Getting approval for a personal loan with bad credit can be hard. But we've found lenders who will work with borrowers with FICO Scores of 580 or even less.

Personal loans can help build your credit as long as you make consistent, on-time repayments. Read more about how personal loans affect your credit score.

If you have strong credit, you likely have a better shot of qualifying for a personal loan with lower rates and more favorable repayment terms. But if you have a poor credit score of 550 or lower ...

That's because borrowing a personal loan can affect your on-time payment history, credit mix and age of credit accounts – three of the five factors of your FICO credit score.

How Personal Loans Affect Your Credit Score. Opening a new credit account, such as a personal loan, almost always requires a hard credit inquiry.You'll likely notice a small drop in your credit ...

Personal loan part payments can benefit your credit score and ease financial burdens. However, they should complement regular ...

If you are interested in getting a personal loan, it is important to know your credit score before applying. Here is how to know if your credit score is high enough to get a personal loan.

You can still apply for a personal loan with a credit score of 450 or below. However, know that the loan terms will likely be less favorable than they’d be if you had a higher score.

Reducing your credit utilization. Contributes up to 30% to your FICO score. If you use a personal loan to pay off credit cards through debt consolidation, you can reduce your credit utilization ...

Key insights. Personal loans can be used for almost anything, making them an easy option to turn to when cash is tight. A personal loan can positively or negatively impact your credit score ...