Credible takeaways
- A 600 credit score falls in the “fair” range.
- Some personal loan lenders approve fair credit borrowers while others don't.
- Finance companies tend to be more lenient than banks and credit unions.
You may find it difficult to get approved for a personal loan if you have a 600 score — especially if you apply with banks and credit unions. However, some lenders will approve borrowers with fair, and even bad, credit.
Credible works with multiple lenders that consider borrowers with a 600 credit score. But since plenty of lenders won't, it's important to be strategic about the lender you choose and put your best foot forward. Here's how.
Advertiser DisclosureOverview
Avant personal loans are a good choice for borrowers with bad credit looking for small- to moderate-sized personal loans. Loans are available up to $35,000 and you could get the money as soon as the next business day after approval. Plus, Avant is more likely than some lenders to approve the applications of borrowers who've prequalified with Avant. However, the lender charges an origination fee up to 9.99%, and its top-range interest rates are among the highest of the lenders we reviewed.
pros
- Borrowers with bad credit considered
- Funds as soon as the next business day
- 2-year loan terms available
cons
- No discounts offered
- Origination fee
- Not available in HI, IA, MA, ME, NY, VT, WV, WA, AP, AE, and AA
Fees
Origination fee, late fee, dishonored payment fee
Eligibility
Available in all states except HI, IA, MA, ME, NY, VT, WV, WA, AP, AE, and AA
Time to get funds
As soon as the next business day (if approved by 4:30 p.m. CT on a weekday)
Loan uses
Debt consolidation, emergency expense, life event, home improvement, and other purposes
Read full reviewOverview
Best Egg is a solid lender for a wide range of borrowers and, notably, scored second for personal loan satisfaction in J.D. Power's Consumer Lending Study. It offers competitive rates, reasonable loan terms and amounts, and personal loans for fair credit. You'll need a FICO score of at least 600 to qualify, but the lower your score, the higher your APR may be. The APR includes the interest rate and origination fees, which range from 0.99% to 9.99% with Best Egg.
Note that if you successfully prequalify with Best Egg, you may be more likely to be approved for the loan relative to other lenders you prequalify with. Based on Credible data, borrowers who chose to apply for a loan with Best Egg were more than twice as likely to be approved (relative to most other Credible partners).
pros
- Secured loans available
- Low minimum income requirement
- Scored second in J.D. Power's Consumer Lending Satisfaction Study
- Funds in 1-3 business days
- High close rate on loans through Credible platform
cons
- Origination fees
- No discounts
- Not available in DC, IA, VT, or WV
Fees
Origination fee, late fee, unsuccessful payment fee, check processing fee
Eligibility
Available in all states except DC, IA, VT, and WV
Time to get funds
As soon as 1 to 3 business days after successful verification
Loan uses
Credit card refinancing, debt consolidation, home improvement, and other purposes
Read full reviewOverview
OneMain Financial has multiple options for bad-credit personal loans. There is no minimum credit score required (if you apply directly with OneMain), which means you could get a loan with bad credit (FICO below 580). Plus, cosigners are allowed — a cosigner is someone (ideally, with good credit) who promises to repay the loan if you can't, which can make it easier to qualify or lower your rate. And, secured personal loans are available. You secure a loan with collateral, which may also help you qualify or lower your rate.
Rates are higher than competitors and OneMain charges origination fees as either a flat fee up to $500, or a percentage from 1% to 10% (depending on your state of residence). Note that even if you prequalify for a personal loan with OneMain, getting approved isn't a given.
pros
- Flexible eligibility requirements
- Offers secured options
- Competitive bad-credit loans
- Physical presence
cons
- Availability
- Origination fees
- High starting APR
- Low maximum loan amount
Fees
Origination fee, unsuccessful payment fee, late fee
Eligibility
Must have photo I.D. issued by U.S. federal, state or local government
Time to get funds
As soon as 1 to 2 days after acceptance
Loan use
All except business, and education
Read full reviewOverview
Prosper is the only remaining true P2P marketplace in the peer-to-peer lending space that connects borrowers with individual investors for some loans. If you apply for a loan with Prosper, the funding may come from an individual who has chosen to invest in you.
