Personal loans for bad credit
Finding a personal loan with bad credit can be harder, and options may be limited or more expensive. No one can promise approval. Here's how checking works, what to watch out for, and other options to consider.
What to expect with bad credit
- FICO describes scores below 580 as poor. Score ranges vary by scoring model, and each lender defines its own criteria.
- With poor credit, fewer lenders may have options, and offers that are available often come with higher costs. Read the APR, fees and total repayment carefully before you accept anything.
- Be wary of anyone who promises approval, asks for a fee before you receive the loan, or pressures you to decide quickly. Legitimate lenders disclose the APR and terms before you sign.
- Other options can include a secured loan, a credit union loan, a co-signer, or a payment plan with the company you owe. Working on your credit first can also widen your options later.
Estimate your monthly payment
Enter a loan amount, a term and an APR to see an illustrative fixed monthly payment and total interest.
Estimates only, based on the numbers you enter. Not an offer of credit. Lendara is not a lender.
How checking your options works
When you check your options for a personal loan with bad credit through Lendara, you answer a few questions about the loan you want, your income and your finances. Checking uses a soft credit inquiry, which doesn't affect your credit score.
If participating lenders have options for you, you can compare them side by side: APR, fees, monthly payment, term and total cost. Nothing is accepted until you choose an offer.
If you decide to apply with a lender, that lender may run a hard credit inquiry, which can affect your credit score. The lender, not Lendara, decides whether to approve you and on what terms.
Frequently asked questions
Can I get a personal loan with bad credit?
It depends on the lender. Some lenders consider applicants with poor credit, but many don't, and approval isn't something Lendara or any comparison site can promise. Checking your options with Lendara shows what may be available without affecting your credit score.
Does checking my options hurt my credit?
Checking your options through Lendara won't affect your credit score. If you choose to apply with a lender, that lender may run a hard credit inquiry.
Is Lendara a lender?
No. Lendara is a free marketplace that connects you with participating lenders. We don't make credit decisions or lend money.
Related guides
- How Your Credit Score Can Affect the Offers You See
Why the offers you see through a marketplace may vary with your credit score, and how prequalification tools try to show relevant options.
- Prequalification: Soft vs. Hard Credit Pulls
What a soft credit pull is, how it differs from a hard inquiry, and why checking offers through a marketplace like Lendara may not affect your credit score.
- Personal Loans for Fair Credit: What to Know
What "fair credit" commonly means, what partners may look at beyond your score, and why personal loan rates and terms can vary so much.
Lendara is not a lender and does not make credit decisions. Lendara is a free online marketplace that connects you with participating lenders, who set their own eligibility rules, rates, fees and terms. Lendara may receive compensation from partners, which may affect which offers appear and their order.