Bad Credit Personal Loans

Bad Credit Personal Loans [Best Lenders 2022]

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Bad Credit Personal Loans

So, how is your credit these days? If that question makes you a little nervous, you’re not alone. Over half of all Americans have credit scores that limit their access to prime (meaning low) interest rates; millions of other Americans have trouble qualifying for any loan at all due to their poor credit.

However, if credit problems are keeping you from being able to qualify for loans from traditional lenders, don’t panic; there are many other options out there that can get you the money you need. Let’s take a look at some of the bad credit personal loans that are available, so you can determine if one of these options could work for you.

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Best Bad Credit Personal Loans

Lending Tree Bad Credit Personal Loans

If you’ve got bad credit and you’re searching for a personal loan, a great place to start is Lending Tree. Founded way back in 1996, Lending Tree is an online lending platform that connects prospective borrowers to multiple lenders.

There are thousands of institutional and private lenders on the site, and many are willing to lend to borrowers with less than stellar credit. However, bad credit personal loans on this site will usually be issued with considerably higher APRs to account for the risk. 

Additionally, you may be required to do one or more hard credit checks while searching for loans on the site, which could further impact your credit score.


Another great place for bad credit personal loans online is Upstart. Upstart is a high-tech lending platform that uses cutting-edge artificial intelligence to review a borrower holistically, instead of just looking at a credit score.

As a result, prospective borrowers who would almost certainly be rejected by traditional lenders can often qualify for a personal loan on Upstart.

The interest rates are reasonable on Upstart, and you can obtain loans for up to $100,000 if you qualify. However, Upstart’s services are not available in Iowa or West Virginia, and the loan origination fees can be high as well.


An online bad credit personal loan direct lender that is worth considering is OppLoans. OppLoans specializes in providing loans to people with poor credit. In fact, it does not even do a credit check during the application process; you just need to have a source of income and a checking account.

If you qualify, you can rapidly receive a loan of up to $4,000 from OppLoans. However, the APRs can be extremely high for this lending platform and it is only available in 13 states at this time. Additionally, the $4,000 lending cap is modest and may not meet your needs as a borrower, either.

Loans Under 36

While Loans Under 36 is not a direct lender, it is a loan matching service that can introduce prospective borrowers with lenders. This platform has no minimum credit score requirement, so even if you have poor credit you can find a loan from $500 up to $36,000.

As the name says, the highest APR you’ll find on this site is 35.99 percent. However, like many of the other bad credit platforms, Loans Under 36 is not available in every state. Additionally, while the platform itself does not do a hard credit check, the lenders you end up applying for a loan with may.

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NetCredit is another lending platform that serves borrowers with bad credit. You can obtain a loan for$1,000-$10,000 from this platform even if you have bad credit, and the funds are often available in one to three business days. There are no pre-payment fees on NetCredit, either. However, this platform charges APRs that range from 36 to 55 percent, and it is not available in every state either.

Bonus: Credit Builder Loans

If your bad credit is keeping you from obtaining access to the type of cash you need, one thing you may want to consider is a credit builder loan. A credit builder loan is specifically designed to help improve a borrower’s credit score.

In most cases, a borrower will make small monthly payments towards the loan balance with one of these loans (which are usually small); once the loan is “paid off,” the lender then deposits the lump sum paid off in your account. While you cannot use one of these loans to buy anything, it can definitely help improve your credit so you can qualify for the loans you need.

Bad Credit Personal Loans: Parting Thoughts

If bad credit is holding you back, you do have options. Any of the lending platforms described above can provide a pathway for you to obtain personal loans when you run into roadblocks with traditional lenders.

Each one of them has their own advantages and drawbacks and they are worth studying closely before committing to one of them for a personal loan.

So, take some time to review the bad credit personal loan options described here and find an online lending platform that is a good fit for you.


Thanks for reading our article about bad credit personal loans.

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