Prosper offers personal loans between $2,000 and $50,000 with terms between 2 and 5 years, and funding as soon as one business day. You can use a personal loan through Prosper for a variety of purposes, including debt consolidation and home improvement. The platform has excellent customer service reviews on Trustpilot, as well.
pros
- Offers peer-to-peer lending (individuals can invest in personal loans)
- Can fund in 1 business day
- Open to borrowers with fair credit
- Low minimum APR
cons
- Origination fee
- Not available in Iowa or West Virginia
- No discounts
Eligibility
Available in all states except IA and WV
Time to get funds
On average, within 5 days of accepting your offer
Loan uses
Debt consolidation, home improvement, vehicles, small business, new baby expenses, and other purposes
Read full reviewOverview
Reprise may be an excellent option if you need a loan with bad credit. The lender says it will consider applicants with FICO scores as low as 560, and offers secured loans as well as some cosigned loans to help you qualify. Loan funds can be available the next business day once you’re approved. Plus, the company has a 4.7 Trustpilot rating — indicating generally satisfied customers.
But Reprise is not for everyone. Available loan amounts are relatively low at $25,000, and the minimum repayment term is relatively high at three years. The lender also charges origination fees, does not offer discounts, and is not available nationwide.
pros
- Loans for bad credit
- 4.7 Trustpilot rating
- Secured loans available
- Cosigners considered
- Next-day funding available
- Easy to contact
cons
- Does not accept self-employment income as a primary source of income
- Minimum 3-year loan term
- Relatively low maximum loan amount ($25,000)
- Origination fees up to 6%
- Not available nationwide
- No mobile app
- No discounts for autopay or direct pay
Fees
$15 late fee except where the state has a different limit (ie. NM), return payment fees - $20 except where state has a different limit (ie – NM), and no prepayment penalty
Eligibility
Unavailable in CO, CT, HI, IA, ME, MD, MA, NV, NJ, NY, SD, VT, WA, and WV
Time to get funds
1-7 business days depending on loan security type
Loan uses
Credit card refinancing, debt consolidation, emergencies, major purchases, medical and dental expenses, moving expenses, special occasions, unexpected expenses, vacation and travel
Read full reviewOverview
Universal Credit is one of a handful of lenders that offers personal loans for bad credit. If your FICO credit score is at least 560, you may be eligible for a Universal Credit personal loan. It offers loan amounts up to $50,000, repayment terms up to seven years, and discounts for direct pay and autopay. Funds are available as soon as the next business day after loan approval.
Note that rates and fees can be relatively high — you may pay an origination fee from 5.25% to 9.99%, and APRs start at 11.69%. If you get a loan with a high interest rate, consider refinancing your personal loan at a lower rate once you've improved your credit score.
pros
- Borrowers with bad credit considered
- $25,000 annual income requirement
- Autopay and direct pay discounts available
- Can fund in one business day
cons
- High APRs
- Potentially high origination fees
- Not available in Iowa
Eligibility
A U.S. citizen or permanent resident; not available in DC, IA, SC, WV
Time to get funds
As soon as 1 business day after acceptance
Loan uses
Debt consolidation, pay off credit cards, home improvements, unexpected expenses, home and auto repairs, weddings, and other major purchases
Read full reviewOverview
Upgrade has a suite of features that make it a very attractive lender: competitive interest rates, discounts for direct pay and autopay, as soon as same-day funding, up to seven-year repayment terms, and nationwide availability. Plus, loans are available to fair-credit borrowers, and you don't need to input your Social Security number to prequalify on the website. Upgrade even offers secured personal loans, which is not common among lenders.
