Best Personal Loans for Bad Credit (Credit Score 670-739)

Good credit is essential for success. You can get credit cards with excellent rewards and low-interest personal loan rates. This guide will help you borrow if your credit rating is excellent.

Your success is dependent on your credit rating. It’s not uncommon to be approved for any personal loan with a 700 credit score you apply for.

A good credit score is an advantage when applying for jobs and life insurance. Employers with good credit are more likely to be stable and to be employable. They are considered less risky by insurance companies than people with bad credit.

We will discuss personal loans options with you if you have excellent credit. We will also discuss how to improve your credit score and get the best credit rating.

To get the best loans, you must have good credit

For those loans for good credit, there are many loan options. This is especially true for those with credit scores over 700. Even if your credit score isn’t the best, it is sufficient for lenders to be open to doing business in your area.

Some lenders are more anxious than others. Avoid these lenders. Many lenders offer loans for good credit borrowers. They offer personal loans for good credit borrowers.

The minimum credit score requirement that lenders require is at or below 700, which falls within the range of credit that is considered to be good. Many banks and online lenders who offer personal loans will be encouraging good credit borrowers to qualify.

A loan aggregator

These online platforms make it possible to connect with hundreds, if not hundreds, of lenders. These online platforms save time and make it easier to connect with multiple lenders. Once you submit a loan summary request, lenders will contact you. You can choose which one best suits your needs. These are the best.

  • Fiona matches personal loans starting at $1,000 and up to $250,000. The loan term is between 6 to 24 months and has an APR of 2.9%. Fiona’s easy form will enable you to receive loan funds offers in minutes.
  • Credible offers loans starting at $600 and up to $100,000. You can see all available lenders on the platform without having to enter your identity and credit information. Credible will give $200 if they find a lower personal loan rate. This aggregator is well worth your time when searching for a loan. See Best Rate Guarantee for more details.
  • Monevo can get loan offers from as many as 30 banks and lenders without impacting credit scores. Depending on how much you pay, the maximum loan amount you take out can be repaid within 12 to 144 months. The loan is ideal for people who have a substantial amount of money to repay and are willing to make small monthly payments.

Top Personal Loan Lenders

If your credit score is excellent, there are personal loan lenders that will approve you.


Takes into account many factors when approving loans. SoFi personal loans take into account your financial history, credit score, and monthly verifiable income when approving loans.

If your debt-to-income ratio is high, a lender who relies on credit scores might offer you a lower rate. An autopay discount can be used to reduce your rate. You can cancel your autopay payments if you lose your job. SoFi can help find you the next job.

Marcus by Goldman Sachs 

Offers personal loans without fees (origination fees and transfer fees) starting at $3500 and ending with $40,000. Personal loans have an annual percentage rate (APR) fixed that stays the same throughout the best loan terms.

This means you’ll always owe exactly what amount each month. Marcus offers a bonus: Marcus will offer a bonus to you if your loan has been paid in full and on time for 12 consecutive months. This bonus allows you to defer interest payments for a month. Marcus has a prequalification form that includes a soft credit check that won’t affect your credit scores.


Maybe an option if you don’t have a good credit score. While interest rates are higher than other options, they offer competitive interest rates than payday loans. If you have a more extended monthly payment period, there will be no late fees.


The online loan application process is quick and easy, but the financial institution asks for (and provides!) more information. Information. The approval process includes an in-person component. You will need to visit the branch and speak to a loan specialist to get your loan approved. OneMain personal loans may be secured with collateral (secured loans).

Best Egg

Personal loans available from Best Egg are priced between $2,000 and $35,000. Best Egg personal loan is available for nearly any purpose. To be eligible for the lowest interest rate, Best Egg requires that you have a minimum of $100,000 in minimum individual annual income and a credit score below 700. These requirements will help you understand your financial situation and make it easier to apply.


Offers personal loans that can be applied online in just minutes. You can get funding up to $50,000 in as little as two days. Refer a friend and get $150 more when they apply for a loan.

