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Best Personal Loans for Fair Credit
Borrowers with fair credit (typically 580-669) have solid options, though rates run higher than what excellent-credit borrowers receive — several lenders specifically cater to this credit tier.
Top Lenders for Fair Credit
| Lender | Min. Credit Score | APR Range |
|---|---|---|
| Upstart | 580 | 6.40%–35.99% |
| Discover | 660 | 7.99%–24.99% |
What "Fair Credit" Means for Your Rate
Fair credit borrowers typically see meaningfully higher APRs than excellent-credit borrowers, though still generally better than payday loans or other high-cost alternatives — comparing multiple lenders is especially important at this tier.
Improving Your Score Before Applying
If you have flexibility on timing, even modest credit improvements (paying down credit card balances, correcting report errors) before applying can meaningfully improve your rate offers.
Common Mistakes
Not shopping multiple lenders — rate variation is often more pronounced for fair-credit borrowers than for those with excellent credit, making comparison shopping especially valuable.
Frequently Asked Questions
Generally considered to be in the 580-669 range under the FICO scoring model, though exact tier definitions can vary slightly by lender.
If you have flexibility and time, even modest improvements can meaningfully lower your rate — but if you need funds urgently, fair-credit lenders still offer reasonable options.