People with fair credit can get a personal loan. The expected APR is between 10% to 15%. Our lenders are the best, try them!

To find the best offer, use loan comparison sites. We list the best of them. When you apply, these sites send your details to all of the best lenders, banks, and credit unions. That way, you can find the best offer instantly.

Shop around! ElitePersonalFinance found the best personal loans for fair credit of December 2025!

Best Personal Loan Rates for Fair Credit of December 2025

Too often, borrowers with scores between 580 and 669 (fair credit) think they have limited borrowing options with exceptionally high APRs and inflexible repayment terms. Whether you’re looking to cover a $2,500 emergency expense or consolidate $20,000 in debt, understand that you have plenty of options available from legit online lenders like Upgrade and Upstart to lending networks like SuperMoney and MoneyMutual.

Why Should I Trust ElitePersonalFinance

At ElitePersonalFinance, we’re all about transparency when it comes to the best personal loans for fair credit. No longer do you have to trust storefront payday lenders. Instead, turn to top options like SuperMoney, Upgrade, Upstart, MoneyMutual, and PickALender, which offer competitive APRs, flexible repayment terms, and pre-qualification and funding as early as the same day.

Keep reading to learn more about the best personal loans for fair credit, including our top recommended lenders, when you should choose a bank over a credit union, the pros and cons of fair credit lenders, and much more. Let’s put you on your way to navigate fair credit financing safely and effectively.

SuperMoney

Easily our favorite loan comparison platform on the market, SuperMoney offers fair credit borrowers with all types of credit opportunities, including personal loans, as well as consolidation and refinancing. It works as a marketplace connecting users with personalized loan options worth up to $100,000, all with a simple soft-credit inquiry.

Through the platform, SuperMoney allows all users to compare multiple loan offers side by side in one place, including APRs, terms, and estimated monthly payments. With no pre-qualification fees or obligations, checking is virtually risk-free.

What We Like:

• Loan amounts up to $100,000
• APRs from 7.99% to 35.99%
• Side-by-side comparisons re: APRs, terms, and fees
• Soft inquiry upon pre-qualification
• No fees or hidden costs

What We Don’t Like:

• Not a direct lender
• Each participating lender has varying rates and terms
• No in-person locations or phone support
• Approval depends on third-party lenders

Eligibility & Next Steps:

• Must be 18 years of age or older
• US citizen or permanent resident
• Fair credit score (580+) recommended
• Pre-qualification through the SuperMoney portal

Terms: SuperMoney is a comparison marketplace that lets borrowers with fair credit compare offers from banks, credit unions, and online lenders in one place. It does not directly fund or service any loans, and approval is not guaranteed. Actual rates depend on your credit score, income, and the type of loan program you choose. Borrowers with lower credit scores may see higher interest rates or additional requirements. Always read your official loan estimate before signing the contract.

Upgrade

In business since 2017, with more than $40B issued in loans to date, another viable option for fair credit personal loans is Upgrade, an online lender offering loans from $1,000 to $50,000 with no prepayment penalties and fast approvals within 24 hours. Fixed APRs range from 8.49% to 35.99%, with repayment terms of 24 to 84 months.

For prospective fair credit borrowers on Upgrade, a 10% APR $10,000 loan over 36 months could cost roughly $323 a month. However, one knock on Upgrade is that it can charge origination fees of 1.85% to 9.99% (depending on the lender). With a 2% origination fee, that $10,000 loan becomes $9,800.

All in all, more than 7MM customers and $40B+ borrowed with 50K+ average 4.5-star Trustpilot reviews make Upgrade one of the better lending options out there for fair credit borrowers.

