Best Bad Credit Loans (2022) Most Reliable Bad Credit Score Lending Platforms

Having lower than average credit does not mean that you cannot secure a loan. Credit lenders have bad credit lines available for people with a lower credit score, making it easier to get a loan even with a less-than-stellar credit score.

As long as you do your research to find a legit company, you can get a loan even if you do not hold a credit score or if it’s inferior and/or average.

Once we completed continued research on bad credit lenders in the industry, we found this:

The Best Bad Credit Lenders in 2022

We conducted much research to discover 2022’s best bad credit lenders, and this is how we rank them:

  • MoneyMutual
  • BadCreditLoans
  • PickALender
  • CashUSA
  • PersonalLoans
  • LendYou
  • Next Day Personal Loan
  • Upgrade Personal Loans
  • Payzonno



MoneyMutual is a money lender that exclusively operates on the Internet. They have serviced over 2 million consumers to secure cash advances to help them pay bills and other unforeseen expenses. The company is the third-party connection to over 120 bad credit lenders throughout America.

MoneyMutual states that potential borrowers can secure a $5,000 cash advance as quickly as one day. Sign up for a MoneyMutual account, enter your credentials for credit screening, and the affiliated lenders review your application. It’s that simple!

MoneyMutual does not cost a penny to enjoy the service. The affiliated lenders pay MoneyMutual to be a part of the website so that you do not have to pay anything except the money back to the lender that gives you cash. MoneyMutual will not slip in surprise fees.

  • Lending Amount: $5,000 within 24 hours (if you apply during Sunday through Thursday).



BadCreditLoans allows people to fill out a credit application to secure a loan from as low as $500 to as high as $10,000. Go to www.badcreditloans.com to get started!

The website makes it easy by asking you three key pieces of your information, screening you, and telling you if you qualify for a loan. You need to enter your local zip code when you were born and the last four digits of your Social Security Number to start the screening process.

BadCreditLoans has a completely free service just as MoneyMutual does. The affiliated lenders on BadCreditLoans pay the company to advertise. Once you are matched with a creditor, you will enter a contract with them to pay the loan back. There’s no extra trouble when trying to find a lender through BadCreditLoans, as they are another free and friendly third-party credit application website.

When you apply for a loan from one of BadCreditLoans’ affiliated lenders, the company discloses all the fees involved in taking out a loan, which means they are honest about the lending experience for interested borrowers.

  • Lending Amount: Between $500 to $10,000 within 24 hours.



PickALender can help you secure a personal loan from $100 to $40,000. Once you have completed the website’s credit application which only takes a couple of minutes, you will be matched with personal loan offers based on your zip code.

The company operates like other online lending companies on this list, whereas they partner with credit companies to get you the personal loans you need.

Many affiliated lenders in this online lending marketplace give you ample opportunity to secure a personal loan no matter how average or bad your current credit score may be.

  • Lending Amount: $100 to $40,000 within 24 hours



CashUSA connects you with a bad credit loan as low as $500 to as high as $10,000 with a simple application process. Fill in the form when you first log on to the website, select a lender from the list you are given after the online form is completed, select one of the offers for a loan, and submit the money to your account thereafter.

CashUSA is another online lending marketplace that gets borrowers connected with the creditors they are seeking to secure a loan. The electronic form asks you your local zip code when you were born and the last four digits of your Social Security Number to screen you for eligibility.

The company lets you know all the lender’s fees and APR rates to know what’s going on immediately before accepting an offer. Their mission is to get you the money you need for whatever you need it for fast. You can receive funds as quickly as 24 hours from the time of your offer acceptance.

  • Lending Amount: $500 to $10,000 in 24 hours or less



PersonalLoans are not just for people with bad credit. Borrowers with good credit can take advantage of these great loans as well. This platform is easy-to-use and makes it simple to apply for a loan.

