Best Bad Credit Loans: Top 5 Online Lenders for People With Poor Credit

* We may receive a referral fee for companies featured in this article. This article does not constitute financial advice. Please contact a financial advisor if you need financial assistance.

(Ad) Personal loans can supply you with the money you need to pay medical bills, consolidate debt and student loans, afford major car repairs, and cover many other expenses. However, if you have a fair or poor credit score, you may have trouble accessing most traditional personal loans.

Bad credit loans are unsecured personal loans specifically for consumers with low credit scores. These loans can provide you with anywhere from $500 to $50,000 in as little as 24 hours, even if you have poor credit or have little credit history.

However, not all bad credit loans are created equal. While some online lenders have an easy application process and reasonable terms, others charge exorbitant interest rates and have a lengthy loan approval process.

To help you find the best personal loans for bad credit, we’ve reviewed the top online loan companies. We evaluated each lender on a variety of factors including loan amounts, interest rates, payment terms, application process, and speed of funds.

Here are our top picks for the best bad credit loans for 2022.

5 Best Bad Credit Loan Companies of 2022

  • BadCreditLoans: Best overall
  • CashUSA: Best for installment loans up to $10,000
  • PersonalLoans: Best for personal loans up to $35,000
  • Upgrade: Best for low APRs
  • Avant: Best for flexible repayment terms

#1. BadCreditLoans: Best Online Lender Overall

bad credit loans

If you have a bad credit score, it may be more efficient to look for a loan through a company specializing in low credit loans. BadCreditLoans is an online platform that can help you identify online lenders willing to offer you a loan.

BadCreditLoans works with dozens of lenders offering a range of loan requirements and terms. To request a loan through this platform, you can follow these steps:

  • Fill out the BadCreditLoans online form with information about your income, loan purpose, credit history, and location.
  • Wait to receive loan offers in your inbox from online lenders.
  • Review your loan offers and verify that you can meet the loan terms of any offers you’re interested in.
  • Accept a loan offer and provide an electronic signature.
  • Receive the funds in your tài khoản in as little as 24 hours.

Because this platform works with a wide range of lenders, your odds of matching with a lender are high. However, not everyone who applies for a loan through BadCreditLoans receives a loan offer.

If no lender offers you a loan, the platform may show you advertisements for lenders outside of its network instead. BadCreditLoans may also provide you with information about credit repair services, which are organizations that can help you improve your credit score and qualify for more loan options.

BadCreditLoans will never disclose your private information to anyone outside of its network. Additionally, once you apply for a loan, you are under no obligation to accept an offer from a lender.

After accepting a loan, your lender will specify your repayment schedule and provide you with details to repay your loan over time. Overall, BadCreditLoans is one of the top platforms to connect consumers with lenders of bad credit personal loans.

  • Loan Amount: $500 to $10,000
  • APR: 5.99% to 35.99%
  • Origination Fee: N/A
  • Terms: 3 to 72 months

Eligibility Requirements: Be 18 years or older; provide proof of citizenship; have a regular income; have a checking tài khoản from a bank or credit union; provide an email address and work and home phone numbers.

Click Here to Check Rates or Apply for a Loan

#2. CashUSA: Quick Online Loans up to $10,000

cash usa

CashUSA is a lending platform that connects users with lenders who meet their needs. This website is an excellent location to find personal loans for bad-credit borrowers because CashUSA works with lenders that have generous eligibility requirements.

CashUSA’s application process takes only a few minutes to complete. You simply need to fill out a form on its website detailing your loan request, credit score, financial situation, and location. Once you submit your application, you may begin receiving loan offers from online lenders within minutes.

If you receive an offer from a lender, we recommend closely reading the loan terms to understand what the lender will require throughout your loan duration. Additionally, you may need to provide more information, such as your bank tài khoản details, once you accept a loan offer.

If CashUSA cannot match you with a personal loan lender, the platform may send you resources for debt relief or credit repair instead. Taking advantage of these services may make it easier to qualify for a loan down the line.

CashUSA has helped thousands of consumers find personal loan options that suit their financial situations. If you’ve had trouble finding a personal loan in the past, we recommend checking out this site to narrow your choices and identify lenders with more generous eligibility terms.

This platform also uses industry-standard encryption and security measures to ensure the safety and privacy of its users. You can feel confident that your credit card information and personal details will remain secure within this website.

