Personal Loans by Credit Score and Borrower Situation
Your credit score decides which lenders will look at your application and roughly where in their APR range you land. It does not decide everything: income, existing debt and how you earn your money matter as much. This hub sorts the guides two ways, by score band and by situation, so you can start from the one that describes you.
Key takeaways
- FICO groups scores into five bands, from Poor (under 580) to Exceptional (800+), per myFICO.
- Most lenders do not publish a single minimum score. They price risk inside a range.
- Payment history (35%) and amounts owed (30%) carry the most weight in a FICO Score.
- Your debt-to-income ratio and documented income can matter as much as the score.
What credit score do you need for a personal loan?
There is no single number. myFICO lists the bands below and notes that in the Fair band "many lenders will approve loans with this score." Lenders set their own cutoffs, and several publish no minimum at all. Pick your band to see what it realistically means.
| FICO band (myFICO) | Score range | Guide on this site |
|---|---|---|
| Poor | Under 580 | 500 score, 550 score |
| Fair | 580 to 669 | 600 score, 650 score |
| Good | 670 to 739 | 700 score |
| Very Good | 740 to 799 | 750 score |
| Exceptional | 800+ | 800 score |
Figure: FICO's five score bands drawn to scale on the 300 to 850 range. Band limits from myFICO, accessed October 1, 2026.
How does your score change the rate you are offered?
Lenders publish APR ranges, and your score is one of the main inputs that places you inside them. On their own sites, Best Egg lists 6.99% to 35.99% APR, Upgrade lists 7.74% to 35.99%, and SoFi lists 6.49% to 35.49% (SoFi's range reflects autopay and member discounts, current as of September 30, 2026). The low end of each range goes to the strongest applications. At lower bands, plan around the top of the range and check the payment before you apply, using the APR estimator by credit band.
Representative example. For a $5,000 loan at a 10% APR over 36 months, the monthly repayment would be $161.34. Over the term, the total repayment would amount to $5,808.24, with $808.24 in interest. The loan terms range from 6 months to 12 years, with APRs between 5.99% and 35.99%. The exact rate you receive depends on factors like your creditworthiness, loan size, and repayment schedule. Better rates are typically offered to those with excellent credit.
What besides the score do lenders weigh?
FICO's own breakdown shows what moves the score: payment history (35%), amounts owed (30%), length of credit history (15%), new credit (10%) and credit mix (10%). Lenders then layer on two things the score does not capture:
- Debt-to-income ratio. The CFPB defines it as all monthly debt payments divided by gross monthly income. A strong score with a high DTI is a common reason for a decline; see good credit but denied.
- Income type and documentation. Salaried W-2 income is the easiest to verify. Self-employed, gig, benefit and new-job income each have their own paperwork rules, covered in the situation guides below.
Shop without the score hit. The CFPB says prescreening and other soft inquiries "will not affect your credit scores," while hard inquiries after you apply can. Prequalify first, then submit one formal application.
If your score is the obstacle, the credit score hub explains what lenders actually check and how to raise a score before applying. If existing debt is the obstacle, the debt consolidation hub covers when combining balances helps. To check your own ratio, use the debt-to-income calculator or browse all calculators.
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Guides by credit band
Low scores (under 580)
- Loans with a 500 credit score: what exists, what to avoid
- Personal loan with a 550 credit score: what you can get
- No credit history, need a loan: options for thin files
Fair scores (580 to 669)
- Personal loan with a 600 credit score: real options
- Personal loan with a 650 credit score: what to expect
Good to exceptional (670+)
- Personal loan with a 700 credit score: rates and lenders
- Personal loan with a 750 credit score: offers and pitfalls
- 800 credit score personal loan: what rate to expect
- Good credit but denied a personal loan? Common reasons
Guides by borrower situation
Income that is hard to document
- Self-employed personal loan with no tax returns yet
- Loans for gig workers: DoorDash, Uber, Instacart income
- Personal loan with a new job or job offer letter
Fixed or benefit income
Identity and co-borrowers
After bankruptcy or a denial
- Personal loan after Chapter 7 discharge: how soon
- Personal loan during or after Chapter 13: the rules
- Denied a personal loan? What to do in the next 30 days
For the general mechanics of rates, fees and terms, see the personal loans hub. Back to the Loans Generator home page.
Common questions
What is the minimum credit score for a personal loan?
It depends on the lender, and many do not publish one. myFICO notes that in the Fair band (580 to 669) many lenders will approve loans. Below 580, options narrow and cost more.
Does a higher score always mean a lower rate?
It usually moves you toward the low end of a lender's range, but income, DTI, loan amount and term also set the price. Two people with the same score can get different offers.
Can I get a loan with no credit score at all?
Some lenders and credit unions work with thin files, and a cosigner or credit builder loan can help. See no credit history, need a loan.
Will prequalifying with several lenders hurt my score?
Prequalification through soft inquiries does not affect your score, per the CFPB. Formal applications generally do.
What should I do if I am declined?
Read the reason on the notice you receive and fix what it names. The denied a personal loan guide walks through the first 30 days.
Sources
- myFICO, "What is a Credit Score?", accessed October 1, 2026.
- myFICO, "How are FICO Scores Calculated?", accessed October 1, 2026.
- Consumer Financial Protection Bureau, "What is a credit inquiry?", accessed October 1, 2026.
- Consumer Financial Protection Bureau, "What is a debt-to-income ratio?", accessed October 1, 2026.
- Best Egg, "Personal Loans," accessed October 1, 2026.
- Upgrade, "Personal Loans up to $50,000," accessed October 1, 2026.
- SoFi, "Personal Loans," rate disclosure current as of September 30, 2026, accessed October 1, 2026.
Loans Generator is not a loan provider or broker. We connect users with lending partners who may offer loans. Submitting a connection request on our site does not count as a loan application. To receive an actual loan offer, you must apply directly with a lender. We cannot guarantee loan approval or the terms shown on our website. Always review the loan agreement carefully before proceeding. Availability, rates, and terms vary by lender and by state. Rates and lender terms cited on this page were checked on October 1, 2026 and change without notice. This page is general information, not legal or financial advice.