Bad Credit Loans:
Explore Your Options

Reviewed By: Aundraya Ruse

Last Updated: May 21, 2026

Bad Credit Loans: Getting Approved When Your Credit Isn't Great

Most lenders see bad credit and stop there. RISE doesn't.

If you've been rejected before, or you're worried you will be, that's exactly who we're built for. Whether it's a car repair, a medical bill, or something else that couldn't wait, you don't need a perfect credit score to get approved. No hidden fees, no prepayment penalties, soft-pull pre-qualification so checking your options won't touch your FICO® credit score**, and a five-day cancellation window if you change your mind. From time to time, we even pay off some customer loans as a simple act of kindness. 

So, Can You Still Get a Loan with Bad Credit?

Yes, you can get a loan with bad credit. In fact, around 40% of RISE borrowers have a credit score below 550. If that sounds like you, you're exactly who we work with every day. 

Most traditional banks have strict credit score requirements, but online lenders (like RISE) work differently. We look at your income, your banking history, and your overall financial picture, not just the three-digit number on your credit report.

That said, it's worth going in with realistic expectations. With non-prime credit, you're looking at loan amounts between $500 and $5,000, higher interest rates than someone with a 750 score would see, and shorter repayment windows. None of that is a dealbreaker, but it changes how you should think about what you borrow and why.

You can check your options at RISE without it affecting your FICO score** at all. Since it's a soft pull, you can see what you'd qualify for before you commit to anything. 

What's the Easiest Type of Loan to Get With Poor Credit?

The easiest loans to get with bad credit are typically online installment loans and secured loans. Here's a plain breakdown of your real options:

Online installment loans

Fixed payments, set repayment schedule, no collateral needed. Lenders like RISE use soft credit checks for pre-qualification, so you can shop without hurting your FICO® score**. These are the most practical starting point for most people with bad credit. 

Secured loans

Easier to qualify for because your car or home backs the loan. Rates can be better too. The tradeoff is obvious, if you can't pay, you lose the asset. Not the right move for a short-term cash crunch. 

Co-signed or joint loans

If someone with stronger credit is willing to apply with you, your approval odds improve and your rate can come down. That person is fully on the hook if you miss payments though, so it's worth having a serious conversation before you apply. 

Payday loans

Easy to get, but the cost structure is brutal. APRs in the 300–700% range aren't unusual, and the repayment window is usually your next paycheck. They don't report to credit bureaus either, so you get none of the credit-building upside. There are better alternatives to a payday loan.

For most people in this situation, an online installment loan is the right call, predictable payments, no collateral risk, and a lender who is built to work with less than perfect credit. 

How to Get Approved For a Loan With Bad Credit

Before you apply anywhere, pull your free credit report from AnnualCreditReport.com. You're entitled to it, and knowing your score tells you which lenders to target instead of firing off applications and hoping for the best. Multiple hard inquiries in a short window can nudge your score down, which is the opposite of what you want. 

Then, figure out exactly what you need to borrow before you apply. It’s easy to tack on a few extra hundred “just in case,” but with higher rates, that adds up more than you think.

Look for lenders who let you pre-qualify with a soft pull. RISE does this — you can see your rate and loan amount before anything gets reported to the bureaus. Once you find terms that make sense, read the full agreement before you sign. The number that matters most isn't the monthly payment, it's the total repayment amount over the life of the loan. 

If you're approved and you accept, make every payment on time. It sounds obvious, but this is one of the fastest ways to move your credit score in the right direction. RISE reports to major credit bureaus, so your payment history works in your favor. 

RISE Loan Details

This is an expensive form of credit. Review all terms carefully before accepting an offer. 

Will a Bad Credit Loan Help Your Credit Score?

It can—but only if your payments are reported to the credit bureaus and you make them on time. RISE reports your payments, so they can count toward your credit history. 

Your payment history is the single biggest factor in your credit score, so a 12-month installment loan where you pay on time every month can create meaningful positive history on your report. 

Don't expect overnight results. Credit scoring is a slow process and one account won't transform your score in 60 days. But it's a real, measurable step, and it's one reason an installment loan is a more useful product than a payday loan, which doesn't report to bureaus and leaves you with nothing to show for it. 

What to Watch Out For With Bad Credit Loans

Not all lenders who target bad credit borrowers have your interests in mind. Watch for these red flags:

• No rate disclosure before you apply: Legitimate lenders show you rates upfront or with a soft pull
• Automatic rollovers: Loans that roll into new loans with new fees when you can't pay
• No credit bureau reporting: You pay on time but get no credit benefit
• Pressure to borrow more than you need

RISE doesn't do any of these. You'll see your full loan terms, including APR, payment schedule, and total repayment cost — before you accept. 

Is RISE Right for You?

If you have non-prime credit and need access to cash, yes, that's exactly who we work with. If you have good credit and other options, you'll likely find a lower rate elsewhere, and we want you to know that upfront. 

Alternatives to Bad Credit Loans

Before borrowing, it's worth considering whether one of these options might work for your situation:

• Credit union membership — many offer small-dollar loans to members with lower scores
• Negotiating a payment plan — for medical bills especially, providers often offer 0% plans
• Family or friends — interest-free if structured carefully, though it carries relationship risk
• Employer paycheck advance — some employers offer this as a benefit
• Nonprofit credit counseling — if debt is the underlying issue, NFCC-affiliated counselors offer free or low-cost help

These aren't always available or practical, but they're worth checking before taking on high-interest debt. 

If none of those work and you need access to cash now, RISE is designed for exactly that situation.

Questions People Ask Us

Does checking my rate hurt my FICO® credit score?

No. Checking your options at RISE uses a soft pull, which isn't reported to the bureaus. If you accept a loan, a hard inquiry may follow — that's standard and has a small, temporary effect. 

What credit score do I need?

RISE doesn’t have a minimum credit score requirement. When it comes to qualification, we look at income, banking history, and repayment patterns alongside your credit profile, which is why we're able to work with borrowers that may be rejected by other lenders.  

How much can I borrow?

Loan amounts range from $500 to $5,000 depending on your state, income, and credit profile. Your approval amount is determined during the application process, but you don’t have to take out the full amount you’re approved for – just borrow what works for you. 

When do I get the money?

Applications approved before 6 PM ET are typically funded the next business day via direct deposit.*

What if I can't make a payment?

Call us before you miss it. You may be able to arrange an extension or deferral depending on your loan agreement. Getting ahead of it matters — a missed payment that's never communicated does real damage to your credit report, while a proactive conversation often doesn't have to.

Can I cancel if I change my mind?

Yes. You have five business days from your origination date to return the full borrowed amount. No interest, no fees, no penalty. 

Aundraya Ruse is a content marketing leader with more than a decade of experience in digital content strategy and consumer-focused communications. Her background includes work in personal finance and lending content, including contributions to CreditCards.com. She holds a bachelor’s degree in English from Texas Tech University and is passionate about making complex financial topics easy to understand. 

1. States where origination fees are applied include Wisconsin, Utah, Idaho, Delaware, and Missouri.