Holiday Loans for Bad Credit in 2024

Holiday Loans For Bad Credit

Let’s say your credit is lousy, you’ve maxed out your credit cards, and your holiday spending budget is meager. You can solve all three, thanks to subprime holiday loans online. No, I haven’t been hitting the egg nog — here’s the plan:

  1. Fill out a loan application for an amount large enough to consolidate your debt and fund your holiday shopping. 
  2. Pay off the debt and bank the remainder of the loan. 
  3. Wrap your credit cards in plastic and put them in the freezer. Keep them there until you repay the loan.
  4. Shop for the holidays using your debit card.
  5. Make your loan payments on time. Better yet, do your darndest to repay ahead of time and watch your credit score rise.

You can, of course, adapt this scenario to fit your situation. The goal remains the same: Consolidate your debt, buy gifts for your loved ones, and rebuild your credit. 

This article reviews loan services that can make this holiday dream come true. We also propose some alternatives that may better suit you. We sincerely hope you have a wonderful — and financially responsible — holiday season.

Personal Loans You Can Use For Holiday Spending

These companies don’t lend; they find lenders for folks with bad credit. They will prequalify you for a fast cash loan and hook you up with one or more lenders that work with subprime borrowers. For their efforts, they charge you nothing, and using them won’t hurt your credit. 

While there are no guaranteed Christmas loans, these services work hard to get you the money you need. 

  • Short-term loans up to $5,000
  • Online marketplace of lenders
  • Funds available in as few as 24 hours
  • Simple online form takes less than 5 minutes
  • Trusted by more than 2 million customers
  • See official site, terms, and details.


Overall Rating

Loan Amount Interest Rate Loan Term Loan Example
Up to $5,000 Varies Varies

See representative example

You can’t beat MoneyMutual for easy and quick Christmas cash loans. The company is one of our top-ranked lending networks that arranges bad credit loans by offering a simple loan request form you can complete in a few minutes. It will immediately distribute your request to its lending network to connect you to a personal loan provider.

  • Personal loans from $500 to $35,000
  • All credit types are considered and welcome
  • Simple, no credit impact form
  • Helping consumers since 2001
  • 4.7 out of 5 Trustpilot rating with 2,000+ reviews!
  • See official site, terms, and details.


Overall Rating

Loan Amount Interest Rate Loan Term Loan Example
$500 to $35,000 5.99% – 35.99% 60 Days to 72 Months

See representative example

24/7 Lending Group can find you a responsible lender for your loan request. You can quickly get a holiday loan with reasonable rates and a multi-year term. Just fill out one loan request form to receive multiple reliable offers.



Overall Rating

Loan Amount Interest Rate Loan Term Loan Example
$500 to $10,000 5.99% – 35.99% 3 to 72 Months

See representative example is another of our top-ranked lender-matching services that can connect you with a direct lender ready to help with your holiday expenses. CashUSA can — in four short steps — securely find the money to make your holiday merry and bright. Best of all, poor credit need not exclude you from getting a personal loan.



Overall Rating

Loan Amount Interest Rate Loan Term Loan Example
$500 to $10,000 5.99% – 35.99% 3 to 60 Months

See representative example

The company’s name tells the story. is an online loan-finding service that helps consumers with bad credit get the money they need. It offers many consumer education resources and can connect you to a loan provider quickly and securely. 

  • Small personal loans starting at $100
  • Receive an approval decision in as little as 2 minutes
  • Funds can be deposited into your account in one business day and used for any purpose
  • No hidden fees
  • See official site, terms, and details.


Overall Rating

Loan Amount Interest Rate Loan Term Loan Example
$100 to $20,000 Varies Varies

See representative example can help you find fast, reliable funding even without a good credit score. If you successfully prequalify, the company may be able to deposit your funds by the next business day. Its services won’t cost you a penny and are obligation-free.

  • Loans from $250 to $5,000
  • Cash deposited directly into your account
  • Get money as soon as tomorrow
  • Bad credit OK
  • More than 750,000 customers since 1998
  • See official site, terms, and details.


Overall Rating

Loan Amount Interest Rate Loan Term Loan Example
$250 to $5,000 Varies Varies

See representative example stuffs its website with many beneficial tips and tricks to help you obtain a loan. It’s part of the company’s commitment to consumer education. It provides expert assistance to those searching for fast holiday cash.



Overall Rating

Loan Amount Interest Rate Loan Term Loan Example
$250 to $35,000 5.99% – 35.99% 3 to 72 Months

See representative example offers a simple preapproval process and can deposit a holiday personal loan into your bank account as soon as tomorrow. The company works with an extensive lender network to help ensure you get the best loan terms despite your poor credit history.