  • Loan Amount: $500 to $10,000
  • APR: 5.99% to 35.99%
  • Origination Fee: N/A
  • Terms: 3 to 72 months

Eligibility Requirements: Be at least 18; be a U.S. citizen; be employed for a minimum of 90 days; meet your lender’s minimum income requirements; have a valid checking tài khoản; provide a valid email address, home phone number, and work phone number.

Click Here to Check Rates or Apply for a Loan

#3. PersonalLoans: Best for Larger Loans up to $35,000

personal loans

It can be incredibly time-consuming to apply for several loans through different credit unions or financial institutions. If you’re looking to save time on your loan application process, we recommend applying through a lending platform like PersonalLoans.

PersonalLoans works with dozens of lenders who provide peer-to-peer, personal installment, and bank personal loans. Each of these loan types comes with different typical requirements. While PersonalLoans states that most lenders require a minimum credit score of 580, if your score is below this number, you may want to apply anyway and see whether the platform can match you with a lender.

To apply for a bad-credit loan through PersonalLoans, your first step is to fill out the simple loan request form on the PersonalLoans website. This form asks for information about your income, banking activities, and contact details. The platform will give this information to lenders within its third-party lender network.

A few minutes after submitting your application, PersonalLoans will notify you whether it has matched you with any of its lending partners. If so, you can review the offers from these partners, including the loan terms, repayment requirements, and loan duration. Once you agree to these terms, your lender will send your loan proceeds right to your bank tài khoản.

PersonalLoans is free to use, and the only fees you will pay are the ones associated with your loan offer from a lender. This platform can allow you to find loans for any occasion and offers competitive rates for the bad-credit lending industry.

  • Loan Amount: $1,000 to $35,000
  • APR: 5.99% to 35.99%
  • Origination Fee: 1% to 5%
  • Terms: 3 to 72 months

Eligibility Requirements: Be 18 or older; have a valid Social Security number; be a U.S. citizen or permanent resident; receive regular income; don’t have any accounts more than 60 days late; have a valid checking tài khoản with a credit union or bank.

Click Here to Check Rates or Apply for a Loan

#4. Upgrade: Reputable Lender with Low Fixed Rates


Upgrade is an online lender that offers low fixed rates, affordable monthly payments, and no prepayment penalties. Unlike some other companies on our list, Upgrade is a direct lender rather than a platform for lenders to connect with borrowers.

This bad-credit loan company has a straightforward application process. Before you officially apply for a personal loan through this lender, you can check your interest rates and loan terms by filling out the short online form and not affect your credit score. Once you apply for a loan, Upgrade will present you with loan options as long as you meet the minimum eligibility requirements.

This lender requires a minimum credit score of 580, so you’ll need to make sure your score is above that before applying. You can then review Upgrade’s loan options and determine the best offer for your needs. After you accept a loan offer, you can expect to receive your loan proceeds in your bank tài khoản within one business day.

Upgrade advertises flexible loan options that may make it easier to secure a fair loan with a less than perfect credit score. When you agree to a loan amount, you can choose a monthly payment that meets your budget and feel confident that this payment will never change. Your interest rate and repayment terms will also always stay the same.

Overall, if you’re on the hunt for a bad-credit personal loan, it wouldn’t hurt to fill out the form on the Upgrade site and determine your eligibility and rates. Note that Upgrade does not offer loans to Washington, D.C., or West Virginia residents.

  • Loan Amount: $1,000 to $50,000
  • APR: 5.94% to 35.47%
  • Origination Fee: 2.9% to 8%
  • Terms: 2 to 7 years

Eligibility Requirements: Have a minimum credit score of 580; have a maximum debt-to-income ratio of 45%; be 18 or older; live in the U.S.; have an active checking tài khoản.

Click Here to Check Rates or Apply for a Loan

#5. Avant: Good Online Lender for People with Poor Credit 


Avant is an online lender that facilitates loans through WebBank, an industrial bank with headquarters in Salt Lake City. This company provides unsecured personal loans through a fast application process.

Like Upgrade, Avant allows you to check your loan options and eligibility without actually applying for a loan. This feature can help you learn more about the terms and fees you can expect to pay without risking lowering your credit score in the process. If you want to save even more time, you can simply input your state of residence on the website and view the average rates and terms there.

If you would like to apply for an Avant loan, you can do so on the company’s website. You’ll need to provide information about your credit score, financial situation, location, and desired loan amount through an online form.

Once you submit your information, Avant will present you with a few loan options and detail the origination fee and loan amounts for each one. You can accept a loan offer on the Avant website, then provide your checking tài khoản information to receive your loan proceeds in your tài khoản through direct deposit.

