Getting a loan with a bad credit score is very hard because many lenders are not willing to give out their cash to people with bad credit scores for the fear of not paying it back.
However, they are still other loan-granting platforms that offer loans to people with a fair credit score.
A credit score that is between 550-669 on the FICO is considered a fair credit score. It used to be hard for people that have credit scores between 550-669 to get loans but some loan companies are now issuing loans to people with a fair credit scores.
Like other loan awarding platforms, Fair credit loan companies offer loans to people with fair credit scores and as well to people with zero credit scores.
However, the major downside of the Fair Credit loan is that you don’t have a chance to apply for a large sum, that is the amount you can request is very small compared to people with a good credit score.
However, in this article, we will be listing the top fair credit loans with guaranteed approval.
Fair Credit Loans Guaranteed Approval
Discover offers personal loans to their customers irrespective of their credit score. According to Discover, they take a fair look at your credit score and sometimes It isn’t considered in approving your application.
They are no application fees but you need to have a good transaction record before your loan can be approved.
On Discover, you can get a loan amount of $2,500-$35,000 which you can pay back within 36-84 months. The interest is not static and could range from 5.99-24.99%. You can head to the Discover website to kick-start your loan application.
Aside from personal loans, Discover offers credit cards that can be used to make payments in any of your favorite outlets.
Click Here to begin your application!
LendingPoint is a fair lending platform based in Atlanta, Georgia. This platform offers personal loans to people with fair credit scores.
On LendingPoint you need to have a credit score of 580 which is considered to be fair before your loan can be approved.
One thing that makes LendingPoint stand out from other lending platforms is that they are no application fees and no late payment fees.
Borrowers may receive funds a day after their application and the repayment term ranges from 24-60 months.
You can get a loan amount of $2,000-$35,500 if you have a good transaction history.
You need your SSN number, phone number, and Email to start your loan application on the LendingPoint website.
Click Here to begin your application on LendingPoint.
Upgrade is a fair credit loan issuing company that gives loans to people with credit scores as low as 550.
Upgrade loan applications can be done on the Upgrade website or the mobile application.
You can get a minimum amount of $1,000 for a start and when time passes you could get a higher amount.
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Payment terms usually last for 24-84 months. If you are unable to pay within the period you will be charged $10 for late payments.
The interest rate is very low which could range from 6.95 to 35.97%.
Click here to start your Application on Upgrade
4. Rocket Loans
Rocket Loans is an online based loan platform that offers low-interest loans to people. You can get a personal loan of $2000 to $45,000 even if your credit score is fair.
One thing about Rocket Loans is that they do same-day funding for eligible borrowers. The loan application is done online and doesn’t require paperwork before your loan application will be approved.
Rocket Loans’ personal loans are currently available in 47 states, excluding Nevada, Iowa, and West Virginia. You can check your pre-qualification status and apply online.
Click Here to start your loan application on Rockey.
Avant with a 4.1-star review on Investopedia is one of the far credit loans with guaranteed approval.
Avant loan application is done online. With a 580 credit score requirement, they offer loan amounts within the range of $2,000 to $35,000. The minimum amount that you can borrow differs by state.
The payment terms usually last for about 12 to 60 months with a late payment fee of $25 if you don’t pay back within the stipulated period.
All the loan applications are done on the internet with guaranteed instant approval if you meet up with all the criteria required for awarding a loan.
Click here to begin your application.
Frequently Asked Question
Can I get a 15000 loan with fair credit
No, you can not get $15000 loan with a fair credit score. To get this amount, you need to have an excellent credit score and your debt to income ratio is very low.
How big of a loan can I get with a 600 credit score?
You can get up to $2000 with a 600 credit score. Most of the loan companies that give personal loans to individuals with fair credit scores can easily consider and approve your application.
Can you get a loan with 550 credit score?
Yes, you can a loan with 550 credit score on Fair Credit Loan companies that was mentioned above.
The above-listed loan company offers loans to people with fair credit scores. You can just head up to any of the sites listed above and kick-start your loan application.