Personal Loans For 19 Year Olds With No Credit History

Can a 19 year old get a loan without a cosigner?

Yes, a 19-year-old can qualify for a loan without a co-signer—if they meet the lender’s requirements. This typically includes having a stable income, a decent credit score (or credit history), and a manageable debt-to-income ratio. However, since many 19-year-olds have limited credit, getting approved on your own can be more challenging.

Here are a few tips to improve your chances:

• Build your credit: Use a secured credit card or credit-builder loan to establish credit history.
• Show steady income: Prove you can repay the loan through consistent income from a job or side work.
• Apply with the right lender: Some lenders specialize in working with young or first-time borrowers.
• Keep your loan amount modest: Borrowing a smaller amount may increase your likelihood of approval.

Applying with a co-signer isn’t required—but it can improve your approval odds and help you access offers.

Can I get a loan at 19 with no credit?

No credit can be a showstopper when it comes to getting a loan—especially if it’s unsecured and not backed by collateral. While a few lenders may be willing to take the risk, most require some form of credit history to approve an application. Fortunately, there are steps you can take to build credit and increase your chances of qualifying in the future.

Here are some effective ways to start building credit:

• Secured Credit Card: A secured credit card requires a refundable deposit, which acts as your credit limit. Use it for small purchases and pay it off in full each month to establish a positive payment history.

• Credit-Builder Loan: Offered by some banks and credit unions, these small loans are designed specifically to help you build credit. The funds are held in a savings account while you make monthly payments, and are released once the loan is repaid.

• Become an Authorized User: Ask a family member or trusted friend with good credit to add you as an authorized user on their credit card. Their payment history can help boost your credit profile—without making you responsible for payments.

Do I need a co-signer to apply for a teen loan?

Yes—if you're under 18, you’ll need a co-signer because minors are not legally allowed to enter into most binding financial contracts, including loans. A co-signer, typically a parent or guardian, agrees to take responsibility for the loan if the borrower cannot repay it.

Once you turn 18, you can legally apply for a loan on your own. However, many teens still have limited or no credit history, so applying with a co-signer—even after turning 18—can improve your chances of approval and help secure better offers.

Where can I find loans for 19 year olds with no credit history?

While options may be limited, online lending platforms can connect you with both local and national lenders willing to work with borrowers who have limited or no credit history. Look for lenders that specialize in starter loans, credit-builder loans, or personal loans for young adults.

As you evaluate options, be sure to:

• Read the fine print carefully to understand interest rates, fees, and repayment details
• Avoid predatory lenders that target vulnerable borrowers with extremely high APRs or hidden costs
• Compare multiple offers to find the most affordable and reputable option

Platforms like Acorn Finance allow you to check personal loan offers in seconds with no impact to your credit score, helping you find a loan that fits your needs—safely and responsibly. Applying with a co-signer or building credit history first can help increase your chance of approval. 

What should I look for in a personal loan as a 19-year-old?

As a first-time borrower, it’s important to understand the key details of any loan offer to make smart, informed financial decisions. Here are the top things to look for when comparing personal loans:

• Repayment Period: A longer repayment period can lower your monthly payment but may increase the total cost of the loan due to more interest paid over time. Choose a term that balances affordability with overall cost.
• Fees: Watch for fees such as origination fees, late payment fees, or prepayment penalties. These can vary by lender and add to your total cost.
• Interest Rate (APR): The APR affects how much you’ll pay in interest. A lower rate can save you hundreds—or even thousands—over the life of the loan.
• Reputation of the Lender: Read reviews and verify the lender’s credibility. Look for transparent offers, good customer service, and a track record of fair lending practices.
• Flexibility: Some lenders offer features like payment date adjustments, mobile account access, or the option to skip a payment during hardship. These features can be helpful if your financial situation changes.

By focusing on these factors, you’ll be better equipped to choose a loan that fits your budget and helps you build a strong financial foundation.

How can I improve my chances of getting approved for a personal loan at 19?

Getting approved for a personal loan at 19 can be challenging due to limited credit history, but there are steps you can take to improve your chances. Here are some practical tips:

• Apply with a Co-Signer: A co-signer with strong credit and steady income can boost your approval odds and help you qualify for offers.
• Review Your Credit Report: Check your credit report for accuracy before applying. Even with limited history, it’s important to correct any errors that could hurt your score.
• Find the Right Lender: Not all lenders work with first-time or young borrowers. Look for those who specialize in personal loans for people with limited credit history.
• Build Credit Before Applying: Use a secured credit card or credit-builder loan to establish a positive payment history. Even a few months of responsible use can strengthen your application.