Getting approved for a loan when you have bad credit can be difficult. Similar to other financial services, borrowers must submit an application with their income information and agree to a credit check before getting a loan. Since lenders prefer to work with borrowers who have a reputable track record, you may be caught in a challenging situation.
Fortunately, we created a list of the best bad credit loans with instant approval. These lenders can provide you with immediate cash relief even with a poor credit score. However, bad credit lenders typically charge higher interest rates and fees. So, make sure the lender you choose offers adequate rates and terms based on your own financial situation.
So, let’s dive into the list of the top 10 loans for bad credit.
Top 10 Best Bad Credit Loans
- MoneyMutual – Best Overall
- CashUSA – Best for Fast Cash
- BadCreditLoans – Best for Exceptionally Low Credit Scores
- PersonalLoans – Best for Fast Installment Loans
- Funds Joy Loans – Best for Quick Loans
- Credible – Best for High Loan Amounts
- LendingTree – Best for Reputable Loan Marketplace
- AmOne – Best for Fast Loan Applications
- Avant – Best for Debt Consolidation
- Citrus-Loans – Best for Emergency Loans
MoneyMutual – Best Overall
MoneyMutual serves as an online marketplace for personal loans. This lending service has an excellent track record of assisting people with low credit scores and helping them get the money they need. Trusted by over 2,000,000 customers, you can take out a cash advance or personal loan with MoneyMutual.
Application Process: 4.5/5
MoneyMutual makes it quick and easy to apply for a loan. The minimal application form takes a few minutes to complete, and you must provide your Social Security number, driver’s license ID, and bank account routing number.
Loan Amount Limits: 4.5/5
MoneyMutual’s loan amount limits range from $100 to $5,000. Since MoneyMutual is a loan marketplace, it offers a wide variety of lending options. Therefore, each lender has its own minimum loan amount and terms.
Rates and Fees: 4/5
As a lending marketplace, MoneyMutual does not charge extra fees to apply for or receive a loan. Nonetheless, the lenders in the network may charge late payments, origination, or other fees. For this reason, it’s important to read the loan’s terms before applying.
Turnaround Time: 5/5
MoneyMutual is the best bad credit loan because it offers instant approval. This is because MoneyMutual can match you with a potential lender in less than two minutes. Furthermore, the loan can be sent to your bank account within 24 hours, depending on which offer you agree to.
Repayment Terms: 4.5/5
Your specific repayment terms depend on which lender MoneyMutual matches you with. However, you can expect repayment terms anywhere from 3 to 60 months. This gives you a lot of time to repay your loan without too much financial burden.
Customer Support: 5/5
You can contact MoneyMutual via email at customerservice@moneymutual.com. If you need to speak with an agent immediately, give them a call at (844) 276-2063.
- More than 10 years of experience
- Loans up to $5,000
- Quick application process
- Unavailable in IL, CT, and NY
CashUSA – Best for Fast Cash
If you’re in a pinch and need money quickly, you may be desperate enough to take on a funding source with high interest rates and fees. However, you don’t need to turn to these riskier funding sources and rack up more debt.
This is because CashUSA offers the fastest online application for personal loans for bad credit. With CashUSA’s wide network of lenders, you can be approved for a loan immediately. As one of the most reputable online lending platforms, CashUSA is an excellent choice for individuals with poor credit scores.
Application Process: 5/5
CashUSA offers a speedy application process that’s simple to fill out. Once you fill out the online form and explain how much money you want to borrow, CashUSA performs a soft credit check before matching you with a lender. However, since it’s a soft credit check, individuals with low credit scores don’t need to worry about getting denied.
Loan Amount Limits: 4.5/5
CashUSA has a minimum loan amount of $500. Furthermore, the maximum amount you can borrow from a CashUSA lender is $10,000. The amount you can borrow depends on your credit report. Also, the lowest credit score you can have to secure a loan is 579.
Rates and Fees: 4.5/5
Since you likely have a bad credit score, your interest rate on your loan may go up to 35.99%. On the other hand, the lowest interest rate CashUSA offers is 5.99%. It depends on your credit score and how much money you want to borrow.
Turnaround Time: 5/5
As the best bad credit loan for fast cash, CashUSA has an outstanding turnaround time. The application process takes less than five minutes, and the approval will come in soon after that. Furthermore, if approved for the loan, you can expect CashUSA to send the amount to your bank account within one business day.
Repayment Terms: 4.5/5
CashUSA’s network of lenders has repayment terms from 90 days to 72 months.