Find a loan that you need as low as $1,000 to as high as $35,000 from the affiliated lending companies. You will be satisfied that you do not have to pay any extra fees for using the PersonalLoans platform. You only have to pay the affiliated lender if you are approved for a loan.

Take control of your loan’s payment schedule by choosing the specific rates and how much you pay per billing cycle to avoid trouble paying back the loan.

  • Lending Amount: $1,000 to $35,000 within 24 hours applied



LendYou has an easy application and lender-matching process to get immediate cash for anything you need to pay, such as vehicle repairs and backed-up bills.

You can find lending options that work for you, no matter your credit score. Secure the cash that’s needed for whatever payments such as credit consolidation and car loans with a simple online-exclusive application.

You must be age 18 or above to be able to qualify for a loan from LendYou. Be sure that you also have a checking or savings account at your local bank in which you can receive direct deposits. You must have at least $1,000 or more income every calendar month. If you are a member of the American military, you would not be able to apply. Should you qualify for one of LendYou’s third-party loan lenders’ offers, you will receive your loan within 24 hours of application time.

  • Lending Amount: $100 to $2,500 within 24 hours

Next Day Personal Loan


Next Day Personal Loan allows you to get the funds you need by filling out a short online form, agreeing to the terms and conditions and the loan via your signature, and waiting for your money to deposit within 24 hours or less.

Your transaction will be safe and secure via encryption of 256 bits with access to many possible loans for people of all credit scores. Once you have completed the application process, the deposit takes place quickly so you can pay off your debts and sigh in relief.

With a high borrowing capacity of up to $40,000, you will be satisfied with starting the next big step in your life sooner than you thought.

  • Lending Amount: $100 to $40,000 within 24 hours

Upgrade Personal Loans


Upgrade Personal Loans offers the highest possible loan on this list, $50,000. The other bad credit loan lenders we usually featured only lend up to $40,000.

Log on to Upgrade to start browsing lending offers in under 5 minutes. Many options have superbly reduced fixed rates, and your monthly payment will match up to your loan’s payment terms.

San Francisco is where Upgrade Personal Loans originates from, and you can get loan offers as low as 5.94% to as high as 35.97% as your APR rate. You can receive a lower APR rate with a better credit score. Despite this, everyone can find the right loan for them, even with a bad credit score.

  • Lending Amount: $1,000 to $50,000 in as little as 24 hours or less



Payzonno gives you a unique experience when filling out your application form. You are greeted by a chatbot that helps you to start a quiz. Note your personal information and your financial background. Once completed, you will receive offers tailored to your quiz’s generated profile.

Those with a poor credit score can still receive thousands in their bank account when using Payzonno. Sending in proof of the income that you generate each month will make that received amount higher.

This is another free borrower and creditor pairing service, whereas the creditors pay to be represented on Payzonno while you do not have to pay a penny. You can garner a loan from as low as $100 to as high as $5,000 based on your financial situation, overall credit score, location, and additional variables. Complete the Payzonno quiz to get matched with loan offers just for you today!

  • Loan Amount: $100 to $5,000 within 24 hours

Variables Considered When Ranking The Best Bad Credit Lenders

Sure, a loan lending company can say that there is no hassle to securing a personal loan, but not every creditor works the same as others. These were the variables we considered to find the top bad credit lenders for this ranked list:

Gives Loans to People with Poor Credit or No Credit Score

We compiled a list of lenders that focus on helping people with a poor credit score or no credit score get started building up a better credit history. A poor credit score should not be why you cannot borrow money when you need it.

How Fast Loan Money is Deposited

Most personal loan lenders give your money to you in one business day, with some lenders giving you your deposit within 6 hours to 12 hours, which is even faster delivery. How fast your money gets deposited was essential when considering which creditors ranked higher on this list.

Reputable Brand & Good Performance

While some companies have just entered the credit lending space with no good performance history yet, others have been in the industry for years and have built a great reputation. As long as the company offered quality loans options for people with various credit scores, we considered them for ranking.

