Our experts answer readers' personal loan questions and write unbiased product reviews (here's how we assess personal loans). In some cases, we receive a commission from our partners; however, our opinions are our own.
You might consider getting a personal loan if you need quick funding for expenses like moving costs or vacations. A personal loan is a fixed-rate loan, paid off in monthly installments with a variety of options for term lengths. The interest rate you pay will be determined largely by your credit score. Not all lenders treat borrowers with bad credit alike.
Best Personal Loans for Bad Credit
Even if you have bad credit, you still have options to take out a personal loan. We've gathered a list of lenders that are more lenient on loan credit score requirements.
But be careful. Even though you may qualify for loans for bad credit with these lenders, with a poor credit history you will likely receive a high interest rate. You may be able to get a lower rate with other options, such as a credit card.
Compare the Best Personal Loans for Bad Credit
| Best Personal Loan for Bad Credit | Best For |
| Upgrade Personal Loan | Small loan amounts |
| Avant Personal Loan | Easy qualification |
| LendingPoint Personal Loan | Low credit scores |
| LendingClub Personal Loan | Applying with a co-borrower |
| Upstart Personal Loan | Limited credit histories |
| OneMain Financial Personal Loan | Secured loans |
Next Step: See if you're prequalified for a loan without lowering your credit score.
Bad Credit Loans Frequently Asked Questions
What are bad credit loans?
Bad credit loans are aimed at borrowers with a low credit score or limited credit history (making some of them more attainable loan options for immigrants still establishing credit). Each lender has its own standards to determine whether to offer a loan to those with bad credit. Some are more strict than others, so you should shop around before deciding which one to use.
What are alternatives to bad credit loans?
While a bad credit loan can be a solid option to get money fast, there might be cheaper avenues available to you, including: borrowing from friends or family; getting a paycheck advance; seeking aid from a local nonprofit or charity.
Are bad credit loans legitimate?
Yes, personal loans for bad credit with a reputable lender are absolutely safe to borrow. Look over reviews of the company, dig for more information, and disregard offers that feel too good to be true. Search for personal loans that are backed by a Member FDIC bank or NCUA-accredited credit union. Also, familiarize yourself with common personal loan scams so you know how to avoid them.
Can I get a bad credit loan online?
You can get a loan online even if you have bad credit. Lenders including Avant, LendingPoint, and Upgrade, are among those that offer bad credit loans online.
Can I get a loan with no credit check?
It is possible to a get a loan with no credit. Some lenders accept alternative data to assess a borrower's risk, like bank account activity and payment history toward rent, utilities, and other bills. However, you'll want to check the fine print with these loans. They could be more likely to charge high interest rates and fees or have unattractive terms.
Are there personal loans for bad credit with guaranteed approval?
There is no such thing as a personal loan with guaranteed approval, and it's important to be cautious of such claims. No legitimate lender can guarantee you'll be approved for a personal loan, especially if you have bad credit.
Which loan is easiest to get with bad credit?
To get a loan with bad credit, your best bet is one that is either secured with some sort of collateral, or one in which you have a more creditworthy borrower co-sign with you. That way, the lender will have less risk of not getting its money back.
See our full personal loans ratings methodology >>
Bad Credit Loan Company Reviews
Upgrade Personal Loan
Upgrade offers a low minimum APR. But you'll likely pay a higher rate if your credit isn't in good shape. With a poor credit history, you may end up paying an APR closer to 35.99%. Upgrade's smallest loan amount of $1,000 is lower than many other comparable lenders.
You'll pay an origination fee between
Avant Personal Loan
Avant has excellent customer service hours, with its phone line open at least 13 hours every day of the week. The lender also has a strong mobile app.
Upstart Personal Loan
Upstart's loan repayment term options are fairly limited — you can choose between a three-year or five-year term. On the bright side, the company usually funds loans within one business day, which is useful if you need your money fast. There are no prepayment penalties with this lender.
OneMain Financial Personal Loan
OneMain's standout feature is that it offers secured personal loans (loans backed by collateral such as a house or a car) as well as unsecured personal loans. This is uncommon among personal loan lenders.
OneMain Financial Personal Loans Review
LendingClub Personal Loan
LendingClub allows you to add a co-borrower to your loan application. So if you're worried about not qualifying for a loan or paying a higher interest rate than you can afford, you may consider this option.
However, it will take you two to four business days to get your money, which is longer than most of the other lenders on our list. You'll also pay an
LendingClub Personal Loans Review
LendingPoint Personal Loan
LendingPoint has the lowest minimum credit score requirement of any of our top picks, making it a good option if you can't qualify for other lenders with your credit score. LendingPoint has a quick application process. and you may be approved the same day you apply. You can often get your funds the next business day after approval.
Unfortunately, you're not able to take out a loan if you live in Nevada or West Virginia. You also might pay an
LendingPoint Personal Loans Review
Other Personal Loans We Considered for Bad Credit
See Insider's picks for the best personal loans for any credit score >>
How to Choose the Right Bad Credit Loan for You
To get the best bad credit personal loan, consider what is most important to you. Many borrowers prioritize the lowest personal loan interest rate, but also consider any fees, the minimum credit score needed, and the accessibility of the lender's customer service. You'll also want to make sure you're able to select a term length that works for you and that your loan's purpose is allowed by the lender you choose.
See our picks for the best personal loan rates »
For bad credit loans specifically, you'll want to understand if you qualify for a loan or if you may need to add a cosigner to boost your chances of being eligible.
Guides like this one will help you weigh multiple lenders to compare their pros and cons. Make sure to also read individual reviews of any lenders you're considering.
Bad Credit Loan Company Trustworthiness
Whether you're looking for a $5,000 loan or a $10,000 loan, finding a trustworthy lender can help improve your loan experience. To help you make a decision, we've compared each institution's Better Business Bureau score. The BBB measures businesses based on factors like their responsiveness to consumer complaints, truthfulness in advertising, and clarity about business practices. Here is each company's score:
| Lender | BBB Grade |
| Upgrade Personal Loan | A+ |
| Avant Personal Loan | A |
| Upstart Personal Loan | A+ |
| OneMain Financial Personal Loan | A+ |
| LendingClub Personal Loan | A |
| LendingPoint Personal Loan | A |
All of our top picks are rated A or higher by the BBB. Keep in mind that a high BBB score does not guarantee a positive relationship with a lender, and that you should continue to do research and talk to others who have used the company to get the most comprehensive information possible.
Why You Should Trust Us: Our Methodology
We rate all personal loan products in our reviews and guides on a 1-5 scale. The overall rating is a weighted average that takes into account seven different categories, some of which are judged more heavily than others. They are:
- Interest rate (20% of rating)
- Fees (20% of rating)
- Term lengths and loan amounts (15% of rating)
- Funding speed (15% of rating)
- Borrower accessibility (15% of rating)
- Customer support (7.5% of rating)
- Ethics (7.5% of rating)
Each category's weighting is based on its importance to your borrowing experience. Rates and fees have the most direct impact on the overall cost of your loan, so we weigh those the most heavily. Customer support and ethics are still very important parts of the borrowing experience, but do not directly tie to a personal loan's terms, so they have less of an impact on the overall rating.