How to Get a Loan with Bad Credit

Borrowers with credit scores below 600 can still access personal loans — but rates run 25%–36% APR. The math matters: on a $5,000 loan at 35.99% APR over 36 months, total interest exceeds $3,000. Improving your score even 50 points can cut the rate significantly.

Strategies to qualify or lower your rate: add a creditworthy co-signer, use a secured loan (backed by savings or a vehicle), try credit unions (often more flexible than banks), or look at community development financial institutions (CDFIs). Payday loans and title loans should be last resorts — APRs often exceed 300%.