Loan Amount

You can get a deposit of $5,000 or more without hassle from some creditors as others swindle you into thinking you will receive an offer. Still, then they do not actually give you one once they discover your possibly below-average credit score.

A Hassle-Free Application Experience

It’s difficult enough navigating the many personal loans available out there. We wanted to make it easy for you and only feature the loan lenders that give you a hassle-free application experience via a high-quality website.

Reviews from Consumers

While we conducted our own research utilizing the loan lending websites, we investigated what consumers thought of each website to see which ones maintained good performance in servicing their customers.

Trustworthy Company

While some companies try to be crooked as they help you to get a bad credit loan, others are actually willing to help you along the way. There are plenty of companies that will give you a bad credit loan without trying to steal your personal information to commit identity fraud. We wanted to feature trustworthy companies with how they operate to serve their customers.


Interest APR rates are the key element of competition amongst bad credit loan companies. They usually have a higher cost than other loans that give you more of a credit line. According to the law, these companies must be sure not to go over a specific APR interest rate.

Disclosing Fee Schedule

Companies that disclosed their fee schedule without any surprises ranked higher. Sure, these companies naturally have higher interest rates, but they should not break the bank.

The Bad Credit Loan Application Process

It is not complicated to apply for a bad credit loan as long as you take your time.

This is the bad credit loan application process:

  • Use Credit Karma or another credit tracker to know your current credit score. It will help you to know which lenders would be more accepting of giving you a loan offer.
  • Look at all their lending possibilities once you have found the few lenders that will work with you. Start with some of the lending websites on this list if you are stuck.
  • Get your verifying documents together, such as income proof (if needed), the total income you make per month and annually (if applicable), and your other personal information.
  • Start the bad loan application and wait for what it tells you after the application has been submitted. If approved, you can get your deposit quickly.

It takes less than 5 minutes to complete a credit application once you have gathered all this information.

The Perks of Applying for a Bad Credit Loan

The best perks of applying for a bad credit loan are as follows:

  • Quick Source of Cash: If you need cash now, bad credit loans can get you the money you need quickly without much hassle.
  • Interest Rates Lower Compared to Credit Cards: Bad credit loans can start as low as 5%, while credit cards usually begin at 18% interest APR. In the long run, a bad credit loan could be more cost-effective than applying for a credit card based on interest APR alone.
  • Many Lenders Available: More bad credit loan companies have popped up recently, which means there are many lenders available that will be able to give you a loan more so than ever before. You will find a lender that gives you a stellar low-interest rate if you keep browsing.
  • Take Command of Your Repayment: Whether a bad credit loan lasts for half a month or up to a few years, you can take command of your repayment and select the terms and monthly payment that works best for you.
  • Helps Increase Your Credit Score: As long as you keep up with paying your loan off on time, you will eventually see an increase in your credit score.

How Credit Scores Work

Credit scores can be tricky to decode. However, we are here to break it down for you.

America’s three main credit bureaus are Equifax, TransUnion, and Equifax. Based on your Social Security Number (SSN), your past financial history is tracked, such as the number of credit cards you have along with each credit balance, any loans you took out in the past, and if you have anything overdue with certain companies. They could also track said information via your Individual Taxpayer Identification Number (ITIN).

All three credit bureaus keep almost the same thorough report on your financial history. A score is given to you that shows the chances of you being able to pay back the sum of money a creditor gives you to borrow.

Causes of Bad Credit

Many variables are considered when the credit bureaus award you a specific credit score. The key causes of bad credit are as follows:

  • The duration you have held credit, a higher amount of time means a higher score.
  • The amount owed on your open loan or other debt accounts.
  • If above 30%, your credit usage can lower your credit score.
  • Your credit portfolio includes car loans, credit cards, and other types of loans.
  • New credit profiles can run down your credit score.
  • Whether you have possibly missed payments and/or had to claim bankruptcy in the past.

