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The honest answer: there’s no single credit score that gets you a personal loan. Different lenders have different minimums, and the score required depends heavily on the loan amount, the lender type, and what you offer in collateral or co-signers. Here’s a clear breakdown of what credit scores actually qualify for personal loans in 2026 and how to position yourself for the best terms.
Credit Score Tiers and What They Mean
| FICO Range | Tier | Typical APR Range |
|---|---|---|
| 800–850 | Exceptional | 5–10% |
| 740–799 | Very Good | 7–12% |
| 670–739 | Good (Prime) | 10–18% |
| 580–669 | Fair (Subprime) | 18–30% |
| 300–579 | Poor (Deep Subprime) | 25–36%+ (where approved) |
Minimum Credit Scores by Lender
- SoFi, LightStream, Marcus by Goldman Sachs: 680+ minimum (often higher in practice).
- LendingPoint: 600+ minimum.
- Avant: 580+ minimum.
- Upgrade: 580+ minimum.
- OneMain Financial: No published minimum. Approves below 580 with secured loans (vehicle as collateral).
- Credit unions: Vary widely. Some approve any score for members who’ve had a deposit account for 6+ months.
- Payday alternative loans (PALs) at credit unions: Often available regardless of credit score, capped at 28% APR.
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What Affects Your Personal Loan Approval Beyond Score
- Debt-to-income ratio (DTI) — Most lenders want under 40%; some accept up to 50% for stronger profiles.
- Income — Stability and verifiability matter as much as amount. W-2 income is easier to qualify against than 1099 self-employment.
- Employment history — 6+ months at current employer is the standard.
- Existing banking relationship — Lenders are more flexible with their existing customers.
- Loan purpose — Some lenders are more flexible for debt consolidation than for general use.
- Collateral or co-signer — Both can lower required score thresholds substantially.
If Your Score Is Below 580
Below 580, the realistic options narrow:
- OneMain Financial secured loan — Use a vehicle as collateral; opens approval below 580.
- Credit union PALs — Federal regulation caps the APR at 28% maximum; small loan amounts.
- Co-signer with strong credit — Their credit lifts your application.
- Build score before applying — 6–12 months with a secured card and credit-builder loan can move you above 580 and unlock better lenders.
If a lender approves you below 580 without collateral or a co-signer, the APR will likely be at the top of the legal range — 36% in many states. Compare that to the cost of waiting 6 months to rebuild your score and apply for a 24% APR loan: usually the rebuild path saves more money than the immediate borrowing.
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The most useful advice for any borrower trying to qualify: prequalify with multiple lenders using soft pulls before formal application. You’ll see your actual approval odds and rate at each lender without affecting your credit, and you can pick the strongest offer. If no lender prequalifies you, that’s a clear signal to focus on credit-building first rather than chasing a loan you won’t qualify for.
Frequently Asked Questions
Can I get a personal loan with a 600 credit score?
Yes. Lenders like Avant, LendingPoint, and Upstart work with scores around 580–620. Expect APRs in the 25–32% range at this score level.
Does checking my rate affect my credit score?
No — as long as you use a soft-pull prequalification tool. Only a formal loan application (hard pull) temporarily impacts your score by 2–5 points.
What’s the minimum income needed for a personal loan?
Most online lenders require at least $12,000–$24,000 annual income, though requirements vary. Higher income strengthens your application regardless of your credit score.
Will a personal loan help improve my credit score?
Yes — if you make all payments on time. Personal loans add installment account history and credit mix diversity, both of which positively influence your score over time.
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