However, Upgrade does charge an origination fee of 1.85% to 9.99%. You must have a FICO score of at least 600 and a minimum income of $25,000 annually to qualify.
pros
- Fair credit borrowers eligible
- Autopay and direct pay discounts
- Can fund in as little as 1 business day
- Mobile app
- Secured loans available
cons
- High maximum origination fee
- Cosigners not accepted on home improvement loans
- Low J.D. Power ranking
Loan amount
$1,000 to $50,000 ($3,005 minimum in GA; $6,600 minimum in MA)
Loan uses
Credit card refinancing, debt consolidation, home improvement, major purchase, other
Read full reviewOverview
Upstart has one of the lowest available APRs of all Credible partner lenders and non-partners we reviewed, making it a good choice for well-qualified applicants. However, it's also one of few lenders that doesn't have a minimum credit score requirement (if you apply on the lender's website), which makes it an option if you have bad credit or no credit history. Upstart may charge an origination fee as high as 12%, but good-credit borrowers may not be charged one at all.
Trustpilot gives Upstart 4.9 stars, which is the highest of all lenders we reviewed.
pros
- May fund in 1 business day
- No minimum credit score requirement on lender site
- Low minimum APR
- Trustpilot score of 4.9/5 stars
cons
- May charge a high origination fee
- No discounts offered
Time to get funds
As soon as 1 to 3 business days
Loan uses
Pay off credit cards, consolidate debt, relocate, make a large purchase, and other purposes
Read full reviewOverview
Avant personal loans are a good choice for borrowers with bad credit looking for small- to moderate-sized personal loans. Loans are available up to $35,000 and you could get the money as soon as the next business day after approval. Plus, Avant is more likely than some lenders to approve the applications of borrowers who've prequalified with Avant. However, the lender charges an origination fee up to 9.99%, and its top-range interest rates are among the highest of the lenders we reviewed.
pros
- Borrowers with bad credit considered
- Funds as soon as the next business day
- 2-year loan terms available
cons
- No discounts offered
- Origination fee
- Not available in HI, IA, MA, ME, NY, VT, WV, WA, AP, AE, and AA
Fees
Origination fee, late fee, dishonored payment fee
Eligibility
Available in all states except HI, IA, MA, ME, NY, VT, WV, WA, AP, AE, and AA
Time to get funds
As soon as the next business day (if approved by 4:30 p.m. CT on a weekday)
Loan uses
Debt consolidation, emergency expense, life event, home improvement, and other purposes
Read full reviewOverview
Best Egg is a solid lender for a wide range of borrowers and, notably, scored second for personal loan satisfaction in J.D. Power's Consumer Lending Study. It offers competitive rates, reasonable loan terms and amounts, and personal loans for fair credit. You'll need a FICO score of at least 600 to qualify, but the lower your score, the higher your APR may be. The APR includes the interest rate and origination fees, which range from 0.99% to 9.99% with Best Egg.
Note that if you successfully prequalify with Best Egg, you may be more likely to be approved for the loan relative to other lenders you prequalify with. Based on Credible data, borrowers who chose to apply for a loan with Best Egg were more than twice as likely to be approved (relative to most other Credible partners).
pros
- Secured loans available
- Low minimum income requirement
- Scored second in J.D. Power's Consumer Lending Satisfaction Study
- Funds in 1-3 business days
- High close rate on loans through Credible platform
cons
- Origination fees
- No discounts
- Not available in DC, IA, VT, or WV
Fees
Origination fee, late fee, unsuccessful payment fee, check processing fee
Eligibility
Available in all states except DC, IA, VT, and WV
Time to get funds
As soon as 1 to 3 business days after successful verification
Loan uses
Credit card refinancing, debt consolidation, home improvement, and other purposes
Read full reviewOverview
OneMain Financial has multiple options for bad-credit personal loans. There is no minimum credit score required (if you apply directly with OneMain), which means you could get a loan with bad credit (FICO below 580). Plus, cosigners are allowed — a cosigner is someone (ideally, with good credit) who promises to repay the loan if you can't, which can make it easier to qualify or lower your rate. And, secured personal loans are available. You secure a loan with collateral, which may also help you qualify or lower your rate.
Rates are higher than competitors and OneMain charges origination fees as either a flat fee up to $500, or a percentage from 1% to 10% (depending on your state of residence). Note that even if you prequalify for a personal loan with OneMain, getting approved isn't a given.
pros
- Flexible eligibility requirements
- Offers secured options
- Competitive bad-credit loans
- Physical presence
cons
- Availability
- Origination fees
- High starting APR
- Low maximum loan amount
Fees
Origination fee, unsuccessful payment fee, late fee
Eligibility
Must have photo I.D. issued by U.S. federal, state or local government
Time to get funds
As soon as 1 to 2 days after acceptance
Loan use
All except business, and education
Read full reviewOverview
Prosper is the only remaining true P2P marketplace in the peer-to-peer lending space that connects borrowers with individual investors for some loans. If you apply for a loan with Prosper, the funding may come from an individual who has chosen to invest in you.