What We Like:

• APRs between 8.49% and 35.99%
• Repayment terms ranging from 24 to 84 months
• Includes free credit monitoring
• Intuitive dashboard for tracking payments
• 50K+ positive Trustpilot reviews

What We Don’t Like:

• Origination fees of up to 9.99%
• No joint or co-signer loans available
• Not the most options for small loans under $1,000
• Slow customer support response times at peak periods

Eligibility & Next Steps:

• Must be 18 years of age or older (19 in Alabama and Nebraska)
• US citizen or permanent resident
• Valid Social Security number, regular source of income, and checking account
• A minimum credit score of 580 is required
• Pre-qualification form through the Upgrade portal

Terms: Upgrade offers personal loans for borrowers with fair credit. It provides loan amounts ranging from $1,000 to $50,000 with fixed APRs between 8.49% and 35.99% and repayment terms from 24 to 84 months, with no prepayment penalties. The lender may charge origination fees from 1.85% to 9.99%, which are deducted from your loan proceeds. The actual rates depend on your credit score, income, and the type of loan program you choose. Always read your official loan estimate before signing the contract.

Upstart

For one of the best AI-based underwriting platforms in the market, look no further than Upstart. It’s popular to use unconventional criteria to evaluate eligibility, such as education, employment history, and income, an excellent choice for people who fail to qualify elsewhere and want to check rates in as little as five minutes.

Loan amounts on Upstart go from $1,000 to $75,000, with APRs between 6.7% and 35.99%, with funding to your bank account as early as the next business day. Like Upgrade, it may also charge origination fees, depending on the lender.

Plus, Upstart has stellar Trustpilot reviews with an average rating of 4.9 across more than 57K reviews as of this writing, with overwhelmingly positive feedback on everything from the platform’s user-friendliness to loan transparency.

What We Like:

• Over 3 million customers to date
• Loans from $1,000 to $75,000
• Fixed APRs from 6.7% to 35.99%
• 65% of Upstart customers receive funds within 24 hours
• Average 4.9-star rating across more than 57,000 reviews on Trustpilot
• Rates in as little as 5 minutes

What We Don’t Like:

• Repayment limited to 3 or 5-year terms
• Minimum credit score of 600 required
• Origination fees can reach 8.53%
• Minimum loan amounts vary by state (e.g., $7,000 in Massachusetts)

Eligibility & Next Steps:

• 18 years of age or older
• US citizen or permanent resident
• Valid Social Security number and checking account
• Minimum verifiable annual income of $12,000
• Pre-qualification form through the Upstart portal

Terms: Upstart offers personal loans for borrowers with fair credit. It offers loan amounts from $1,000 to $75,000 with fixed APRs between 6.7% and 35.99%, along with repayment terms of three or five years. Upstart may charge origination fees that can reach 8.53%, depending on the lender. Actual rates depend on your credit score, income, and the type of loan program you choose. Always read your official loan estimate before signing the contract.

MoneyMutual

One of the oldest and most recognized online loan marketplaces, MoneyMutual has helped millions of users with fair or bad credit secure a variety of short-term and personal loans to cover everyday expenses, from unexpected medical bills to past-due business invoices. Its extensive network includes hundreds of lenders who can fund loans of up to $5,000, often within 24 hours, with applications taking just minutes.

Note: MoneyMutual is not a direct lender but an online marketplace that lets you shop for loans of up to $5,000 using a single application that connects to multiple lenders. Plus, there’s no impact on your credit score for checking eligibility.

What We Like:

• More than 2MM customers to date
• Loans up to $5,000
• Member of the Online Lenders Alliance (OLA)
• Funds in as little as 24 hours
• Insightful loan fee and repayment guide on the website

What We Don’t Like:

• Not a direct lender
• No guarantee of loan approval
• Borrowers have no upfront access to rates or repayment schedules
• Not available to Connecticut and New York residents

Eligibility & Next Steps:

• 18 years of age or older
• US citizen or permanent resident
• $800 in minimum monthly income
• Valid checking account, phone number, and email address
• Completed online application through MoneyMutual

Terms: MoneyMutual is an online loan marketplace that helps borrowers with fair credit find loans matching their credit profile.  Partner lenders may offer loan amounts up to $5,000 with APRs up to 35.99%, with funding available within 24 hours. Rates and terms vary by lender. MoneyMutual is not a direct lender, and final loan terms, including APR, fees, and repayment terms, depend on the lender you choose. Always read your official loan estimate before signing the contract.

