The Best Loans for Bad Credit in July 2024
According to Experian data, nearly 13% of Americans have poor credit (a FICO score below 580). While many lenders will deny your application if you have bad credit, others may not. Lenders who work with people with bad credit often charge higher costs and lend smaller amounts, but these loans give you a chance to rebuild despite making credit mistakes in the past.
Here’s what to look out for when choosing a bad-credit lender and how to manage a bad-credit loan.
Once you improve your credit with a bad credit loan, refinance the loan to get a better rate.
Best loans for bad credit in July 2024
Methodology
We considered many features to evaluate the best loans for bad credit. These covered bad-credit-specific criteria as well as general lender features, including:
- minimum credit score requirements
- whether secured loans are available
- whether the lender accepts cosigners
- the maximum APR the lender charges
- funding time
- minimum income requirements
- customer…