Peer-to-Peer lenders

These loans may have higher interest rates and fees than those offered through banks or credit unions. These loans do have some benefits. A personal loan of up to $40,000 can be obtained for any purpose. These loans can be used to fund any purpose.

They can be particularly beneficial in cases of significant medical expenses. This area needs special attention. A loan can be hard to get for any business. A bank or credit union will not approve a loan for a new company or one under construction. Personal loans via P2P can be used for all purposes. These loans are a great source of financing for new businesses.

  • LendingClub Bank lets you borrow up to $40,000 at an affordable fixed interest rate with monthly on-time payments. It takes only minutes to apply, and you will get a decision within minutes. Once you submit your application, investors will be able to fund the loan. You will receive the funds within days.
  • Prosper makes it easy to get loans ranging from $2,000 to $45,000,000. You must have at least three credit lines in your credit report to be eligible. If your credit score is less than 680, you may still qualify for a loan. You will be eligible to receive higher interest rates and more significant loan amounts if you have better credit.

There are many types of loans that those with good credit can access

Home equity loans

These loans are ideal for people with a good and fair credit scores. Also, these loans can be home equity loans or home equity lines of credit (HELOCs). These loans can be secured with your home and offer lower interest rates than most other types. And, these loans offer greater loan amounts than other sources.

These are only a few of the options available:

Fixed monthly payments can be made with Figure. You can get rates as low as 3.00% annual percentage rate (APR). Sign up for credit union membership (0.25%) and autopay (0.25%) to receive a 0.50% discount. This rate is available to all qualified applicants. The rate includes a 4.99% origination charge.

Hometap lets you sell a portion of your future home to make cash. The company becomes a co-investor. Hometap will get a share of the proceeds when you’re ready to sell.

To get a personal loan for an auto, you must have good credit

If you have good credit, a personal auto loan may be possible, and even a credit mix. A personal loan may not be possible if your credit isn’t good enough or your income isn’t sufficient to get an auto loan.

Auto lending is not as popular as mortgages and other types of loans. Auto lending is a very diverse industry, so it isn’t as popular. You can also access subprime lenders, credit unions, and banks. Each one has its criteria.

If your credit score is strong, your bank or credit union might be able to approve you for an automobile loan. Your bank or credit union may pre-approve and offer you a better deal than the dealer if you have good credit.

Even if your credit score is not high, it can impact the interest rate you pay on your auto loans.

Shop around, regardless of your credit score. Credit unions can be more affordable than banks and offer better financing than dealer financing. DCU Credit Union offers auto loans starting from 2.74% APR and lending nationally. Acceptance is granted to credit scores as low as 650 Which is slightly lower than the 670-739 credit score range, which is generally considered good credit.

To get a mortgage, you must have good credit

If your credit score falls below 620, many mortgage lenders will let you borrow money. Some lenders will approve loans for those with credit scores below 600 and 580. A lower credit score means a higher interest rate. These are considered fair credit. They are within the credit limit of 580-669.

If you have 670 credit points or more, your chances of approval are better. Although you may not qualify for the lowest mortgage rate, those with higher credit scores will be approved.

If your credit score is good, you don’t require a cosigner or a large downpayment. You will be able to get the loan funding with your credit score without additional compensation.

There is no single recommendation as to which mortgage lender you should use. Virtually all mortgage lenders originate loans through Fannie Mae or VA. This means that while lenders can be flexible, all mortgage lenders must follow the same guidelines.

To calculate the effect of credit scores on mortgage payments, you can again use our mortgage calculator.

Credit cards are available to people with good credit

While personal loans may be more beneficial, using a credit card for debt loan payments might be a better option.

Many balance transfer credit cards offer 0% interest for 12–18 months. You have a year to repay your debts with ZERO interest. For those who spend a lot, a balance of credit card debt can be a great option. If you have debt that you can pay off personal loans, a balance transfer card is better than a personal loan.

Credit cards are referred to as “revolving credit” and a large component of the credit rating is the amount of your revolving credit make use of every month, or what you call your “credit utilization ratio.”

What is good credit?

Anyone who can see credit, like the online lender, may be able to see good credit loans. Different loan types may give rise to other definitions. Your credit score will be affected by whether you apply for a credit card or an auto loan.

