530 Credit Score — Personal Loans Available (Up to $35K)

530 Credit Score — Personal Loans Available (Up to $35K)
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Ashley Dull
By: Ashley Dull
Posted: January 12, 2016
BadCredit.org's popular "How-To" series is for those who seek to improve, rebuild or better understand their subprime credit rating.

Finding a lender who will approve your application for a personal loan when you have bad credit can be challenging; if you choose to go lender by lender and receive denial after denial, it can also become emotionally draining very quickly.

It seems as though when you need money the most, it’s the most difficult to obtain. Our mission is to provide you with the resources and information you need to achieve your financial goals — that’s why we review financial services that cater specifically to people with poor credit to find you the best financial solutions for any situation.

For getting a personal loan with a low credit score, we recommend PersonalLoans.com or a credit card designed specifically for poor credit that can help you rebuild your credit with responsible use. Two birds, one stone!

PersonalLoans.com is Our Top-Rated Bad Credit Loan Service

PersonalLoans.com isn’t a lender, but rather a lender referral network. This way, you only have to fill out one application and PersonalLoans.com will match you with a lender who is ready to approve you based on the information you provided — bad credit is not a problem. They have a large lender network and you can request up to $35,000.

PersonalLoans.com offers a quick and convenient online loan request form.  Once you submit your loan request, PersonalLoans.com searches its lender network to match you with a lender that can work for you.

Personal Loan Requirements

In order to qualify to apply for a loan on PersonalLoans.com, you’ll need four things:

  • Age/ID/Residency Status – You must be 18 years or older with a valid Social Security number and be a legal U.S. citizen or permanent resident.
  • Income – You must be employed at least part-time or receive regular disability or Social Security benefits. Lenders may require income verification.
  • Bank Account – A bank account is required by many lenders.
  • Credit Type – While your low credit score will not exclude you from receiving a loan, PersonalLoans.com does require a potential borrower to have demonstrated a pattern of responsibility. Recent bankruptcies and/or charged-off accounts could disqualify you.

Interest Rates, Fees, and Loan Terms Will Vary

Variables of the loan itself such as interest rates, the length of the loan, and any fees involved depend on the actual lender who approves your application. Each lender has its own terms and conditions.

Below is an example of a personal loan annual percentage rate (APR) range:

PersonalLoans.com APR Range Chart

PersonalLoans.com does not charge any fees for using its service. If you’re approved for a loan, the lender will show you the fees and rates associated with the loan prior to your acceptance of the loan. You are never obligated to accept any loan.

Receive Funds in as Soon as 1 Business Day After Approval

Getting a loan is fast and easy. Funds can be deposited into your account in as soon as one business day after your application is approved. Your repayment schedule will vary between 6 and 72 months (6 years), depending on the terms of your loan agreement with your lender.

PersonalLoans.com Can Answer More of Your Questions

If you still have questions or concerns, PersonalLoans.com can help. You can reach them Monday through Friday 6am – 7pm Eastern Time at 1-800-772-2274, or, visit their Frequently Asked Questions page.

A Credit Card is Another Personal Loan Option

While a credit card may seem like a stretch — it actually isn’t. There are numerous credit cards available to people with poor credit. If you’ve been denied in the past, you’re likely applying for the wrong types of cards.

5 Best Credit Cards for People with Bad Credit

Below are five of our expert’s top-rated credit cards, and our top pick even offers 1% cash back on gas and grocery purchases.

  • Checking account and $10,000 gross annual income required
  • Unlike some other issuers, good credit is not required
  • All credit types welcome to apply
  • Reports to the major Consumer Reporting Agencies
  • Application response in 30 seconds
  • A credit card offer for those currently building credit history
  • Click here for official site, terms, and details.
★★★★★

4.7

Overall Rating

Application Length Interest Rate Reports Monthly Reputation Score
9 minutes See issuer website Yes 9.5/10
  • Checking account required
  • Fast and easy application process; response provided in seconds
  • A genuine VISA card accepted by merchants nationwide across the USA and online
  • Manageable monthly payments
  • If approved, simply pay a processing fee to open your account and access your available credit
  • Reports monthly to all three major credit bureaus
  • Click here for official site, terms, and details.
★★★★★

4.7

Overall Rating

Application Length Interest Rate Reports Monthly Reputation Score
9 Minutes 29.99% Yes 8.5/10
  • Checking account required
  • A manageable credit limit can help you stay in control
  • This is a credit card - not a debit or prepaid card
  • Track your progress. Your FICO Score is provided for free on your monthly billing statement.
  • Make your payments on time each month, and keep your balance low relative to the credit limit, for positive marks on your credit report.
  • Click here for official site, terms, and details.
★★★★★

4.6

Overall Rating

Application Length Interest Rate Reports Monthly Reputation Score
9 minutes See issuer website Yes 9.5/10
  • Checking account required
  • Monthly reporting to the major Consumer Reporting Agencies
  • Response provided in 60 seconds or less
  • No security deposit required
  • Apply today, and if approved, pay a Processing Fee and you can access your available credit (additional fees and charges apply)
  • Click here for official site, terms, and details.
★★★★★

4.6

Overall Rating

Application Length Interest Rate Reports Monthly Reputation Score
9 minutes See issuer website Yes 9.5/10
  • Up to $5,000 spending limit in less than 60 seconds
  • Shop from over 100,000 brand name products such as Apple, Samsung, Sony, Gucci, Prada and much more with low easy payments.
  • Less than perfect credit accepted. Approval is quick and easy
  • Must be 18 years or older, have a valid checking account and a verifiable source of income
  • Up to 12 months same as cash
  • 50% Early Payoff discount
  • No hidden fees
  • Return at any time
  • Click here for official site, terms, and details.
★★★★★

4.5

Overall Rating

Application Length Interest Rate Reports Monthly Reputation Score
8 Minutes See website No New Offer

One of the best benefits of a credit card is that it can help rebuild your credit while also providing you the money you need. This is because the credit card will report your monthly payments to the credit bureaus. As long as your payments are on time and your card isn’t maxed out, your credit card usage will be reported positively.

Credit Repair Can Get You Better Interest Rates

We know that right now your goal is to just get the money you need, and we hope the options provided above can help you attain that goal. But in the future, better credit can make it easier to not only get the loan, but also get you better interest rates — meaning the loan will cost you less overall.

Credit repair services can help you repair your credit by removing negative items from your credit reports. Our top-rated credit repair service, Lexington Law, has helped its past clients see an average of 10.2 negative items removed from their credit reports.

Your consultation will be completely free and there’s no obligation to sign up for services. It’s worth checking out to see how much your credit could potentially improve in a matter of a few short months with Lexington’s help.

Final Thoughts

Whichever route for getting a personal loan you decide to take, it’s worth shopping around to find the best interest rates. With PersonalLoans.com you’ll always be able to see the loan offer before you accept it, and before you apply for any credit card, be sure to read the terms prior to applying. This way you’ll know you’ve done your due diligence and have accepted the best offer for your financial situation. Good luck!