Personal Loans for Good Credit

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Best Personal Loans for Good Credit in 2021

Securing competitive personal loans for good credit should be fairly simple. As a good credit borrower, you should have plenty of options. Personal loans can be good for many uses. Whether you need to consolidate debt or finance home improvements, personal loans can help. You may have a few ideas in mind for a personal loan. If you are wondering, are personal loans good to pay off credit cards? The answer is yes, in most cases. Personal loans can help with debt consolidation.

Taking out a personal loan from a reputable company can help you pay expenses or cover other debt that you are struggling with. Many people take out personal loans to cover the costs of home or car repairs. Finding the right lender and loan can be a hard decision. You will want to ensure you are getting a low-interest rate and a low minimum payment.

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Acorn Finance can help you find the right lender and see which loans you may qualify for. We also can help you find loans and lenders that fit your needs and credit score. If you are looking for the best personal loans for good credit, keep reading.

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Best Personal Loans for Good Credit in 2022

Having a good credit score is extremely important in today’s lending market. Credit scores, a simple three-digit number, can have so much power over your life when it comes to your finances. Your credit score affects your ability to buy a home, take out a car loan, get money for home improvements projects, make large purchases, and even rent a home or an apartment. Your credit score can also affect your ability to gain employment in certain fields like the military, accounting or financial planning, prison security, law, law enforcement, border patrol, certain government jobs, and casinos. If you have ever had bad credit in your life, you may be aware of some of the difficulties bad credit borrowers experience when it comes to their financial lives. That is why it is essential to do your best to obtain a good credit score and to maintain it. But what exactly would constitute a good credit score?

What is good credit?

According to the FICO credit score system, a good credit score is a score between 670 and 739, a very good credit score is between 740 and 799, and an exceptional score is between 800 and 850. This would mean that any score greater than 670 would be considered a good credit score. To determine your credit score, FICO assigns weighted percentages to five main credit categories. The five main categories are payment history (35%), the total amount of debt (30%), length of credit history (15%), credit mix (10%), and recent hard inquiries/new lines of credit (10%). This means that the greatest influences on your credit score are your payment history, the total amount of debt, and your credit utilization ratio. If you are looking to obtain and/or maintain a good credit score, the biggest thing you can do is make all of your bill payments on time and make sure you pay down your credit cards every month as much as possible. A good credit utilization rate is anything below 30%.If you have a good credit score, there are numerous benefits that you may enjoy when compared to someone with a subprime credit score. A subprime credit score is an undesirable credit score that falls somewhere in the fair or bad credit categories. Basically, any credit score of 669 or below, could be considered a subprime credit score. So, what kinds of benefits do good credit borrowers get that their bad credit counterparts may not have access to? Let us take a look at some of the most common benefits of having a good credit score.Lower interest rates on credit cards and loans: Interest rates are essentially the cost of borrowing money. The higher your credit score, the lower your interest rates generally are for both credit cards and loans. Also, good credit borrowers tend to pay fewer fees as well or they may have greater access to lenders who have zero fees policies.
Higher limits: People with higher credit scores can borrow more and have higher credit limits on their credit cards than people with fair or bad credit scores.
Easier access to credit: Not only do borrowers with good credit obtain lower interest rates and higher loan amounts or credit card limits, the chances that will qualify for any type of credit is greater.Easier approval for rentals: Many landlords use a credit check when they are screening new tenants. A good credit score increases the chances you will be able to sign that lease and move into your rental home or apartment promptly.

Better car insurance rates: Even insurance companies may access your credit report when determining what kinds of premiums you will pay for your car insurance. People with higher credit scores tend to pay lower car insurance premiums than their counterparts who have bad credit.

These are just a few of the benefits that borrowers with good credit scores may experience. If you are a fair credit borrower, you may want to consider taking a little time to work on your credit and to give yourself that little extra boost to your credit score to get you over the hump.

If you have a good credit score, or if you are only a few short months away from obtaining a credit score, you may be curious as to which lenders offer the best deals on personal loans for good credit borrowers. Here is a list of some of the most trusted and respected online lenders who offer the best personal loans for good credit in 2022.

