The Best Personal Loan Options for People With Bad Credit
NEW YORK, May 25, 2023 (Newswire.com) - Credello: If you're looking into personal loans, you may have questions. You might want to know how many personal loans you can have or what is a good interest rate on a loan from a bank or credit union.
In this article, though, we'll focus on one aspect of personal loans that might be of particular interest to you. We'll discuss the best personal loan options for people with bad credit.
What Is Bad Credit?
First, let's talk about what most people consider to be bad credit. For this article, we'll use your FICO score as an example. You can also get different credit scores that correspond to the various major credit bureaus, but to simplify matters, we'll stick with your FICO score.
Your FICO score can be anywhere from 300 to 850. It's also possible to have no credit score if you haven't started building your credit yet.
If you have a FICO score below 670, many consumers and individuals in the financial world consider that to be bad credit. The lower your credit score is beyond that point, the worse financial shape you're in.
Now, let's discuss some personal loan options if your FICO score is 670 or below.
ClearViewLoans should certainly be on your list if you need a loan but don't have stellar credit. It's a comparison tool through which you can connect with approved lenders.
There are several options regarding the loan amount you need, the length of time you have to pay it back, and the APR you must pay. You can complete a simple questionnaire and get a list of offers you can peruse.
LendYou is another online entity through which you can get a small personal loan. You can get an installment loan through this site, or you can get an offer for a personal loan or a payday loan if you'd prefer either of those.
LendYou does not charge a fee to put you in contact with lending entities. You also have no obligation to accept any of the offers the lenders propose.
LendYou is suitable for individuals who want relatively small personal loans. You can get one from $100 to $2,500 there.
You might go through BadCreditLoans as well. That's another online entity that has an extensive network of potential lending partners.
It's one of the oldest and most reputable of these entities, as it has been around since 1998. It takes you just a few moments to apply online. There's no cost or obligation. You can get a personal loan, but also an auto loan, business loan, student loan, and others.
You Have Some Options Available
If you require a personal loan and have not-so-great credit, you can usually still find a willing lender. You might visit BadCreditLoans and fill out an application. You have no obligation, and there's no fee to use the service. BadCreditLoans is one of the better options because they have so many different kinds of loans you can get.
LendYou also has developed a following in the financial community. LendYou is probably best if you want a personal loan for a small amount. You can get a loan for any amount from $100 to $2,500 there.
If you go through ClearViewLoans, you have many options, including the length of time you need to pay back the loan, the APY, and the loan amount you require. You fill out a questionnaire, and the site returns a list of options in a couple of minutes at most.
You can absolutely get a personal loan if you don't have fantastic credit. Many consumers do it, so check out each of the options we mentioned in this article.
Credello is a financial tech company offering a personal finance tool that simplifies financial decisions through personalized, on-demand recommendations — so users can borrow, save, or invest with confidence. Credello believes that finding the right financial product should be as easy and interactive as online shopping, and we are on a mission to make that possible. For more information, please visit https://www.credello.com.