PickALender

For a clean, mobile-friendly marketplace, trying out Overland Park, Kansas-based PickALender is worth a shot. It’s a nationwide marketplace of lenders that allows you to find anywhere from $100 to $40,000, with fixed APRs from 7.99% to 35.99%, within range for fair credit borrowers.

Note: PickALender is not a direct lender but an online platform that lets you compare dozens of direct lenders side by side and pre-qualify in minutes, with offers sorted by rate, repayment terms, and other loan details.

If you’re looking for reliable personal loan options online without extra frills (e.g., dedicated customer phone support), then PickALender is a safe bet.

What We Like:

• Loans up to $50,000
• Fixed APRs from 7.99% to 35.99%
• Member of the Online Lenders Alliance (OLA)
• Sorted offers by rate or repayment terms

What We Don’t Like:

• Most only qualify for loans of $100-$2,500
• Higher-than-average interest rates from tribal lenders
• No guarantee of loan approval
• Personal data may be shared or sold multiple times to lenders
• Cluttered and not-so-intuitive website

Eligibility & Next Steps:

• 18 years of age or older
• US citizen or permanent resident
• Valid Social Security number
• Steady income & active checking account
• Completed online application through PickALender

Terms: PickALender is an online marketplace that helps borrowers with fair credit find loans matching their credit profile. Partner lenders may offer loan amounts ranging from $100 to $40,000 with fixed APRs from 7.99% to 35.99%, with funding available within 24 hours. Rates and terms vary by lender. PickALender is not a direct lender, and final loan terms, including APR, fees, and repayment terms, depend on the lender you choose. Always read your official loan estimate before signing the contract.

What Is Fair Credit?

Fair credit refers to anyone with a FICO score between 580 and 669, which puts you between poor and good credit. This profile has several notable attributes, including a few late payments on your record or a credit utilization ratio above 60%. This might not be the best credit score, but you can still qualify with many legit lenders.

Thankfully, there are options like Upgrade, Upstart, HappyMoney, LendingPoint, and marketplaces like SuperMoney that can help you compare APRs, fees, repayment terms, and the total cost of borrowing across different lenders.

In terms of APR, you can expect to pay between 10% and 25% depending on the lender and type of loan. These rates are much better than the predatory rates charged by storefront payday lenders or some online lenders, which can reach 300% APR or more. Note, there’s always the opportunity to boost your credit score by making on-time monthly payments, lowering your credit utilization ratio, and diversifying your credit mix, which is another FICO best practice, so that you eventually go into good to excellent credit territory.

Can I Get a Personal Loan With Fair Credit?

Yes, it is possible to get a loan with fair credit. You don’t have to rely on high-cost alternatives and go with platforms like Upstart, which use your education, employment stability, and dozens of other data points to determine your eligibility, versus LendingPoint’s tendency to focus on bank account cash flow.

Plus, online marketplaces like SuperMoney allow you to pull competitive rate quotes from multiple lenders, where you can evaluate APR ranges, fees, and repayment terms side by side, so that you make an informed decision.

How to Qualify for a Personal Loan With Fair Credit?

Here are all the steps you can take to qualify for a personal loan with fair credit:

Clean Up Your Credit Report

Before you submit any credit application, we highly recommend that you clean up your credit report by checking and disputing errors. Tons of errors can appear on your report from duplicated medical collections to incorrect account balances, which can drop your score by as much as 100 points.

Visit AnnualCreditReport.com and download all three bureau reports, carefully reviewing each one to check for inaccuracies. Even if you remove an erroneous collection activity from your account, you can raise your score from 590 to 650, which instantly allows you to enjoy higher APRs from legit lenders like Upgrade, LendingPoint, and Best Egg.

Lower Credit Utilization Below 30%

One of the most significant factors in your FICO score is credit utilization, which accounts for 30% of your record. Typically, fair credit borrowers have utilization rates of 40% to 60%. One of the best strategies for reducing your utilization is to pay down your revolving balances at least 2 days before the statement closes, not on the actual payment due date, so that lower balances are reported to Equifax, Experian, or TransUnion.

For example, it’s not uncommon to see your score boost by as high as 50 points by dropping your utilization ratio from 70% to 30%.

