Your credit score is the primary determinant of whether you qualify for a personal loan and what interest rate you'll receive. Understanding the landscape — which scores qualify for which lenders at what rates — helps you target applications correctly and avoid hard inquiries that don't convert.
Credit Score Requirements by Lender (2026)
Here's what each major online lender requires as a minimum credit score in 2026:
Avant and Upgrade both accept scores as low as 550–560, making them the most accessible for borrowers with damaged credit. Prosper and Best Egg require 560–600. Discover, LightStream, Marcus by Goldman Sachs, and SoFi all require 660–680 minimum. For the very best rates at LightStream and SoFi, scores above 720 are typically required.
Credit unions vary widely but often extend loans to members with scores as low as 520–540. Local community banks may have more flexibility than national banks.
What Rate Will You Get by Credit Score?
Rates vary significantly by credit tier. For personal loans in 2026:
Excellent (750+): 6%–12% APR. You qualify for the best rates from every lender. On a $15,000 loan, you'll pay roughly $2,700–$5,800 in interest over 36 months.
Good (700–749): 10%–18% APR. Solid options still available, but rates are meaningfully higher than excellent credit borrowers.
Fair (650–699): 15%–25% APR. Options narrow — best to compare 4–5 lenders to find the most competitive offer.
Poor (580–649): 22%–36% APR. High rates, but viable options exist from Avant, Upgrade, and Prosper. Compare carefully.
Very Poor (below 580): Limited options. Consider secured loans, credit union membership, or a co-signer before applying to mainstream online lenders.
What Lenders Look at Beyond Your Score
While credit score is the primary factor, lenders also evaluate: debt-to-income ratio (most want below 40%), employment stability (2+ years preferred), income level (must support the monthly payment), recent negative events (recent bankruptcy or foreclosure is often disqualifying), and banking history (some lenders analyze your cash flow directly).
Quick Score Improvements Before Applying
If your score is near a threshold (say, 578 when many lenders want 580, or 658 when some want 660), targeted improvements can quickly push you over: pay down the credit card closest to its limit, dispute any errors, and make sure all accounts show current status. A 10–20 point improvement over 30 days is entirely achievable with focused effort and can unlock meaningfully better rates.
