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

Yes, PNC personal loans are legit because PNC is registered to do business in the states it services, which is a legal requirement to be a legitimate lender. Another reason why PNC personal loans are legit is that the lender has a rating of A+ from the Better Business Bureau.

Why PNC Personal Loans Are Legit

• PNC is registered as a business in the states it services.
• PNC has a Better Business Bureau rating of A+.
• PNC has been around since 1852.
• PNC has an average user rating of 4.1/5 on WalletHub.
• PNC personal loans have a rating of 4.6/5 from WalletHub's editors.
• PNC has a secure website, which you can tell by the fact that the URL has "https" in front of it.

While PNC personal loans are legit, they may or not be the best choice for you. It's important to compare the terms and requirements of PNC personal loans against your other options before submitting an application.

Yes, a PNC 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 PNC 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 PNC Personal Loan Affects Your Credit Score

Hard pull: When you apply for a PNC personal loan, PNC 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 PNC 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 PNC 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 PNC 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 PNC 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.

Applicants need a credit score of 650 to get a personal loan from PNC, according to multiple third-party sources. That means the PNC personal loan credit score requirement is in the fair credit range. To put this in perspective, most other lenders' credit score requirements for personal loans range between 585 and 700.... read full answer

Keep in mind that just having a 650 credit score is not enough to qualify you for a PNC personal loan. PNC will consider your entire financial profile, including things like your income, existing debts and recent credit inquiries, when deciding whether to approve you. It's also worth noting that some applicants might be able to get a personal loan from PNC with a slightly lower score if it's offset by other factors like an especially high income. But it's best to wait to apply until your score meets the threshold.

If you're unsure of what your current credit score is, you can check it for free on WalletHub. You can also pre-qualify for a PNC personal loan online to gauge your chances of getting approved with your current credit score.