Customer Support: 4.5/5
If you need help, you can email CashUSA at support@cashusa.com. Furthermore, you can call them directly at (866) 973-6587.
- Can borrow up to $10,000
- Origination fee-free
- Receive money the next day
- Not a direct lender
- Relatively high APR
BadCreditLoans – Best for Exceptionally Low Credit Scores
BadCreditLoans features one of the most extensive lending networks in the United States. Founded in 1998, BadCreditLoans provides loans up to $10,000 without any application fees.
In addition to personal loans, BadCreditLoans also offers installment loans such as auto loans, emergency loans, home loans, small business loans, mortgage loans, and debt consolidation loans.
Application Process: 4.5/5
Similar to the previous two options, BadCreditLoans features a quick application form that takes around five minutes to complete. You must provide your driver’s license and bank account deposit information.
Loan Amount Limits: 4.5/5
The lenders at BadCreditLoans offer loan amounts of $500 to $10,000. Best of all, you can apply for a loan with BadCreditLoans even if your credit score is 500 or lower. Therefore, BadCreditLoans is one of the best lenders for individuals with drastically low credit scores.
Rates and Fees: 4.5/5
BadCreditLoan’s lenders have similar interest rates to CashUSA, ranging from 5.99% to 35.99%. It’s impressive how BadCreditLoan offers competitive interest rates even with the low minimum credit requirement. However, you are subject to a higher APR if your credit score is less than 570.
Turnaround Time: 5/5
Once you fill out the online form, you must wait for one to two minutes for BadCreditLoans to match you with a list of potential lenders. You can then choose the loan with terms that work best for your specific situation. After you accept the loan, the money is sent to your bank account within a single business day.
Repayment Terms: 4/5
Loans from BadCreditLoans lenders carry repayment terms of 90 days to 72 months.
Customer Support: 4.5/5
You can submit a message through the contact form on the website. However, you can also contact BadCreditLoans through email at support@badcreditloans.com. For emergencies, you can call the hotline at 1-(800) 245-5626.
- Easy to find lenders
- Free service
- Can borrow up to $10,000
- Borrowers with extremely poor credit receive lower loan amounts
- No BBB Accreditation
PersonalLoans – Best for Fast Installment Loans
Providing loans for nearly two decades, PersonalLoans is one of the most reputable online lending solutions available. This lending platform doesn’t require a minimum credit score to get approved for a loan, making it an excellent option for fast installment loans.
Application Process: 5/5
PersonalLoans carries a simple application process that takes around five minutes to complete. Make sure to have your bank account information ready, so the lender knows where to deposit your loan.
Loan Amount Limits: 4/5
Uniquely, the minimum loan amount you can receive from PersonalLoans is $1,000. This is a higher minimum loan amount limit than the previous options on today’s list. Furthermore, since BadCreditLoans doesn’t require a minimum credit score, you will receive higher rates if your credit score is under 570.
Rates and Fees: 4.5/5
There are no application or finder fees at PersonalLoans. Furthermore, the offered APR varies from 5.99% to 35.99%, depending on your credit score.
Turnaround Time: 5/5
PersonalLoans matches you with potential lenders one to two minutes after you submit the online form. After you agree to the loan and sign your e-signature, the loan amount is electronically deposited into your bank account within the next business day.
Repayment Terms: 4.5/5
Repayment terms range from 3 to 72 months at PersonalLoans.
Customer Support: 4.5/5
You can reach PersonalLoans via email at support@personalloans.com. Furthermore, you can speak with a customer service agent by calling 1-(800) 772-2274. These reps are available Monday through Friday from 6 a.m. to 7 p.m. Pacific time.
- Rapid application process
- No upfront or origination fees
- Secured and unsecured loans up to $35,000
- No BBB accreditation
- Unavailable in a few states
Funds Joy Loans – Best for Quick Loans
Funds Joy Loans is growing as one of the top direct lenders in the market for fast cash. This lending platform offers instant loans to individuals with poor credit scores. Best of all, Funds Joy Loans provides same-day loans with a quick application process.
Application Process: 4.5/5
Funds Joy Loans has an easy application process that takes just a few minutes to complete. You must also provide your driver’s license or state ID and checking account deposit information.
Loan Amount Limits: 3.5/5
You can quickly qualify for a loan of at least $200 at Funds Joy Loans. In addition, the maximum amount you can receive from Funds Joy Loans is $2,500.
Rates and Fees: 3/5
The interest rates Funds Joy Loans lenders offer range from 4.99% to 450%. In addition, there are several lenders that also offer cash advance loans with interest rates ranging from 200% to 1386%.
