Rick Bormin, Personal Loans Moderator
Yes, you can get a personal loan with a 630 credit score. The best personal loans for a 630 credit score are from FreedomPlus, Upgrade and Avant, as they offer the most competitive APRs and fees. Furthermore, the best way to see what loans you're likely to get with a 630 credit score is to check for pre-qualification.
Best Places to Get a Personal Loan With a 630 Credit Score
- FreedomPlus: 620 credit score required
- Upgrade: 620 credit score required
- Avant: 600 credit score required
- LendingPoint: 580 credit score required
- Upstart: 620 credit score required
Note: Scores are from the lender or multiple third-party sources.
In general, your personal loan choices are limited with a credit score of 630, as it's in the bad credit range. Personal loan credit score requirements tend to be anywhere from 580 to 700+, with many of the best loans overall requiring a credit score of 660+.
Ways to Get a Personal Loan With a 630 Credit Score
See if you get pre-qualified
The best way to see if you're likely to qualify for an unsecured personal loan with a 630 credit score is to check for pre-qualification. WalletHub's free pre-qualification tool will let you know your approval odds and potential interest rates with multiple lenders at once, with no impact on your credit score.
Apply with a cosigner
Some personal loans let you apply with a co-signer, which is a person who promises to pay back the loan if you don't. The cosigner's credit and income impact the lender's decision more than those of the primary applicant, so it can help people with a credit score of 630 get approved for loans they might not normally qualify for.
Try credit unions
Credit unions often have more lenient personal loan approval requirements than banks, and may be willing to consider applicants with bad credit. You can find credit unions in your area on WalletHub and consult with them to see if you have a shot at approval.
Friends and family
People you have a close relationship with won't necessarily care about your credit score, and may be willing to lend to you. There's also a good chance you'll get better and more flexible terms than you would with a traditional lender.
Secured personal loans
These loans are pretty easy to qualify for. They require collateral that the lender can keep if you default on the loan, so there's relatively little risk for the lender. A lot of secured personal loans will require you to use money in a bank account as collateral, but some will accept other types of collateral like a vehicle.
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