Because of these variables, your credit score will be high, average, or low. It continually increases and decreases based on how these variables change. Paying off a debt will raise your score. A new credit line will increase your score because now you have access to a higher total available credit. If you use too much of your available credit, your score can decrease.

What Range Is Considered a Bad Credit Score?

If your credit is below 580, usually, you would not qualify for many lines of credit because you would be known as a high-risk borrower.

These are the ranges to show whether your current credit score is too high, too low, or just average:

  • Excellent: 800 and higher.
  • Very Fair Credit: 670-739
  • Fair Credit: 589-669
  • Bad Credit: 580 and below.

The 4 Main Types of Bad Credit Loans

Bad credit loans are for people that do not have the best credit score or no credit whatsoever. These are the four main types of bad credit loans:

Internet-Based Lenders

Internet-based loan lenders have become more mainstream in the past few years. Take advantage of one of the companies discussed earlier in the post for you to get started borrowing the money you need today, even if you have a bad credit score.

Payday Loans from Credit Unions

If you are a member of any credit unions affiliated with the National Credit Union Administration, you may qualify for one of their payday alternative loans (PALs). They are little like payday loans, but these are more cost-effective with lower interest rates. PALs have interest rates as high as 28% per federal law, so it’s much less interest than what you would pay if you applied for a payday loan.

Enlist the Help of Friends and/or Family Members

Your loved ones aren’t going to check your credit regularly like the credit bureaus. If they trust you, they will give you a helping hand as long as you keep to your word that you will pay them back.

A Bad Credit Home Equity Loan

If you own a home and it has equity, you can either get a home equity line of credit or a home equity loan, no matter your credit score. For this option, your home is what will pay off your debt if you do not pay off the debt yourself. There are lower interest rates for this option because the home itself is the main security of the overall loan. Interest that is accrued on one of these loans could also be tax-deductible. The main negative aspect of this setup is that you can lose your home if you do not pay off your debt.

What’s the Cost of a Bad Credit Loan?

The cost of a bad credit loan is based on many variables, including the interest rates, your overall credit score, your current financial portfolio, and where you live.

The usual interest for bad credit loans starts as low as 4.9% and goes as high as 35.99%.

If your credit score is higher or you go the extra mile to provide pay stubs and other proof of your monthly income, you can increase the amount of money you receive on a bad credit loan.

See what other fees are entailed for your bad credit loan, whether related to early, late, or missed payments and different costs that you may not have considered.

What Amount Can I Borrow?

You can usually borrow as low as $500 to as high as $5,00 from bad credit loan companies.

Different companies usually start as low as $100 if you do not need a large loan. However, if you need a lump sum, you may be able to borrow up to $50,000, depending on your credit.

A higher credit score and/or submitting extra proof of income will increase the amount of money that your bad credit loan will be worth.

Different Ways for Fast Cash Besides Bad Credit Loans

While bad credit loans can get you the money you need, there are different ways to get cash quickly. Consider these alternatives as well before jumping into a bad credit loan.

Smartphone Apps That Give Out Cash Advances

Smartphone apps that give out cash advances have climbed to the top. Dave, Earnin, and Chime are some of the few cash advance apps that can give you access to your paycheck in as little as two days ahead of time. These options usually do not accrue interest, making this a more cost-effective option.

Personal Loans from Different Creditors

Bad credit loans can have low-interest rates, but personal loans can go even lower. No matter your credit score, you can still receive loans from other creditors such as your credit union, local bank, or even an Internet-based creditor.

Small Dollar Loans

If you have an emergency and need funds right away, small-dollar loans can help you out. One type of small-dollar loan is Bank of America’s Balance Assist. As long as your bank account has a great status, you can inquire about applying for a small-dollar loan with your bank.

Websites That Connect Borrowers to Lenders

Websites that connect borrowers to lenders have climbed in the mainstream industry for the past ten years. The borrowers are connected to people like them who lend out their savings and earn some interest from the borrower who has to use some of it and pay it back afterward. Some of these websites have graduated to do this with cryptocurrency, too.