Turnaround Time: 4.5/5
Although the application process takes less than five minutes, it may take up to 10 minutes for Funds Joy Loans to match you with potential lenders.
Repayment Terms: 4/5
Funds Joy Loans offers flexible repayment terms for up to 72 months, giving you time to get your finances back on track.
Customer Support: 3/5
The only way to get in touch with Funds Joy Loans is by sending them a message through the website’s contact page.
- Can borrow unsecured personal loans up to $2,500
- Easy application process
- No additional fees
- Potentially high APR
- Relatively low minimum loan amounts
Credible – Best for High Loan Amounts
Credible is an excellent option if you want to rebuild your credit score. With a soft credit check, Credible offers loans to individuals with poor credit scores. In addition, this reputable lending platform carries top-notch lenders, such as Sallie Mae and Rocket Mortgage. Therefore, you can find a trustworthy lender with agreeable terms quickly.
Application Process: 4.5/5
Credible’s online application takes less than five minutes to finish. You should prepare your Social Security number and driver’s license to help verify your identity.
Furthermore, you must create a Credible account to keep track of your loan application status and debt balances.
Loan Amount Limits: 5/5
Credible offers personal loans ranging from $600 to $100,000. However, you must have a credit score of at least 600 for guaranteed approval on your loan request. Although you can still apply for a loan with a credit score lower than 600, Credible may ask you to add a co-signer to improve your chances of approval.
Rates and Fees: 4.5/5
Credible is an online lending platform with many lenders. These lenders offer interest rates from 3.99% to 35.99%. Therefore, credible features some of the lowest interest rates you can receive with a bad credit score.
Furthermore, even though it’s free to use Credible’s lending platform, make sure to read the fine print of your loan terms to see if the lender charges any additional fees.
Turnaround Time: 4/5
You will receive a list of potential lenders within a few minutes after you submit your online application at Credible. However, you may need to wait longer if you have an extremely poor credit score. Adding a co-signer improves your odds of finding a lender, and your application is valid for two weeks after you add the co-signer.
Repayment Terms: 4/5
Credible offers kindly repayment terms from 12 to 84 months. This gives you enough time to get out of debt and start anew without the strain of high monthly payments.
Customer Support: 4.9/5
You can contact Credible via email at support@credible.com. Furthermore, you can call a customer service rep at (866) 540-6005.
- Can have cosigners
- Multiple loan options
- Potentially low APR
- Can borrow personal loans up to $100,000
- Must have a 600 credit score or more for guaranteed approval
LendingTree – Best for Reputable Loan Marketplace
As one of the best bad credit loans with instant approval, LendingTree has a long and reputable history of helping people just like you. Created in 1996, LendingTree has been servicing individuals with poor credit for over 25 years. This lending platform offers a wide range of financial products, including business loans, personal loans, and debt consolidation.
LendingTree also provides a mobile app you can use to check your credit score report. Therefore, LendingTree is an excellent option for those searching for a way to build their credit scores.
Application Process: 5/5
LendingTree has a simple application process that takes less than five minutes to submit. In addition, you have the option to add a co-signer if you have a low credit score and want to improve your chances of getting matched with the best lenders on the platform.
Loan Amount Limits: 4.5/5
The minimum unsecured personal loan amount is $1,000 at LendingTree. Alternatively, the maximum amount you can receive is $50,000. We only recommend applying for $50,000 if you have a relatively high credit score or have a co-signer on the loan.
A suitable credit score for guaranteed approval at LendingTree is 670. However, LendingTree is still willing to assist you if you have a lower credit score and will match you with appropriate lenders.
Rates and Fees: 4/5
Since LendingTree offers an extensive range of financial services, it charges origination fees of 3% to 6%. However, the APR varies from 7.04% to 35.89%, depending on the lender and your credit score.
Turnaround Time: 5/5
Just like most of the best bad credit loans on today’s list, LendingTree matches you with a list of potential lenders in one to two minutes. Make sure to closely inspect the terms on each loan and compare the options before making a decision.
Repayment Terms: 4/5
The repayment terms for a LendingTree loan vary depending on which lender your choose. However, the repayment terms can range from 24 to 144 months, so we recommend comparing offers before making a decision.
Customer Support: 5/5
You can send LendingTree a message on the website’s contact page. However, you can also reach them by telephone at 1-(800) 813-4620. The website’s contact page lists LendingTree’s operating hours.