Prosper offers personal loans between $2,000 and $50,000 with terms between 2 and 5 years, and funding as soon as one business day. You can use a personal loan through Prosper for a variety of purposes, including debt consolidation and home improvement. The platform has excellent customer service reviews on Trustpilot, as well.
pros
- Offers peer-to-peer lending (individuals can invest in personal loans)
- Can fund in 1 business day
- Open to borrowers with fair credit
- Low minimum APR
cons
- Origination fee
- Not available in Iowa or West Virginia
- No discounts
Eligibility
Available in all states except IA and WV
Time to get funds
On average, within 5 days of accepting your offer
Loan uses
Debt consolidation, home improvement, vehicles, small business, new baby expenses, and other purposes
Read full reviewOverview
Reprise may be an excellent option if you need a loan with bad credit. The lender says it will consider applicants with FICO scores as low as 560, and offers secured loans as well as some cosigned loans to help you qualify. Loan funds can be available the next business day once you’re approved. Plus, the company has a 4.7 Trustpilot rating — indicating generally satisfied customers.
But Reprise is not for everyone. Available loan amounts are relatively low at $25,000, and the minimum repayment term is relatively high at three years. The lender also charges origination fees, does not offer discounts, and is not available nationwide.
pros
- Loans for bad credit
- 4.7 Trustpilot rating
- Secured loans available
- Cosigners considered
- Next-day funding available
- Easy to contact
cons
- Does not accept self-employment income as a primary source of income
- Minimum 3-year loan term
- Relatively low maximum loan amount ($25,000)
- Origination fees up to 6%
- Not available nationwide
- No mobile app
- No discounts for autopay or direct pay
Fees
$15 late fee except where the state has a different limit (ie. NM), return payment fees - $20 except where state has a different limit (ie – NM), and no prepayment penalty
Eligibility
Unavailable in CO, CT, HI, IA, ME, MD, MA, NV, NJ, NY, SD, VT, WA, and WV
Time to get funds
1-7 business days depending on loan security type
Loan uses
Credit card refinancing, debt consolidation, emergencies, major purchases, medical and dental expenses, moving expenses, special occasions, unexpected expenses, vacation and travel
Read full reviewOverview
Universal Credit is one of a handful of lenders that offers personal loans for bad credit. If your FICO credit score is at least 560, you may be eligible for a Universal Credit personal loan. It offers loan amounts up to $50,000, repayment terms up to seven years, and discounts for direct pay and autopay. Funds are available as soon as the next business day after loan approval.
Note that rates and fees can be relatively high — you may pay an origination fee from 5.25% to 9.99%, and APRs start at 11.69%. If you get a loan with a high interest rate, consider refinancing your personal loan at a lower rate once you've improved your credit score.
pros
- Borrowers with bad credit considered
- $25,000 annual income requirement
- Autopay and direct pay discounts available
- Can fund in one business day
cons
- High APRs
- Potentially high origination fees
- Not available in Iowa
Eligibility
A U.S. citizen or permanent resident; not available in DC, IA, SC, WV
Time to get funds
As soon as 1 business day after acceptance
Loan uses
Debt consolidation, pay off credit cards, home improvements, unexpected expenses, home and auto repairs, weddings, and other major purchases
Read full reviewOverview
Upgrade has a suite of features that make it a very attractive lender: competitive interest rates, discounts for direct pay and autopay, as soon as same-day funding, up to seven-year repayment terms, and nationwide availability. Plus, loans are available to fair-credit borrowers, and you don't need to input your Social Security number to prequalify on the website. Upgrade even offers secured personal loans, which is not common among lenders.
