Personal Loan for Excellent Credit
Check offers in seconds
Get pre-qualified for loan offers with an easy online form
Won't impact your credit
Checking offers will not impact your credit score*
Competitive payment options
Funding up to $100,000 and APRs as low as 3.99%*
Receive funds quickly
Same-day and next-day available for certain offers*
Excellent Credit Personal Loan Options, Rates & More
If you have excellent credit you may not be wondering if you qualify for a personal but rather where you can get the best personal loans for excellent credit. Or perhaps you are wondering what is considered excellent credit? Credit scores 800+ are usually considered excellent by most lenders. With this type of credit score you should be able to qualify for some of the lowest interest rates.
Quick. Simple. Secure.
How To Apply For Personal Loan for Excellent Credit
Fill out easy online form to check for pre-qualified offers with no impact to your credit score
Compare terms and payment options to select offer that’s best for you
Complete application process on your selected lender’s website*
After loan approval, your funds should arrive within 1-2 business days*
“The process couldn’t have been any easier. I filled out a short form that took me less than 2 minutes and within seconds I got multiple offers from lenders.”
- Mike T. (TN)
“It was important to me that I could review my offers without any impact to my credit score, before deciding on the best loan option.”
- Carol R (FL)
“I like the easy online and 100% paperless experience of Acorn Finance. I received my money two days after completing my application.”
- Bob S (WI)
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FREQUENTLY ASKED QUESTIONS
Learn More About Personal Loan for Excellent Credit
So how should you go about getting a personal loan with excellent credit? Where should you check for offers? First, let’s take a closer look at what excellent credit means.
Read more - FAQ
What is considered excellent credit?
If you have 800 or more as a credit score, pat yourself on the back because you are doing something right! Now, a credit score is basically a measure of risk and how likely you are to pay your bills on time. With excellent credit you should be seen as very low risk, thus allowing lenders to easily approve your loan. You should also be able to qualify for high loan amounts as long as you have enough income to cover the monthly payment.
Can I get a personal loan with excellent credit?
What type of loan can I get with excellent credit?
How much can I borrow with excellent credit?
While you may be able to borrow more money than you are comfortable repaying, you shouldn’t. After all, having high credit is a double edged sword, and you want to maintain the bank’s trust in you and your spending habits.
What personal loan rates can I get with excellent credit?
The average personal loan rate for people with excellent credit scores for 2021 is about 11.8% APR. While personal loans offer money with no strings attached, besides the fate of your credit report, they may have higher interest rates compared to secured loans. As a borrower with excellent credit make sure you explore your options to make an educated financial decision.
Where can I get a personal loan with excellent credit?
Still, just because you have a high credit score doesn’t mean that you should use the first lender you see. You should still shop around or use Acorn Finance to make sure that you are comparing the best deals and also getting the best offers. But there really isn’t a place that you can’t go without getting a good deal due to your credit score, so have fun shopping around.
Acorn finance can show you all of the options available for getting better credit and will allow you to make the best decision out of all those options. We recommend using them, because checking for offers does not impact your credit score and there’s no impact to your score if you pre-qualify.
How To Grow and Protect Your Credit Score
If you are new to credit or facing such a low credit score you can’t seem to get approved anywhere, try getting a secured credit card. Over time, as you become more dependable through your actions, then your score should rise. It might not get to a perfect over 800 credit score yet, but it can get better than it is now. After you work hard to get your credit score where it needs to be, then you need to focus on protecting it and keeping it high.
It can take a lot of time for any blemishes on your credit score to go away, so you want to avoid adding new ones once you get your slate clean. Try not to miss payments, have overdue bills or debts, avoid filing for bankruptcy, and keep doing what you have normally done to get your credit score high. It doesn’t take a lot of investment to make sure that your credit score gets high and stays high, so just keep following the rules, be responsible, and be a good borrower of money to keep it high. We recommend downloading an App that can help you track and manage your credit score.
What are the advantages of personal loans for excellent credit?
