Best Personal Loans for Poor Credit for January 2026
Best Personal Loans for Poor Credit for January 2026 View All Best Personal Loans for Poor Credit for January 2026
- Top Picks
- Upgrade
- Upstart
- Achieve
- See More (3)
- Universal Credit
- Patelco Credit Union
- Avant
- Compare Providers
- Why You Should Trust Us
- How a Personal Loan Works
- Why Get a Personal Loan?
- Common Terms
- Pros & Cons
- How to Get Funding Fast
- Frequently Asked Questions
- Methodology
Find the Best Lender For You
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Credit Score — ≤ 620 ≤ 660 ≤ 720 720 + Loan Amount
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What to Know First
Someone with poor credit typically struggles to qualifying for a personal loan unless a lender offers credit products designed specifically for them or uses an alternate underwriting process. These kinds of loans tend to be more expensive in the long run, and there's no shortage of predatory lenders looking to take advantage of borrowers with fewer options. Fortunately, Investopedia has taken the guesswork out of finding bad credit lenders that you can depend on.
Investopedia’s experts researched and ranked 59 businesses based on several factors, including criteria informed by a survey of hundreds of borrowers. Upgrade stood out as the best personal lender for bad credit thanks to its reasonable rates, flexible terms, and joint application and auto-secured loans offerings.
Today’s Top Picks
- Best Overall, Best for Fast Funding: Upgrade
- Best for Low Minimum Credit Requirement: Upstart
- Best for Debt Consolidation: Achieve
- Also Good for Fast Funding: Universal Credit
- Best for Repayment Terms, Best with a Co-Borrower: Patelco Credit Union
- Best for Refinancing: Avant
Why Trust Us 59 Lenders reviewed 45 Loan features considered 2,655 Data points analyzed 284 Primary data sources used Investopedia collected data from dozens of lenders to evaluate the factors most important for borrowers. We used this data to rank each lender based on APRs and fees, loan amounts, repayment terms, customer experience, and more to provide unbiased, comprehensive reviews and help you make the right borrowing decision for your needs. Read our Full Methodology
What to Know First
Someone with poor credit typically struggles to qualifying for a personal loan unless a lender offers credit products designed specifically for them or uses an alternate underwriting process. These kinds of loans tend to be more expensive in the long run, and there's no shortage of predatory lenders looking to take advantage of borrowers with fewer options. Fortunately, Investopedia has taken the guesswork out of finding bad credit lenders that you can depend on.
Investopedia’s experts researched and ranked 59 businesses based on several factors, including criteria informed by a survey of hundreds of borrowers. Upgrade stood out as the best personal lender for bad credit thanks to its reasonable rates, flexible terms, and joint application and auto-secured loans offerings.
Today’s Top Picks
- Best Overall, Best for Fast Funding: Upgrade
- Best for Low Minimum Credit Requirement: Upstart
- Best for Debt Consolidation: Achieve
- Also Good for Fast Funding: Universal Credit
- Best for Repayment Terms, Best with a Co-Borrower: Patelco Credit Union
- Best for Refinancing: Avant
Why Trust Us
59 Lenders reviewed 45 Loan features considered 2,655 Data points analyzed 284 Primary data sources used Investopedia collected data from dozens of lenders to evaluate the factors most important for borrowers. We used this data to rank each lender based on APRs and fees, loan amounts, repayment terms, customer experience, and more to provide unbiased, comprehensive reviews and help you make the right borrowing decision for your needs. Read our Full Methodology
The Best Loans for People With Poor Credit Scores Under 600 — Our Expert Picks for Loans Almost Anyone Can Get Quickly
If youre not seeing anything in the results that are a good fit for your needs, consider warranties from these companies:
- Best Home Warranties
- Best Emergency Loans for Bad Credit
- Best Personal Loans for Bad Credit
| Company | APR | Credit Score est. | Loan Amount | More Details | |
|---|---|---|---|---|---|
Best Overall, Best for Fast Funding : Upgrade
- APR Range: 7.74% – 35.99%
- Loan Amount: $1,000 – $50,000
- Loan Terms: 24 months – 84 months
On Investopedia
Why We Chose It
On top of a relatively low credit score requirement, Upgrade’s best features are its auto-secured loan product and its acceptance of joint applications, each of which can make it easier to secure the lender’s best rates and terms.
Upgrade is also among the fastest lenders when it comes to funding times, with most borrowers receiving funds within one business day of accepting their loan offer. It’s little wonder that the lender has tens of thousands of glowing reviews on Trustpilot.
Pros & Cons
Pros
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Auto-secured loans and joint applications make qualifying easy
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Maximum repayment term of seven years
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Direct creditor payment offered
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Highly rated on Trustpilot
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Multiple options for loan discounts
Cons
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Maximum origination fee of 9.99%
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Poorly rated in latest J.D. Power study
Overview
While plenty of the best bad credit lenders offer low starting rates, high borrowing limits, or long repayment terms, Upgrade is among the few that offers all three. And you may be able to secure a lower rate through setting up autopay or using at least a portion of your loan funds to pay off outstanding debt.