- Multiple loan options
- Can borrow up to $1,000
- Option to add co-borrowers
- Mobile app availability
- 3% minimum origination fee
AmOne – Best for Fast Loan Applications
AmOne is an industry leader when it comes to personal loans for bad credit. Founded in 1999, AmOne offers personal loans and other installment loans such as bad credit business loans. AmOne has assisted over 13 million individuals in finding the right loans for their needs. As such, this is one of the most reputable and trusted online lending platforms for bad credit scores.
Application Process: 4.5/5
It takes less than five minutes to finish and submit your AmOne loan application. You will be asked to provide your Social Security number and address, so ensure this information is readily available.
Loan Amount Limits: 4.5/5
AmOne’s loan amounts range from $1,000 to $50,000. However, AmOne gives higher loan amounts to people with higher credit scores. Nonetheless, it’s worth submitting an application because it won’t affect your credit. This is because AmOne conducts a soft credit inquiry.
Rates and Fees: 4/5
AmOne features an extensive network of lenders with competitive interest rates fluctuating from 4.99% to 35.99%. Also, there are no upfront costs or origination fees at AmOne.
Turnaround Time: 5/5
This lending platform offers incredibly fast turnaround times. Once you submit your application, AmOne provides a list of loan offers in less than three minutes. Then, after you agree to a specific loan, you can expect the money to hit your bank account within one business day.
Repayment Terms: 4/5
AmOne offers loan repayment terms between 24 to 84 months.
Customer Support: 4.5/5
You have the option of sending a message to an AmOne support agent directly on the website’s Contact page. In addition, you can call a loan representative at 1-(800) 781-5187. These experts are available to speak on Mondays to Fridays between 9 a.m. and 9 p.m. Eastern time. They are also available on Saturdays from 9 a.m. to 5:30 p.m. Eastern time.
- Can borrow up to $50,000
- BBB accreditation
- Extensive network of personal loan lenders
- Customer complaints about needless phone calls
Avant – Best for Debt Consolidation
Avant is an outstanding choice for individuals with less-than-amazing credit. This is because you can qualify for a personal loan with a credit score as low as 580. In addition, you can use your Avant loan for many purposes, such as consolidating existing debt into a single payment or paying for unexpected expenses.
In addition to personal loans, Avant offers an Avant MasterCard you can use for credit cash advances. This card carries a limit of $300 to $3,000. Avant also has a mobile app that helps you organize your existing debt.
Application Process: 4.5/5
You can finish your Avant loan online application in less than six minutes. However, make sure to have your Social Security number ready, as well as other personal information such as your email address, full name, home address, and phone number. Overall, the application is straightforward and quick.
Loan Amount Limits: 4.5/5
The lenders in the Avant network offer loans ranging from $2,000 to $35,000. However, the loan amount Avant approves you for depends on your credit score. Since Avant doesn’t conduct a hard credit inquiry, submitting an application won’t affect your credit score.
Rates and Fees: 4.2/5
Avant charges an administration fee of up to 4.75% on your loan amounts. Furthermore, you can expect an APR on your loan ranging from 9.95% to 35.99%. Although the minimum APR is higher than other bad credit loans, Avant makes up for it by providing you with flexible repayment terms.
Turnaround Time: 4/5
On the lengthier side of waiting times, Avant provides a list of loan offers in up to 10 minutes. In addition, Avant sends an email of the potential lenders it has based on your credit score. Therefore, entering your correct personal information is crucial for your application to go through.
Repayment Terms: 4/5
Avant provides flexible repayment terms from 24 to 60 months.
Customer Support: 5/5
Avant offers the best customer support out of all the options on our list of the best bad credit loans with instant approval. This is because Avant carries a live chat option inside its mobile app.
However, you can also send an email to support@avant.com or call a customer support agent at (800) 712-5407. The live chat staff and phone reps are available from Mondays to Fridays from 7 a.m. to 10 p.m. and on weekends from 7 a.m. to 8 p.m. Central time.
- Lines of credit
- Can borrow up to $35,000
- Relatively low APR
- May charge origination fees
- Income documentation may be required
Citrus-Loans – Best for Emergency Loans
Citrus Loans is our recommended lender when you’re in a stressful financial situation and need an emergency loan. This lending platform matches borrowers with low credit scores with potential lenders in just a few minutes. Furthermore, Citrus Loans is an excellent option for cash advance loans.
Application Process: 4.5/5
The Citrus Loans online application takes less than five minutes to complete. Inside the online form, Citrus Loans asks you for your Social Security number, driver’s license number, and your bank account number. Also, you must be 18 years or older to qualify for a loan.