SoFi – 680 minimum score

Top pick for: large loan amounts with competitive ratesQualifications Needed: SoFi is a respected lender that offers personal loans for amounts between $5,000 and $100,000 to borrowers with a minimum credit score of 680 and a minimum income of $50,000. SoFi personal loans typically come with a loan term of 2 to 7-years and APRs that average between 5.99% and 20.94% There are no origination or late fees and no early payoff penalties.Pros:
Higher loan amounts of up to $100,000 are available to good credit borrowers
The lowest interest rate of 5.99% is possible for excellent credit borrowers
No fees. (No origination or late fee, and no early payoff penalty).
Joint applications are accepted
Good overall digital experience with exclusive member benefitsCons:
No same-day funding available
The smallest loan available is $5,000Why choose:Good or excellent credit borrowers looking for larger loan amounts, longer terms, and competitive interest rates may want to consider SoFi as one of their top lenders of choice.

LightStream – 660 minimum score

Top pick for: home improvement loans
Qualifications Needed: LightStream is one of the most popular online lenders for borrowers with good or excellent credit. Part of the reason they are so popular is that they offer some of the most competitive interest rates on the lending market. Average APRs at LightStream range from 4.99% to 17.49% for personal loans between $5,000 and $100,000. LightStream also offers some long-term loan options, like personal loans of up to 12-years, that other lenders do not offer. To qualify for a personal loan through LightStream, you should have a minimum credit score of 680 and a minimum income of at least $50,000/year. One of the main perks of LightStream is that they charge no fees.Pros:
Fast loan approval and account funding
No origination or late fees and no early payoff penalty
Lower average APRs than other lendersCons:
Smallest loan amount is $5,000Why choose:LightStream is the perfect lender for borrowers with good or excellent credit scores. They offer lower APS, zero fees, and loan amounts of up to $100,000. If you have excellent credit, you could qualify for a larger loan amount that you can use to complete significant home improvement projects like installing an inground pool, building a wrap-around deck with a porch, or a full kitchen renovation. Not only is it a possibility that you may qualify for a larger amount, but you could also lock in a low APR.

Best Egg – 600 minimum score

Top pick for: almost good credit personal loansQualifications Needed:BestEgg offers personal loans between $2,000 and $50,000 to borrowers with a minimum credit score of 600. APRs can average between 5.99% and 29.99%, with the lowest interest rates being reserved for borrowers with excellent credit. Personal loans from Best Egg do come with an origination fee that can range from 0.99% to 6.99%. Loan terms are for 3 or 5-years only. To qualify for a personal loan, BestEgg requires a minimum credit score of 600.Pros:
Fast loan approval and account funding
Lower minimum credit score requirements
Conducts a soft-credit check for prequalificationCons:
Charges an origination fee from 0.99% to 6.99%Why choose:BestEgg may be a good lender option for someone seeking a personal loan with good credit, however, they are at the bottom end of the good credit category. BestEgg has lower minimum requirements. Additionally, someone who is seeking an extremely fast loan for a smaller amount may find BestEgg to be one of the most convenient options.

Upgrade – 560 minimum score

Top pick for: bad credit personal loansQualifications Needed:Upgrade is an online lender who specializes in working with bad credit borrowers, however, they do serve customers with good or excellent credit as well. Upgrade offers personal loans 3 to 7-year loans from $1,000 to $50,000 with average APRs that range from 6.94% to 35.97%. Upgrade does charge an origination fee between 2.9% and 80%. To qualify for an Upgrade personal loan, borrowers must have a credit score of 560 or above.Pros:
Fast funding and loan approval
Offers loans as low as $1,000 for borrowers looking for a smaller quick emergency loan
Lower credit score requirementsCons:
Charges an origination fee
Higher APRsWhy choose:If you are a borrower with good or excellent credit, then Upgrade may not be the lender for you unless you are looking for a smaller loan amount. Upgrade does offer smaller loan amounts as little as $1,000 whereas other lenders have a minimum loan amount of $5,000. If you are looking for a larger loan amount and you have a good or excellent credit score, then you may want to look elsewhere.

Prosper – 600 minimum score

Top pick for: peer-to-peer loans $40,000 and lessQualifications Needed:Prosper is a peer-to-peer lending marketplace that helps borrowers find investors to fund personal loans with amounts between $2,000 and $40,000. Loan terms are for 3 or 5-years with average APRs ranging from 7.95% to 35.99% Each loan comes with an origination fee between 2.41% and 5%. Prosper sets its minimum credit score requirements at 600.Pros:
Lower minimum credit score requirements
No prepayment penalty
Joint applications are allowedCons:
Charges an origination fee
Higher APRS
Takes longer to be approved and to receive funding compared to other lendersWhy choose:If you have good or excellent credit, you may want to consider a different lender. Prosper has limited loan amounts, limited loan terms, and they charge many fees and higher APRs than someone with good or excellent credit should not have to be subject to.