Auto Title Loans

Like a home equity loan, an auto title loan puts up your car as collateral when you need to borrow some money. This should be the option you consider if you are all out of other possibilities for quickly getting the money you need. Remember that auto title loans must be paid within one month or less, or you will lose your car.

What is Needed for a Bad Credit Loan Application?

When you go for a bad credit loan, there are some things that you need to prepare, such as gathering specific documents. Every lending company has its own rules and every state of residence.

What you need before applying for a bad credit loan is the following:

  • Complete the application at least after your 18th birthday or later.
  • Select the correct state of residence on your loan application.
  • Be sure that your email address and phone number are active.
  • Show that your checking account has been opened for one month or longer.
  • Currently not claiming bankruptcy or planning to do so.

Certain lenders also want to see that your income is steady before they allow you to accept a loan offer. If your income is higher than $1,000 each month, you would usually qualify for a bad credit loan.

Some loan companies would require your SSN or ITIN for application processing, as other loan companies will not ask you for this information.

What Are the Costs for Applying for a Bad Credit Loan

If you apply for a payday loan, you may have to pay anywhere between $15 to $100 on top of the amount you are paying back to the creditor. The Consumer Financial Protection Bureau confirms this range of payment.

Some bad credit loan companies do not operate exactly like payday loan companies. You can get a loan no matter your credit score at many bad credit loan companies and still get to pay less of the cost than a payday loan while having access to cash quickly.

What Amount of Money Am I Able to Borrow With a Bad Credit Loan?

The least that you could be eligible to receive from a bad credit loan is as low as $300 to as high as $1500.

A personal loan can allow you more borrowing power starting as low as $5,000 to as high as $15,000 whether you have an above-average or below-average credit score.

Frequently Asked Questions About Bad Credit Loans

Navigating how to apply for a bad credit loan can be tricky. Here are the answers to the many questions you may have about bad credit loans.

Q: If you have bad credit, what is the best option to get cash fast?

A: Go to an online lending platform to access many lending options that you can get even if you have a below-average credit score.

Q: Am I able to receive a loan even if I do not have a credit score?

A: A no credit check loan is your best bet to secure a loan if you do not have a credit score. While this option costs more, you can have more instant access to cash. Be aware of the companies that say they do not check your credit score, as this could be fishy.

Q: What bad credit loan companies will give me a chance?

A: Check out the details of the bad credit loan companies detailed above for more information.

Q: Is securing a loan with a below-average credit score actually possible?

A: Yes, this is possible. While you may have to pay more interest because of the bad credit score, there is also the option of a no credit check loan.

Q: How do I gain access to a loan quickly?

A: Go to an online lending company to get quick access to cash. Utilize a smartphone app that gives cash advances or consult your credit card company for a cash advance. Ask a family member or a friend for a small interest-free loan, which is a great option if you have exhausted other options.

Q: Am I able to secure a loan for $10,000 if I have bad credit?

A: Yes, bad credit loan companies have done this for borrowers before.

Q: Is there a catch for applying for a bad credit loan company loan?

A: You will have to pay higher interest rates utilizing this credit lending option on top of other possible fees. The company that lends you the money needs to tell you all the fees when they make you an offer.

Q: What’s a bad credit loan?

A: This is a binding agreement between you as the borrower and the bad credit loan company as the lender. You get to borrow money that you must pay interest or additional fees depending on the company’s parameters.

Q: What amount of money can I receive as a loan if I have bad credit?

A: A small bad credit loan can go as low as $100 to $1,500.

Q: Will sending an application for a bad credit loan affect my credit score?

A: The application will only adversely affect your credit if the lender does a credit check.

Q: What’s a FICO score?

A: This is another term for your credit score utilized by specific companies. If your credit score is below average, your FICO score is below average, too.

Q: What’s needed before applying for this type of loan?

A: Be age 18, reside in the state on your application, have a working email address and phone number, and a validated SSN or ITIN will be what you need before applying for a bad credit loan. You may be asked to prove active bank status and your steady income source to receive a loan offer.

