Mariner Finance does not require a minimum credit score for personal loan eligibility, unlike many personal loan providers. Although there isn't a specified credit score requirement, Mariner Finance will consider people who have bad credit (640 credit score or lower), according to customer service. Most other lenders' credit score requirements for personal loans range between 585 and 700.
Keep in mind that Mariner Finance will look at more than just your credit score when evaluating your application for a personal loan. Mariner Finance will consider your entire financial profile, including things like your income, existing debts and recent credit inquiries, when deciding whether to approve you.
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 Mariner Finance personal loan online to gauge your chances of getting approved with your current credit score.
The easiest banks to get a personal loan from are USAA and Wells Fargo. USAA does not disclose a minimum credit score requirement, but their website indicates that they consider people with scores below the fair credit range (below 640). So even people with bad credit may be able to qualify.… read full answer
Wells Fargo normally requires a credit score of 660 for their unsecured personal loans. However, they also offer secured personal loans that are available even with lower scores. Wells Fargo’s secured loans require collateral in the form of money in a Wells Fargo savings account or CD.
Most banks that offer personal loans require a credit score of at least 660. Some require even higher scores, like Citizens Bank (680) and Barclays (700).
Easiest Banks to Get a Personal Loan From:
USAA: Will lend to people with less than fair credit (scores below 640)
Wells Fargo: 660 minimum credit score for unsecured; no minimum for secured
American Express: 660 minimum credit score
Discover: 660 minimum credit score
TD Bank: 660 minimum credit score for existing customers (750 for non-TD customers)
These credit score requirements are either official info from the lender or the consensus of third-party sources.
The average person’s credit score is over 660, which puts them in a decent position to qualify for a personal loan from most banks. But if your score is lower, you can apply with USAA or get a secured loan from Wells Fargo.
You might also want to look outside of banks. Some credit unions and online lenders offer better chances of being approved with bad credit. For example, Avant’s minimum score requirement is reportedly 600 and LendingPoint’s is 585.
There are no personal loans with guaranteed instant approval. Many lenders offer the opportunity for near-instant approval, with a decision minutes to hours after they receive the application. But personal loan approval is never guaranteed under any circumstance. All lenders have some sort of requirements for approval, even those that accept people with bad credit. Plus, getting approved for a loan doesn’t mean that the applicant has the funds yet. It’s rare for a lender to fund a loan the same day the prospective borrower applies.… read full answer
Personal Loans with Nearly-Guaranteed/Instant Approval
LendingPoint: Approval and funding in 1 business day. Instant approval and same-day funding are possible. Requires a credit score of at least 580. APRs range from 9.99% to 35.99%.
Avant: Approval and funding in 2 to 3 business days. Instant approval is possible, but same-day funding is not. Reportedly requires a credit score of at least 600. APRs range from 9.95% to 35.99%.
FreedomPlus: Approval and funding in 2 to 3 business days. Instant approval is possible, but same-day funding is not. Requires a credit score of at least 620. APRs range from 5.99% to 29.99%.
Some lenders will not do a credit check when you apply. But they’ll still require you to have some form of income, along with other basic requirements like providing identification or proof of a bank account. In addition, lenders that don’t do a credit check are primarily predatory auto title lenders and payday lenders that charge overwhelmingly high APRs and fees.
Personal loans are a much safer choice. And even though personal loans with guaranteed instant approval don’t exist, there are still some loans that are relatively easy to get, with fast approval and funding timelines.
The closest thing to a personal loan with guaranteed instant approval is a secured personal loan. This type of loan requires collateral, so you’ll have to put a valuable possession on the line. That could be money in a savings account or CD, a vehicle, real estate, or collectible items like art. Because the lender can keep and sell the collateral if you don’t pay the loan back, it’s relatively easy to get approved with any credit score. Just be sure to ask the lender how long their approval and funding process takes, along with the conditions under which they can take ownership of your collateral.
You might also be able to instantly get a loan from a friend or family member who’s willing to lend you the cash. But you shouldn’t take the money without first writing and signing an agreement to pay it back.
Getting a personal loan is a lot easier than many people think. Most people are familiar with the credit card application process, however, and getting a personal loan is very similar. In general, you comparison shop to find an offer that suits your needs in terms of loan amount, length and APR. Then, you check for pre-approval to gauge your odds of success. Once you’re confident you want to apply, you fill out an application with some key personal and financial information, submit it and wait for a decision. Applying for a personal loan can be done in a matter of minutes, and you may find out whether you’re approved within a few days.… read full answer
How to Get a Personal Loan:
Compare offers after checking your credit score.
Check for pre-qualification.
Fill out an online application.
Get a decision.
Receive a bank transfer for the loan amount.
The first step in the personal loan process is always to check your credit score. Personal loan companies, just like credit card issuers, will look at your credit when you apply to see if you qualify. The higher your credit score is, the more loans you’ll qualify for and the better terms you’ll get. You can check your credit score for free with WalletHub. It’s also a good idea to take a look at your credit report and dispute any errors before applying.
Once you know your credit score, you’re ready to compare personal loan offers. Take note of the credit requirements that each available loan has, and narrow them down to ones you can likely qualify for. Then, compare other terms, like interest rates, estimated monthly payments, loan amounts and timeframes. These can vary widely depending on the lender.
After you’ve narrowed down your selections to a few personal loans with the best terms you can find, you’ll want to see whether any of the lenders offer pre-qualification. Pre-qualification is a way to check how likely you are to get approved for a loan without actually applying. You’ll just have to give the lender some basic personal information like your Social Security number. Pre-qualification will not affect your credit. If you are pre-qualified, you won’t necessarily be approved. But your chances are about as high as they can get.
By this point, you should make a decision on which loan to apply for. When you apply, it’s best to do so online. That way, you’ll have the potential for the fastest decision possible. The application will ask for basic personal information like your name and address, plus financial information like your income, employment status and monthly housing payment. Be sure to fill out everything accurately and truthfully.
All that’s left now is to wait for a decision. It could happen instantly or could take a few weeks, based on how well you meet the loan’s credit and income requirements and how quickly the lender can verify your personal information. If you’re approved, the lender will send you a bank transfer for the amount of the loan. Make sure you manage the loan responsibly after that. Pay on time every month, and pay more than the monthly minimum if you’re able to.
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