If you’ve struggled to remember to make personal loan payments in the past, you’ll appreciate Avant’s convenient repayment options. You can register for autopay to allow Avant to withdraw your monthly payments automatically, ensuring that you make all your payments on time. If you’d rather make payments manually, you can do so through the Avant mobile app.

Avant charges a late fee of $25 any time one of your monthly payments is more than 10 days late. Additionally, you will need to pay a $15 fee any time a payment falls through. Making on-time payments is essential to being responsible with your loan funds and ensuring that your activity improves your credit score instead of harming it further.

Overall, Avant is a reputable lender that could offer the eligibility requirements and repayment terms you need to receive loan funds as a bad-credit borrower.

  • Loan Amount: $2,000 to $35,000
  • APR: 9.95% to 35.99%
  • Origination Fee: 2% to 5%
  • Terms: 24 to 60 months

Eligibility Requirements: Have a minimum credit score of 580; have a minimum annual income of $20,000; be 18 or older; be a U.S. citizen or permanent resident; have a checking tài khoản with a bank or credit union.

Click Here to Check Rates or Apply for a Loan

What Is a Bad Credit Personal Loan?

A bad credit loan is a category of personal loans designed for people with low credit scores or poor credit histories. Typically, the lower your credit score, the harder it is to find a lender willing to lend you money. Bad credit personal loans have less strict eligibility requirements, allowing consumers with poor credit scores to qualify.

However, like any financial product, bad credit loans have a catch. These loans tend to have higher interest rates than traditional personal loans, making them more expensive overall. Additionally, they often come with strict repayment terms to ensure that borrowers repay their loan funds on time.

In some cases, personal loans for bad-credit borrowers also have longer approval times and more intensive application processes than traditional personal loans. All in all, lenders offering bad-credit loans typically implement more security measures to ensure that they receive their personal loan payments, reducing the risk involved in lending out these loans.

How We Ranked the Best Bad Credit Loan Companies

We know that finding personal loans for bad-credit borrowers can be challenging. As a result, we created this list of the top five bad-credit loans to help speed up your search process and identify the companies with eligibility requirements that suit your needs.

When we put together this list of the best loans for bad-credit borrowers, we closely examined dozens of online lenders to evaluate their trustworthiness and loan terms. Specifically, we looked at the following factors to determine whether to add a bad-credit lender to our list.

Eligibility Requirements

Consumers with fair or poor credit scores typically do not meet the eligibility requirements for most personal loans. Your credit score is one of the most important factors indicating your financial responsibility. If lenders see that you have an unfavorable credit score, they typically assume you will not handle their loan funds responsibly.

When we searched for the best personal loans for people with bad credit, we looked at each lender’s eligibility requirements to ensure that bad-credit borrowers would be eligible for these loans. The loans that made our list have generous requirements, with some not having any minimum credit score criteria.

To use platforms like BadCreditLoans, you simply need to be 18 or older, be a U.S. citizen, have a checking tài khoản, and be able to provide contact information.

Loan Amounts

If you have a bad credit score and happen to qualify for a personal loan through a credit union or other financial institution, your lender probably will not offer you much money. Lenders often hesitate to provide large loans to people with histories of financial irresponsibility.

To give you access to more significant loan amounts, we looked for lenders and lending platforms that offer loans of at least $10,000. Through Avant, you may even qualify for a loan of $50,000. These higher maximum loan amounts can ensure that you have access to the loan money you need.


A loan term is the amount of time you have to repay your loan. Generally, lenders give people with good credit longer loan terms because they can trust that these consumers will repay their loans in total by the end of the term. Unfortunately, the shorter your repayment period, the higher your monthly payments will be because you will need to pay off your loan amount faster.

The platforms and lenders on our list may allow you to secure a loan with a duration of up to seven years, giving you plenty of time to repay. On the flip side, several of these lenders have a minimum repayment period of just 90 days, allowing you to minimize your interest if you can repay your loan faster.

Interest Rate

Lenders make money on loans through a few charges that they incorporate into the loan amount. One of these charges is interest, a percentage of the loan amount you must pay on top of your monthly payment.

Personal loans often charge interest in the form of an annual percentage rate, or APR. APR is simply the interest you must pay over a year.

Unfortunately, many bad-credit loan rates are incredibly high to reduce the lender’s risk. The most expensive short-term loans can require you to pay back two times your original borrowed amount in interest alone.

However, the unsecured loans on our list have a more manageable APR, ranging between 5% and 35%.