However, Upgrade does charge an origination fee of 1.85% to 9.99%. You must have a FICO score of at least 600 and a minimum income of $25,000 annually to qualify.
pros
- Fair credit borrowers eligible
- Autopay and direct pay discounts
- Can fund in as little as 1 business day
- Mobile app
- Secured loans available
cons
- High maximum origination fee
- Cosigners not accepted on home improvement loans
- Low J.D. Power ranking
Loan amount
$1,000 to $50,000 ($3,005 minimum in GA; $6,600 minimum in MA)
Loan uses
Credit card refinancing, debt consolidation, home improvement, major purchase, other
Read full reviewOverview
Upstart has one of the lowest available APRs of all Credible partner lenders and non-partners we reviewed, making it a good choice for well-qualified applicants. However, it's also one of few lenders that doesn't have a minimum credit score requirement (if you apply on the lender's website), which makes it an option if you have bad credit or no credit history. Upstart may charge an origination fee as high as 12%, but good-credit borrowers may not be charged one at all.
Trustpilot gives Upstart 4.9 stars, which is the highest of all lenders we reviewed.
pros
- May fund in 1 business day
- No minimum credit score requirement on lender site
- Low minimum APR
- Trustpilot score of 4.9/5 stars
cons
- May charge a high origination fee
- No discounts offered
Time to get funds
As soon as 1 to 3 business days
Loan uses
Pay off credit cards, consolidate debt, relocate, make a large purchase, and other purposes
Read full review1. Confirm your 600 credit score
Before applying for a loan, take stock of your credit situation. Start by checking your credit reports with the three main credit bureaus: Experian, Equifax, and TransUnion. You can get free weekly reports from all three at AnnualCreditReport.com. If you find a mistake, file a dispute with the bureau providing the information.
Next, check your credit scores. FICO is the main credit scoring model in the U.S., but VantageScore is gaining popularity. Lenders may check either score tied to any of the three credit reporting bureaus, so it's good to check them all. While some companies charge you to view your credit scores, others like these include credit scores for free with their memberships:
- Experian offers free FICO scores from Experian
- MyFico offers free FICO scores from Equifax
- Discover offers free FICO scores from TransUnion
- OneMain Financial offers free VantageScores from Experian
- Equifax offers free VantageScores from Equifax
- Credible offers free VantageScores from TransUnion

Tip:
Check with your bank, credit card company, lender, or other financial service providers. You may already have access to one or more of your credit scores.
The next step is to figure out how much you need to borrow. Brainstorm how you plan to use the personal loan and estimate the costs.
For example, if you plan to pay off two credit cards and a medical bill, look up the outstanding balances and add them together. Borrowing too little can leave you unable to accomplish your goal while borrowing too much can lead to unnecessary debt and borrowing costs.
3. Review your budget for the monthly payment
Personal loans require you to repay the amount you borrow through fixed payments over a set number of months. Before applying, review your budget to see how much discretionary income you have and how much you're willing to put toward a monthly loan payment.
Identify your target monthly payment as well as the maximum you're willing to pay per month. Having these numbers on hand can prevent you from overcommitting as you shop for a loan.

Tip:
If you’re getting a 600 credit score loan to consolidate debt, budget for a monthly payment that’s less than or equal to what you’re currently paying on those debts.
Related: How Does Debt Consolidation Work?
4. Gather important documents
Personal loan lenders typically require a few documents during the application process, including:
- Proof of identity: A copy of your driver's license or Social Security card
- Proof of income: Pay stubs, W-2s and 1099s, tax returns, or bank statements
- Proof of residence: Utility bill, rental agreement, mortgage statement, home or auto insurance, bank or credit card statement, voter registration card, or property tax receipt
You can avoid delays during the loan origination process by getting these ready in advance.
Check Out: What Are the Requirements for a Personal Loan?
5. Research lenders
Now you're ready to start shopping around. As you do, it's important to know that personal loan lenders vary greatly in their loan offerings and eligibility requirements.
“If someone has a credit score of 600, they should look for lenders who specifically work with those who have 'fair' credit. They are most likely to offer fair terms and agreements,” says Ryan Duitch, CEO of Arro Finance, a credit card for people with low or no credit scores.
