Best Loans for Really Bad Credit 2020

People with really bad credit have options to get a loan. But be careful! These loans are expensive.

ElitePersonalFinance highly recommend that you try some of these options before applying for really bad credit loan:

    Apply for a personal loan. Many people with bad credit think that they have no chances to get approved, but they are wrong. Check our list of personal loans for bad credit and apply with all of them. Try, you lose nothing. You should also read our guide on bad credit loans.

    Try loan comparison sites. SuperMoney and Credible are the best of them. Register with them and they will match you with all lenders in their networks. They work with all big lenders in America. It’s 100% free.

    Try secured or cosigner loans.

    Try alternative payday loans. You should also read our guide on alternative payday loans.

    Wait and work on your credit score, if that is possible. Review your credit report for errors. Many credit reportscontain errors. If you find any, report them instantly and your credit score will boost in less than a month.

    Banks don’t approve people with bad credit, don’t waste time. However credit unions approve people with bad credit? Their APR is capped at 18%, which is not bad at all. Some credit unions have payday loan alternatives, capped at 28%. Review our list of credit unions >>

    Ask for a cash advance from your work place.

    Ask for a cash advance from your work place.

    Try loan apps. Review our list of loan apps>>

ElitePersonalFinance found the best loans for really bad credit 2020!

1101 Reviews
Amount

$100 - $5,000

Min Credit Score

0

APR

Vary

Approval

< 1 Day

Terms

1 - 36 months

1247 Reviews
Amount

$100 - $5,000

Min Credit Score

0

APR

Vary

Approval

< 1 Day

Terms

1 - 36 months

Amount

$100 – $10,000

Min Credit Score

0

APR

Vary

Approval

< 1 Day

Terms

1 – 60 Months

Amount

$100 – $40,000

Min Credit Score

0

APR

Vary

Approval

< 1 Day

Terms

1 – 60 Months

Amount

$100 – $40,000

Min Credit Score

0

APR

Vary

Approval

< 1 Day

Terms

1 – 60 Months

Amount

$100 - $35,000

Min Credit Score

0

APR

5.99% - 35.99%

Approval

< 1 Day

Terms

1 - 72 Months

Amount

$100 - $35,000

Min Credit Score

0

APR

Vary

Approval

< 1 Day

Terms

1 - 72 Months

Amount

$100 - $40,000

Min Credit Score

0

APR

Vary

Approval

< 1 Day

Terms

1 - 60 Months

Amount

$100 - $15,000

Min Credit Score

0

APR

5.99% - 35.99%

Approval

< 1 Day

Terms

6 - 72 Months

Amount

$100 - $40,000

Min Credit Score

0

APR

Vary

Approval

< 1 Day

Terms

1 – 60 Months

Amount

$100 - $35,000

Min Credit Score

0

APR

5.99% - 35.99%

Approval

< 1 Day

Terms

6 - 72 Months

Amount

$100 - $35,000

Min Credit Score

0

APR

5.99% - 35.99%

Approval

< 1 Day

Terms

6 - 72 Months

1978 Reviews
Amount

$100 – $1,000

Min Credit Score 0 APR

Vary By State

Approval

< 1 Day

Terms

7 days - 12 months

Get started

Chosen 32589 times

No Credit Check
More Information
Customer type:
All
Borrow up to:
1,000 $
Low credit score:

Weekend payout:

Credit check:
No
Age:
18
From 1978 Reviews
Interest Costs
Flexibility Terms
Website Functionality
Support Service
1370 Reviews
Amount

$500 – $10,000

Min Credit Score

0

APR

5.99% – 35.99%

Approval

< 1 Day

Terms

3 – 36 Months

Get started

Chosen 30431 times

Really Bad Credit
More Information
Customer type:
All
Borrow up to:
5,000 $
Low credit score:

Weekend payout:

Credit check:
Soft
Age:
18
From 1370 Reviews
Interest Costs
Flexibility Terms
Website Functionality
Support Service

When we talk about bad credit loans, BadCreditLoans.com should always be at the top of our list! And there is a good reason for that.  BadCreditLoans have helped millions to get personal loan, while so many people are still paying insane interest on their payday loans. BadCreditLoans.com is a leading company helping people with really bad credit. They are NOT payday loan company!They are huge marketplace connecting people with bad credit with lenders offering UNSECURED bad credit loans. The company offer loans of $500 to $5,000, APR 5.99% to 35.99%. And bad credit is always approved ... in less than a day. In fact this is the most successful personal loans company for bad credit that we at ElitePersonalFinance know. Whether you want to get bad credit loan or refinance your existing payday loans with one cheaper loan, try BadCreditLoans.com .