Borrowers, especially those with poor credit scores, will likely appreciate that they can get a rate quote without a hard inquiry. Upgrade also has a short-term hardship program. With its Credit Health financial tool, you can monitor and protect your credit with helpful tips and fraud alerts.
However, Upgrade’s maximum annual percentage rate (APR) for personal loans for bad credit is on the higher side compared to other loans, and it charges a fairly pricey origination fee. The lender also scored a below-average 666 in the J.D. Power 2024 U.S. Consumer Lending Satisfaction Study.
Upgrade was founded in 2017. Headquartered in San Francisco, it also has offices in Phoenix; Atlanta; Orange County, California; and Montreal.
Additional Details
| Minimum Credit Score | 580 |
| Origination Fees | 1.85% to 9.99% |
| Membership Requirement | None |
| Available Discounts | Autopay, debt consolidation, and auto-secured loan discounts |
Read the Full Upgrade Personal Loans Review
Best for Low Minimum Credit Requirement : Upstart
- APR Range: 6.50% – 35.99%
- Loan Amount: $1,000 – $75,000
- Loan Terms: 36 months – 60 months
On Investopedia
Why We Chose It
Upstart uses a groundbreaking AI underwriting model that allows it to offer lower APRs without affecting its loan approval rates or credit policy. This is especially beneficial for borrowers who might have trouble qualifying for a personal loan, including those with poor credit scores.
Pros & Cons
Pros
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Minimum credit score of 300
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Exceptionally highly rated on Trustpilot
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Minimum APR of 6.50%
Cons
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Maximum origination fee of 12.00%
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Limited to two loan term options
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Co-signers and co-borrowers not permitted
Overview
Even among the best bad credit lenders, Upstart is the only one with the lowest possible minimum credit score requirement of 300. Borrowers without a credit history aren’t left out either, so long as they’re currently enrolled in or have graduated from an accredited school or other degree-granting program. Upstart offers a reasonable maximum loan amount of $75,000 and a single-day funding period.
While borrowers with exceptional credit will enjoy a low minimum APR and 0.00% origination fee, those who’d benefit most from Upstart’s generous credit policy will have to contend with a much higher maximum APR and a large 12.00% maximum origination fee. Borrowers with poor credit scores also can’t avoid these pitfalls by getting a co-signer or co-borrower, as these options aren’t available for Upstart’s loans.
Upstart was founded in 2012. It’s headquartered in San Mateo, California, and has additional offices in Columbus, Ohio, and Austin, Texas.
Additional Details
| Minimum Credit Score | 300 or no credit history |
| Origination Fees | 0.00% to 12.00% |
| Membership Requirement | None |
| Available Discounts | None |
Read the Full Upstart Personal Loans Review
Best for Debt Consolidation : Achieve
- APR Range: 8.99% – 29.99%
- Loan Amount: $5,000 – $50,000
- Loan Terms: 24 Months – 60 Months
On Investopedia
Why We Chose It
If you’re seeking a bad credit loan to consolidate your outstanding debt, then consider Achieve. Not only can this lender pay your creditors directly, you may even get a discount for allowing them to do so. Achieve’s minimum credit score requirement of 620 is one of the highest on this list, but borrowers who don’t meet this criteria may apply with a co-borrower.
Pros & Cons
Pros
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Multiple options for loan discounts
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Direct creditor payment offered
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Co-borrowers permitted
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Consultants available for application assistance
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Highly rated on Trustpilot
Cons
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Minimum credit score of 620
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Minimum loan amount of $5,000
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Maximum origination fee of 8.99%
Overview
As if directly paying your creditors wasn’t enough, Achieve also offers pre-qualification, allowing you to determine whether you’ll be approved before you apply. If you do decide to take out an Achieve debt consolidation loan, you’ll be able to call on a dedicated loan consultant who can walk you through each step of the application process. Achieve’s typical funding time is one day, but same-day funding is possible if an application is submitted early enough.
On the downside, in addition to its fairly high minimum credit score requirement, Achieve loans aren’t available in certain states. That said, if you reside in a qualifying state, you can benefit from three separate APR discounts. On top of permitting the lender to pay your creditors directly, you can also qualify for a lower rate by adding a co-borrower to your application and showing proof of sufficient retirement funds.
Achieve was originally founded in 2002 as FreedomPlus. It’s headquartered in San Mateo, California, and has additional offices in Dallas, Texas, and Tempe, Arizona.
Additional Details
| Minimum Credit Score | 620 |
| Origination Fees | 1.99% to 8.99% |
| Membership Requirement | None |
| Available Discounts | Joint application, direct creditor payment, and retirement funds discounts |
Read the Full Achieve Personal Loans Review
Also Good for Fast Funding : Universal Credit
- APR Range: 11.69% – 35.99%
- Loan Amount: $1,000 – $50,000
- Loan Terms: 36 months – 60 months
On Investopedia
Why We Chose It
If your primary concern is getting funds fast, then Universal Credit is a solid alternative to Upgrade, as it also disburses funds within one business day of accepting a loan offer. Also like Upgrade, Universal Credit has the same range of loan funding amounts and a minimum credit score requirement of 580. One of the key ways it differs, however, is that it might allow you to secure your loan with your car (or a similar asset).
