone support
Soft credit check
Yes
Time to get funds
As early as the next business day
Loan uses
For personal, family, or household uses
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.
Fixed (APR)
7.99% - 35.99%
Loan Amounts
$1,000 to $40,000
Min. Credit Score
660
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.
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
- 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, or WY
Loan amount
$1,000 to $40,000
Fees
Origination Fee, $15 Late Fee, $25 NSF Fee
Discounts
None
Eligibility
Available in all states except CO, CT, ME, NV, NH, TN, VT, WV, and all U.S. Territories
Min. income
$20,000 annually
Customer service
Phone, email
Soft credit check
Yes
Time to get funds
Funds typically deposited into your account in 1 business day13
Loan uses
Debt consolidation and credit card refinancing only
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.
Fixed (APR)
7.99% - 35.99%
Loan Amounts
$1,000 to $50,000
Min. Credit Score
580
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 amount
$1,000 to $50,000
Repayment terms
2 to 7 years
Fees
Origination fee
Discounts
Autopay and direct pay
Eligibility
Available in all states
Min. income
$25,000
Customer service
Soft credit check
Yes
Time to get funds
1 business day
Loan uses
Credit card refinancing, debt consolidation, home improvement, major purchase, other
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.
Fixed (APR)
7.99% - 35.99%
Loan Amounts
$2,000 to $25,000
Min. Credit Score
660
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)
Customer service
Phone, email
Soft credit check
Yes
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
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.
Fixed (APR)
8.99% - 35.49%1
Loan Amounts
$5,000 - $100,0001
Min. Credit Score
Does not disclose1
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
Loan amount
$5,000 to $100,000
Repayment terms
2 - 7 years
Fees
Option to pay an origination fee in exchange for a lower rate
Discounts
Autopay, direct pay
Eligibility
Available in all states
Min. income
Does not disclose
Customer service
Phone, email, live chat
Soft credit check
Yes
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
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.
Fixed (APR)
8.99% - 35.99%
Loan Amounts
$2,000 to $50,000
Min. Credit Score
640
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
Loan amount
$2,000 to $50,000
Fees
Origination fee
Discounts
None
Eligibility
Available in all states except IA and WV
Min. income
Greater than $0
Customer service
Phone, email
Soft credit check
Yes
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
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.
Fixed (APR)
-
Loan Amounts
$4,000 to $45,000
Min. Credit Score
680
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
Loan amount
up to $45,000
Fees
Late fee, origination fee up to 9%
Discounts
Autopay
Eligibility
Not available in IA, NV, WV, PR, MD
Min. income
$50,000 annually
Customer service
Phone, email
Soft credit check
Yes
Time to get funds
As soon as same business day
Loan purposes
Debt Consolidation, Credit Card Refinancing, Home Improvements
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.
Fixed (APR)
9.95% - 35.99%
Loan Amounts
$1,000 to $35,000
Min. Credit Score
550
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
Loan amount
$1,000 to $35,000**
Fees
Origination fee, late fee, dishonored payment fee
Discounts
None
Eligibility
Available in all states except HI, IA, MA, ME, NY, VT, WV, WA, AP, AE, and AA
Min. income
$1,200 monthly
Customer service
Phone, email
Soft credit check
Yes
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
Repayment terms
2 to 5 years
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.
Fixed (APR)
-
Loan Amounts
$20,000 to $250,000
Min. Credit Score
660
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, NV, ND, and VT
- No discounts
- Minimum annual income requirement of $100,000
- Funding takes at least five days
Loan amount
$20,000 - $250,000
Repayment terms
3 - 10 years
Fees
Origination fees, late fees, other fees may apply
Discounts
None
Eligibility
Available in all states except CT, ID, IL, LA, MD, ME, MT, NV, ND, and VT
Min. income
$100,000
Customer service
Email, phone
Soft credit check
Not on lender's site
Time to get funds
In as few as 5 days
Loan uses
Debt consolidation, credit card refinancing
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.
