A personal loan for people with less than perfect credit can help rebuild credit history with on-time payments reported to the credit bureaus.
Borrow up to $35,000
If you can’t get a bank loan due to less-than-perfect credit, you can still borrow up to $35,000 with up to 5 years to repay. Choose your terms and if you like, repay the loan early without incurring any pre-payment penalty fees.
Good Credit is Not Needed
Unlike banks where good credit is needed to qualify, less-than-perfect credit can qualify. The minimum credit score required for loan consideration is 560. People with problem credit have few choices for personal loans but having imperfect credit does not mean you cannot repay a loan. You just need a chance to prove you can manage credit successfully. Thousands of people have qualified for this loan.
Fixed Interest Rates
Interest rates are slightly higher than a traditional bank but with imperfect credit options are limited. Rates are very affordable compared to other lenders (payday lenders) that cater to less-than-perfect credit. Depending on credit history interest rates range from 9.95% to 36.00%. (NY Residents rates range from 19.00% to 24.99%).
How Rates are Determined
Loans are ranked by letters A through E. An “A” letter loan requires a minimum credit score of 720. An “E” letter loan requires a minimum credit score of 560. As with most credit products, the better your credit score, the lower your interest rate. Interest rates range according your credit score from 9.95% being the lowest and up to 36.00% being the highest.
Even though consumers with imperfect credit scores can expect to pay a higher interest rate, the highest interest rate is still a lot lower than other loan companies.
- For loans up to $35,000 a minimum 680 credit score is needed
- For loans up to $25,000 a minimum 610 credit score is needed
- For loans up to $20,000 a minimum 560 credit score is needed
There are not many lenders that offer loans, up to $20,000 for a credit score of 560.
Super Fast Approval
If you apply online today, you can have your money as soon as the next business day, so you can focus on the things that really matter. The automated online system can issue a personal loan offer in real time that means you can apply and get approved 24 hours a day.
As soon as you submit your application, you’ll get an instant decision on your eligibility and what loan amount you qualify for. There is no impact to your FICO score. It is a soft pull on your Transunion credit report.
Confirm Loan Amount
Once approved, you’ll select the loan amount that’s right for you and accept the terms of your loan agreement.
Pay back your loan in installments a little at a time or repay in full at any time before the loan term is up. There are no pre-payment fees. Choose convenient automatic payment options so you’ll never have to worry about forgetting your due dates.
Build Credit History
Payment activity is reported to Transunion and Experian credit bureaus. Full and on-time payments toward your loan will help you build your credit history.