💳 Credit Score for Personal Loan —
What Credit Score Do You Need
for a Personal Loan?
The answer depends on where you apply. Banks require 660+. Online lenders accept 580+. Bad credit lenders accept 500+. And income-only lenders need no score at all. See where you qualify — free, no hard pull.
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✓ Soft check only · ✓ Zero score impact · ✓ 300+ lenders · ✓ Instant results
Home › What Credit Score Do You Need for a Personal Loan
Last updated: · Reviewed by Money247 Editorial Team
The minimum credit score you need for a personal loan depends entirely on where you apply. Traditional banks and credit unions are the most restrictive. Online lenders are more flexible. Bad credit specialist lenders accept the lowest scores. And income-only lenders have no minimum credit score at all. This guide shows you exactly what score each lender type requires — and the fastest way to see your real options without damaging your score.
Minimum Credit Score by Lender Type — 2026
The same borrower gets different answers depending on where they apply.
Traditional Banks660–720Strict requirements — most bad credit applicants declined
Credit Unions620–660Slightly more flexible — membership required
Online Lenders580–620More flexible — faster decisions
Bad Credit Lenders500–580Specifically designed for bad credit borrowers
Money247 Network ✓500+300+ lenders — soft check only — income-only options with NO minimum score
Income-Only LendersNoneBank deposits only — no credit score required at all
What Score Range Means for You
Find your range and see exactly what to expect.
300–499
Very Poor — Banks Will Decline
Traditional banks and most online lenders decline at this range. However income-only lenders at Money247.com approve based on bank deposits alone with no score requirement. Same-day funding available.
→ Apply at Money247 — Income-only lenders have no minimum score
500–579
Poor — Online Lenders Are Your Path
Banks decline. But many online lenders and all bad credit specialists at Money247.com accept 500+ scores. This is the threshold where real competing loan offers become available from multiple lenders simultaneously.
→ Apply at Money247 — 300+ lenders accept 500+ scores today
580–669
Fair — Multiple Lender Options Available
Most online lenders and bad credit specialists approve at this range. You will receive multiple competing offers at Money247.com. Rates are higher than good credit but manageable. This is a strong range for personal loan approval.
→ Apply at Money247 — Strong approval odds at this range
670–739
Good — Most Lenders Approve
Good credit opens almost all online lenders. Multiple competing offers at competitive rates. Money247.com returns the strongest available offers at this score range. You are in an excellent position to get funded today.
→ Apply at Money247 — Best rate competition at this range
740–850
Excellent — Best Rates Available
Every lender wants your business. You qualify for the lowest available rates and largest loan amounts. Apply at Money247.com to get 300+ lenders competing for your application — the more lenders competing the lower your rate.
→ Apply at Money247 — Get 300+ lenders competing for your loan
What Score Do You Have? Check Your Options Free
One soft check application reaches 300+ lenders simultaneously — from income-only lenders with no minimum score to premium lenders for excellent credit. Zero score impact. Instant results. See your real options in minutes.
Check My Options Free — No Hard Pull →
✓ Soft check only — zero score impact · ✓ Instant results · ✓ 300+ lenders
Other Factors Lenders Look At Besides Your Score
Your score is just one part of the picture — these matter too.
💰 Monthly Income — Most Important Factor
Your income is the most important approval signal for online lenders — more important than your credit score at many bad credit lenders. Higher income means higher loan amounts and better rates regardless of score.
✓ List every income source — job, benefits, gig work, Social Security, all of it
📊 Debt-to-Income Ratio
Lenders look at how much of your monthly income already goes to debt payments. Keep this ratio below 40% for the best approval odds. Total monthly debt payments divided by gross monthly income.
✓ Debt consolidation loans can improve your DTI by replacing multiple payments with one lower payment
🏦 Bank Account History
Many online lenders review your bank deposit history rather than just your credit score. Consistent regular deposits — even from gig work or cash income — strengthen your application significantly.
✓ 2 to 3 months of consistent deposits dramatically improve income-based approval odds
💵 Loan Amount Requested
Requesting a smaller amount increases your approval odds significantly. A $500 to $1,000 loan is approved at much higher rates than a $10,000 loan at the same credit score. Start smaller if you are near a score threshold.
✓ Request the minimum amount you actually need — upgrade later once established
Best Lenders by Credit Score Range —
⭐ #1 Best — All Credit Scores, 300+ Lenders
Money247 — Every Score Range Covered
All ScoresNo Hard Pull
500+Min Score
$50KMax Loan
MinutesDecision
Why it's #1: One soft check application reaches 300+ lenders covering every score range — from income-only lenders with no minimum score to premium lenders for excellent credit. You see every option available to you simultaneously with zero score impact. The most efficient way to find out exactly what you qualify for right now.
Covers every credit score range
Income-only — no minimum score
Soft check only — zero impact
Instant decisions in minutes
Same-day deposit available
300+ lenders competing
All income types accepted
All 50 states served
Check My Options Free — No Hard Pull →
🥈 #2 Best — No Minimum Score, Income Only
Income-Only — No Score Required
No Min ScoreAny Income
NoneMin Score
$10KMax Loan
Same DayDeposit
Why it's #2: If your credit score is below 500 or you have no credit history at all this option approves based on income and bank deposits only. No credit score minimum. Any regular income qualifies. Same-day deposit available.
No credit score requirement
Bank deposits as income proof
Any income source accepted
Same-day deposit available
Apply — No Score Required →
Frequently Asked Questions
What credit score do you need for a personal loan?+
It depends on the lender. Traditional banks require 660 to 720. Online lenders accept 580 to 620. Bad credit lenders at Money247.com accept scores as low as 500. Income-only lenders have no minimum score at all — bank deposit history is the only criteria. Apply free at Money247.com to see exactly what you qualify for from 300+ lenders simultaneously with no hard pull.
Can I get a personal loan with a 500 credit score?+
Yes. Many online lenders at Money247.com accept scores as low as 500. A 500 score is below what banks accept but squarely within the range of bad credit specialist online lenders. Apply free to see your real options from 300+ lenders — soft check only, zero score impact.
Can I get a personal loan with no credit score?+
Yes. Income-only lenders at Money247.com approve borrowers with no credit score at all. Bank deposit history showing regular income is the only approval criteria. No credit history required. Same-day deposit available.
Does checking my rate hurt my credit score?+
No. Checking your rate at Money247.com uses only a soft credit inquiry which does NOT affect your credit score. A hard inquiry only occurs when you formally accept a specific loan offer from a lender.
Is income more important than credit score for a personal loan?+
For many online lenders yes — especially bad credit and income-only lenders. A borrower with a 520 credit score and $4,000 monthly income often qualifies more easily than a borrower with a 580 score and $1,500 monthly income. Always list every income source when applying — employment, benefits, gig work, Social Security — all of it counts.
Check Your Options Now — No Hard Pull
One soft check. 300+ lenders covering every score range. Instant results in minutes. Zero score impact. See exactly what you qualify for right now.
Check My Options Free →
Related Resources
Disclaimer: Money247.com is a loan matching service, not a direct lender. Loan approval is not guaranteed. Minimum score requirements vary by lender and are subject to change.
Whatever Your Score —
Check Your Options Free Right Now
300+ lenders covering every credit score range. Soft check only — zero score impact. Instant results. Income-only options with no minimum score available.
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