Let’s take a look at some of the advantages of getting a personal loan:
#1. Build credit
If you take out a personal loan, with a low interest rate or high interest rate, and pay it off on-time, you can gain a positive mark on your credit report. On the flipside, if you miss payments or default on the loan you may damage your credit score. As a responsible borrower, you need to go over your budget and really make sure you can afford the extra monthly payment before committing to a loan. It’s easy to convince yourself you are capable of making a monthly payment when you qualify for a loan. But always remember, numbers don’t lie. Before you sign up, look at your cash flow. List monthly expenses and income. Truly make sure you can afford the monthly payment.
#2. Pay in monthly installments
In some cases, we may need to pay for expensive repairs or projects or emergency expenses that we simply don’t have enough cash to cover. You may consider swiping your credit card but deep down you know this could end poorly. Credit cards can be hard to manage when your balance becomes more than you can afford. Personal loans often offer lower interest rates than credit cards and fixed monthly payments. Personal loans can allow you to get what you need, when you need it, and make monthly installments or payments over time. While personal loans can be a real lifesaver, you should not become dependent on them as it does cost money to borrow money.
#3. Use funds for nearly anything
Personal loans usually do not have any spending restrictions making them a versatile loan option. Whether you need to finance home improvements or pay for a wedding, you can use a personal loan. The sky’s the limit when it comes to spending your personal loan. In some cases, this can be extremely beneficial, but it can be dangerous too. If you take out a personal loan, make sure you spend it wisely and keep spending under control. In some cases, lenders may restrict how funds are used so make sure you review the terms and conditions before taking the loan.
#4. No collateral
Unsecured personal loans do not require the borrower to provide collateral. While unsecured personal loans offer borrowers less risk, lenders face more risk. As a result, you may pay higher interest rates or find that a personal loan is more difficult to qualify for than a secured loan. However, without collateral involved, the funding and application process is usually quick for a personal loan.
#5. Competitive interest rates
You can find that most personal loans have APRs ranging between 3% to 36%. A highly-qualified applicant can expect to lock in the lowest interest rates. Keep in mind that interest rates can vary, depending on the lender and what they can offer. Considering that you should get your money quickly and not have to put up collateral, a personal loan offer with a competitive interest rate can make the decision a no-brainer. However, always be sure to compare offers. At Acorn Finance you can check personal loan offers from top national lenders without impacting your credit score.
What are the disadvantages of personal loans for excellent credit?
#1. Interest charges and fees
One of the biggest downsides to borrowing money, via a personal loan or any type of loan really, is paying interest and fees. It can add up quickly and cost you hundreds or thousands of dollars. While you can’t eliminate paying interest on a personal loan, you can shop around to find the lowest rate possible. As you compare offers, compare interest rates and fees too. Some lenders may charge origination fees or prepayment penalties. Competitive institutions are less likely to charge prepayment fees.
#2. Taking on (maybe) unnecessary debt
The ability to borrow money via an unsecured personal loan may encourage consumers to rack up unnecessary debt. Before taking out a personal loan you should justify what you need it for. There are many ways to use a personal loan that can be beneficial financially such as debt consolidation or home improvement financing. However, if you are taking out a personal loan to finance a vacation, although you can do this, you may want to think twice.
#3. Risk damage to credit
As with any loan, if you default, you risk damaging your credit report. If you took out a personal loan that you did not need and defaulted, you may have serious regret. Before you commit to a loan, always make sure you can cover the monthly payment. If all goes well, a personal loan could boost your credit score.
What can I do with a personal loan with excellent credit?
What should I know about getting a personal loan with excellent credit?
Having an excellent credit score is something to be proud of, and if you need a personal loan to handle an emergency or leisure expense, you shouldn’t have to worry about getting it. If you have an excellent credit score you should have less to worry about when it comes to applying for a personal loan. Since you should qualify for most lenders, you can pretty much take your pick on who you prefer to work with.
If you are looking for the most competitive personal loan offer with excellent credit, you should check offers at Acorn Finance. Acorn Finance has trustworthy lending partners that can offer APRs as low as 3.99% depending on your credit score. Individuals can discover simple and competitive payment options through Acorn Finance. At Acorn Finance, you can submit one application and receive loan offers in 60 seconds or less with no impact to your credit score. Once you have claimed the best offer and finalized the loan, you can receive funds quickly.
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