Speed of Funds

When you apply for a loan, you typically want to receive your funds as soon as possible. Sometimes, traditional personal loans from credit unions or banks can require you to wait weeks before receiving your loan money. Additionally, your application may take even longer to process if you have a low credit score, delaying your funds.

When we compiled our list of the best personal loan providers for bad credit, we searched for companies with fast turnaround times. All the lenders on our list can supply you with your loan amounts within a few days of your initial application. These lenders can also provide your funds through direct deposit, accelerating the process further.

Application Process

Personal loans can sometimes involve a lengthy application process. Often, lenders require you to fill out several pages of information about your average income, employment, current unpaid loans, credit history, and credit card debt as part of your application.

However, we searched for personal loan lenders with simple, fast applications that can save you time during the loan process. Each of the lenders on our list requires only a few pieces of information and uses an application that should take less than 10 minutes to complete.

How To Get an Online Loan with Bad Credit

If you’ve never applied for a loan online before, you may be unsure of the process. Thankfully, many lenders make it incredibly easy to secure a personal loan online. Even if you have a low credit score, you can follow these steps to get an online personal loan through any of the lenders on our list.

1. Examine Your Credit Report

Before you begin applying for loans for bad credit, we recommend looking at your credit report. You can receive a free copy of your credit report through any of the three major credit bureaus (Experian, Equifax, and TransUnion). Requesting a copy of your credit report through these agencies will not impact your credit score in any way.

Reviewing your credit history can spark your memory about any penalties you received in the past that lowered your credit, helping you avoid making those mistakes in the future. It will also show you your exact credit score, which you can use to determine your eligibility for personal loans.

2. Explore Online Loan Options

You can find a world of personal loan options online, each with different origination fees, interest rates, eligibility requirements, and penalties. While it may be tempting to accept the first offer you come across, we recommend taking time to explore all of your options and choose the one that makes the most financial sense.

Many lenders allow you to view offers without submitting a formal application. Better yet, these lenders require only that you fill out a short form to see your potential loan agreement and repayment terms. Filling out several offer forms can give you an idea of the types of loans you may qualify for and the various terms and interest rates available to you.

After taking time to explore, we recommend narrowing your options to one or two loans. Lenders often perform a credit check as part of your application, so you should apply only to a few loans to minimize the impact on your credit score.

3. Gather Application Information

Online personal loan applications typically require you to supply a few pieces of evidence of your financial responsibility and ability to repay the loan. Before you begin applying for any loans for bad credit, you should take time to gather the application information you’ll need to save time in your application process.

Specifically, be sure to locate your:

  • Social Security number
  • Name of your employer
  • Employer’s phone number
  • Debt-to-income ratio
  • Credit score
  • Annual household income

4. Apply Online

After gathering all your information and identifying the best loans for bad-credit borrowers like yourself, it’s time to submit your application. Generally, you should apply for only one loan at a time because submitting too many applications in a short period can lower your credit score. If you do not receive loan approval after your first application, you can apply for the next loan on your list.

5. Wait for Loan Approval

Most online personal loan companies use an automated algorithm to determine your eligibility for their loans. This algorithm allows you to receive loan approval within minutes of submitting your application. Once a lender approves your application, it will send you an official loan offer detailing your annual percentage rate, repayment terms, origination fees, and other loan information.

You can typically accept a loan offer online through the lender’s website. Most lenders will deduct your origination fee from your loan amount, saving you time.

6. Receive Your Funds in Your Tài khoản

Once you accept a loan offer, the lender should send your total loan amount minus fees to your checking tài khoản within a few days. Several of the loans on our list have a one-day turnaround, which means you can receive your funds within 24 hours of accepting the loan offer.

How To Identify a Bad Credit Loan Scam

Bad credit loan scams are rampant in the online loan industry. Many untrustworthy lenders prey on people with bad credit scores because they know these consumers are often desperate for a loan. Unfortunately, if you aren’t careful, these scammers can gain access to your bank accounts and steal your money.

Before you apply for an unsecured personal loan for bad credit, keep an eye out for these signs that could indicate a loan scam:

No Credit History Check

Lenders should always check your credit score and credit history as part of their loan application. Even if a lender does not require a minimum credit score, it needs this information to determine your interest rates and repayment terms. If a lender claims it isn’t interested in your credit report, you can assume it is trying to scam you.

No Registration in Your State

Lenders must receive registration in every state in which they lend money. Even the trustworthy lenders on our list do not provide loan services in every state in the U.S. because they have not received the proper registration in every state.

