What Is A Good Credit Score To Get A Loan – 10 Tips To Help People Choose The Right One
Today I’ll cover four different credit scores from bad credit to excellent and share the best loan sites open to each level, and some key steps you can take at each level to improve your credit score.
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I’ve always hated the generic advice on credit scores and personal loans because it helps nobody. If your FICO score is higher than the average credit score, then you’re overpaying for loans. If your score is lower, then you’re locked out of the best personal loan sites.
To really find the best rates on unsecured loans, you need to know where your credit score is at and which sites will approve your application.
In this video, I cover four different credit scores from bad credit to excellent and share the best loan sites open to each level. I’ll also reveal key steps you can take at each level to improve your credit score, get to that next level and get better rates on loans.
The list includes signature loan sites I’ve used myself for debt consolidation loans and a home improvement loan. For example, I used the bad credit loan site Personal Loans after destroying my credit score in 2009 to pay off high-interest credit card debt. https://peerfinance101.com/personalloans
Upstart specializes in personal loans for students because it uses a unique application model for people with bad credit or no credit at all. The website looks at your school and degree as part of the approval process. https://peerfinance101.com/upstart
Lending Club is the largest peer-to-peer lending site in the world but you’ll need a little higher credit score to qualify, around 680 FICO. I’ve used the website before for a low interest personal loan and invest in loans now. https://peerfinance101.com/lendingclubloans
SoFi has the broadest range of unsecured personal loans as well as mortgage refinancing and student loan refinancing options. The website just recently released their minimum credit score requirement of 680 FICO, meaning you’ll need good credit but the low rates are worth it. https://peerfinance101.com/sofi
• How to get a personal loan with bad credit – 580 FICO and below
• The difference between sub-prime and prime credit score and why it matters when applying for personal loans
• Personal loan sites for different credit scores 580 – 650 – 700 – 740
• How to improve your credit score to get to the next level and get lower rates
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Want to see how I added over 200 points to my credit score after financial disaster? Get this free guide, From Zero to Credit Hero https://peerfinance101.com/steps-fix-credit-score-loans/
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Joseph Hogue, CFA spent nearly a decade as an investment analyst for institutional firms and banks. He now helps people understand their financial lives through debt payoff strategies, investing and ways to save more money. He has appeared on Bloomberg and on sites like CNBC and Morningstar. He holds the Chartered Financial Analyst (CFA) designation and is a veteran of the Marine Corps.