How much can you borrow from Barclays with a personal loan?

No, Barclays does not have emergency loans that you can get quickly. Barclays takes 2 - 3 business days for both approval and funding to fund new loans, which is likely to be too long for some emergency expenses, though loan amounts of up to $35,000 are available. If you can wait a little while to get your loan, then Barclays may be good for you.... read full answer

If you're interested in seeing what other lenders have to offer, check out WalletHub's top-ranked emergency loans. You can also use WalletHub's free pre-qualification tool to see which lenders may approve you and which rates may be available to you.

Yes, a Barclays personal loan does affect your credit score, both when you apply and during the entire time that you are paying the loan off. Initially, a Barclays personal loan will affect your credit score in a negative way, but the long-term impact can be very positive, assuming you repay the loan on schedule.... read full answer

How a Barclays Personal Loan Affects Your Credit Score

Hard pull: When you apply for a Barclays personal loan, Barclays will do a hard inquiry into your credit history, which will temporarily drop your credit score by about 5-10 points in most cases.

Increased debt level: Taking out a Barclays personal loan will naturally increase the amount of debt that you have. Since your debt level is one of the components of your credit score, you can expect that to have a negative impact initially.

Account diversity: One positive way that getting a Barclays personal loan can impact your score right away is by adding more diversity to the types of accounts you have open. Your "credit mix" is one of the components of your credit score, and the more types of accounts you have, the better - as long as you handle them responsibly.

Payments: The biggest factor in how a Barclays personal loan affects your credit score is whether you pay on time. If you make on-time payments, your score should steadily increase as a result. If you pay late or fail to make payments altogether, you can expect your credit score to drop.

The bottom line is that while a Barclays personal loan does affect your credit score, most of the way that your score changes depends on how responsible you are with the loan. If you'd like to estimate how certain actions might affect your credit score, you can use WalletHub's free credit score simulator.

Barclays does not offer personal loan pre-approval, which means you cannot see your odds of approval and potential interest rates before applying. Most other personal loan providers do offer pre-approval, which can be very helpful for potential applicants.

Even though Barclays does not offer personal loan pre-approval, you can try out WalletHub's free ... read full answerpre-approval tool, which checks with multiple other personal loan providers at the same time. It may help you find a good offer from a lender you weren't originally considering. This process will have no impact on your credit score.