Get Documentation in Check

In addition to your credit score, fair credit lenders look at your income stability, which means showing consistent earnings for six to 12 months can improve your approval odds. They also consider bank statements and even tax returns. If you’re self-employed, you may be asked to provide profit-and-loss statements and an IRS transcript to prove your income.

Look Into Co-Borrowing or AI Underwriting

One of the easiest ways to qualify for lower APRs with fair credit is to add a co-borrower to your account. PNC, Citizens Bank, and FreedomPlus all have co-borrowing programs that let you cut your APR by as much as 8%, saving you hundreds of dollars over the life of a $10,000 loan.

If you do not know a good co-borrower, you should explore Upstart. This AI-driven firm evaluates your eligibility based on employment and education rather than just your credit. You may have strong financial habits, like a high income, which you can leverage and counter any bad credit.

Avoid Hard Inquiries

It’s essential to avoid hard inquiries to avoid a temporary drop of five to 10 points in your score. Instead, we highly recommend using pre-qualification tools from leading sites like Upstart, Upgrade, Best Egg, LendingPoint, and PickALender, which also provide estimated APRs, terms, and loan amounts without affecting your score.

Keep in mind the 14-day rate-shopping window when shopping for loans, where multiple hard inquiries are combined into a single inquiry.

Look Into a Credit Builder or Secured Loan

Low FICO scorers in ~580 territory may want to consider taking out a credit builder loan from leading institutions like Navy Federal, DCU, PenFed, and First Tech, which allow you to take small dollar amounts with an on-time payment history reported to credit bureaus. From there, you can graduate to improved personal loan options with lower APRs.

Consider taking out a secured loan that uses your vehicle, savings, or a certificate of deposit as collateral, allowing you to continue earning interest on your deposit.

Improve Debt-to-Income Ratio

One of the most critical evaluation criteria lenders consider is your debt-to-income ratio. Try to keep it under 40%, though AI-driven platforms like Upstart may give you a reprieve depending on your cash flow history. You can do several things to lower your DTI, including refinancing, taking out 0% balance transfer credit cards, and paying down revolving debt.

Remember, the lower your debt-to-income ratio, the stronger your approval odds are.

Quick Tips to Increase Your Chances of Getting a Loan With Fair Credit

Here are our top five strategies on how to increase your chances of getting a loan with fair credit:

Clean Your Credit Report

Before applying for any fair credit personal loan, we highly recommend visiting AnnualCreditReport.com and pulling your Experian, Equifax, and TransUnion credit reports at least every six months to check for any outdated or inaccurate information, even when an incorrect payment can drop your score by as much as 40 points.

Some inaccurate information you may discover includes outdated accounts, incorrect balances, erroneous late payments, and even identity errors, such as similar names or shared addresses tied to another person’s debt appearing on your report.

It’s not uncommon for borrowers to find an old medical collection incorrectly reported. Successful disputes can easily raise your credit score from 593 to 630, opening you up to improved loan offers from recommended lenders like SuperMoney and Upgrade.

Watch Your Credit Utilization

One of the most critical factors in your credit score is your credit utilization ratio, which is the percentage of available credit you’re using. Try to keep utilization below 30% by following best practices, such as paying off small balances across multiple cards, requesting a credit limit increase, and taking advantage of balance transfer offers to move debt from one card to another.

For example, if you have three credit cards with $6,000 in combined limits and spend $4,000 on a single day, that’s a 67% utilization ratio. Paying off a quick $1,200 can lower your utilization to 47% and raise your FICO score by roughly 30 points within 30 days. This simple activity can help you receive new pre-qualified loan offers that are, on average, several percentage points cheaper, helping you save hundreds of dollars every month on a $10,000 loan.

Add a Co-Borrower or Use a Credit Union

One of the best ways for fair credit borrowers to get a leg up is to add a cosigner with good credit to the loan. This reduces the lender’s absorbed risk and increases your odds of approval.

Plus, some lenders even report on-time payments to your credit bureaus, which will allow you to take advantage of better loan opportunities from sites like Upgrade or SuperMoney.