LendingPoint- 600 minimum score

Top pick for: low income borrowersQualifications Needed:LendingPoint offers 2 to 4-year personal loans to borrowers with credit scores of 600 or more and minimum incomes of $30,000. The loans can range from $2,000 to $25,000 with average APRs ranging from 15.49% to 35.49%. LendingPoint personal loans typically come with an origination fee of up to 6%.Pros:
Lower minimum credit score requirements
No early payoff penalty
Quick fundingCons:
Charges an origination fee
Higher average APRsWhy choose:LendingPoint is a good option for borrowers who may have good or excellent credit but make less than 50k but more than 30k. Other lenders may have higher income requirements even if you have an excellent credit score.

Axos Bank – 700 minimum score

Top pick for: excellent credit borrowers looking to refinance a loanQualifications Needed:Axos Bank offers 1 to 5-year personal loans for amounts between $5,000 and $50,000 to borrowers with a minimum credit score of 700 and a minimum income of $48,000. These personal loans come with an average APR between 7.99% to 35.97% and an origination fee of up to 2%. They do offer fast funding for anyone who qualifies who is looking for a quick loan.Pros:
Fast approval and funding
No early payoff penaltyCons:
Charges an origination feeWhy choose:Axos Bank is known for helping borrowers who have recently acquired higher credit scores of over 700 to refinance current loans that may have incredibly high-interest rates.

OneMain- 600 minimum score

Top pick for: Borrowers with less than perfect credit that need fast fundingQualifications Needed:OneMain Financial offers 3 to 5-year personal loans as low as $1,500 and as high as $20,000 to borrowers with a minimum credit score of 600. OneMain financial may charge an origination fee of up to 10% or a flat fee of $500 depending on what state the applicant lives in.Pros:
Shorter approval process
Lower minimum credit score and income requirementsCons:
Origination fee has the potential to be very highWhy choose:OneMain may be a good lender option for someone who may have a good credit score but only works part-time. With a minimum income requirement of $7,200, part-time workers may be eligible for personal loans through OneMain.

How do you pre-qualify for a personal loan with good credit?

If you have good credit, then prequalifying may be your best option to see which lenders are going to extend to you the best interest rates, the least amount of fees, and the most perks to take your business to them. Prequalifying for a personal loan can be done quickly. Some lenders offer an online pre qualification process for your convenience. When you prequalify for a loan you typically submit basic information such as name, DOB, annual income, home address, employer information, and so forth. Based on what you submit, a lender can suggest what they may be able to offer. In most cases a prequalification does not affect your credit. However, if you decide to move forward with the offer and get pre-approved, your credit will probably be pulled. You should be able to ask lenders upfront if your credit will be impacted if you get prequalified. One of the easiest ways to check and compare offers or get prequalified is through Acorn Finance. Simply, submit some information at Acorn Finance and receive personal loan offers from top national lenders. Your credit will not be affected by checking offers.

How do you apply for a good credit loan?

The first step for applying for a good credit loan is to check your credit to make sure you do in fact have a good credit score. When you check your credit score, you will want to make sure that you have a minimum credit score of at least 670 to be considered a good credit borrower. Some lenders may even require that you have a credit score of 680 or 700 before you apply. Either way, you should check your credit score, and if it is above 670, then you may likely qualify for a good credit loan through a lender. After you have your credit score information, the next step would be to set a budget and then complete an online prequalification application.By prequalifying, you can shop multiple lenders to which lenders offer the best interest rates, terms, and incentives on personal loans. When you find a loan offer that you think works best for you, you can then work directly with the lender to complete the full application process. When completing the loan application process the lender may require some documentation in addition to the loan application. Documents like a proof of identity (driver’s license, passport, state ID, certificate of citizenship, birth certificate, military ID, or social security card), employer and income verification (pay stubs, tax returns, W-2s and or 1099s, bank statements, employer contact information), and proof of address (utility bill, lease, mortgage statement, proof of insurance, voter registration card, property tax receipt, bank or credit card statement). Once the loan application and the proper documentation have been submitted, loan approval and funding times can range from the same day, the next day, or a few business days or more, depending on the lender.

What are the best personal loan rates for good credit?

If you are looking for a personal loan from a lender who rewards good or excellent credit borrowers with the best interest rates available on the lending market, then you may want to start with LightStream and SoFi. If you qualify, and if you are in the top tier of the credit spectrum (800+), you could lock in interest rates as low as 6.99% (LightStream) or 5.99% (SoFi).