Loan Amount Limits: 3.5/5
We only recommend Citrus Loans for short-term loans and emergency situations. This is because you can borrow a minimum amount of $100 and a maximum of $2,500. Furthermore, you can apply for a Citrus Loans loan with a sub-600 credit score.
Rates and Fees: 3.4/5
Since Citrus Loans carries payday loans, you can expect above-average interest rates. As such, the APR offered by Citrus Loans lenders ranges from 261% to 1304%. In addition, Citrus Loans does not charge an origination or service fee.
Turnaround Time: 4.9/5
Citrus Loans displays a list of potential lenders one to two minutes after you submit your online form. If Citrus Loans can’t find a suitable lender, it will send you to another online loan resource that may be able to assist you.
Repayment Terms: 4/5
Citrus Loans offers repayment terms from 14 days to 24 months.
Customer Support: 4/5
You can contact the Citrus Loans customer service team by calling them at (888) 372-6219. This is the only way to get in touch with the customer support staff.
- Can borrow up to $2,5000
- No additional fees
- A member of the Online Lenders Alliance
- Relatively high APR
Loans For Bad Credit Methodology
Now that you understand the top 10 best bad credit loans with instant approval, it’s important to discuss how we compiled this list. We based our decisions on the most crucial factors in a bad credit loan, such as the application process, loan amounts, and fees.
So, let’s take a closer look at each of the core factors to consider when choosing loans for bad credit.
Application Process:
Fortunately, the application process for each of the options above is quick and painless. We understand you may already be in a stressful situation due to your financial situation, and we wanted to make it as easy as possible for you to find a bad credit loan. Therefore, you will be able to find a suitable online lender in less than 20 minutes with any of the options above.
Loan Amount Limits:
Another important factor to consider is how much money each lender offers. However, since you have a poor credit score, you shouldn’t expect to get approved for the maximum loan amounts. Instead, you can start with lower loan amounts and build your credit with payday loans or short-term loans.
Rates and Fees:
Luckily, many online lending platforms are here to help rebuild your credit score. Therefore, your loan may receive a lower-than-expected interest rate. However, individuals with extremely low credit scores may be unable to avoid high interest rates and fees.
Nonetheless, most lending platforms don’t charge additional fees and act as a free service that matches you with potential lenders. This is exactly what bad credit loans like Credible and CashUSA do.
Turnaround Time:
We only chose bad credit lending platforms with speedy turnaround and approval times. Therefore, you can expect to see a list of loan offers in less than 10 minutes. However, it may take a bit longer depending on your credit score and how much money you ask for.
Repayment Terms:
Since you’re likely under financial stress already, we chose lending platforms with flexible repayment terms. This means you’ll have more than enough time to repay your loan amount and rebuild your credit score.
Customer Support:
Since you’re dealing with an online lender, it’s important for the platform to offer above-average customer support. This is because there are no physical branches you can walk into and get help. The best bad credit loans offer a phone number you can call whenever an issue or inquiry arises. Furthermore, they should offer speedy email support.
Personal Loans For Bad Credit: FAQs
Top 5 Best Bad Credit Loans: Overview
1. MoneyMutual
- More than 10 years of experience
- Loans up to $5,000
- Quick application process
2. CashUSA
- Can borrow up to $10,000
- Origination fee-free
- Receive money the next day
3. BadCreditLoans
- Easy to find lenders
- Free service
- Can borrow up to $10,000
4. PersonalLoans
- Rapid application process
- No upfront or origination fees
- Secured and unsecured loans up to $35,000
5. Funds Joy Loans
- Can borrow unsecured personal loans up to $2,500
- Easy application process
- No additional fees
Final Thoughts on Best Bad Credit Loans
This concludes our list of the best bad credit loans with instant approval. Hopefully, you’ve chosen which online lending platform is the best for you by now.
Our top pick is MoneyMutual because it’s a trustworthy lending platform with low interest rates for individuals with poor credit history. MoneyMutual is also one of the best reputable payday lenders. Therefore, you can have peace of mind knowing MoneyMutual is entirely safe to use.
If you don’t need a personal loan and are looking for other options, you can look closely at platforms such as LendingTree, Credible, and BadCreditLoans.
Although you may have a poor credit score right now, that doesn’t mean you can’t take action to rebuild it. The online lending solutions we listed in today’s guide will help you get back on your feet in no time.
However, make sure to read the loan terms carefully so you can confidently make the monthly payments.