Consider AI Underwriting

Alternative options like Upstart allow you to be judged beyond your FICO score, considering education, employment, and cash deposit consistency, which is especially beneficial for those without long credit histories. For example, a strong employment record could qualify you for a 12% APR, $7,500 loan, with funds disbursed to your bank account by the next business day, a benefit that traditional banks cannot match.

Other reasonable options include small-dollar loans up to $5,000 from MoneyMutual or PickALender, which allow you to assess loan offers from dozens of choices with a single application.

Try Out Credit Builder Loans

One of the best ways to improve your chances of getting a loan is to take out a credit builder loan or a secured credit card beforehand. These allow you to rebuild your credit with on-time monthly payments and positive activity reported to Experian, Equifax, and TransUnion.

For example, you can easily open a $500 credit builder loan through a local credit union and make a year’s worth $50 on-time payments, allowing your FICO score to go up as much as 100 points. If you were to take that performance and reapply for a 13.99% APR $10,000 personal loan through SuperMoney, you could save hundreds of dollars in interest on an initial 26% APR quote before taking out the credit builder loan.

Don’t Apply to Too Many Lenders Within a Short Period

Credit bureaus view negatively applying to too many lenders within a short period. Each hard inquiry could drop your score by as much as 10 points, so we recommend using soft-inquiry pre-qualification tools from legit lenders like Upstart.

Keep in mind that multiple loan applications within 14 days are treated as a single inquiry (as long as they’re for the same loan type, e.g., personal loans), which allows you to rate shop comfortably.

All in all, cleaning your credit report, watching your credit utilization, considering AI underwriting, trying out credit builder loans, and not applying to too many lenders within a short period could increase your chances of getting a loan with fair credit.

Can I Get a Personal Loan From a Credit Union or a Bank With Fair Credit?

Yes, it is possible to get a personal loan from a credit union or a bank with fair credit.

Suppose you have fair credit with a credit score between 580 and 669. In that case, you have to understand that credit unions focus on relationship-based lending, which means you’re evaluated on criteria outside your credit score, including positive direct deposit history.

At the same time, banks have stricter underwriting criteria than credit unions, requiring higher FICO scores and income. Although it’s not impossible to secure a loan with fair credit, APRs will be higher than average.

Although it’s best to compare multiple sources, such as banks, credit unions, and online marketplaces, fair credit borrowers are likely to have the best chances of securing loans from online lenders like Upgrade and Upstart, which offer faster underwriting and flexible repayment terms. Plus, you’re able to explore dozens of lenders at the same time at online marketplaces like SuperMoney, MoneyMutual, and PickALender.

Where to Find Legitimate Personal Loans?

Here are three of our favorite recommendations on how to find legit personal loans:

Rely on Online Marketplaces

Marketplaces like SuperMoney, MoneyMutual, and PickALender allow you to see side-by-side comparisons of competitive loan offers from banks, credit unions, and online lenders in a single shot.

They also perform a soft inquiry so you can see all loan terms, including estimated APRs, terms, and fees, without any drop in your score. For fair credit applicants seeking rapid pre-qualification, this is a welcomed approach.

Consider Online Lenders

If you’re looking for legitimate personal loans, then direct online lenders like Upgrade and Upstart fit the bill. They’re known for their flexible repayment terms, competitive fixed APRs, and transparent underwriting, with funding as quickly as the same day. To understand real costs up front, these lenders are more than happy to provide loan examples, fee breakdowns, and pre-qualification tools to help you get there.

Plus, we’re huge fans of Upstart’s AI underwriting, which allows you to qualify for fair credit loans based on your education, employment history, and cash flow behavior. At the same time, Upgrade offers a more holistic approach, with built-in financial tools to help you get up to speed on your financial health, making it a borrower-friendly alternative to banks and credit unions.

Don’t Give Up on Credit Unions and Traditional Banks

Try not to overlook credit unions and banks. They often offer lower APRs than online lenders, with relationship-based and auto-pay discounts available. Plus, they also have better in-person support and a dedicated loan specialist who can walk you through your application. Three of our recommendations, PenFed, Alliant, Navy Federal, and First Tech, I highly recommend in this area.