Pros:
  • The Best in The Bad Credit Business!
  • Easy and fast approval.
  • Unsecured loans.
  • Those with really bad credit get approved.
  • APRs in the personal loan range which means less than 5.99% to 35.99%.
  • Not a payday loan company.
  • Amount of up to $5,000.
  • Huge lending network.
  • Free to register and no obligation to accept any offer.
  • Minimum credit score required is 0.
  • No hard inquiry on your credit score, so registering won't lower your credit score.
Cons:
  • For those with really bad credit, expect high APRs ranging from 15% to 35.99%.
  • People with really bad credit can’t qualify for the highest amount of $5,000, they can expect up to $1,500.
  • Not all loans get approved.
Best for: Really Bad Credit

Best Loans for Really Bad Credit 2020

BadCreditLoans

$500 – $10,000

Min Credit Score: 0

< 1 Day Approval

Apply Now

CashUSA

$1,000 – $10,000

Min Credit Score: 0

24 - 60 months

Apply Now

LendJetFunds

$100 – $10,000

Min Credit Score: 0

1 – 60 Months

Apply Now

SignatureLoans

$1,000 – $35,000

Min Credit Score: 0

2 - 5 Years

Apply Now

Personal Loans

$1,000 – $35,000

Min Credit Score: 580

36 - 72 month

Apply Now

If your credit score is really bad and you can’t qualify for a none of these, there are other options. These loans are more expensive, but the approval rate is high.

1156 Reviews
Amount

$1,000 – $10,000

Min Credit Score

0

APR

5.99% – 35.99%

Approval

< 1 Day

Terms

2 – 5 Years

Get started

Chosen 13989 times

High Approval Rate
More Information
Customer type:
All
Borrow up to:
10,000 $
Low credit score:

Weekend payout:

Credit check:
Soft
Age:
18
From 1156 Reviews
Interest Costs
Flexibility Terms
Website Functionality
Support Service

Designed specifically for those with bad credit, CashUSA offers installment secured personal loans for people with bad credit. APRs range from 5.99% to 35.99%, but even if you have bad credit, putting a collateral to your loan can lower the APR as low as 10%. CashUSA offers loans up to $10,000, but – according to their website – the amount can be increased under certain conditions. But remember, if you fall behind on your payments, there is a chance you could lose your car. We only recommend secured loans if you’re sure you can repay the debt on-time and in-full.

Pros:
  • Easy approval.
  • Those with really bad credit can still be approved.
  • The company applies personal loan APRs ranging from 5.99% to 35.99%.
  • People with bad credit get as low as 10% APR.
  • Borrowing amounts can exceed $10,000, but you have to speak with them directly.
Cons:
  • Secured loans put you at risk of losing your collateral.
  • Bad credit means a higher APR; although it’s still much lower than a traditional car title loan.
Best for: Secured Personal Loans
2690 Reviews
Amount

$1,000 – $35,000

Min Credit Score

580

APR

5.99% – 35.99%

Approval

< 1 Day

Terms

90 Days – 72 Months

Get started

Chosen 25087 times

Customer type:
All
Borrow up to:
35,000 $
Low credit score:

Weekend payout:

Credit check:
Soft
Age:
18
From 2690 Reviews
Interest Costs
Flexibility Terms
Website Functionality
Support Service

PersonalLoans offers unsecured loans ranging from $1,000 to $35,000, and because the company only requires a minimum credit score of 580, PersonalLoans is a great place to obtain a bad credit loan. Its APRs range from 5.99% to 35.99%, but to qualify, you need to have some form of recurring income. It can be full-time employment, self-employment, regular disability or Social Security benefits. Keep in mind though, loans are not available to residents in Arkansas, Georgia or New York.

Pros:
  • Low credit score requirements of 580.
  • Low income requirement of $1,000.
  • Bad credit is ok.
  • Highest amount allowed is $35,000.
  • Available in many states.
Cons:
  • People with really bad credit can’t apply.
  • You can’t have an account with a late payment for longer than 60 days or a recent bankruptcy.
  • You can’t have any recent charge-offs or late payments.
Best for: Bad Credit
2089 Reviews
Amount

$1,000 – $35,000

Min Credit Score

0

APR

5.99% – 35.99%

Approval

< 1 Day

Terms

2 – 5 Years

Get started

Chosen 20903 times

Co Signer Loan
More Information
Customer type:
All
Borrow up to:
35,000 $
Low credit score:

Weekend payout:

Credit check:
Soft
Age:
18
From 2089 Reviews
Interest Costs
Flexibility Terms
Website Functionality
Support Service

Offering loans to borrowers of all credit scores, SignatureLoan provides reliable financing in as little as five minutes. Loans range from $1,000 to $35,000, but large amounts are usually only accessible to those with high credit scores. Its APRs range from 5.99% to 35.99%, but loans are not available to residents in the state of Maine. As well, you must have a minimum monthly income of $1,100 to qualify. The application process is quick and easy, and through its e-signature feature, you can even receive funding without mailing in any physical paperwork.