You can find good fits by checking the eligibility requirements of lenders to see if they mention a minimum credit score or use terms like “helping underserved communities.”

Good to know
Fair credit lenders tend to have lower maximum loan limits and higher APRs (around 36%) than lenders that target borrowers with higher credit scores.
“Be careful with lenders that advertise 'bad credit' loans. Sometimes, less trustworthy companies target borrowers with lower scores,” says Joseph Camberato, CEO of National Business Capital. Make sure the loan's APR is clearly displayed and pass on a lender that employs pressure tactics.
The goal in this step is to make a list of at least three lenders that look like they could be a good fit for your situation. For example, if you have a 600 credit score and are looking for a $10,000 loan, Upstart could be a good lender to add to your list. It considers applicants with credit scores below 600 and offers loan amounts from $1,000 to $50,000.
6. Get prequalified
Once you have a shortlist of at least three lenders, visit each lender's website and go through the prequalification process or use a personal loans marketplace to prequalify with multiple lenders at once. Most lenders allow you to check if you prequalify within a few minutes without hurting your credit.
During the process, lenders will collect basic information about you, the loan you want, and your credit (through a soft credit check). If you prequalify, the lender will present you with an estimate of the loan you may get.

Important:
Once you move forward with a prequalification quote and apply, most lenders will conduct a hard credit check, which could lower your credit score by a few points for up to one year.
If you're struggling to prequalify, consider reducing your debt-to-income ratio (DTI) by paying down balances. High balances could be contributing to a high debt-to-income ratio. If you can pay some balances down or off, you could lower your current monthly payments and may have an easier time getting approved for a new loan.
7. Compare quotes
To find a competitive deal, compare the quotes you received side by side. Look at APRs, origination fees, monthly payments, total interest costs, repayment terms, and loan amounts.
Rates are a good place to start, but make sure you can afford the monthly payment — a higher rate on a longer-term loan might actually have a lower monthly payment. “Being able to repay your loan is crucial in keeping your credit score healthy,” says Duitch.
Use a personal loan calculator to test out different interest rate, loan amount, and repayment term combinations. Consider making a chart like the one below so you can see the pros and cons of different loans at a glance.
Example comparison of personal loan quotes
- Target loan amount: $5,000
- Target monthly payment amount: $200
- Maximum monthly payment limit: $225
In this scenario, the first quote has the lowest overall cost and APR but doesn't provide a large enough loan amount. Quote three has the lowest monthly payment but the overall cost is significantly higher than the other options.
Quote two looks to be the best route. While the monthly payment is a bit over the target, it's under the maximum limit and provides the desired loan amount with a competitive overall cost.
Check Out: How To Compare Personal Loans
8. Select a lender and apply
Once you find the best loan for your situation, go back to the lender's website or loan marketplace and accept the quote. From there, you'll complete the full loan application.
Lenders will dig deeper into your income, expenses, employment, and credit as part of their underwriting process. Most perform a hard credit inquiry at this stage that may cause your credit score to drop by up to five points. Keep in mind that the interest rate and terms of the loan offer could be different from the prequalified quote.
Learn More: Does Applying for a Loan Hurt Your Credit Score?
9. Submit the necessary documents
As the lender reviews your application, it may ask for documentation to confirm your income and housing status. However, the process for submissions can vary by lender.
Some may ask you to send pictures or scans of hard documents, while others may offer more advanced features like bank syncing. The bottom line is lenders will need to do their due diligence to ensure everything you've submitted is accurate.
10. Accept the loan and start making payments
If all goes well and you're approved for the loan, the lender should send you a loan contract to review and sign. In many cases, contracts are electronic and sent through secure portals.
Once you receive it, review the terms carefully to ensure everything works for you. If it does, sign and submit it. The lender will then send the loan funds to you and your repayment schedule will begin.
Related: How Long Does It Take To Get a Personal Loan?
Interest rates and loan amounts by credit score
Borrowers with high credit scores are the most likely to qualify for the lowest interest rates and highest loan amounts. But that doesn’t mean you can’t qualify for a loan with bad or fair credit. Here’s a look at the average rates borrowers with different credit scores got, as well as their median income.