Plus, they offer several credit-builder loan secured personal loans, or co-applicant loans that can help you enjoy slightly lower APRs.

Look into State and Community Programs

Nowadays, there’s no shortage of state-sponsored lending programs that are not perfect, but can give you lower APRs than traditional payday lenders, particularly with small-dollar loans and hardship loans. For example, we are big fans of CDFIs like Capital Good Fund, Justine Petersen, and Self-Help Credit Union, which also offer financial counseling to help you get back on your feet.

Verify Licensing

We recommend that you check if your lender is appropriately licensed to operate in your state. They should have several credentials in place, including an NMLS (Nationwide Multistate Licensing System) ID and a physical address. Nowadays, there are plenty of payday loan scammers who do not have physical addresses or make them up.

Plus, we’re advocates of checking third-party review platforms like the Better Business Bureau (BBB), Trustpilot, and ConsumerAffairs so you can understand what consumers are saying about everything from processing to customer service. Not to mention, it’s also an excellent place to learn if a lender is transparent.

How We Picked These Lenders

To craft this research guide, we selected the very best recommendations for fair credit Borrowers by considering several key criteria, including but not limited to APR structures, approval flexibility, consumer protections, loan amount range, and overall customer experience and ease of use.
Let’s go over these in greater detail:

APR Structure and Reputation

All of our recommended lenders clearly disclose their APR ranges and repayment terms before you apply. Three excellent examples are SuperMoney, MoneyMutual, and PickALender, with side-by-side comparisons so you can automatically filter out lenders that do not meet your personal criteria. For fair credit borrowers who may already face higher rates, this is a must.

Plus, we considered thousands of verified customer reviews and third-party feedback from leading sites like Trustpilot and the Better Business Bureau to ensure we’re only delivering recommendations that favor borrowers. For example, Upgrade has earned more than 50,000 positive Trustpilot reviews, and Upstart has comparable performance, which offers added credibility to these institutions.

Approval Flexibility and Funding Speed

Our preference goes to lenders like SuperMoney, Upgrade, Upstart, MoneyMutual, and PickALender, which all perform soft inquiries during the pre-qualification process so that your credit score is not affected too much.

Plus, we also considered flexible underwriting standards that factor in additional eligibility criteria beyond your credit score, such as high income, cash flow, and regular employment. That’s why we’re big fans of Upstart and its AI underwriting model, which uses dozens of data points to calculate where you stand. That is fair if you have had difficulty qualifying for traditional loans from banks or credit unions.

Let’s not forget about funding speed. Platforms like MoneyMutual, Upgrade, and Upstart can send these initial funds to your bank account by the next business day, which is a must if you need quick emergency cash to handle life’s unexpected expenses.

Consumer Protections

All of our lenders comply with the Truth in Lending Act (TILA) and go the extra mile by enrolling in Online Lenders Alliance (OLA), a consumer best-practices organization that ensures its members are only lenders, not unregulated institutions.

Plus, we also check for data security protocols. Your personally identifiable information, such as your Social Security number and bank account details, should be protected by leading industry-standard security protocols, including encryption and secure application portals. For example, Upgrade and Upstart use bank-level encryption for all transactions.

Loan Amount Range

Whether you need $500 for an emergency or $20,000 to consolidate your debt, all of our recommended lenders offer fair credit borrowers the opportunity to enjoy broad loan ranges. For example, MoneyMutual offers smaller loans up to $5,000, while Upgrade and Upstart offer loans up to $50,000.

At the same time, we’re big fans of repayment flexibility, with short-, medium-, and long-term options available so you can manage a flexible monthly budget.

Customer Experience & Ease of Use

All of our recommended lenders emphasize customer service from the initial application all the way to the disbursement of funds. Plus, comparison websites like SuperMoney offer intuitive interfaces that make it easy to compare lenders side by side on APR ranges, repayment terms, fees, and total borrowing costs, so you fully understand your options.

Plus, customer support is a must. For example, Upgrade and Upstart offer a wide range of financial tools and dedicated support resources, along with answers to the most frequently asked questions on how to manage your debt, a nice-to-have versus predatory payday lenders that offer minimal guidance.

