What is a bad credit loan?

Bad credit loans are available for consumers with low credit scores. Loans for bad credit are typically offered by online lenders, which provide streamlined application processes and fast funding. 35+ personal loans reviewed and rated by our team of experts. 20+ years of combined experience covering personal loans and financial topics.

Should you get a bad credit Personal Loan?

Each serves a different purpose and caters to a specific financial need. A bad credit personal loan can give you access to quick cash in an emergency, give you relief from high-interest rate credit cards or help you pay for a large car or home repair. But there are disadvantages that also must be considered before making a decision.

Are personal loans more expensive if you have bad credit?

If you have bad credit, a personal loan may cost you more because lenders may see you as a greater credit risk. Since personal loans for people with bad credit can be more expensive, it’s especially important to compare loan terms to find the best deal. Here are a few basic terms to pay attention to.