Q: Am I able to get a bad credit loan if I am self-employed?

A: Yes, you can do this. Show proof of your self-employment income just as if you were working a W2 job.

Q: What’s the bad credit loan application process?

A: Visit online lending companies to see if a bonus is available for completing your application online. Some applications must be completed in person.

Q: How quickly can I receive these funds?

A: You can receive your funds in as little as 2 hours or as long as 24 hours, depending on the day of the week in which you submitted your application. If you completed your application during the weekend, you would have to wait a little longer for your money to possibly clear by that coming Monday.

Q: Will I need to hold a job to qualify for a bad credit loan?

A: You will not need a job for most bad credit loan applications. Keep in mind that some companies mandate that you give them proof of a steady income, whether from a W2 job, self-employment earnings, disability, or another source of regular income.

Q: How can I tell if I have been approved or not?

A: The lender will contact you via email and/or phone to tell you that you have been approved for the loan.

Q: What’s the cost of applying?

A: No cost is accrued while applying, but you will have to pay your loan back if it has been approved.

Q: What method will be used so I can get my money?

A: Bad credit loan companies make it seamless and deposit your loan funds as a direct deposit into your bank account, especially online lenders. If you live nearby the company, you may be able to pick up the loan on the same day after applying in-person or online.

Q: When do I have to start paying back the loan?

A: Some payday loans state that you must pay the loan back the next time you get paid from your job. Certain bad credit loans have a one-month, two months, or a year payment period.

Q: What method will I undergo to pay these funds back?

A: Make an online payment for the easiest way to pay back these funds each month. If you prefer, so that you do not forget, you can have automatic withdrawal for each monthly payment.

Q: What if I can pay off this loan earlier than the contract time?

A: Check your payment terms because some companies will give you an early pay-off fee as other lenders may not do this.

Q: Which loans have the best approval odds?

A: Online lending platforms are the best approval odds for receiving a bad credit loan.

Q: Is it possible to refinance a bad credit loan?

A: Yes, this is possible. Talk with your lender about your options.

Q: Why are interest rates higher for this type of loan?

A: Since bad credit loans only let you borrow money in the short-term, this is why you may pay higher interest rates.

Q: Can I apply for more than one bad credit loan?

A: Check your state’s mandates to get your answer to this question.

Q: Is this loan option a sham?

A: They are not a sham. Many people nationwide have been able to get the money they need despite lower credit scores.

Q: Do these loans need collateral in the contract?

A: Bad credit loans do not need collateral to finalize the contract. The money will be automatically withdrawn from your account if it is a payday loan.

Q: If I have trouble repaying my bad credit loan, what happens?

A: If you have trouble repaying your bad credit loan, you will have to negotiate repayment options with your lending company, even if you pay less each month. If this is not possible, they could put a collections report on your credit.

Q: Does the government regulate bad credit loans?

A: States and the federal government regularly regulate bad credit loans.

Q: Is it safe to apply for a bad credit loan from an online lending platform?

A: Many legit bad credit loan companies will give you a chance and give you a loan no matter your credit score.

Q: What are the rules for spending my bad credit loan?

A: Utilize the funds however you deem necessary. Pay off backed-up bills, put some of it towards a rent or mortgage payment, or use it for an emergency such as medical bills. Be sure to repay your loan to the lending company, and there will not be any issues.

Q: Which company is considered the top bad credit loan company?

A: Our number one choice on this list is MoneyMutual. Go down the list to see the rest of the ranked bad credit loan companies.

The Best Bad Credit Lenders in 2022 Concluding Thoughts

The Federal Reserve states that 40% of Americans do not have an emergency fund of at least $400 for unexpected expenses.

Thankfully, bad credit loan companies have made it possible for more people to access the money they need, even if they do not have the best credit score.

Start your bad credit loan application by referring to one of the companies above for more information.


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