Qualification Criteria

We’re all about low barriers to entry when it comes to the best personal loan rates for fair credit. Borrowers with scores between 580 and 669 should be able to qualify based on factors outside their credit score, such as education, job history, and monthly cash flow.

Even borrowers with shorter employment histories or gig-economy earnings can benefit from these online marketplaces and lenders, with stricter underwriting institutions imposing unrealistic minimum monthly income or extensive job history requirements, making it hard to find a loan.

All in all, APR structures, approval flexibility, consumer protections, and loan amount range are only a few of the many criteria used to assemble our top guide to the best personal loan rates for fair credit.

Frequently Asked Questions

What are the best personal loan rates for fair credit?

If you have a FICO credit score of 580 to 669, you have fair credit, which may call for an APR of 25% depending on the type of loan. If you want the best possible rates, we recommend using aggregators like SuperMoney, which let you compare competitive loan offers side by side within your bracket.

Which lenders approve fair credit borrowers easily?

Online lenders such as Upgrade and Upstart are known for their flexible underwriting and higher-than-average approval rates for fair credit borrowers. One reason is AI-based underwriting, which allows you to qualify based on factors beyond your credit score, such as your employment history and cash flow.

Does fair credit qualify for a personal loan?

Yes, fair credit borrowers can take advantage of personal loans. One of the go-to places for fair-credit loans is online lenders and marketplaces that accept applicants with scores as low as 580. That’s why we highly recommend platforms like SuperMoney, Upgrade, and Upstart.

How can I get a lower APR with fair credit?

One of the best ways to get a lower APR if you have fair credit is to strengthen your credit score as much as possible. Tactics include lowering your credit utilization ratio, disputing credit reporting errors, and not opening an account right before your due date for an application.

Is SuperMoney good for comparing fair credit loan offers?

We highly recommend SuperMoney to get the most competitive rate offers on fair credit loans. It aggregates offers from hundreds of direct lenders willing to match others on APRs, repayment terms, and even estimated monthly payments. You only need a soft credit check to get started.

Does Upgrade or Upstart give better rates for fair credit?

Upgrade and Upstart both serve fair-credit borrowers, but the APR you are ultimately qualified for depends on your credit profile. Expect the Upstart AI model to favor non-traditional scoring, whereas Upgrade focuses more on your income and cash flow. We also love them because they provide funding within one day.

Can I get a loan with fair credit and no hard inquiry?

Yes, lenders like Upgrade and Upstart do an excellent job of providing pre-qualified loan offers without a hard inquiry. These soft credit checks show you estimated APRs and loan amounts you qualify for, without dinging your credit score.

How fast can I get funded with fair credit?

You can expect loans to be funded in as little as 24 hours. Many lenders in MoneyMutual’s network offer funding on the same day if you submit your application before the daily cutoff time.

Do origination fees affect fair credit loan rates?

If you’re going for an online marketplace, then some lenders will assess origination fees. For example, Upgrade and Upstart may charge origination fees up to 9.99% depending on your credit. That means that a 5% origination fee on a $10,000 loan results in a disbursement of $9,500 after deductions, so we always recommend that you factor in both APR and origination fees when comparing loan offers.

Are online lenders better than banks for fair credit?

We highly recommend online lenders over banks for fair credit, as they offer more flexible underwriting criteria and same-day approvals. In turn, banks will require higher credit scores and a more extensive credit history, which could make the application process more difficult. That’s why we’ve exclusively selected top, legit lenders like Upgrade, Upstart, MoneyMutual, and PickALender that meet the needs of fair credit Borrowers.

Conclusion

At the end of the day, getting the best personal loan rates for fair credit doesn’t mean you have to be penalized for lax credit habits with exorbitant APRs. Now there’s no shortage of legit borrower-friendly options to choose from, including SuperMoney, Upgrade, Upstart, MoneyMutual, and PickALender, which are the anti-payday lenders with no hidden fees, traps, or endless rollover cycles that can put you in debt territory.

From AI-driven underwriting (Upstart) to budget-friendly dashboards (Upgrade), excellent options will always be for the taking.