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Can you get an unsecured personal loan with a credit score of 574?

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Answered 2007-04-13 02:50:46

A lot would depend on why the credit score is so low-- if it is due to slow paying on loans probably not, unless you have a good reason- if it is due to medical collections yes. My advice is to go to the bank/credit union you have your checking account with and talk to a loan officer about your application and predicament. The bank can look back at your checking and see how you have maintained it. It can be a good indicator for them--specially if you have direct deposit. This will verify that you are working. If you don't have a checking account go to a credit union and again talk with a loan officer first. If nothing else, see if you can do the loan with a co-signer. Better to fix the situation now than later. REMEMBER--each time your credit is pulled, the scores lower making it more difficult to get a loan. The chances are slim to none.......I have done lending on these type of personal loans and the lowest I've seen done in 9 years plus is a Beacon of 610

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Related Questions

How get unsecured personal loan?

Unsecured loans are on the basis of good credit score since there is no collateral involved. The lender determines your credit worthiness on the basis of your credit score. Since he has no collateral he has to depend on the credit score to decide whether you are a lender's risk or not. If you have good credit score then you can easily get unsecured personal loan from Banks and NBFCs Such as SBI, PNB, Bajaj Finserv etc.

Where can you get a personal unsecured loan with a credit rating of 567?

You can absolutely get a loan with this credit score, but bear in mind your interest rate may be very high.

If your credit score is 520 and have bad credit can you get an unsecured loan?


How does an unsecured personal loan work?

Basically an unsecured personal loan means that you are not putting up any collateral such as a car or home. Therefore, lenders are more apt to charging a higher interest rate or require a higher credit score in order to qualify for a loan.

Is it possible for a person with a credit score below 450 to get a personal loan with no collateral?

It is very improbable that you will get an unsecured loan with a credit score in the 400's. Unless you show that you are trying to rectify the reason for your score to be so low and show proof that you are doing so.

Will a credit score be better or worse if you take out an unsecured personal loan to pay off credit card debt?

If you get a loan, pay off credit cards and keep the loan payments current until it is paid off. Your CR will be pretty darn good.

What is a non secured loan?

An unsecured loan is a loan that is not backed by collateral. Also known as a signature loan or personal loan. Unsecured loans are based solely upon the borrower's credit rating.

What is the difference in interest between car loan and personal unsecured loan and which is better a car loan or personal loan?

personal loan have a higher interest rate than car loans beacause they are unsecured loans . In car loan the loan is used for only purchase car .In a car loan, the loan is only used to buy a car, but you can use it as personal items in a personal loan. Interest rates start at just 8.50 percent for a car loan, but can rise 16 percent based on one's credit score and credit history. Find out more, please click

Can an unsecured loan be used to buy a personal computer?

Many banks offer unsecured personal loans for people with great credit. If you need a fast personal loan check with bank of america or chase.

What is the difference between car loan and personal unsecured loan?

A car loan is a secured loan. If you don't pay the car loan, the lender can repossess the car. A personal loan is a loan based on your credit worthiness as judged by credit reporting agencies like Equifax. This "credit rating" is usually based on a FICO score, which views a variety of factors such as credit experience, lines of credit outstanding and payment history with other companies.

Where can you get a personal loan with a 577 credit score?

You can get a personal loan with a 577 credit score at places such as Rise. The associate percentage rates are often high, however.

Does unsecured loan affect the credit score?

Not only unsecured loans, but any loan you take affect your credit score.If you are paying the EMIs regularly without delay then it will boost your credit score and vice-versa.If you are interested in taking any loan then you can visit gosahi com, submit your details and choose the bank with best interest rates. It's as easy as that.

How would I get an unsecured loan?

Well, if you are in need of money, and your credit score is low, you aren't going to get an unsecured loan. You should try to get a bad credit loan, if you need it but the interest rates will be high. Just ask your local bank what you qualify for.

Are Business Credit Cards A Line of Credit?

Yes, business credit cards are a superb way to build your business’ score, which will help you get an unsecured loan. In case your personal credit rating is just too low to qualify for a loan, it’s possible to apply a business credit card to set up an independent business credit score over time.

Where can one get unsecured personal loans with bad credit?

If someone has got a bad credit record then they will find it harder to get an unsecured personal loan. They will need to go to a broker to find what deals might be available.

What are some good sources for unsecured personal loans?

Banks and credit unions are sources of unsecured loans. If you must take out an unsecured personal loan, shop around for the best interest rates, loan terms Here are some things to consider before getting a payday loan.

How can a personal loan be unsecured?

There are many kinds of personal loans that can be unsecured. When a loan is unsecured it just means that it isn't as protected as a regular loan and how more red tape to cross.

What Is The Difference Between Unsecured Loan And An Unsecured Line Of Credit?

An unsecured loan has a set repayment term. An unsecured line of credit can be paid off at your pace and can be used over and over.

What is the interest rate on an unsecured personal loan?

The interest rates on an unsecured personal loan vary greatly from loan to loan. If your loan is through a Credit Union, it can be as low as 1.9%, whereas if it is a high-risk loan secured through a private business, the interest rate could be as high as 30% or more.

How can you obtain an unsecured loan?

There are many different ways to obtain an unsecured loan. You can apply for one at your bank, online, or other financial institutions. Most require you to have good credit, while other places can give you a loan regardless of your credit score.

Can you get an unsecured personal loan with bad credit?

Probably, with a good employment history, been living at the same place for a long period of time, they will charge you with a high interest rate. Reality: If your credit score is below 600, YOU CANNOT get personal loan from a traditional lending source. You are relegated to the dangerous "pay day loan" lenders.

What qualifications must a borrower have to get unsecured loans?

A borrower must have good standing credit to get unsecured loans. Also they must be good of their word, in that they are trustworthy to pay back the loan. A credit score of over 650 and also having a cosigner to receive an unsecured loan is the most desirable to lenders.

How does one obtain an unsecured personal loan?

Banks like CIBC provide unsecured personal loans for people that have a bad credit history. The main advantage of an unsecured loan is you can avoid paperwork and you get fast approvals, the only problem is you're not backed up by any security.

How can one prevent bad credit from an unsecured personal loan?

The number one way to prevent bad credit from an unsecured loan is to pay off the loan as quickly as possible. Make sure payments are always on time and in the full amount. Once the loan is paid off in full your credit rating should increase.

What is the lowest credit score you can have to really be considered for a commercial bank loan?

As of October 20, 2008, they are going to merge with T.D. BankNorth. A Credit Score of 640 is needed for a "Personal Loan". As of October 20, 2008, they are going to merge with T.D. BankNorth. A Credit Score of 640 is needed for a "Personal Loan".