Pros:
  • Low credit score requirements of 0.
  • Bad credit is ok.
  • Highest amount allowed is $35,000.
Cons:
  • People with really bad credit can’t apply.
  • Risk to lose your partnership.
Best for Co-signer Loans
1450 Reviews
Amount

$1,000 – $5,000

Min Credit Score

0

APR

Vary By State

Approval

< 1 Day

Terms

9 – 36 Months

Get started

Chosen 10351 times

Alternative Payday Loan
More Information
Customer type:
All
Borrow up to:
5,000 $
Low credit score:

Weekend payout:

Credit check:
No
Age:
18
From 1450 Reviews
Interest Costs
Flexibility Terms
Website Functionality
Support Service

For those with really bad credit, who can't quality for a personal loan, we recommend alternative payday loans. These companies are more expensive than personal loans, but much more better than payday loans. The company offers loan amounts that range from $1,000 to $5,000, with APRs that range from 99% to 199%. Loan duration range from 9 months to 36 months and Opploans charges zero prepayment penalties. Their loans are unsecured – which means no upfront collateral is required – and as you continue to make on-time payments, you build your credit score in the process. Moreover, if your loan is approved, you can receive funds in as little as one business day.

Pros:
  • Easy approval process.
  • Those with very bad credit can still get approved.
  • Opploans offers installment loans and lines of credit.
  • Opploans does not check your credit score but will assess your financial transaction history.
  • Loans are unsecured and do not require any collateral.
  • There are no prepayment penalties.
  • Opploans offers refinancing options to select borrowers.
  • Alternative loan sites like Opploans have lower APRs than payday or car title loans.
Cons:
  • APRs are high, ranging from 99% to 199%.
  • Loan origination fees range from 0% to 3% and other fees can apply.
Best for: Really Bad Credit

OppLoans is alternative payday loan. Alternative payday loans approve people with really bad credit, who can’t qualify for a personal loan. Alternative payday loans are times cheaper than traditional payday loans!

See also:

Best Auto Loans for Bad Credit 2019 Up to $500,000, APR start at 1.99%.

Best Student Loans for Bad Credit 2019 Up to $500,000, APR start at 1.99%.

Best Mortgage Rates for Bad Credit 2019 Up to $1,000,000, APR start at 1.99%.

Best Business Loans for Bad Credit 2019 Up to $10,000,000, APR start at 5.99%.

Navy Federal is one of the largest credit unions in the United States. Do you know that credit unions approve people with bad credit? Their APR is capped at 18%, which is not bad at all. Some credit unions have payday loan alternative of up to 28%. Review our list of credit unions >>

3700 Reviews
Amount

$1,000 - $100,000

Min Credit Score 0

but 620 is Recommended

APR

4.99 - 35.99%

Approval

1 Day

Terms

12 - 120 months

Get started

Chosen 37100 times

Loan Comparison Site
More Information
Customer type:
All
Borrow up to:
100,000 $
Low credit score:

Weekend payout:

Credit check:
Soft
Age:
18
From 3700 Reviews
Interest Costs
Flexibility Terms
Website Functionality
Support Service

There are plenty of services in the marketplace, however, SuperMoney is the best! This company works with thousands of loan companies, lenders credit unions and so on, so finding you a loan will be easy. And they work different. Instead of getting your personal details and sending is to list of their lenders, like other companies do, SuperMoney will ask you to complete their form one time and directly list you offers that are available to you. There is a big difference because you directly get personalized offers based on your financial situation and your personal information is not send to list of lenders, like other sites do. After that, you can pick the best for you. Click offer details below each and you will find all of the information you need to know regarding APRs, repayment terms and fees. Best of all, the service is completely free and requires no obligation.

