Tips for Comparing Personal Loans for Bad Credit

Tips for Comparing Personal Loans for Bad Credit

Even though Upstarts three- and five-year loan terms are more restrictive than other lenders, it’s likely to be an acceptable tradeoff for applicants who might www.rapidloan.net/title-loans-mt not be approved in a more traditional lending environment. Plus, it’s available in every state except West Virginia and Iowa, so it’s as widely available as many other top lenders.

We reviewed 18 popular lenders based on 14 data points in the categories of loan details, loan costs, eligibility and accessibility, customer experience and the application process

  • Accessible to borrowers with fair credit
  • Offers prequalification with a soft credit check
  • Ability to choose a custom payment date

We reviewed 18 popular lenders based on 14 data points in the categories of loan details, loan costs, eligibility and accessibility, customer experience and the application process

  • Charges an origination fee up to 8% of the loan amount
  • No secured or co-signer option
  • Loans only available for three- or five-year terms

Eligibility: Upstart stands out because it uses an AI-based platform to consider a range of non-conventional variables when evaluating borrower applications.