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BAD CREDIT LOANS
Best Personal Loans for Bad Credit 2026
Sorted by APR. These are today's best rates for your loan amount.
Filtered for lenders most likely to approve your application.
Sorted by funding speed. Same-day and next-day options highlighted.
Personal loans built for debt consolidation — lower rates than most credit cards.
We've simplified the comparison to the top 3 options for first-time borrowers.
Based on your browsing, here are the top picks most users in your position chose.
LIVE RATE7.80% APRfor qualified borrowers · No hard credit pull
📋 Reviewed by WiseIQ Editorial Team · Updated April 2026 · Editorially independent
Having bad credit (below 580) doesn't mean you can't get a personal loan — it means you need to find the right lender. Several reputable online lenders specialize in bad credit borrowers and offer rates far below payday loan alternatives.
WiseIQ Expert Tip
Before accepting any loan offer, calculate the total cost of the loan (principal + all interest + fees). A lower monthly payment often means paying thousands more over the life of the loan.
6–36%
APR Range
$1K–$50K
Loan Amounts
24–60 mo
Typical Terms
UpstartAccepts 300+ credit score, rates from 7.80% APR
WiseIQ's editorial team evaluated each option based on annual fees, rewards rates, approval requirements, customer service ratings, and overall value for the target user. All rates and terms are verified as of April 2026.
APR Range Comparison: Personal Loans 2026 — Starting and maximum APR for a $10,000 loan. Rates verified May 2026.
💡 Expert Tip: Pre-qualify with multiple lenders before applying. Pre-qualification uses a soft credit pull and won't affect your credit score.
LendingPoint580+ credit score, same-day funding available
A personal loan is not the right tool for every situation. Consider alternatives if any of the following apply to you:
You have home equity: A HELOC typically offers rates 5–10% lower than personal loans. If you own your home, compare HELOC rates before taking a personal loan.
Your debt is primarily credit card debt: A balance transfer card with a 0% intro APR (typically 12–21 months) will cost less than a personal loan if you can pay off the balance within the intro period.
You need less than $1,000: Most personal loan lenders have minimum amounts of $1,000–$2,000. For smaller needs, a credit union payday alternative loan (PAL) or a 0% APR credit card may be more appropriate.
Your credit score is below 500: Most personal loan lenders — including those that accept "bad credit" — have practical minimums around 500–560. Below this, secured loans, credit-builder loans, or co-signer arrangements are more realistic options.
You are in active bankruptcy: Personal loan lenders will decline applicants in active Chapter 7 or Chapter 13 proceedings. Resolve your bankruptcy first.
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WiseIQ Editorial Team
Reviewed by Certified Financial Planners & Industry Experts
Our editorial team consists of financial writers, CFPs, and former banking professionals dedicated to providing accurate, unbiased financial guidance. All content is fact-checked and updated regularly. Learn about our editorial standards →
Frequently Asked Questions
What credit score do I need for a personal loan?
Most major lenders require a minimum score of 580–640. Upstart accepts scores as low as 300; OppLoans and OneMain Financial have no stated minimum credit score.
What's the best personal loan for bad credit?
Upstart is the best overall option for bad credit borrowers — it accepts scores as low as 300 and uses AI to evaluate factors beyond credit score, resulting in lower rates than most bad-credit lenders.
Can I get a personal loan with a 500 credit score?
Yes. Upstart (300+ minimum), OppLoans (no minimum), and OneMain Financial (no stated minimum) all offer personal loans to borrowers with scores around 500.
What's the difference between a bad credit personal loan and a payday loan?
Personal loans have fixed monthly payments, longer terms (12–60 months), and APRs typically under 36%. Payday loans require full repayment on your next payday and often carry APRs of 300%–400%. Personal loans are almost always the better option.
Most personal loan lenders require a minimum score of 580–640. The best rates (under 10% APR) typically require a score of 720+. Some lenders like Upstart consider education and employment history alongside credit scores, making them accessible to borrowers with limited credit history.
Online lenders like Upstart can approve and fund loans in as little as 1–3 business days. Traditional banks may take 1–2 weeks. Pre-qualification takes just minutes and uses a soft credit pull that won't affect your score.
The average personal loan APR is 11–12% for borrowers with good credit. Rates range from 6% for excellent credit to 36% for poor credit. Always compare at least 3 lenders before accepting an offer — rates vary significantly between lenders for the same credit profile.
Yes — lenders like Upstart, Avant, and OneMain Financial specialize in loans for borrowers with scores below 640. Expect higher rates (20–36% APR) and consider a co-signer to improve your terms. Improving your score by even 30–50 points before applying can significantly reduce your rate.
UpstartAccepts 300+ credit score, rates from 7.80% APR
Avant580+ credit score, next-day funding, soft pull pre-qual