Personal loan interest rates by credit score
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Excellent (800 and above) | | | |
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Based on Credible user data between April 2024 and March 2025. Source: Credible
If you have bad credit, increase your approval odds by improving your credit before you apply, applying with a cosigner, or applying with a joint applicant.
How to raise your credit score
If you shop around but don't find a suitable personal loan or are denied a personal loan, work on improving your credit score. Here are some steps you can take:
- Make timely payments: Make all of your credit payments on time. Payment history accounts for 35% of your FICO credit score, the largest factor. Late payments count against you and stay on your record for 7 years.
- Keep credit utilization low: If you have revolving credit lines like credit cards, keep the balances as low as possible. Aim for no greater than 30% credit utilization. Credit utilization is a component of the “amounts owed” factor, which makes up 30% of your credit score.
- Limit new credit: Be mindful about the credit accounts you open, as they typically require hard credit inquiries and shorten your average credit account age, both of which can hurt your score. New credit and length of credit history contribute 10% and 15% to your score, respectively.
- Add bills to your credit report: Experian Boost is one example of a free program that lets you add bills and rent payments to your Experian credit report. You can self-report rent payments for free to all 3 credit bureaus with a service like Self. Research these and other rent- and bill-reporting services to find the best for you.
- Check for drop-off dates: If you have negative marks, check the dates they'll drop off your reports. Most items only stay on credit reports for 7 years. If negative marks are going to drop off soon, score improvements will likely follow.
- Become an authorized user: If you have a close friend or family member willing to make you an authorized user on their credit card, you could see a boost in your own score within a month — as long as they make on-time monthly payments and maintain a low or zero balance. High balances and late payment activity on their part could impact your credit report and score.
Camberato recommends you start by trying to figure out what's pulling your score down. “Is it high balances, missed payments, or something else? This will give you a clear starting point.” He adds that you often can't improve your credit score overnight, but if you stick with it, you'll see real progress over time.
FAQ
Is 600 a good credit score?
Open
A 600 credit score falls into the lower end of the “fair” category, which ranges from 580 to 669 in the FICO credit scoring model. It's better than “poor” but is not considered “good.”
Can you get a personal loan with a 600 credit score?
Open
You may be able to get a personal loan with a 600 credit score from lenders that cater to fair-credit borrowers. To improve your odds, find lenders that have a minimum credit score requirement lower than or equal to your score.
Some lenders, like Upstart, use AI-assisted underwriting to make loans more available to borrowers with compromised credit and to underserved communities.
How much can I borrow with a 600 credit score?
Open
The loan amount you can borrow is based on a variety of factors including your credit score, your income, your DTI, the lender's loan limits, and more. The best way to estimate how much a lender will let you borrow is to request a quote.
Read more: How Much of a Personal Loan Can I Get?Does a personal loan hurt your credit?
Open
Getting a personal loan can cause an initial drop in your credit score with subsequent gains if managed wisely. A hard inquiry for new credit, a new account on your report, and an increase in the amounts you owe could all bring your score down.
But if you use the loan to consolidate credit card debt, you could see quick and significant gains once those cards are paid off. And over time, the loan can help your score as you build a track record of on-time payments.
Read more: How Does a Personal Loan Affect Your Credit Score?What are personal loans used for?
Open
The beauty of personal loans is that they can be used for a number of purposes, with a few exceptions. But not all lenders will approve all loan purposes.
You'll need to specify what you want to use the loan for when you apply. Some common uses include funding home renovations, emergency expenses, debt consolidation, moving expenses, weddings, funerals, and medical bills.
Read more: What Are Personal Loans Used For?Disclosure: Some lending partners that participate in Credible’s comparison marketplace offer loans to borrowers with scores as low as 550. Borrowers with low scores will have fewer lending options than borrowers with higher credit scores.
Meet the expert:
Jessica Walrack
Jessica Walrack is an experienced freelance writer who has spent more than 11 years in personal finance, with expertise on loans, insurance, banking, mortgages, credit cards, budgeting, and taxes. Her work has been published by CNN, CBS MoneyWatch, U.S. News & World Report, and USA Today.