Bad credit, which is less than 620 FICO score, doesn’t stop you from getting $5,000, $10,000, $35,000 unsecured Personal loan necessary to cover your financial emergency. There are a lot of lenders ready to approve you for an urgent cash advance with no hard credit check. They take into account other points such as your employment history, monthly income, the property you own, etc. 

How to apply for Personal loans for bad credit

The fastest way to apply for bad credit Personal Loans is an online application.

  1. Fill out an application form online in a few easy steps.
  2. Get an instant decision from a lender.
  3. The cash will be deposited into your bank account within 1 -2 business days after approval.

Must know!

Before applying, prepare the following documents and information4:

  • your monthly income
  • employment history
  • repayment history
  • documents proving the length of residence
  • cosigner’s documents and others depending on the lender’s requirements

Personal Loans for bad credit online

bad credit personal loans online

Personal Loans for bad credit are quick unsecured cash advances up to $35,000 for any personal needs. You can apply online or visit a local store or bank to get same-day funding. The requirements are rather simple and poor credit is not a problem to get guaranteed approval. 

Why choose easy online Personal loans for bad credit?

The main reasons to use a bad credit Personal Loan are:

  • debt consolidation
  • home repair
  • car repair
  • traveling
  • medical bills
  • any purchases.

Applying for a Personal loan online is safe and beneficial:

  • In most cases, you don’t need to provide any guarantor, collateral or credit report.
  • Even if a credit check is done by the lender, in most cases it’s soft, and doesn’t affect your score.
  • It’s quick. Getting money into your account usually takes less than 24 hours.
  • The rates are usually fixed; and besides, they are lower than those of Payday or Installment loans.
  • You have arranged a plan of payments, which makes it easier to plan your expenses.
  • You can use it for practically any purpose.
  • There is no prepayment penalty.

To get a $5,000 - $35,000 Personal loan with most success and least waste, bad credit applicants just need to be responsible, attentive, compare the rates and fees of all lenders, make a careful repayment plan and follow it to pay off on time.

How Personal Loans for bad credit work

Follow these simple steps and you'll find a personal loan fast and easily even with bad credit.

  1. Check your credit score. You can do it for free as one free credit report a year is allowed from each of the credit reporting agencies.
  2. Make sure you can afford this bad credit Personal loan. Use the calculator and plan your budget carefully.
  3. Compare the best bad credit personal loans offers from direct lenders. You may also consider banks or credit unions if you have an account or are a member of any. 
  4. Look for online personal loans for bad credit, but be careful to read the reviews and compare the rates and fees.
  5. Pre-qualify online. It won't affect your credit score and will let you shop around before making a final decision.
  6. If your credit score is very low, consider applying for secured Personal loans. They are more accessible but you'll need to back the loan by some collateral such as your home or car.

Get bad credit Personal Loans guaranteed approval for $5,000 and more

Of course, if your credit score is below 630, it’s a bit easier to get a small-dollar cash advance (such as a Payday Loan or Installment loan) than a $5,000, $10,000, or $35,000 Personal loan. But difficult doesn’t mean impossible. There are some credit unions, in-store and online lenders who take into account not only your credit history and score but have more flexible requirements. They check your employment, salary, other sources of income, previous loans and their payments due, the property you own, etc.

To get guaranteed approval form a direct lender it’s highly recommended to learn as much as possible about all the offers available as the rates and fees may vary from lender to lender.

The safest, quickest and easiest way to do it is to use a reliable comparing service such as COMPACOM. You’ll be able to compare more than 300 lending companies online, fill out an application form for free, and pre-qualify to find out your chances of getting approved.

Personal Loans for poor credit requirements

In all cases, you’ll need to meet some basic eligibility criteria:

  • American residence
  • Regular income
  • Checking account
  • Valid phone number and email address

Having all these, you then fill out a simple free application, get almost instant approval, and receive money into your account within one working day.

Bad Credit Personal Loans guaranteed approval no credit check

There's a chance to find a lender ready to offer you up to $35,000 Personal Loan with no hard credit check. Still, lenders will evaluate your creditworthiness and, depending on your score, will determine the rates and the loan amount for which you are eligible. Naturally, the worse your credit score, the higher the APR will be. You can expect the following figures:

Credit score and APR

The loan amount will accordingly be lower if you have a lower credit score. If you want to get the maximum amount possible, consider the following options and useful tips:

  • Before applying, check your credit report. You can do it for free at least once a year.
  • Join a credit union, which can offer you more favorable conditions. Though, this variant suits only those who can wait and don’t need money urgently.
  • Apply for an unsecured $1,000 - $35,000 Personal loan online or in-store if you need to pay off a credit card,o pay for studying expenses or home improvement.
  • Find a co-signer. Then you can apply for a Personal loan up to $35,000 with a better chance of getting approved, depending on the creditworthiness of the co-signer.
  • Apply for a secured Personal loan, offering a personal property as collateral. It may be a car, a house, etc.

