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Compare Bad Credit Loans

January 2022
Results for - January 2022

We will point you in the right direction when it comes to finding a loan with a low credit score. The following providers offer loans for people with a range of scores, including low credit scores. Compare and choose from the lenders and marketplaces below, and start receiving loan offers.

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Finding a Loan with a Bad Credit Score

Having good credit is something most people don’t think about until the time comes when they need a loan. Whether it’s a mortgage on a new home, a student loan, or a loan to pay off medical expenses, loans are a fact of life for almost everyone and having good credit can help you obtain one.

If your credit isn’t in the best shape or if you’re working on building your credit from nothing, don’t despair! There are financial solutions for just about anyone.

Having “bad credit” means having a credit score that falls below 500 and can make acquiring a loan a challenge since lenders view you as a riskier borrower. The good news is, there are still plenty of loans for people with bad credit, it just takes a bit more time and effort.

Bad Credit Loans | Our Recommendations

What Loans Can You Qualify For?

Even with bad credit, you can still qualify for all kinds of loans — personal loans or otherwise. Just be prepared to spend more time researching so you aren’t stuck with the bottom of the barrel when it comes to loan terms and rates.

Loans to Avoid

One example of a bad credit loan to avoid is a payday loan. This is a short-term, small amount loan that provides quick cash but incredibly high-interest rates — sometimes as high as 400%. This option can be tempting because virtually anyone can get approved, including those with the lowest of credit scores.

It’s highly advisable to pass on these types of predatory loans, as there are plenty of loans available from reputable lenders with more reasonable interest rates. Sure, your APR may be much higher than if you had good credit, but they won’t be as high as payday loans or similar cash advance loans that target those with poor credit.

How to Get a Loan with Bad Credit

So how do you get a personal loan with bad credit or get a loan with no credit at all? The key is to put in the time to research your options. Gone are the days when consumers were limited to traditional brick-and-mortar banks and credit unions.

In today’s digital age, there’s a wealth of online lenders to choose from when it comes to finding and comparing loans. Just prepare yourself—having poor credit means you won’t qualify for all of them, and those you do qualify for will come with a higher APR.

If you’re having trouble getting approved or finding a comfortable interest rate, here are a few ways you can get approved for loans with bad credit:

Get a Co-signer

If you have a friend, spouse, or close family member with good credit, having them cosign on your loan can make a difference in whether or not you get approved. Additionally, having a trustworthy cosigner can also snag you a better interest rate on your loan.

Marketplace Lenders

Try using an online personal loan marketplace. These platforms are free to use and they work with reputable lenders. You can see if you qualify for a loan in a matter of minutes after providing a few details about yourself and your financial profile. From there, they’ll run a soft credit check which won’t harm your credit score, and you can then compare rates from lenders you qualify for.

Bad Credit Loans: Recommendations

If you’re unsure where to start in your search for loans with no credit or loans with bad credit, there are many reputable lenders and marketplaces that cater specifically to those with poor credit or no credit at all. These lenders will view not only your credit score but your entire financial profile for the approval process. Determining creditworthiness includes your debt-to-income ratio, your income, job stability, and other factors.


LoansUnder36 is a free online loan marketplace that connects borrowers to lenders who offer loans under 36% ARP as fast as the next business day. They cater to those with all credit scores and loans range from $500 to $35,000.

Bad Credit Loans

As its name suggests, Bad Credit Loans is an online lender offering loans up to $5,000 to those with bad credit. It’s safe and secure, has a fast online process, approves loans as soon as the next business day, and best of all, all credit types are welcome.


Monevo is another online marketplace lender that allows borrowers to quickly compare personal loan offers from lenders they qualify for with just one application and a soft credit pull. Similar to our other recommendations, Monevo is a great place to start when shopping for a personal loan with bad credit because they consider an applicant’s entire financial profile rather than just their credit score.


Upgrade is an online lender offering loans up to $50,000. There’s no credit score minimum to apply and submitting a quick pre-approval form won’t impact your credit score. You can get a decision in seconds and have money sent to your bank account within a day.

Comparing Lenders: APR, Credit Score, and Flexibility

When comparing lenders for bad credit score loans, the first thing you want to check for is if there is a credit score minimum. You can save yourself time by only applying for loans that do not require any minimum. You also, ideally, want to select a lender that offers flexible terms, which includes factors such as repayment fees, the length of the loan, and so on.

Additionally, it’s important to pay attention to the APR as opposed to the interest rate. APR will include any hidden fees that may be involved when securing a loan from a lender so you can have a better idea of what you’ll be paying.

This is where marketplace lenders come in handy. You only have to submit one form to view offers from multiple lenders, making it easy to compare rates and terms.

Improve Your Credit Score

If you aren’t satisfied with the bad credit loan terms you’re receiving from lenders you qualify for, it’s time to start working on improving your credit score. Even if you need a loan fast and ultimately decide to opt for a high-interest loan today, getting started on boosting your credit score now can help you earn better loan rates or even refinance your loan in the future.

Here are a few ways you can improve your credit score:

  • Always pay your bill on time, every time. When viewing your credit report, lenders care about payment history, which will give them a better idea as to your ability to repay a loan on time.
  • Keep your debts low. Lenders also pay attention to your debt-to-income ratio, so it’s best to pay down your debts rather than racking up new ones.
  • Don’t max out your credit cards. The more available credit you have on your credit cards, the better. In fact, it’s a good idea to request a higher credit limit on your credit card even if you don’t need it—just do so sparingly, as this will require a hard credit check.
  • Keep unused credit cards open. While it may be tempting, don’t close out unused or paid off credit cards. Doing so can hurt your credit. Keeping a credit card open will increase your credit history, which is a good thing and can give your score a nice boost.
  • Review your credit report. Check your credit report for any errors or inaccuracies that can affect a lender’s decision when approving you for a loan.
  • Add yourself as an authorized user. If you have a friend or family member with good credit, you can improve your credit simply by having them add you as an authorized user to their credit card or loan. Just keep in mind that while this can help your score if they make payments on time, it can also hurt it if they don’t.


Searching for the best personal loan with satisfactory rates and loan terms will always require work, whether you have excellent credit or bad credit. If you have a little time on your side, start researching the various lenders out there—whether it’s a traditional bank, credit union, or online lender. While many lending institutions place a heavy emphasis on one’s credit score, there are just as many who look at other factors when making a decision.

If you need a loan fast but aren’t happy with the rates you’re seeing, try adding a cosigner to give you a boost, or even applying for a secured loan if you have a valuable asset to back it up. And remember, it’s never too late to start improving your credit score. You can build it up faster than you think, and doing so will open the doors to much better loan rates in the future.