What FICO score range is considered good credit?

When it comes to the FICO credit score system, a good credit score is categorized as a score of 670 or greater. However, a good credit score consists of two additional FICO credit score categories, very good and excellent. A good credit score ranges from 670 to 739, a very good credit score ranges from 740 to 799, and an excellent credit score would be any score above 800. Although being in any of these good credit score categories may bring many benefits that fair or poor credit borrowers would not have access to, being in the excellent credit score range as well as having a higher income can bring some of the lowest interest rates and lowest fees.

How much can I borrow with a good credit loan?

If you have good credit and you are looking for a personal loan, the maximum amount that you may be able to qualify depends on the lenders. Some lenders like LightStream and SoFi offer personal loans up to $100,00, whereas other lenders may cap their personal loans at amounts like $50,000, $25,000, or $20,000. That being said, to qualify for loan amounts that reach up to $100,000, a borrower may want to make sure they have an excellent credit rating, a good amount of gross income, and that they can pay the higher monthly payments without causing too much strain on their monthly budget.

Will getting a personal loan hurt my credit score?

When you first obtain a personal loan, you may see a slight dip in your credit score. The main reason is that any time you take on a new line of credit, the loan application process puts a new hard inquiry onto your credit report, and your overall debt increases. New credit inquiries account for 10% of your credit score, however, the amount of overall debt accounts for 30% of your credit score. Once you begin to make your monthly payments on time and in full, your overall debt will decrease and your percentage of on-time payments will increase. Payment history accounts for the largest portion of your credit score at 35%. Continue to pay down the loan with on-time payments and you may see your credit score begin to gradually increase.

How do you compare the best personal loans for good credit?

The easiest way to compare the best personal loans for good credit is by prequalifying. Once you prequalify for a particular loan amount, you can easily compare interest rates, loan terms, and the potential fees that each lender may extend in a loan offer.

How much will it cost to take out a good credit loan?

The cost of any loan can be summarized in the APR. The APR consists of the interest rate and it should include any origination fee that a loan may come with. Other costs to taking on a personal loan include late fees and early payoff penalties. Be sure to read the fine print of every loan offer to account for any additional fees a lender may charge.

What is the best good credit loan for high loan amounts?


SoFI not only offers zero fees and competitive interest rates, but they also offer personal loans for up to $100,000 for those who qualify.

What is the best good credit loan for low rates?


LightStream is most famous for having some of the lowest interest rates available to borrowers with good or excellent credit. Additionally, LightStream offers loans up to $100,000 and loan repayment periods as long as 12-years.

What is the best good credit loan for a secured loan?


If you have good credit but you are trying to lock in the lowest interest rate possible by offering an asset up as collateral, then you may want to consider obtaining a secured personal loan through BestEgg.

What’s the minimum credit score for a personal loan?

Personal loan requirements vary by lender and institution. Some will have more requirements than others. Some may also be more lenient than others and factor in your income more than your credit score. However, most lenders will use your credit score as one of the factors of deciding if you can get a personal loan and what your interest rate will be.

The minimum credit score is usually 610 or higher. Some lenders will be fair credit lenders and may offer personal loans for lower scores around 580. If you don’t have the minimum score, you might need to spend some time trying to raise it. You can also consider getting a cosigner.

What is a good credit score to get a personal loan?

The higher your credit score, the better your loan terms will be. You should qualify for lower interest rates and as a result, lower monthly payments. Credit scores higher than 670 should usually receive more favorable loan terms. People with this credit score or higher are considered to have a good credit score and lenders feel like they can trust them more.

People with good credit scores are usually considered as lower risk than a borrower with fair credit. While even a good credit borrower can default on a loan, it’s less likely. With a good credit score, you should have more lender options and can be pickier about where you choose to borrow from.

Where can I get a personal loan with good credit?

Most banks offer personal loans to people with good credits. You can even try the bank you already work with. Sometimes banks don’t have the best interest rates though. Credit card companies may offer personal loan options as well. Many third parties also give personal loans.

To check personal loan offers from some top national lenders, apply online at Acorn Finance. You can receive offers in 60 seconds or less with no impact to your credit score.

Which bank has the easiest personal loan approval?

This depends on your credit score and how much money you want to borrow. In general, people have the most luck at USAA or Wells Fargo. They tend to be more lenient on loan terms and credit scores. However, their interest rates might be higher. Check and see if there are better options before choosing a bank that is known for being easy. If you have good credit, it really shouldn’t be that hard to get a personal loan.