1101 Reviews
Amount

$100 - $40,000

Min Credit Score

0

APR

Vary

Approval

< 1 Day

Terms

1 - 60 months

1101 Reviews
Amount

$100 - $2,500

Min Credit Score

0

APR

Vary

Approval

< 1 Day

Terms

1 - 12 months

1101 Reviews
Amount

$100 - $2,500

Min Credit Score

0

APR

Vary

Approval

< 1 Day

Terms

1 - 36 months

1101 Reviews
Amount

$100 - $5,000

Min Credit Score

0

APR

Vary

Approval

< 1 Day

Terms

1 - 36 months

1101 Reviews
Amount

$100 - $35,000

Min Credit Score

0

APR

Vary

Approval

< 1 Day

Terms

1 - 60 months

1101 Reviews
Amount

$100 - $5,000

Min Credit Score

0

APR

Vary

Approval

< 1 Day

Terms

1 - 36 months

1101 Reviews
Amount

$100 - $1,500

Min Credit Score

0

APR

Vary

Approval

< 1 Day

Terms

1 - 12 months

1101 Reviews
Amount

$1,000 - $10,000

Min Credit Score

0

APR

Vary

Approval

< 1 Day

Terms

1 - 60 months

1101 Reviews
Amount

$100 - $5,000

Min Credit Score

0

APR

Vary

Approval

< 1 Day

Terms

1 - 36 months

1101 Reviews
Amount

$100 - $2,500

Min Credit Score

0

APR

Vary

Approval

< 1 Day

Terms

1 - 36 months

1101 Reviews
Amount

$100 - $10,000

Min Credit Score

0

APR

Vary

Approval

< 1 Day

Terms

1 - 60 months

1101 Reviews
Amount

$100 - $35,000

Min Credit Score

0

APR

Vary

Approval

< 1 Day

Terms

1 - 60 months

1101 Reviews
Amount

$100 - $5,000

Min Credit Score

0

APR

Vary

Approval

< 1 Day

Terms

1 - 36 months

1101 Reviews
Amount

$100 - $50,000

Min Credit Score

0

APR

Vary

Approval

< 1 Day

Terms

1 - 60 months

1101 Reviews
Amount

$100 - $5,000

Min Credit Score

0

APR

Vary

Approval

< 1 Day

Terms

1 - 36 months

1101 Reviews
Amount

$100 - $35,000

Min Credit Score

0

APR

Vary

Approval

< 1 Day

Terms

1 - 60 months

1101 Reviews
Amount

$100 - $50,000

Min Credit Score

0

APR

Vary

Approval

< 1 Day

Terms

1 - 60 months

1101 Reviews
Amount

$100 - $35,000

Min Credit Score

0

APR

Vary

Approval

< 1 Day

Terms

1 - 60 months

1101 Reviews
Amount

$100 - $5,000

Min Credit Score

0

APR

Vary

Approval

< 1 Day

Terms

1 - 36 months

1101 Reviews
Amount

$100 - $50,000

Min Credit Score

0

APR

Vary

Approval

< 1 Day

Terms

1 - 60 months

1101 Reviews
Amount

$100 - $1,000

Min Credit Score

0

APR

Vary

Approval

< 1 Day

Terms

1 - 12 months

1101 Reviews
Amount

$100 - $5,000

Min Credit Score

0

APR

Vary

Approval

< 1 Day

Terms

1 - 36 months

1101 Reviews
Amount

$100 - $5,000

Min Credit Score

0

APR

Vary

Approval

< 1 Day

Terms

1 - 36 months

1101 Reviews
Amount

$100 - $5,000

Min Credit Score

0

APR

Vary

Approval

< 1 Day

Terms

1 - 36 months

1101 Reviews
Amount

$100 - $5,000

Min Credit Score

0

APR

Vary

Approval

< 1 Day

Terms

1 - 36 months

1101 Reviews
Amount

$100 - $5,000

Min Credit Score

0

APR

Vary

Approval

< 1 Day

Terms

1 - 36 months

1101 Reviews
Amount

$100 - $5,000

Min Credit Score

0

APR

Vary

Approval

< 1 Day

Terms

1 - 36 months

1101 Reviews
Amount

$100 - $1,000

Min Credit Score

0

APR

Vary

Approval

< 1 Day

Terms

1 - 12 months

1101 Reviews
Amount

$100 - $40,000

Min Credit Score

0

APR

Vary

Approval

< 1 Day

Terms

1 - 60 months

1101 Reviews
Amount

$100 - $2,500

Min Credit Score

0

APR

Vary

Approval

< 1 Day

Terms

1 month

1101 Reviews
Amount

$100 - $5,000

Min Credit Score

0

APR

Vary

Approval

< 1 Day

Terms

1 - 60 months

1101 Reviews
Amount

$100 - $5,000

Min Credit Score

0

APR

Vary

Approval

< 1 Day

Terms

1 - 36 months

1101 Reviews
Amount

$100 - $40,000

Min Credit Score

0

APR

Vary

Approval

< 1 Day

Terms

1 - 60 months

1101 Reviews
Amount

$100 - $50,000

Min Credit Score

0

APR

Vary

Approval

< 1 Day

Terms

1 - 60 months

1101 Reviews
Amount

$100 - $35,000

Min Credit Score

0

APR

Vary

Approval

< 1 Day

Terms

1 - 60 months

1101 Reviews
Amount

$100 - $35,000

Min Credit Score

0

APR

Vary

Approval

< 1 Day

Terms

1 - 60 months

1101 Reviews
Amount

$100 - $5,000

Min Credit Score

0

APR

Vary

Approval

< 1 Day

Terms

1 - 36 months