Recently, we received a lot of inquiries from our readers about the loans. However, most readers have the same situation “I need a loan but I have bad credit”. So for those with bad credit, whether owning a loan is difficult or not? How can owning a loan with bad credit? 

I need a loan but I have bad credit
I need a loan but I have bad credit

Are you looking for personal loans for bad credit in the US but you do not have good credit score? Do not worry too much because there are a lot of loans suit people who have bad credit, poor credit or no credit history. Because there are more half of Americans have bad credit, there are more and more banks, credit institutions… which offer personal loans to people who have poor credit.


In this our post, readers/people can get more and more information about the loans being suit people have bad credit. This post includes the four part: “What type of the loans does suit people have bad credit?”, “Where can I get the bad credit loans?”, “The interest rate on the loans for me?” and “The advantages and disadvantages of the loans with a bad credit score.”

1. I need a loan but I have bad credit. What type of the loans does suit me?

If you have bad credit, your credit score will probably falls between 300 and 630. Can say that: “The lower the score, the worse a borrower’s credit”. But nothing is impossible. You still get the loans without having to worry too much. Do you have bad credit? Some lenders only provide loans to you. 

The personal loans with bad or poor credit are personal loans available for people with no credit history or very poor credit. However, this loan has some notable disadvantages. Read carefully before deciding to borrow. In order to receive loans even if you have bad credit, you must meet the following basic conditions:

  • You have a credit score (bad or poor score is not a problem),
  • You need to provide your bank documents to verify your source of regular income
  • You reside in the United States
  • You are between 18 and 65 years old
  • You need supply your debit or credit card as your backup payment for the loan you want to get

2. I need a loan but I have bad credit. Where can I get it?

2.1. Get a loan from national banks

The Advantages:

  • The national bank give you tons of options (fees, incentives, and more)
  • The national banks are set up for convenient features when you get loans online as well as online bill pay;
  • The national banks have 24/7 customer service to assist their customers.

The disadvantages:

  • You talk to an inexperienced bank agent;

2.2. Get a loan from credit unions

With a simple and secure application process from any device, first-time customers can have $500 – $2,600 cash in their pocket as soon as the next business day.

The Advantages:
  • The huge plus is the location
  • Shop smarter with personalized loan rates
  • All without affecting the credit score.
  • The credit unions have lower rates than banks.
  • Easy compare custom personal loan rates
  • The degree of flexibility when making loans.

The disadvantages:

  • Be limits to services and products offered by smaller credit unions.
I need a loan but I have bad credit
I need a loan but I have bad credit

2.3. Get a loan from online fast-money lenders

The advantages:

  • It’s easy and fast,
  • You need to put in your information and wait for approval.
  • The online fast-money lenders are set up to work with bad or poor credit.

The disadvantages:

  • Maybe charge insane interest rates.
  • You could find paying 400.00% APR or more.

3. The interest rate on the loans for me?

  • You can get loans from $1,500 to $10,000
  • APR: from 9.99% to 35.99%
  • Typical term lengths: 24, 36, 38, or even 60 months.
  • These loans can also visit one of their 1,600 branches in person or handle the entire application process online.

If you don’t repay on time there will be extra costs:

  • Missed payment fee
  • Late interest

4. The advantages and disadvantages of the loans with a bad credit score.

4.1. The advantages 

  • Quick loan approval
  • Can help people in improving your credit
  • You are not worried about your credit history
  • You can get large amounts of money

4.2. The disadvantages 

  • Easy to land on unscrupulous lenders
  • Stringent terms and conditions
  • High-interest rate
  • Easy to cripple individuals without financial discipline

The best loans for bad credit which were provided by credit unions or other institutions have been born. In many previous articles, the readers of the Info Credit Free are understood total personal loans such as Unsecured personal loans bad credit, Low-interest personal loans, Payday loans bad credit…

If you have a poor credit score and want to get personal loans in the US, you can get more information in each post such as Low-interest personal loans, Small loans for bad credit, Loans for people with poor credit, Online loans for bad credit or installment loans for bad credit.

Hillary (Team Content) – Info Credit Free