Rick Bormin, Personal Loans Moderator
Yes, you can get a personal loan with a 590 credit score. The best personal loans for a 590 credit score are from LendingPoint because it offers the most competitive APRs and fees, and it will accept applicants with credit scores as low as 585. In general, however, your choices are very limited with a credit score of 590, as it's in the bad credit range.
When looking for a personal loan with a credit score of 590, you should first check to see if you pre-qualify for loans from major lenders. Checking to see if you pre-qualify won't affect your credit score, so it's worth a shot to see if you're eligible for a decent deal.
If you don't pre-qualify, your best options may be to apply with a no-credit-check lender or take out a secured personal loan. Unsecured personal loans that do a credit check during the application process usually require a credit score of anywhere from 585 to 700+ for approval.
Ways to Get a Personal Loan With a 590 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 590 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.
No-credit check personal loans
These are a good option for people with a credit score of 590 because the lender does not take your credit score into consideration when you apply. The tradeoff is that they tend to be more expensive than personal loans that do a credit check. The best no-credit check personal loan providers include NetCredit, OppLoans and Integra Credit.
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 590 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 attainable with a credit score of 590 because 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
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