Before you apply for a bad credit loan, be sure to explore your options and determine whether it has the proper licensing to operate within your state. You should be able to find this information on the lender’s website easily.

Demands for Prepayment

Credible lenders subtract your origination fee and application fee from your loan amount rather than requiring you to pay these fees separately. If a lender ever asks you to provide cash or a prepaid card to pay these fees, you can assume it is trying to take your money and run. There’s no reason a lender wouldn’t be able to deduct these fees from your loan amount.

Suspicious Advertising Practices

Lenders should never need to reach out to you directly to advertise their unsecured loans. If you ever receive an email or text message from a lender promoting its loan products, and you never reached out to this company yourself, you can assume it is a scam. We recommend reporting these companies to the Consumer Financial Protection Bureau.

Pressure To Act Immediately

Deceptive loan companies often pressure you to act immediately to prevent you from analyzing their deceptive practices too closely. In reality, credible lenders should have no problem allowing you to take several days to look over your repayment terms and interest rates before accepting a loan offer. If a lender ever seems too pushy, we recommend walking away from the loan offer.

Types of Loans for People with Bad Credit

If you have a bad credit score, applying for one of the personal loans on our list is not your only way to receive fast cash. Numerous loan options exist that allow people with less-than-perfect credit to receive loan amounts quickly and easily. However, each loan type comes with its own benefits and drawbacks worth considering.

Here are the types of loans you can expect to qualify for with bad credit.

Secured and Unsecured Personal Loans

Personal loans are loans that you pay back in fixed monthly payments, also known as installments, and use to pay for personal expenses. There are two primary types of personal loans: secured and unsecured.

Secured loans require you to provide collateral in exchange for your loan amount, giving your lender a way to repay your loan if you fail to make monthly payments. For example, you can put up the deed to your house as collateral in a secured loan. Failing to repay your loan can give the lender the authority to seize your home.

Meanwhile, unsecured loans do not require you to provide any collateral. As a result, these loans are riskier for the lender, leading most lenders and credit unions to charge higher interest rates to balance this risk. Student loans are a common form of unsecured loan with relatively high interest.

If you have a bad credit score, you may have an easier time receiving a secured loan than an unsecured one. However, you should be 100% sure that you can make your monthly payments before you borrow money through a secured loan. Failing to pay back these loans can put your property at risk of seizure.

Payday Loans

Payday loans are short-term secured loans with high interest rates and strict terms. Most people visit payday loan companies to receive an advance on their upcoming paychecks.

For example, let’s say you need quick cash, but your next payday isn’t for two more weeks. You could visit a payday lender, receive the amount of your next paycheck, and write the payday lender a post-dated check for your next payday amount. On your payday, the lender would cash your check and charge you additional borrowing fees.

While payday loans sound good in theory, they come with incredibly high interest rates that make them much more expensive than they are worth. Many payday loan companies charge about $15 for every $100 you borrow. So, on a $1,000 loan, you would end up paying $150 in interest and fees.

If you can’t repay a payday loan amount, you will need to take out an additional payday loan, creating an endless cycle of debt.

Cash Advance

A cash advance is a cash withdrawal you can receive through your credit card company. When you take out a cash advance, you essentially borrow against your credit card’s line of credit. You can receive your cash advance loan amount by withdrawing money from an ATM with your credit card.

While cash advances can provide you with fast, small loan amounts, they can quickly increase your credit utilization rate, hurting your credit score. These loans also begin to accrue interest the day you withdraw them, making them more expensive than they are worth in most cases.

HELOCs for Poor Credit

A home equity line of credit (HELOC) is a credit line you can use as you need it, much like a credit card. These secured loans use your house as collateral and allow you to repay your loan amounts at a variable interest rate. While these loans typically have lower interest rates than personal loans, their terms depend heavily on your credit score and debt-to-income ratio.

HELOCs are typically best for people who need ongoing funds for home renovation projects or debt consolidation. If you’ve struggled in the past to find a loan with bad credit, searching for “HELOCs for poor credit” may provide you with more options.

Car Loans

Another way to receive a loan with bad credit is to put your car title up as collateral. You can find numerous car title lenders online that work with people with less-than-ideal credit scores.

When you take out a car title loan, you will need to give your car title to the lender. If you default on the loan, the lender can use your title to sell your car and repay your loan amount.

Like other secured loans, car title loans may leave you with lower interest rates and more generous repayment terms than unsecured personal loans. In some cases, you may not even need to provide your checking tài khoản information if you’d rather receive your loan in cash.

