What Is Good Credit Score For Personal Loan
It s possible to get a personal loan with a lower credit score but a fico score that falls in the good range 670 739 or higher will give you access to a broader array of lenders and better interest rates.
What is good credit score for personal loan. In the united states. This means that an applicant who applies for a personal loan with a score of 670 may qualify but they may or may not receive the best interest rate or terms. You ll likely get lower interest rates too.
How your credit score can affect your loan. On that scale a credit score between 670 and 739 is generally considered good what are the credit score ranges. However you usually have more options if you have a credit score of 640 or higher.
If your score is in or around this range your chances of being approved for a loan or credit card are quite good. The most common fico scores feature a scale of 300 to 850. Typically you need a credit score of at least 550 to get a personal loan.
If your score is 670 to 739. A credit score of 660 or higher is considered good while anything above 800 is considered excellent. If you re not sure about the minimum credit score requirement for a particular lender ask before applying.
To qualify for a personal loan most lenders require that you have a minimum credit score often somewhere between 580 and 600. Many give preference to borrowers with good or excellent credit scores 690 fico and above but some lenders accept borrowers with. Credit score requirements for personal loans vary across lenders.
If your score is 740 to 799 your score is better than average and you should also be able to easily qualify for a personal loan.
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