Quick answer
There is no universal minimum credit score for a personal loan. Each lender sets its own rules, and some work with Poor or Fair scores. Your score mainly drives your APR: higher scores usually get lower rates. Lenders also look at income, debt-to-income ratio and recent credit history.
If you have searched for "the" minimum score, you have probably seen different numbers on every site. That is because there is no single answer: each lender decides.
How lenders use your score
Your credit score is a prediction of how likely you are to repay. The CFPB says lenders use scores to decide whether to approve you and to set your interest rate and limits. In practice, the score does two jobs:
- Approval: some lenders have a cutoff, others look at the whole file.
- Price: within the same lender, higher scores usually get lower APRs.
FICO ranges for reference
| Score | myFICO rating |
|---|---|
| Below 580 | Poor |
| 580 to 669 | Fair |
| 670 to 739 | Good |
| 740 to 799 | Very Good |
| 800 and above | Exceptional |
Options by score: 500, 550, 580, 600, 620, 650.
Why your score matters for cost
Here is what borrowing $10,000 over 36 months costs at three APRs across the 5.99% to 35.99% range offered on our network. The rate you are offered depends on your credit, income and the lender.
| APR | Monthly payment | Total interest | Total repaid |
|---|---|---|---|
| 5.99% | $304.17 | about $950 | about $10,950 |
| 15.99% | $351.52 | about $2,655 | about $12,655 |
| 35.99% | $457.98 | about $6,487 | about $16,487 |
What else lenders check
- Debt-to-income ratio (DTI): your monthly debt payments divided by gross monthly income. Check yours with the DTI calculator.
- Income and employment.
- Recent late payments or collections.
- Loan amount and purpose.
How to improve your odds
- Prequalify with several lenders using soft inquiries.
- Borrow less, or choose a term with a payment you can handle.
- Add a creditworthy cosigner if a lender allows it.
- Lower card balances before applying. See how to raise your credit score fast.
If you need to borrow while you work on your credit, use the form on this page to see whether partner lenders may have an offer, or call (800) 236-7761. Compare offers by APR and total cost.
Examples are illustrations, not offers. Approval, APR and terms depend on the lender, your state and your credit profile.
Frequently asked questions about what credit score do you need for a personal loan?
Can I get a personal loan with a 500 credit score?
Some lenders consider scores that low, usually at high APRs and for smaller amounts. A cosigner, a secured loan or a credit union may offer better terms.
What credit score gets the best personal loan rates?
Lenders set their own tiers. In general, the higher your score, the lower the APR you are offered. myFICO considers 670 and above Good.
Do lenders use FICO or VantageScore?
It varies by lender. myFICO says FICO scores are used by 90% of top lenders.
Besides credit score, what do lenders check?
Income, employment, debt-to-income ratio, the loan amount and purpose, and recent payment history.
Sources
- myFICO: What is a FICO Score? (accessed 2026-10-09)
- CFPB: What is a credit score? (accessed 2026-10-09)
- CFPB: What is a debt-to-income ratio? (accessed 2026-10-09)
- CFPB: What is the difference between a loan interest rate and the APR? (accessed 2026-10-09)
Last updated 2026-10-09. How we research and update pages.