Best Bad Credit Loans for 2024

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Our recommendations for the best bad-credit personal loans have flexible eligibility requirements and relatively low rates for the credit band.

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#1
  • MMG Rating:
    4.9
  • Min Score: 300
#2
  • MMG Rating:
    4.7
  • Min Score: 580
#3
#1
MMG Rating:
4.9
Min Score: 300
#2
MMG Rating:
4.7
Min Score: 580
#3
MMG Rating:
4.0
Min Score: 300

Personal loans are the best alternative for all those who are looking for a cash loan with the minimum requirements.

They are invented to be approved easily and quickly, which prevents you from waiting for a long time.

In the United States, you can get personal loans relatively easily. Although banks are still the best-known option, there are various ways of borrowing money that are safer and more approachable to people who don't have the requirements that banks ask for.

Most of these loans have flexible services and payment plans that are tailored to each person. When a person does not have a credit history, a personal loan is a good opportunity to start it.

In this article, you will learn about the best personal loans for those with bad credit.

personal loans for bad credit

Best Bad Credit Loans

Below, you can see the list of best personal loans for those with bad credit.

#1
  • MMG Rating:
    4.9
  • Min Score: 300
#2
  • MMG Rating:
    4.7
  • Min Score: 580
#3
#1
MMG Rating:
4.9
Min Score: 300
#2
MMG Rating:
4.7
Min Score: 580
#3
MMG Rating:
4.0
Min Score: 300

1. Best personal loan for small loans: Upstart

Upstart is a popular online lender that specializes in providing personal loans to individuals who may not have the best credit history. It’s a great option for those looking for small personal loans, as the minimum loan amount offered is $1,000.

Upstart uses a unique underwriting model that takes into account more than just your credit score, including your education and employment history, to determine your eligibility for a loan. This makes it a good option for individuals who are just starting out or who may have had some financial setbacks in the past.

One of the main benefits of taking out a loan with Upstart is its fast and easy application process. You can apply for a loan online in just a few minutes and receive a decision within minutes. Once approved, funds can be deposited into your account as soon as the next business day.

Upstart also offers competitive interest rates and flexible repayment terms, making it a great option for individuals who are looking to take control of their finances and manage their debt. Overall, if you’re in need of a small personal loan and have a less-than-perfect credit history, Upstart is definitely worth considering.

Upstart
4.9

Take control of your finances with a personal loan from Upstart. You can choose to use the loan for debt consolidation, credit card refinancing, a wedding, moving, or medical expenses. With loan amounts ranging from $1,000 to $50,000 and terms of 36 or 60 months, there's a loan option for everyone. To get approved, simply have a FICO or Vantage score of 600 or more.

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2. Best personal loan for fair to bad credit: Upgrade

Upgrade is a leading online lender that offers personal loans to individuals with fair to bad credit. If you have a credit score between 580 and 700, Upgrade may be a good option for you.

The lender uses a more comprehensive underwriting process that takes into account a range of factors beyond just your credit score, including your income and expenses, to determine your eligibility for a loan. This makes it easier for individuals with less-than-perfect credit to secure a loan.

Upgrade offers loans ranging from $1,000 to $50,000, making it a good option for a variety of financial needs, including debt consolidation, home improvement projects, and medical expenses. The lender also offers competitive interest rates and flexible repayment terms, allowing you to choose the loan that best fits your budget and timeline.

Additionally, Upgrade has a fast and easy online application process that can provide you with a loan decision in minutes.

Upgrade
4.7

Upgrade offers personal loans for various purposes, including refinancing credit cards, debt consolidation, home improvement and large purchases. Loans range from $1,000 to $50,000 and are funded as soon as the next business day.

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3. Best no credit check loan: ZippyLoan

Just remember that if you actually need money now, then you can opt for a personal loan. When you need money in a hurry ZippyLoan is where to go. You apply for a loan through the ZippyLoan site, if approved they send your loan application to one of many loan providers.

You review the loan details and e-sign if you like what you see. No risk in checking what offers you’ll get. You can borrow between $100 and $15,000 as soon as tomorrow. Loans service up to 60 months. ZippyLoan connects borrowers to lenders through its network of lenders. They’ll find you the lowest interest rate and is one of the best no credit check loans. You can visit ZippyLoan here.

Fast Funding
ZippyLoan
4.0
  • Borrow between $100 and $15,000
  • No risk in checking what offers you’ll get
  • Quick approval and fund disbursement (if approved)
  • No minimum credit score requirement
GET RATE → Our Zippyloan Review

Other Lenders to Consider

LENDERBEST FOR:MIN. CREDIT SCOREEST. APRMIN. LOAN AMOUNTMAX. LOAN AMOUNT
1. Bad Credit LoansPoor credit scoresNot specifiedCheck lenderNot specified$10,000
2. UpstartLimited credit history600Check lender$1,000$50,000
3. OneMain FinancialSecured loansNot specifiedCheck lender$1,500$20,000
4. TD BankLow rate capsNot specifiedCheck lender$2,000$50,000
5. AvantRange of repayment options580*Check lender$2,000$35,000
6.LendingPointSmall loans585Check lender$2,000$25,000
7. UpgradeFast funding620Check lender$1,000$35,000
8. LendingClubOnline experience600Check lender$1,000$40,000

Want more options? Here is another lender that you can consider if you have credit under 600.