Here are the three major credit bureaus. Experian is the largest credit bureau. Equifax and TransUnion are the other two. Experian defines “good Credit” as credit scores between 670 and 739. 21.5% of people are considered “good credit loan.”

But not all lenders will follow this standard. Lenders may consider credit scores below 700 acceptable. For good credit personal loans, online lenders may require that you have a credit score between 700 and 720. These scores will enable you to get lower interest rates and preferred pricing for any loan type you apply for.

If you are unsure of your credit score, check out our credit score calculator tool.

Let’s look at what loans might be available for you if you have excellent credit.

You can apply for loans if you have excellent credit. Standard documents will be required if you have good credit

This list can help you get loans of any kind. The lender will need to be able to identify the type of loan you are applying for and the documents you have.

  • You will need to submit your most recent payslip and a W-2 to document your income.
  • Supporting Social Security Income or Pension Income (award letter 1009) Documentation
  • Contact information for your employer (the lender will verify your employment).
  • Copy your income tax returns if you are self-employed or work for commissions.
  • Please provide the following information if you apply for an auto loan: Make, Model Price, VIN Number, and Price.
  • Enter the amount you receive or pay in child support.
  • Statements from brokerages or banks as well statements from retirement credit accounts.
  • You can request written explanations for late payments or other credit problems that may show up on your credit reports.

How to go from poor credit to excellent credit?

The impact of a personal loan on your Credit Score: Do you experience the initial hard inquiry. When you first request personal loans your credit score is likely to be affected by a slight drop. This is because the process of applying to get a loan for personal use can trigger an inquiry into your credit history.

Credit scores of 740 or higher are considered outstanding credit. To reach the top, you don’t need to have a credit score greater than 740. It is worth it. These are just a few reasons.

High credit scores will help you get the best financing deals. Even minor differences in interest rates can increase the loan’s lifespan by thousands of dollars.

Your credit score can drop 50 points if you don’t pay your bill on time. It can happen accidentally sometimes, but it is something that happens all the time. If your credit score is higher than 740, a 50-point decrease in credit score could lead to you being denied credit. A similar drop to 700 would bring your credit score down to 650, considered fair credit.

Credit improvement strategies

A credit score that is already high can be difficult to improve. You have likely credit for paying your bills in full and on time for a while. While you can’t directly improve credit scores, there are some things you can do to improve them.

You should keep an eye on your credit score and check it frequently for possible errors.

TransUnion is just one of the many free credit monitoring services available. Credit reporting errors should be corrected immediately. Tip: Register for credit monitoring services and be notified immediately if errors are made to rectify them.

Multiple accounts can be opened

Your credit score will be affected by how many accounts and debts you have. It is better to have multiple accounts and to pay on time. Your credit score will improve if you pay on time for student loans, credit cards, mortgages, credit card payments, and other credit cards.

Reduce your debt

Your credit score is also affected by your credit utilization. It is tough to obtain credit if your credit card debts exceed $20,000 Two proven ways to reduce debt are the snowball payment method or the avalanche.

The snowball method can pay all of your debts regardless of their size. All your debts will be paid at the highest interest rates by the avalanche.

You are planning for consolidation or refinance credit card debt since Ipass fund loans specifically to help with this. When your score for credit is at or below 640 and you are looking to credit card consolidation, you might be able to qualify for a secured loan to pay off -and pay lower charges and interest in comparison to other debt consolidation loans or credit with fairness.

When your score on credit is less than 680 and you are looking to consolidate credit card debt. If you’re looking for a loan, it’s easier to get the loan and pay lower fees (origination fee; transfer fee) and interest in comparison to other loans to consolidate debt for fair credit.

Your credit score could give you a range of choices when you’re in the search for personal loans. If you’re in the market for debt consolidation loans in the event that you need to borrow money to cover an unexpected expense, if you’re in need of a loan for an emergency, having good credit (payment history) can be a signal the lenders you’re not as much of risk of default.

Financial Protection

We also look at any regulatory actions initiated by agencies such as the Consumer Financial Protection Bureau.

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