Rick Bormin, Personal Loans Moderator
@rhandoo2020
The best personal loans for a 490 credit score are from NetCredit, OppLoans and Integra Credit. These companies specialize in lending to people with bad credit and won't even do a credit check when you apply for a loan.
It's important to note that any personal loan you get with a 490 credit score is likely to have a very high APR and an expensive origination fee. If possible, you might want to try to borrow money a less costly way, such as from friends and family. If that's not an option, the following lenders offer the most competitive terms.
Best Personal Loans for a 490 Credit Score
Keep in mind that getting a personal loan with a 490 credit score is not guaranteed. When making a decision on whether or not to approve you, a lender will look at your whole financial profile, including things like your income, existing debts, housing status and more.
People also ask
What credit score is needed for a personal loan?
The minimum credit score for personal loan approval is 580, depending on the lender. That means it is possible to get an unsecured personal loan with a bad credit score, though such a loan will likely have an origination fee.
For your reference, WalletHub researched some of the most popular lenders to find out more about their specific loan requirements.
Credit Score for Personal Loan Approval by Lender
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What are the personal loan requirements?
Major personal loan requirements include being 18+ years old, having a bank account, having a high enough credit score for the lender, and having enough income or assets to afford monthly loan payments. Some personal loans may have additional requirements, such as providing pay stubs or collateral to secure the loan.
Specific requirements vary by lender. Avant requires a credit score of 580 or higher, for example, while Prosper sets the bar at 640...
read full answer by Adam McCann, Financial WriterHow hard is it to get a personal loan?
A personal loan generally is not hard to get as long as you have enough income to repay the loan. You can get personal loans from banks, online lenders, and credit unions, and you should be able to get approved with a credit score of 580 or higher.
Some unsecured personal loans are available to people with lower credit scores, but you have to watch out for predatory interest rates. For example, one good...
read full answer by Adam McCann, Financial WriterDid we answer your question?
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