CashAdvance.com

CashAdvance.com offers quick loans such as fast cash loans and payday loans. The site works online only and it provides ethical & honest dealing with applicants.

Their mission has never been to induce applicants to obtain a loan they do not want, but to help them find the best short-term loan options in times of financial need.

To apply for an advance loan or payday loan with CashAdvance, fill out a simple online form and your inquiry will be sent to a wide network of lenders. 100% security is guaranteed.

Each lender in your network has made the approval process fast and easy, usually without complicated documentation, and a loan contract that you can review and sign online. Once you find a provider ready to work with you, you will receive approval in a matter of minutes.

If you get approval, but you do not like the terms provided or the amount offered, you can cancel the application. You are not obligated to accept the loan, nor will there be any type of payment.

If you accept these terms, the associated lender will deposit the amount of money electronically in your bank account as soon as the next day.

The amount they grant ranges from $100 to $1,000. The deadline to pay is 2 to 4 weeks. (the exact amounts and terms to pay to vary according to the programs and your state of residence).

Click here for a full review on CashAdvance.com.

CashAdvance®
4.0
  • Short-term loans up to $10,000
  • Online marketplace of lenders
  • Funds available in as few as 24 hours
  • Simple online form takes less than 5 minutes
  • Trusted marketplace since 1997
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The lenders associated with CashAdvance grant quick loans online in the following states: Alaska, Alabama, Colorado California, Delaware, Florida, Illinois, Idaho, Hawaii, Iowa, Indiana, Kansas, Kentucky, Louisiana, Michigan, Minnesota, Missouri, Mississippi, Montana , Nevada, Nebraska, New Mexico, New Hampshire, North Dakota, Ohio, Oregon, Oklahoma, South Carolina, Rhode Island, Texas, Tennessee, Utah, Virginia, Washington, Wyoming and Wisconsin.

How Do You Get a Personal Loan with Bad Credit?

If you have bad credit, getting a personal loan can be difficult, but not impossible. One option is to look for lenders that specialize in bad credit loans like the ones in the box below:

#1
  • MMG Rating:
    4.9
  • Min Score: 300
#2
  • MMG Rating:
    4.7
  • Min Score: 580
#3
#1
MMG Rating:
4.9
Min Score: 300
#2
MMG Rating:
4.7
Min Score: 580
#3
MMG Rating:
4.0
Min Score: 300

These lenders may be more willing to work with you despite your credit history.

Another option is to consider a co-signer with good credit. This person can act as a guarantor for the loan, which can improve your chances of being approved. However, it's important to remember that if you default on the loan, the co-signer will be responsible for repaying it.

Offering collateral to secure the loan is another way to increase your chances of approval. Collateral can be any valuable asset that you own, such as a car or property. The lender can seize the collateral if you fail to repay this type of secured personal loan, which reduces their risk.

Improving your credit score before applying for a personal loan is also a good idea. You can do this by paying your bills on time, reducing your debt-to-income ratio, and disputing any errors on your credit report.

Finally, consider alternative lending sources, such as payday loan apps or cash advance apps. These sources may be more flexible with their lending criteria and offer better rates than traditional banks. You can see the best cash advance apps below to get up to $250 instantly:

 
 
 
MMG Rating:
5.0
MMG Rating:
4.8
MMG Rating:
4.8
30 day free-trial
Fees: $1/mo
Fees: $8/mo
  • App Store: 4.6 – 172.6K Ratings
  • Get up to $250
  • App Store: 4.8 – 631.9K Ratings
  • Get up to $500
  • App Store: 4.8 – ‎116k reviews
  • Receive up to $250 today
MMG Rating:
5.0
30 day free-trial
  • App Store: 4.6 – 172.6K Ratings
  • Get up to $250
MMG Rating:
4.8
Fees: $1/mo
  • App Store: 4.8 – 631.9K Ratings
  • Get up to $500
MMG Rating:
4.8
Fees: $8/mo
  • App Store: 4.8 – ‎116k reviews
  • Receive up to $250 today

Overall, it's important to remember that getting a personal loan with bad credit may come with higher interest rates and fees, so it's important to shop around and compare offers before making a decision.

Best Bad Credit Loans Summary

Bad credit loans can be a lifeline for those with poor credit scores who need access to funds. In general, the best bad credit loans are those that offer reasonable interest rates, flexible repayment terms, and transparent fees.

Some of the top lenders in this space include Upgrade, Upstart, and ZippyLoan, which all offer unsecured personal loans that can be used for a variety of purposes.

Additionally, secured loans such as auto title loans and pawnshop loans may be available to borrowers who can put up collateral.

It's important to remember that bad credit loans often come with higher interest rates and fees, so borrowers should make sure they understand the terms of the loan before signing on the dotted line.

About the author

Brian Meiggs
Hi, I'm Brian Meiggs! A personal finance expert, entrepreneur, and the founder of My Millennial Guide. My drive is to help others unlock the wealth of freedom and pave the path to financial success. With my bachelor's degree in finance, I help millennials follow the smart money in order to increase their earning potential and start building wealth for the future. I write regularly about side hustles, investing, and general personal finance topics aimed to help anyone earn more, pay off debt, and reach financial freedom. I have been quoted in major publications including Business Insider, Yahoo Finance, NASDAQ, Discover, GoDaddy, BiggerPockets, Fox News, Debt.com, Quick Sprout, Money Geek, MSN Money and many more!