Bad Credit Loans

What counts as bad credit

There is no single line, but lenders generally treat scores under about 630 as subprime. How you got there matters to them: a score dented by one rough patch two years ago reads differently from missed payments last month. A thin file, meaning little borrowing history at all, is its own category and is often easier to work with than a damaged one.

Whatever the number says, you still have things a lender can price: income, time in your job, what you pay in rent, and whether the last six months look steadier than the last two years.

What to realistically expect

Expect the higher end of the rate range. APRs across our network run between roughly 5.99% and 35.99%, and with a low score you should plan around the upper half of that before you see anything better. Amounts also tend to start smaller. A lender that approves $2,000 today and gets repaid on time is more useful to you than one that declines $5,000.

Every lender shows you the APR, the term, and the total cost in writing before you sign. If those numbers do not appear, or you feel rushed past them, walk away.

How to improve the offer you get

Three things move the needle fastest. Ask for less: smaller requests clear more underwriting bars. Show your income clearly: pay stubs or bank statements that make your deposits obvious remove a lender's biggest doubt. And let recent history work for you: six months of clean payments on anything, even a phone plan, reads as the trend a lender wants to see.

It is also worth checking your credit reports for plain errors before you request anything. The Consumer Financial Protection Bureau estimates that a meaningful share of reports contain mistakes worth disputing, and a fixed error costs you nothing.

Warning signs worth taking seriously

No legitimate lender promises approval before seeing your information, charges an upfront fee to release a loan, or asks you to pay by gift card or wire. Any of those is your cue to leave. A licensed lender puts every cost in the loan agreement, and repayment terms through this network never run shorter than 91 days.

If the numbers on an offer feel unmanageable, you can decline it at no cost and try a smaller amount, or use our loan payment calculator to see what payment a given amount actually produces. A standard personal loan may also come back into reach after a few months of clean history.