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Best Bad Credit Loans Of 2023

Sometimes you find yourself in need of extra money, whether it’s to cover the cost of a new car to travel to work or to pay for an unanticipated utility bill. However, if your credit score isn’t great, you might struggle to get a loan.

Fortunately, there are still options for you out there: Depending on how much money you require, you might be able to secure a loan from a company that specializes in loans for people with negative credit. The major challenge can be selecting the best option because so many lenders are available. Consequently, we have included the top loans below if you are dealing with negative credit.

Jacob Wade/ The Balance | We all have gone through a financial crisis at some point in our lives

OneMain Financial

OneMain Financial’s auto-secured loans often have lower interest rates than the firm’s unsecured loans. However, they come with expenses, such as origination, late, and insufficient funds penalties, which could raise the amount you must pay back. You won’t be penalized if you pay off your loan early. Loan durations of two to five years are available, with loan amounts ranging from $1.5k to $20k.


One of the few businesses, Upstart, bases its decision on criteria other than your credit score. Furthermore, it provides fairly inexpensive interest rates.

It takes into account things like work history, credit history, employment history, and education. To be eligible for a loan, you typically need a credit score of around 300, though you can still be approved even with a short credit history. Upstart can run a light credit check if you want to know your APR before you apply. The business will run a hard credit inquiry after you apply for the loan, momentarily lowering your credit score.

Orlando Magazine/ Pinterest | A good credit score starts at 670 on the FICO scale

You can borrow anything from $1k and $50k with a three- or five-year loan. Upstart offers quick service; if you accept the loan by 5 p.m. EST on Monday through Friday, you’ll receive your money the following business day.


In the 48 states and Washington, D.C., LendingPoint, an internet lender with headquarters in Atlanta, provides personal loans to potential customers; it does not provide loans in Nevada or West Virginia. Prospective borrowers in ineligible states can apply online and get funding immediately.

The range of LendingPoint personal loans is $2k to $36.5k; the lowest loan amount in Georgia is $3.5k. Repayment lengths range from two to five years – or 24 to 60 months. High maximum APRs and origination fees are LendingPoint’s two key drawbacks. While a high credit score will normally help you avoid excessive APRs, your state’s laws will affect LendingPoint origination fees, ranging from 0% to 7%.

Shutterstock/ Money | Personal loan interest rates vary depending on your score and the qualification requirements


Payday loans are renowned for having high interest rates and short repayment periods, and they don’t improve your credit score. OppLoans transmits your payments on a personal loan to credit reporting agencies. The loan might have payback terms of nine to 18 months, so you are not required to pay it back on your next payday. Moreover, interest rates are lower than those of payday lenders (but higher than traditional lenders). OppLoans provides loans in the $500 to $4k range.

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