The best place to get wedding loans with bad credit is LendingPoint. The minimum credit score needed for approval is 585, 55 points below the start of the fair credit range. LendingPoint doesn’t offer wedding loans, specifically, but their personal loans can be used for almost anything, including financing a wedding.
LendingPoint offers a decent amount of funding, with loan amounts ranging from $5,000 to $25,000. People with bad credit are more likely to qualify for a lender’s minimum loan amount than the maximum, so it’s good to apply with a lender that has a high minimum like LendingPoint. LendingPoint’s APRs range from 9.99% to 35.99%. The origination fee can be from 0% to 6% of the loan amount. People with bad credit should expect APRs and fees on the higher side.
But LendingPoint isn’t the only good lender for bad-credit wedding loans...
Where to get wedding loans with bad credit:
LendingPoint: 585 credit score required. Loans of $5,000 to $25,000. 9.99% to 35.99% APR. 0% to 6% origination fee.
FreedomPlus: 620 credit score required. Loans of $7,500 to $40,000. 5.99% to 29.99% APR. 0% to 5% origination fee.
Avant: 600 credit score required. Loans of $2,000 to $35,000. 9.95% to 35.99% APR. Up to 4.75% origination fee.
Upstart: 620 credit score required. Loans of $1,000 to $50,000. 5.59% to 35.99% APR. 0% to 8% origination fee.
Even though it’s possible to get a loan for a wedding with bad credit, doing so might not be the best move. It will increase the pressure on your finances at a time when you should be trying to rebuild. And you’re unlikely to get great terms on any loan with a bad score.
It may be worthwhile to postpone for a few months to rebuild your credit first. Alternatively, you could look for ways to reduce the cost of your wedding so you don’t have to borrow as much, either by buying from less expensive merchants or by getting rid of some non-essential purchases.
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