Personal Loans vs. Payday Loans

If you’re looking for a fast way to receive a loan, you may be unsure whether to apply for a personal loan or a payday loan. However, personal loans are far and away your better option, even if you have a low credit score. Payday loans have numerous disadvantages that make them not worth the small loan amounts you acquire through them.

First, these loans have incredibly steep interest rates that make them challenging to repay. If you are short on cash, you probably will not have enough money to repay your loan plus interest in a few weeks. While many lenders allow you to take out additional loans to cover previous loan amounts, this practice can create an endless debt cycle.

Many payday loans also come with a prepayment penalty. Even if you could acquire the funds to repay your loan amount early, this prepayment penalty would prevent you from escaping the steep interest rates and fees before your repayment term ends.

Finally, many payday lenders are untrustworthy. Giving your checking tài khoản information to these lenders could put you at risk of theft. At the very least, your lender could withdraw payments from your tài khoản automatically, even if you need the funds for more important expenses.

These disadvantages have led payday loans to become illegal in 14 states across the U.S. Overall, it’s best to avoid payday loans at all costs.

Frequently Asked Questions

Can You Use Personal Loans for Debt Consolidation?

Many consumers take out personal loans for debt consolidation and credit card consolidation. If you are struggling under mountains of high-interest debt, taking out an unsecured loan with a lower interest rate could allow you to gain a better grasp on your loan payments. Personal loans to consolidate debt can also condense your loan payments into a single payment, making your debt easier to manage.

However, you should be sure that any debt consolidation loans you consider actually have better terms and interest than your existing loans. If not, they may end up costing you more money to repay.

Can You Get a Bad Credit Loan Without a Credit Check?

You typically cannot receive an unsecured loan without a credit check. Most lenders check your credit to determine your interest rates and repayment terms before presenting your loan offer.

However, not all credit checks impact your credit score. If a lender performs a soft credit check, this activity will not appear on your report with the credit bureaus. However, a hard credit check would appear on your credit report and may impact your score.

If you’re unsure which type of credit check a lender performs as part of its application process, you can always contact its customer service team for more information.

What Are Bad Credit Loans Mostly Used For?

Consumers use personal loans for a range of purposes. Realistically, once you receive your loan amounts from lenders, you can use them for any purpose. Lenders typically cannot track your activity with your loan funds.

The most common uses for personal loan amounts include:

  • Debt consolidation
  • Student loans
  • Medical bills
  • Home repairs
  • Car repairs

However you decide to use your loan for bad credit, be sure that your activity leaves you with enough money to make your monthly loan payments. Planning out your loan use ahead of time can encourage you to act responsibly with your funds.

What Is Considered a Bad Credit Score?

Credit bureaus categorize consumer credit scores into categories like “good credit” and “fair credit” to help financial institutions determine consumers’ creditworthiness. According to Experian, one of the primary credit reporting agencies, these credit score ranges are as follows:

  • Poor: 300-579
  • Fair: 580-669
  • Good: 670-739
  • Very good: 740-799
  • Exceptional: 800-850

As you can see, there is no “bad” credit score range on this list. However, if your score is in the “poor” or “fair” range, you may have trouble finding loan opportunities.

What Interest Rate Can I Expect on a Bad Credit Loan?

The loan providers on our list offer loans with APR ranging between 5% and 35%. As a consumer with a fair or poor credit score, you can expect your APR to fall anywhere within this range.

However, you should keep in mind that APR is different from monthly interest. You can divide APR by 12 to determine your monthly interest rate.

Final Thoughts

Having a bad credit score doesn’t necessarily eliminate all your financial opportunities. Numerous lenders across the internet offer loans with decent terms and interest rates specifically for borrowers without good credit. However, examining all your loan options and reviewing your offers is essential to determine the most affordable, sensible loan for your needs.

We recommend starting your loan search by filling out the forms on platforms like BadCreditLoans and CashUSA to gain an understanding of the offers you can expect to receive. Then, take time to examine your offers closely and choose the loan that best suits your financial situation. Making regular payments on a loan can improve your credit score, setting you up for better opportunities in the future.

*This article is provided by an advertiser and not necessarily written by a financial advisor. Investors should do their own research on products and services and contact a  financial advisor before opening accounts or moving money. Individual results will vary. Foreign companies and investment opportunities may not provide the same safeguards as U.S. companies. Before engaging with a company, research the laws and the regulations around that service, and make certain the company is in compliance. For comprehensive guidance on U.S. investments and financial regulations, visit the Securities and Exchange Commission (SEC)’s