  • Quick loans up to $5,000 as soon as tomorrow
  • Submit one form, get multiple options
  • All credit ratings welcome — good or bad
  • Requires a checking account and $800 minimum monthly income to apply
  • No collateral or cosigner required
  • See official site, terms, and details.


Overall Rating

Loan Amount Interest Rate Loan Term Loan Example
$250 to $5,000 Varies Varies

See representative example

The company’s name,, expresses a profound truth. It understands this and can prequalify you for an unsecured loan (or a secured personal loan) if you have a valid ID and a steady income source. This network is an intelligent choice when you need help from a reputable lender.

Alternatives to Holiday Loans

If there’s one thing we know about gift-giving, it’s that one size definitely does not fit all. The same is true for funding sources. Here are some other funding options for you to explore. 

Buy Now, Pay Later (BNPL) Apps

Buy Now Pay Later apps and services allow consumers to finance online (and sometimes in-store) purchases without credit and sometimes without interest. They have become exceedingly popular and are widely available. Three of the best are Affirm, PayPal Pay in 4 (for partnering retailers), and Afterpay.


Most BNPL services perform a soft credit check to verify your eligibility for financing, allowing an instant approval decision. Sometimes, you can pay for the purchase with four interest-free payments spaced every two weeks. They can usually also finance multiple-month terms for big-ticket purchases but will charge interest on these.

Credit Cards

The best way to tackle the holiday season with credit cards is to get a new one with an intro 0% APR on purchases for a given period (usually up to 18 months). The problem is that these are impossible to find if you have bad credit. One possible workaround is to get a high-quality card using a cosigner with good to excellent credit. 

Even if you can’t find a card with an introductory promotion, you can avoid interest by paying the entire balance before the end of the grace period (typically 21+ days after the statement date). This may be a viable option if you can repay what you need to buy for the holidays within that time. Otherwise, paying as much as possible each billing cycle is the best way to minimize your interest charges.

Credit Union Payday Alternative Loans

Credit unions offer payday alternative loans (PALs), a borrowing option that is much cheaper than payday loans. They have a maximum APR of 28%, not the triple-digit interest rates that a title or payday loan charges. PALs are some of the best bad credit loans available.

Payday Alternative Loans

The maximum you can borrow is $2,000, and you have up to a year to repay. You must belong to a credit union to access this type of emergency loan.

Selling Items to Avoid Debt

There are all sorts of ways to get some cash for your stuff. Yard sales, online classified listings, eBay, Etsy, Listia, and many other outlets stand ready to help you unload items you no longer want or need.

You may also have expensive items, such as a second home or a boat, that have become too costly to keep. This method of raising money is undoubtedly slower than a yard sale, but there are online services that facilitate quick buyouts. 

You may owe taxes on costly items you sell at a profit, but if you have owned them for a year or longer, you can take advantage of the lower long-term capital gains tax rates.

What Is a Holiday Loan?

A holiday loan funds your shopping for the festive season. It is typically an unsecured personal loan, although you can fill out a loan application for a secured personal loan. 

It is an installment loan with a monthly repayment schedule of up to five years (or longer). The lender specifies the loan amount, interest rate, monthly repayment, and loan term in a loan agreement. You can e-sign the deal online and expect the money in your bank account by the next business day.

With an installment loan, your monthly payments are for the same amount and fall on the same day of the month. In most cases, you can prepay your balance without penalty. Prepayment will reduce the overall interest charges on your loan.

What Can I Use a Holiday Loan For?

Because a holiday loan is really a personal loan, you can use the money however you like, whether that’s to buy gifts or finance holiday travel expenses. Naturally, we recommend you use the loan responsibly. 

As we proposed at the start of the article, you can accomplish multiple goals by getting a large loan and using part of the proceeds to consolidate your debt. 

However you use the loan money, the most important thing is to make your payments on time and in full. This will help your bad credit score start to recover in six to 12 months. By adopting creditworthy habits, you can build a good credit rating that will reduce future borrowing costs.

How Much Will a Holiday Loan Cost?

You shouldn’t have to pay more than a 36% APR for a personal loan. In fact, your interest rate should be considerably less, even if you have bad credit.

Because you repay the loan in equal installments, your interest charges are part of each monthly payment. Over time, more of your money goes to paying the principal and less toward interest.

Carefully Consider Whether a Holiday Loan Is Necessary

Only you can decide whether it makes sense to take out a loan for holiday expenses. You want to avoid entering the New Year saddled by high interest rates. Therefore, a lot depends on a loan’s APR.

If you can’t find a loan offer that meets your needs, consider the alternatives we presented earlier. And in all cases, have a happy and safe holiday season!

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