Can you get a personal loan with a credit score of 550?

+1 vote
asked Jan 4 in Credit by Pennyhirsh (260 points)
Can you get a personal loan with a credit score of 550?

1 Answer

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answered Jan 4 by Gracy (34,860 points)
You could get a personal loan with a credit score of 550 if you have someone cosign the loan agreement and you have something such as a vehicle to put up as collateral.

Or you could go to One Main Financial and try to get approved for a personal loan through them since One Main Financial has no requirement of a minimum credit score to approve a person for a personal loan.

If you do get approved for a One Main Financial loan then your credit rating will improve overtime as long as you make on time payments and never miss a loan payment and keep it in good standing.

When your credit rating improves you could then get loans from other loan companies or banks and pay a lower interest rate on the loan.

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