Skip to content
SuperMoney logo
SuperMoney logo
Advertiser Disclosure

Best Personal Loans for Fair Credit

April 2024

When shopping around for affordable loans, it helps to have good or excellent credit. But even if your credit is not-so-good you still have options! This is our list of the best lenders who accept applicants with fair credit.
Best Of List logo

SuperMoney may receive compensation from some or all of the companies featured, and the order of results are influenced by advertising bids, with exception for mortgage and home lending related products. Learn more

A fair credit score is generally considered to be a FICO® score of 580 to 669. FICO® Scores range from 300 to 850 and most FICO® Scores fit into one of five categories: very poor, fair, good, very good and excellent. About one in five Americans have fair credit. If your credit score is fair, it may indicate to lenders that you just started building your credit or that you have missed some payments in the recent past. To compensate for that increased risk, loans for fair credit often charge higher interest rates and have lower loan amounts.
Fortunately, there are reputable lenders offering competitive loan offers to applicants with subprime credit. Here is our list of the best-rated personal loans for fair credit.
Compare All Personal Loans


SuperMoney's list of the best personal loans for OK credit is dynamically generated based on advanced algorithms and community feedback. The list focuses on personal loans that consider borrowers with credit scores under 670 and allow you to preapprove with soft credit pulls. This means you can check your actual rates and terms without hurting your credit.

Common Questions on Best Personal Loans for Fair Credit

What is a fair credit score?

A fair credit score also known as subprime or poor credit, typically includes consumers with credit scores ranging from 580 to 669. Approximately 17% of Americans have fair credit.
Before you start submitting applications, you should get a clear sense of your credit situation. If you haven't done so yet, pull your free credit score. This will tell you where you fall on the credit spectrum.
Credit scoreRangePercentage of people within this range
Very good740-79925%
Very bad300-57916%

Can you get a personal loan with a fair credit score?

Yes, you can. However, you will probably only qualify for high interest rates and modest loan amounts. FICO credit scores range from 300 to 850. The higher the number, the lower the perceived credit risk. Typically, if you're applying for a personal loan, you'll want a credit score of 660 or higher. However, there are loans available for applicants with lower credit scores.

What are the best rates you can get on a personal loan with an okay credit score?

It depends on the lender, the loan amount, your income and your credit history. Personal loan offers typically come with a wide range of APR that vary depending on the financial circumstances of the borrower. If your credit score is below 670 you will definitely not qualify for the lowest rates offered by a lender. To illustrate, if a borrower with a 650 credit score qualifies for a personal loan with APRs ranging from 10% to 35%, she will probably get an APR between 25% to 35%. However, the exact rate will vary dramatically depending on the lender, which is why it is so important to compare several lenders.

Should you improve your credit before applying for a loan if you have a fair credit score?

Yes, if it's not urgent, it is usually better to improve your credit score before you apply for a loan when you have fair or poor credit. This is particularly important if your credit score is poor. While there arepersonal loans for bad credit, the interest rates and fees can be very high. Only consider personal loans for fair or bad credit loans if it's an emergency.
One of the easiest ways to boost your credit score is to pay off some credit card debt. Try to reduce your balances so that you're not using more than 30% of your total available credit at any given time. You should also dispute any incorrect information on your credit report.

Should I take out a personal loan to build credit if I have a fair credit score?

A personal loan can be an excellent way to improve your credit score, if you make regular and timely payments. However, there are cheaper alternatives. For instance, getting an unsecured credit card with no annual fee and paying the balance off every month is one way to build your credit without paying interest. If you have bad credit you may need to apply for a secured credit card to build your credit score first.

What are the risks of personal loans for people with a fair credit score?

In your search for a personal loan for fair credit, you might run across some alternative loan offers that are easy to qualify for but have prohibitively high interest rates. If a company promises that they won't pull your credit report for a loan, there is usually a catch. Payday loans consider borrowers with bad credit, but their APRs can reach 300% or more. Car title loans also have notoriously high interest rates.
The lenders in the list above are a great place to start if you are looking for the best personal loans for okay credit. However, click here to compare the rates and terms of many more personal loans.

About the Author

SuperMoney logo


FacebookX (formerly Twitter)Linkedin

SuperMoney is the most comprehensive financial services comparison site around. We have published hundreds of personal finance articles and provide detailed reviews on thousands of financial products and services. Our unbiased advice and free comparison tools help consumers make smart financial decisions based on hard data, not marketing gimmicks.

Table of Contents

    You might also like

    Get Competing Personal Loan Offers

    Compare real offers from multiple lenders.

    Get Personalized Rates