Quick Answer: What Credit Score Do I Need To Get A Personal Loan?

What credit score do you need for a personal loan?

660FICO credit scores range from 300 to 850.

The higher the number, the lower the perceived risk.

Typically, the credit score for a personal loan that you’ll want to aim for is 660 or higher..

Can you get a personal loan with a credit score of 600?

Many lenders require a minimum 600 credit score when you apply for a personal loan. Your FICO Score, which is a type of credit score, is the one lenders most often use when determining loan eligibility. It ranges from 300 to 850, with 800 to 850 considered exceptional and 300 to 579 very poor.

What credit score is needed for a $5000 loan?

People with credit ratings ranging from bad to excellent may be able to find a $5,000 loan that works for them. Just keep in mind that unless your credit score is at least 660 (which is in the fair credit range), you likely won’t be able to qualify for a personal loan that doesn’t have an origination fee.

Can you get a personal loan with a credit score of 550?

You may be able to secure a personal loan with a credit score of 550, but you’ll be paying much more in interest than most borrowers with higher credit scores. Instead, you could consider waiting until you’ve improved your credit score, enlist the help of a cosigner or seek out a secured loan.

Which bank has the easiest personal loan approval?

USAAThe easiest banks to get a personal loan from are USAA and Wells Fargo. USAA does not disclose a minimum credit score requirement, but their website indicates that they consider people with scores below the fair credit range (below 640). So even people with bad credit may be able to qualify.

What credit score is needed for a 20000 loan?

640 to 699Adam McCann, Financial Writer. The best places to get a $20,000 loan with fair credit include LightStream, SoFi and Marcus. Most major personal loan providers have minimum credit score requirements that are within the fair credit range (640 to 699). Most also offer loans of $20,000 or more.