Best Personal Holiday Loans for Good and Bad Credit 2020

EPF Last Update: June 23, 2020

People looking for holiday loans are an easy target for predatory payday lenders. ‘Holiday loans’ means nothing! It’s only a blatant advertisement that lenders use to attract more customers. We at ElitePersonalFinance have reviewed many similar sites and found that most of them are actually payday loans offering quick cash, which means they give you money without checking your credit, hoping that people will get into their scam loan trap. Other holiday loans can still be personal loans that try to attract people to get their loans, which is technically not so bad, but simply means nothing. This means nothing because there are even no special offers like holiday discount loans. Simply said – avoid looking for holiday loans!

So, the best way to look for a holiday loan is to actually look for loan offers based on your credit score. The best holiday loans are secured personal loans, which are loans of 5% to 35.99%. A payday loans is one with an APR of 400%. We highly recommend that you avoid these loans.

Company Amount Min Credit Score Loan Features

Bad Credit Loans

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$10,000 0 APR: 5.99% – 35.99%

Loan Term: 36-60 months

Time to Fund: 1 Day


Personal Loans

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$35,000 580 APR: 5.99% – 35.99%

Loan Term: 36-60 months

Time to Fund: 1 Day


Opp Loans

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$5,000 0 APR: 99% – 199%

Loan Term: 36-60 months

Time to Fund: 1 Day


Lending Tree

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$50,000 500 APR: 5.99% – 35.99%

Loan Term: 24-60 months

Time to Fund: 1 Day



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$35,000 640 APR: 5.99% – 24.99%

Loan Term: 24 – 60 months

Time to Fund: 1 – 7 Days



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$50,000 620 APR: 7% – 35.99%

Loan Term: 3 – 36 months

Time to Fund: 1 – 3 Days



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$50,000 600 APR: 7.99% – 35.97%

Loan Term: 36-60 months

Time to Fund: 1 Day

Upgrade Disclaimer:
Personal loans made through Upgrade feature APRs of 6.98%-35.89%. All personal loans have a 1.5% to 6% origination fee, which is deducted from the loan proceeds. Lowest rates require Autopay and paying off a portion of existing debt directly. For example, if you receive a $10,000 loan with a 36-month term and a 17.98% APR (which includes a 14.32% yearly interest rate and a 5% one-time origination fee), you would receive $9,500 in your account and would have a required monthly payment of $343.33. Over the life of the loan, your payments would total $12,359.97. The APR on your loan may be higher or lower and your loan offers may not have multiple term lengths available. Actual rate depends on credit score, credit usage history, loan term, and other factors. Late payments or subsequent charges and fees may increase the cost of your fixed rate loan. There is no fee or penalty for repaying a loan early. Personal loans issued by Upgrade’s lending partners. Information on Upgrade’s lending partners can be found at

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People with good and excellent credit can expect an APR of 5% to 10%, and we even know companies that offer a lower APR than 5%.

People with fair credit score can expect loans with an APR of about 10% to 20%.

People with bad credit score can expect loans with 20% to 35.99%. But it is NOT true that they can’t get installment personal loans. Payday lenders try to explain that with bad credit, they are your only option. That is not true. These days, the lending market is much more flexible and people with bad credit can get an unsecured personal loan easily and fast, and we will show you how.

For excellent, good and fair credit, the best holiday loan companies are PersonalLoans, LendingTree, Prosper.

For bad credit, the best companies are BadCreditLoans, OppLoansPersonalLoans, LendingTree.

What are Holiday Loans Actually?

After we reviewed more than 100 companies promoting them like quick holiday cash loans, we found that this means almost nothing. These are companies that try to promote themselves as holiday loans, but their terms are absolutely the same like their regular loans. That probably works for some of them because there are people who are looking for holiday loans fast. Almost all of these companies are payday loans that try to manipulate people into getting their offers, hoping to promote their business like the last option for people with bad credit. And if you go with them, you will make a mistake because payday loans are predatory, their APR is about 400% and they are NOT your last option even with bad credit. On our site, we give many better options. There are, of course, some legit secured personal loans companies who still try to promote their business for people looking for holiday cash online. We can’t say that this is scam, but this is nothing more than a blatant advertisement for the same offers that the lender would give you if you applied for their regular loans.

What Types of Holiday Loan Companies Can I Get?

Online secured installment personal loans.

Loans from credit union and banks.

Secured loans are a great option because they allow you to lower the APR and increase the money, but you risk your collateral. Secured loans are legit, but for holidays we recommend them only as the last resort.

Credit cards. It’s best to search for your credit cards based on your credit sore, not based on holiday credit cards!

Can I get holiday loans online with bad credit?

If you have bad credit, this means that you are a big risk for the lenders and the APR that you can expect will be high, probably over 20% to 35.99%. High, but not like payday loans APR, which is about 400%. People with bad credit have to carefully research for their best offers and find the best of them. Don’t believe that with bad credit payday loans are your last option. On our site, we listed some great companies which are much better than payday loans. And this should be the last time that you are looking for bad credit loans, so start working on your credit score now.

Holiday Cash Loans – The Scam Part!

We can’t say that holiday loans are all scam. Technically, this means nothing because you will find the same offer for other types of loans. The scam part comes when people are deceived by lenders that they offer some unique loans designed specifically for holidays. There is no such thing. Better search your best loans based on your credit score.

Another manipulation can be targeted at people looking for holiday loans with bad credit. In this case, chances to get scammed are higher because you are probably looking for fast cash, for lenders who approve fast, for loans that would not check your credit score. And that is exactly what payday loans offer, but this comes with an APR of 400%. Do you know that there are secured personal loans that offer fast approval, approve people with bad credit, and offer a much lower APR?

What Loans to Avoid?

Holiday payday loans. We highly recommend that you avoid them, because they are very expensive and there is a risk of a debt cycle.

Avoid loans that don’t perform a credit check. These lenders will tell you that they will give you money without checking your credit, but the reason for this is that they know very well that your credit is not okay and they will give you their scam offers.

Holiday loans near me. Again, another manipulation. 99% of the loans promoting themselves as ‘loan near me’, ‘local loans’, and so on, are payday loans. Technically, there is nothing bad in looking for ‘loans near me’, but that is a tactic that predatory lenders use to convince you to get a payday loan.

Be careful with advertisements like: quick loans, instant loan approval. These are only blatant promotions that payday lenders like to use. Technically, there is nothing bad with these terms, but it is about the manipulation. Almost every legit personal loan approves fast.

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