Plain Green does not disclose a specific credit score needed to get a personal loan, unlike many personal loan providers. Although there isn't a specified Plain Green credit score requirement, Plain Green will consider people who have bad credit, according to customer service. Most other lenders' credit score requirements for personal loans range between 585 and 700.
Keep in mind that Plain Green will look at more than just your credit score when evaluating your application for a personal loan. Plain Green will consider your entire financial profile, including things like your income, existing debts and recent credit inquiries, when deciding whether to approve you.
The best personal loans for a 690 credit score are from LightStream, SoFi and Discover. The minimum credit score required for these lenders is either equal to or lower than 690, which is in the fair credit range.
A credit score of 690 is above the typical credit score required to get a personal loan with no origination fee (660). People with this score or above have a lot of choices, but some options are better than others. The following loans offer the most competitive rates, fees and dollar amounts for this credit score range.… read full answer
Keep in mind that even with a 690 credit score, you're not guaranteed to get approved for any of these loans. 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.
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.
Yes, you can pay off a personal loan early without a penalty – in most cases, at least. Penalties for repaying a personal loan ahead of schedule are very rare among major lenders. In fact, none of the personal loan providers that WalletHub has reviewed charges a prepayment fee. The purpose of such a fee, when it’s actually used, is to help the lender recoup some of the money it would have earned had the borrower paid interest for the full term.… read full answer
Personal loans generally require payment in equal monthly installments over a set period of time. But paying a personal loan off early can reduce the total cost of the loan by giving it less time to accrue interest. In addition, paying off a personal loan early reduces your overall debt load, which can improve your credit score. Another benefit is that you won’t have to worry about monthly payments anymore or have the stress of a loan hanging over your head for longer than necessary.
So paying off a personal loan early is good, provided you don’t get charged a fee. And it’s always wise to confirm that before submitting payment ahead of schedule. But even when there’s no fee, make sure that you can actually afford to pay off the loan early.
For example, if you have extra cash you could use to pay off the loan but do not yet have an emergency fund for unexpected expenses, it’s better to use the money to establish an emergency fund. And there may be additional situations where there’s something more urgent to use the money for than early loan payoff.
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