Fixed (APR)
-
Loan Amounts
$2,500 to $25,000
Min. Credit Score
560
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)
Repayment terms
3 to 5 years
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
Discounts
None
Eligibility
Unavailable in CO, CT, HI, IA, ME, MD, MA, NV, NJ, NY, SD, VT, WA, and WV
Min. income
$30,000
Customer service
Phone
Soft credit check
Does not disclose
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
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.
Fixed (APR)
11.69% - 35.99%
Loan Amounts
$1,000 to $50,000
Min. Credit Score
580
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
Loan amount
$1,000 - $50,000
Repayment terms
3, 5, or 7 years
Fees
Origination fee
Discounts
Autopay and direct pay
Eligibility
Available in all states
Min. income
$25,000 annually
Customer service
Phone, email
Soft credit check
Yes
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
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.
Fixed (APR)
18.00% - 35.99%
Loan Amounts
$1,500 to $20,000
Min. Credit Score
N/A
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
Loan amount
$1,500 to $20,000
Fees
Origination fee, unsuccessful payment fee, late fee
Discounts
None
Eligibility
Must have photo I.D. issued by U.S. federal, state or local government
Min. income
Does not disclose
Customer service
Phone, email
Soft credit check
Yes
Time to get funds
As soon as 1 to 2 days after acceptance
Loan use
All except business, and education
FAQ
Do payday loans build credit?
Open
Typically, payday loans don’t build credit. The payments on these loans aren’t reported to the three major credit bureaus. In most cases, the only time payday loan lenders report to the bureaus is if your account gets sent to collections, which harms your score.
What happens if you default on a payday loan?
Open
Defaulting on payday loans has serious consequences. Payday lenders usually keep trying to withdraw payment from your bank account if you default. This could create multiple overdraft or non-sufficient funds fees from your bank. The missed payments also come with hefty fees that add to your balance. If lenders still can’t collect payment, they’ll send your account to collections, which can tank your credit score.
Can you get a payday loan with bad credit?
Open
Most likely, yes. Payday advance loans typically offer loans without a credit check by using other factors to approve you. Bad-credit borrowers might see them as a solid option, but sky-high APRs and fees make these loans harder to repay.
Should I get a payday advance online or a personal loan?
Open
A personal loan is less expensive compared to a payday loan. If you need a larger amount to pay for emergencies, a personal loan is arguably better. Some personal loan lenders even use factors outside your credit score to qualify you, so even if you have bad credit, a personal loan is likely still an option.
How long does it take to get a personal loan?
Open
It could take anywhere from a few hours to a few days (or longer) to get a personal loan. Some lenders offer same-day loans if you get your application in and approved by the lender’s cutoff time. But most can send funds within one to two business days once your application is approved. To expedite funding, fill out the application fully and accurately and provide any documentation immediately if the lender requests it. Also, choose a lender like SoFi, Zable, or LightStream that offers same-day loans.
Can I get a loan with bad credit?
Open
You may be able to get a loan with bad credit, but it’s crucial to compare your options as not all bad credit loans are created equal — and some are a downright bad idea. If you need a few hundred dollars until your next paycheck, a cash advance app may be a safer option than a payday loan, especially if you don’t pay extra to expedite funds and skip tipping.
BNPL apps can be a no-fee, no-interest option if you need to make a retail purchase and can pay the loan back over 6 weeks. For longer terms on $1,000 loans or more, try a personal loan for bad credit. Most lenders check your credit, but some like OneMain Financial and Upstart have low or no credit score minimums.
How long do you have to pay off a personal loan?
Open
Personal loan repayment terms generally range from two to seven years, but may be longer for certain types of loans, like home improvement loans. A longer term typically means lower monthly payments, but higher overall interest costs. With a shorter term, you could save on interest and may get a lower interest rate, but your monthly payment will likely be higher. You can usually pay off a loan as soon as you’d like — most lenders don’t charge prepayment penalties.
Disclosure: Some lending partners that participate in Credible’s comparison marketplace offer loans to borrowers with scores as low as 550. Borrowers with low scores will have fewer lending options than borrowers with higher credit scores.
Seychelle Thomas has over seven years of experience in personal finance and is an expert on debt consolidation, banking, credit cards, and lending. Her work has been published by MSN, GOBankingRates, and Bankrate.
