Personal loans for fair credit
Some lenders work with borrowers who have fair credit, though options are usually narrower and costs higher than with stronger credit. Here's what to expect and how to compare carefully.
What to expect with fair credit
- FICO describes scores of 580 to 669 as fair. Score ranges vary by scoring model, and each lender defines its own criteria.
- Fewer lenders may have options for fair credit, and the ones that do may charge higher APRs or origination fees. Compare the total cost, not just the monthly payment.
- Some lenders allow a co-applicant or co-signer, or offer secured loans backed by savings or a vehicle. These can change what you're offered, and add responsibility or risk for the other person or the collateral.
- Credit unions and community banks are worth checking too. Some consider your whole relationship with them, not just your score.
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 fair 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
Should I borrow the full amount I'm offered with fair credit?
Only borrow what you need and can repay comfortably. A smaller loan keeps total interest and fees down, and on-time payments can help your credit over time.
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
- 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.
- 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.
- Loan Origination Fees, Explained
What loan origination fees are, how they factor into APR, and a simple illustrative example that can help you compare the true loan cost.
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.