What is the minimum credit score for a personal loan?

Quick And Easy Personal
Loans Up To $2500

The minimum credit score for a personal loan varies depending on the lender. Some lenders work with bad credit, while others may require good credit for qualification. It’s in your best interest to inquire with multiple lenders when looking for a personal loan.

CreditNinja credit score requirements are generally pretty flexible. When making an approval decision, we look at more than just your credit score. If you have a reliable source of income, it’s possible to qualify despite a lower credit score.

Credit Score Requirements for Different Loans

Traditional bank loans have some of the strictest qualification requirements, which is why they are hard to get for many people. Most traditional lenders want to see a good credit rating, which generally falls between 670 to 739 points.¹ 

Bank loans are usually unsecured, so the lender has to risk default when providing financial relief. If you have a low credit score, the bank or credit union will likely deny your application to offset the financial risk.

However, there are alternative loan options that have far more flexible qualification requirements. Applying for a loan online with bad credit doesn’t have to be a hassle. 

Bad Credit Loans

Bad Credit loans are meant for people that have low credit scores! A bad credit loan is any loan option that provides fast financial relief to people that don’t meet the minimum credit requirement for traditional bank loans. Personal loans and payday loans are two of the most common bad credit loan options.

Payday Loans

Payday loans are short-term loans that provide small loan amounts for financial emergencies. While this seems like a quick solution to unexpected expenses, payday loans have several drawbacks. Payday loans have to be repaid within two weeks, which can make the repayment process a struggle. Many borrowers end up stuck in a cycle of debt due to short repayment periods and high-interest rates.

Personal Loans

Personal loans provide a lump sum that borrowers can repay in monthly installments. The repayment length for a personal loan can last a few months or years, depending on the borrower’s preference. 

Between payday loans vs. personal loans, a personal loan is a superior option because you could get decent interest rates, more time to repay, and higher loan amounts.

Online personal loans work just like traditional personal loans but offer far more perks. Online loans allow you to start and finish the approval process right from home. There is no need to travel to a brick-and-mortar location or spend time waiting in line. Online personal loans provide a faster process, so you can get financial relief in as little as one business day!

Applying for a CreditNinja Personal Loan

CreditNinja provides online personal loans for all types of borrowers. If you are looking for personal loans with a low minimum credit score requirement, consider applying for a CreditNinja online loan. We consider various financial factors for loan approval! Fill out the quick online inquiry form today to see if you qualify. 


  1. What is the average credit score in the U.S. by state? │ USA Today

Quick And Easy Personal Loans Up To $2500*