Do personal loans hurt your credit score?

Most lenders will do a hard pull of your credit history when you submit your official loan application. This can cause your credit score to drop. Taking out a personal loan will also raise your debt amount and might also raise your income-to-debt ratio amount. Both of these things can also hurt your credit score.

If you make your payments on time and don’t apply for more loans, your credit score should bounce back in about 6 months or maybe less. In some cases, a personal loan may even increase your credit score if you pay it off in a timely manner.

How many points does a personal loan drop your credit score?

Most personal loan hard pulls will drop your credit score by about 5 points. This is per loan application that does hard pulls. So, always make sure you pre qualify before submitting a loan application.

Will my credit score increase if I pay off a personal loan?

Not necessarily. Paying off a loan should drop your credit utilization, as long as you have not taken on new debt at the same time. This is a large portion of your credit score. Closing an account or paying off a personal loan at one time can actually cause your score to drop or stay the same. If you make payments on time every month until the personal loan is completely paid off, you shouldn’t see your score drop.

Should I get a personal loan to pay off credit cards?

Personal loans may be a good option for paying off credit cards if you are carrying a large amount of debt on high-interest cards. People often take out personal loans to cover the amount of credit cards. Then, instead of making several credit card payments, you can just pay the personal loan payment each month.

What credit score do I need for a $10000 loan?

For a $10,000 loan, you will probably need a credit score of 620 or higher. Good credit scores are needed to take out large amounts of personal loans. Some lenders may offer loans for lower credit scores though.

What credit score do I need for a $15000 loan?

For $15,000 loans, you will likely need a credit score of at least 640, but some lenders may require 690. It depends on the lender. If you have a low income-to-debt ratio you might be able to get a personal loan with a lower credit score.

What credit score do I need for a $20000 loan?

Similar to the $15,000 loan, you will likely need a score of around 640. This shows lenders who can be trusted to make payments on time and won’t struggle with more debt. Some lenders may also check your income and a few other factors to see if you qualify for a $20000 loan.

Where can I borrow $30k?

If you need $30,000, you can borrow from an online lender, bank, or credit union. For a personal loan of this amount, Acorn Finance can help you find lenders that can offer competitive rates compared to other online lenders and banks.

$30,000 loans often have stricter requirements and companies may check your credit score, existing debt, and income. Acorn Finance can help you identify the lenders available to you and help guide you to make an informed decision on which loan company best suits your needs and finances.

What credit score do I need for a $50,000 loan?

A credit score of 650 or higher can increase your chance of approval when applying for a $50,000 loan. If you do not have excellent credit, it may make more financial sense to use a secured loan to borrow $50,000. $50,000 is a decent amount of money for a lender to loan out with no collateral. With a secured loan, the borrower provides collateral so then lenders risk can be reduced. As a result, lenders may be able to offer more favorable terms for borrowers with less than perfect credit.

What are the advantages of personal loans for good credit?

When you have good credit, it is fairly easy to get a personal loan. Personal loans are a really good way to consolidate high-interest debts, pay for home improvements, pay for a wedding, pay for a divorce, or any other large expense in your life.

You can qualify for a low APR with good credit. APR stands for “annual percentage rate” and is the annual rate of interest that borrowers have to pay to investors.

Paying off a personal loan is like paying off any other loan. It is really helpful if you are on time with your payments and pay them in full because it will help you successfully build credit. Lenders will typically report your payment history to three credit bureaus: Equifax, Experian, and TransUnion.

Your payment history is 35% of your FICO credit score. FICO stands for Fair Isaac Corporation because they are who invented the score. Since your payment history is 35% of your score, that means you can improve 35% of your FICO score by paying back a personal loan successfully and meeting all your payment deadlines. FICO credit scores help lenders, banks, and credit unions estimate how likely you are to be able to pay back a loan. Based on this, they decide how much they are willing to let you borrow and what your interest rate will be. A higher FICO score should qualify you to borrow more money at a better interest rate.

What are the disadvantages of personal loans for good credit?

Anytime you take out a loan, there’s some risk involved and a lot of responsibility involved. If you fail to repay a personal loan, you may damage your credit score. In addition, they may have more fees and higher interest rates compared to secured loans. On the upside, personal loans usually do not require collateral. These are among just a few of the disadvantages, so let’s take a closer look.