Pros & Cons
Pros
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Direct creditor payment offered
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Highly rated on Trustpilot
Cons
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Minimum APR of 11.69%
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Minimum origination fee of 5.25%, maximum of 9.99%
Overview
Universal Credit is an online lending platform powered by Upgrade, which might explain some of their similarities. Like its parent company, Universal Credit can pay your creditors directly, and it also allows you to pre-qualify. After going through pre-qualification, if you fail to qualify for an unsecured loan, the lender may give you the option of putting your car or a similar asset down as collateral.
Universal Credit’s minimum APR is notably higher than that of Upgrade (or any other lender on this list for that matter). Additionally, it levies an origination fee of at least 5.25%—also the highest one on this list. All that being said, borrowers have still rated Universal Credit very favorably on Trustpilot. Additionally, if you’re ever having any trouble with your loan, its extended customer service hours make it easier to get in touch with someone who can help.
Universal Credit got its start in 2020. As with its parent company, this lender is based out of San Francisco.
Additional Details
| Minimum Credit Score | 580 |
| Origination Fees | 5.25% to 9.99% |
| Membership Requirement | None |
| Available Discounts | Autopay and direct payment discounts |
Read the Full Universal Credit Personal Loans Review
Best for Repayment Terms, Best with a Co-Borrower : Patelco Credit Union
- APR Range: 9.30% – 17.90%
- Loan Amount: $300 – $100,000
- Loan Terms: 6 months – 84 months
On Investopedia
Why We Chose It
At 640, Patelco Credit Union has the highest minimum credit score requirement on this list, so borrowers with poor credit scores will likely need a co-borrower. Membership is also required in order to gain access to this lender’s services. However, if you’re able to join and qualify, then you’ll find low rates and a wide range of loan amounts and repayment terms.
Pros & Cons
Pros
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Minimum loan amount of $300, maximum of $100,000
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Maximum repayment term of seven years
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Doesn’t charge an origination fee
Cons
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Minimum credit score of 640
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Membership required
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Physical branches limited to California
Overview
Patelco offers several types of personal loan products, including debt consolidation and secured loans. While its minimum APR isn't the lowest on this list, it has a low APR maximum. And if you don’t qualify for the lowest rate, you’re automatically enrolled in its LevelUp program, which will lower your rate by 0.50% (up to a 1.50% maximum) for each year that you make on-time monthly payments. There’s also an additional 0.10% discount for new consumers who meet certain requirements.
This credit union also has a much wider range of loan amounts, greatly benefiting borrowers who only need a few hundred dollars or to make a substantial purchase. Additionally, if you ever have trouble repaying your debt, the lender has multiple hardship assistance programs available. Although Patelco’s only physical branches are scattered across California, anyone nationwide can become a member by joining the Financial Fitness Association.
Patelco was founded in 1936. Its headquarters is in Dublin, California, and it has 36 additional offices in the Northern California area.
Additional Details
| Minimum Credit Score | 640 |
| Origination Fees | 0.00% |
| Membership Requirement | Work for a Patelco partner employer; live, work, attend school, or worship in certain areas of California, have a Patelco member as a family member or roommate, or join the Financial Fitness Association |
| Available Discounts | 1.50% LevelUp Program and 0.10% new member discounts |
Read the Full Patelco Credit Union Personal Loans Review
Best for Refinancing : Avant
- APR Range: 9.95% – 35.99%
- Loan Amount: $2,000 – $35,000
- Loan Terms: 24 months – 60 months
On Investopedia
Why We Chose It
While Avant isn’t the only lender on this list that offers refinancing, it has the lowest minimum credit score requirement of those that do, making it easier for borrowers with poor credit scores to qualify. If you later become eligible for refinancing, Avant will provide a qualified customer with additional funds and potentially a lower APR.
Pros & Cons
Pros
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Minimum credit score of 550
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Highly rated on Trustpilot
Cons
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Administration fee of 9.99%
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Co-signers and co-borrowers not permitted
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Poorly rated in latest J.D. Power study
Overview
While Avant’s low minimum credit score requirement does mean borrowers with bad credit are more likely to qualify, they’re also more likely to get stuck with the maximum APR of 35.99%. On top of that, the lender will also levy an administration fee of up to 9.99%. While this is a steep upfront price to pay, remember that making your monthly payments on time will steadily improve your credit score, which gives you a better chance of securing a lower rate when you refinance.
Avant does a soft credit check when you check your loan options, allowing you to preview your rates and terms without impacting your credit score. Its interest rate and repayment term ranges are reasonable. But it takes up to two business days to fund the loan, which is one of the slowest funding times of any lender on this list. Additionally, Avant has tens of thousands of positive reviews on Trustpilot, though it received a below-average score of 657 in the latest J.D. Power study.
Founded in 2012, Avant’s headquarters is located in Chicago.
Additional Details
| Minimum Credit Score | 550 |
| Origination Fees | 1.50% to 9.99% |
| Membership Requirement | None |
| Available Discounts | None |
Read the Full Avant Personal Loans Review