Best unsecured Personal loans for bad credit 

If you look for a personal loan but have a bad credit score, the first thing you need to do is to find a lender ready to offer you a loan, ignoring your credit history. They will take into account your existing financial condition and ability to repay the money. Then you can choose whether to borrow online or in-store. Besides, you can apply to credit unions or even local banks. Credit unions are nonprofit financial institutions offering loans to all credit level borrowers with lower interest rates; but you must become a member to qualify, which can take some time. Some small banks can also serve you to help build your credit and it doesn’t require membership, though getting money there is not a quick procedure.5

Can I get Personal Loans for fair credit from a bank?

Most traditional banks offer Personal Loans to borrowers with good credit. Even with online direct lenders you usually need a credit score of at least 550 to 580 to qualify for a personal loan. Banks can offer cash advance to applicants with poor credit but the interest rates will be much higher. Consider such companies as Wells Fargo, Chase Bank, OneMainFinancial to try to qualify for the necessary funding with fair credit. Or simply apply online to find the most suitable bad credit Personal Loans lender.

What is a good and bad credit score? 

A credit score is a figure which lenders, banks, and other financial institutions use to assess how trustworthy or how risky you are as a borrower. This number is based on information from your credit report.1

Actually, there are hundreds of credit scores. They may be specific to a certain credit bureau, or to the type of loan. Fortunately, a few are more common and widely recognized than others. They are FICO, Experian, Equifax, TransUnion and Vantage scores.2 They share some of the main criteria identifying your creditworthiness but differ, slightly. Let’s see how.

According to your payment history, amounts owed, length of credit history, new credit, and types of credit used, the score ranges are the following:




300 - 850


330 - 830


300 - 850


300 - 850


501 - 990, A - F

The most influential factors for your FICO score are your payment history and the amount of debt you owe (65%), alongside the length of your credit history, your credit mix, and new credit/inquiries (35%). The most commonly recognized is the FICO score; while Experian, Equifax and TransUnion are the biggest official organizations maintaining records for practically everyone in the USA. VantageScore is rather new; it was created to provide to lenders risk assessments across all three reporting agencies.

For VantageScore, the most important factor is your payment history. The next are your age and types of credit you already have, combined with how much of your credit limit is in use.

Each lender independently determines what is a good or bad credit score. It can also vary according to the Credit Bureau you apply to and according to the type of loan you are applying for.

Credit score ranges

However, there are several general score ranges:

  • Excellent/very good credit score: 700 to 850
  • Good credit score: 680 to 699 (Average American score is 682)
  • Average/OK credit score: 620 to 679
  • Low credit score: 580 to 619
  • Poor credit score: 500 to 579
  • Bad credit score: 300 to 499

What these numbers really mean is defined in the following table:

Credit title




Very good


Credit score






What does it mean?

You may be rejected. Or you may need to pay a fee or a deposit.

To get approved may be rather difficult and the rates are likely to be higher

You are an “acceptable” borrower

You may get better interest rates from lenders

You will be easily approved for a loan

27% of people have a very good score while only 2% are considered poor risks. The highest average score is in Wisconsin, the lowest, in Mississippi. Still, any US resident with financial difficulties can apply and get approved for a loan. Those with very good or even an exceptional score may qualify for any type, amount and lower rate loans, while others can get a payday, personal or installment loan.

Although there is some distinction between a low credit score and a bad credit score, it is important to note that many lenders consider consumers with scores under 620 as credit risks.

How to check my Credit Score?

Federal law allows you access to a free copy of each of your three reports every 12 months, so there’s no reason not to take advantage of this benefit 3. You can check your credit report from each bureau for free, once per year, from It’s recommended to get a report from each of them as the score may vary. You’d better ensure they have the most accurate and up-to-date information – otherwise your credit score could be affected.

Interesting to know!
9% of Americans worry that they won’t be able to pay off their debt in the long-term future, while 2% are planning to check their credit report more often and 2% are going to check their credit score more often. These tendencies are definitely interconnected and interdependent!

When you request a copy of your credit report, you’ll see your financial history. It’s not the score. To get the score you need to purchase it from the company’s website. You can also sign up for a credit monitoring service if you expect to work on your credit score over time and want to view your progress on a regular basis. Just be sure to select a company that does indeed use the real FICO.

Bad credit loans alternatives 

If your credit score is lower than 620 there are options for you to solve your financial problems:

  • $100 - $1,000 Payday loans. Almost 90% approval even with bad credit, provided without collateral, guarantor or hard credit check.
  • $1,000 - $5,000 Installment loans. Also available for bad credit applicants, soft credit check, lower APR.
  • $5,000 - $35,000 Personal loans. Depending on the lender and their conditions, you still have a chance to get approved, though the amount and the APR will depend on your score. Soft, or sometimes hard credit check.
  • Cash advance. The same as Payday loans, but you withdraw the money from your credit card.
  • Credit builder loans. Lent by credit unions or local banks; small-dollar, low rates, but take a rather long time.

Thus, if you need a rather large sum of money and your FICO is about 600, the best option for you is to apply for a Personal loan.