Most lenders charge quite a few fees to process your loans. The most common fees are application fees and origination fees. You will probably be penalized if you make a late payment or can’t afford a payment. This can affect your credit score. You can also acquire a prepayment penalty.

Lenders tell credit bureaus when you have a late payment or miss a payment. If you can’t afford a payment, don’t pay on time, or default on your loan, your credit score can go from good to fair or worse. Taking out a personal loan also increases your balance. Your balance is 30% of your FICO credit score.

If lenders decide that your credit score isn’t high enough to get an unsecured loan, you may have to pledge collateral in the form of personal assets. This means things like your car, boat, house, or certificate of deposit (CD) can be taken from you. A CD is a product that banks and credit unions offer that provides premium rates if a customer leaves an untouched deposit for a pre-decided period of time.

Before taking out a personal loan you should consider if the extra debt is worth it or not.

What can I do with a personal loan with good credit?

Personal loans help you pay for a lot of life expenses.

One thing a personal loan will help with is medical bills. You may have large medical bills, depending on your insurance or lack of insurance, for things like emergency room visits, chemotherapy, testing for illnesses, and other treatments. It is a good idea to try to talk to the hospital first and see if they will lower your medical bills. You might also have the option to pay in installments, which means a little bit at a time. But if the hospital is unwilling to do either of these things, a personal loan can be a good fit.

Weddings and divorces are another thing that can be paid by personal loans. Weddings can be extremely expensive, depending on how extravagant you want your wedding to be. They may require a lot of savings ahead of time, which you may not have the patience to establish. Personal loans can also be used to finance a honeymoon. You could take one personal loan to cover your wedding and honeymoon. Divorce, on the other hand, often costs around $16,000. A personal loan is a great way to pay off divorce fees since you will already have so much else on your mind during the divorce process.

Home repairs can also be paid off with personal loans. First check if your home insurance will cover the repair, especially if it is vital. If not, you can get a personal loan. Vital home repairs include things like extreme leaks or damaged roofs. You may also want to repair your home in preparation of selling it.

Lastly, a lot of people use personal loans to consolidate debt, such as credit card debt or student loans. Consolidating debt entails combining existing debts into one loan that hopefully has a lower interest rate.
Just be careful not to keep using your credit lines irresponsibly during this process, or you might be back at square one.

How will having good credit affect getting a personal loan?

Credit scores range from 300 to 850. 300 is poor credit and 850 is exceptional credit. However, you don’t have to have a perfect credit score to be approved for a personal loan.

A personal loan is a form of credit that you can use to pay for any large purchase. They acquire interest while you pay them off. Differing from credit cards, they often let you repay equal amounts over a few months or years to pay them off. This makes them an installment loan.

First, take a look at your credit score. Each of the three main credit bureaus- Equifax, Experian, and TransUnion, may rate you differently.

Your credit score and history let lenders know if you will probably pay the loan back in time and fully.

If you have good credit, you are likely to get a good deal. This includes lower interest rates and a higher amount of money.

The minimum credit score needed to secure a loan differs from lender to lender. Keep in mind that hard inquiries into your credit may lower your credit score, so see if you can get pre-approved or ask in advance what the lowest score is that the lender will accept.

Is it easy to get a personal loan with good credit?

If you have a good credit score it should be much easier to secure a personal loan with competitive terms. Your credit score may be impacted by a number of things, including payment history, loans, debt, new credit applications, and credit age. There are many online tools you can use to check your credit score. Be careful because sometimes looking at your credit score will lower it, so only use tools that don’t affect your score.

A credit score of 700 and above is considered good, while 800 or above is considered excellent. Luckily, you don’t have to have excellent credit in order to get a personal loan.

While you should qualify for most lenders if you have good credit, you might not get the most premium deals unless you have excellent credit.

An easy way to raise your credit is to buy a credit card, use much less than the limit on it, and pay it off monthly. If you can take your credit from good to excellent before securing a personal loan, you should.

If you can’t find the rates you want while looking for personal loans, you might consider other options like peer-to-peer lending, balance transfers, cash advances, and credit cards. However, you should be able to find a fair and reasonable deal with good credit.

Closing Thoughts
Taking out a personal loan is a big financial decision and should be done with trusted lenders only. Acorn Finance has trustworthy lending partners that can offer personal loans with APRs as low as 6.99%, 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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Virginia | Roofing

“I like the easy online and 100% paperless experience of Acorn Finance. I received my money two days after completing my application.”

Bob S.


“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.


“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.



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