Best Personal Loans for 400 Credit Score: Top 3 Loan Options for Bad Credit Score

According to FICO, a credit scoring company, consumers with bad credit scores between 400 and 450 frequently have their credit applications denied. However, things don’t become that way. Loans for 400 credit score are still accessible.

Since roughly 62% of customers with a credit score under 579 are expected to become substantially delinquent in the future, being authorized might involve extra work, such as making additional payments or taking down deposits on credit cards.

Several credit mistakes—repeated missed or late payments, canceled or repossessed debts, and perhaps bankruptcy—lead to having a FICO credit score in the 400–450 area. Building credit takes time, but it’s an important step in the right direction.

Top Loan Places for Loans Up To 400 Credit Score

  1. MoneyMutual – Overall Best Loan Company for Bad Credit Loans
  2. BadCreditLoans – Reliable Financial Services for People with Bad Credit
  3. CashUSA – Loan Provider for Cash Advance at Best Interest Rates

#1. MoneyMutual – Overall Best Loan Company for Bad Credit Loans


A key responsibility of the short-term lending network Money Mutual is to match borrowers willing to lend money with borrowers needing loans. This website features more than 60 lenders, and you can easily select a local loan source by completing a few simple steps. You can apply for a variety of loans; we’ll talk more about that later.

Their website is simple to access. You must complete a few required forms to apply for a loan. You should wait till you start receiving several offers after the application has been submitted to several lenders. You are only filling out one form instead of 60 for each lender, making this a simpler process for you.

This service functions as a quick and simple money lender, acting as a middleman, as stated by theislandnow as well. This network is fantastic if you require a short-term loan without incurring additional costs or penalties. The fact that Money Mutual has opened its doors to those with weak or mediocre credit scores makes it all the more intriguing and alluring.


If you don’t want to phone dozens of potential lenders one by one, Money Mutual is the best way to find short-term loans from local lenders. You can avoid wasting time by choosing this option. You could find it intimidating to submit applications to 60 or more different local lenders, especially if it’s your first time.

Clients can take a loan by simply filling out an online application on the company’s official website, after which your offer will be sent directly to all 60 lending institutions that offer short-term loans. After sending the application, your relationship with Money Mutual is over. Numerous people benefited from this operating model, which demonstrated its great value and practicality.

Very informative platform

People who cannot obtain loans because of a low credit score can learn about the simplest solutions. These consumers can get the information they need from MoneyMutual’s user-friendly website. Customers can also use the various educational resources to hone their saving, investing, and spending skills.


Most customers with bad credit are hesitant to accept loans from internet lending providers because of the APR. However, MoneyMutual makes sure that the interest rates and APRs charged by its lenders are reasonable. Additionally, the lenders don’t have any extra fees. The borrower’s credit history, loan amount, and loan source may affect the APR and interest rates.


MoneyMutual implements 256-bit encryption from Norton to safeguard the data on their site. As a result, clients don’t experience data breaches or have their financial information disclosed to outside parties.

Customer reviews

Reading unbiased evaluations is one of the greatest ways to research online lenders. Before choosing to work with them, you can find out what actual consumers are saying about them.

The Better Business Bureau (BBB) has given Money Mutual an A+ rating, which is a sign of excellent customer service. Additionally, they rarely voice complaints. Additional evaluations of Money Mutual can also be found on other review websites.


You must be a US citizen or lawful permanent resident and at least 18 years old to be eligible for a loan from MoneyMutual. A consistent source of income is one of MoneyMutual’s prerequisites for obtaining a loan. As a borrower, you must be able to present that you make at least $800 per month in income and be able to name your source of income.

You must also have a legitimate checking account in your name so that, after loan approval, the lender can send funds straight into your bank account. It is important to note that even if you satisfy all of these criteria, you are not guaranteed to receive a loan offer.


  • Variable qualifying requirements
  • Easy interface
  • Resources for education
  • Rapid acceptance
  • Dependable and safe


  • $5,000 short-term loan maximum
  • Not accessible in Connecticut or New York

⇒ Visit the Official Website of MoneyMutual

#2. BadCreditLoans – Reliable Financial Services for People with Bad Credit


BadCreditLoans is a marketplace that provides loans to people with low FICO scores. Whether you need $500 or $5,000, this online lending platform can connect you with lenders who can assist you. The platform connects borrowers to a wide range of loan providers while acting as an indirect lender. Use the free credit score provided by BadCreditLoans to establish, monitor, or comprehend your credit.

For those with poor credit, the portal offers alternative financing options. With this network, finding a lender who can quickly provide you with a loan won’t be difficult if your credit score is 400. Dozens of good comments about the company show that you can quickly get an emergency fund approved. As a result, it is an excellent substitute for applying for loans from traditional lenders.

Although the platform provides efficient and quick services, it is still free to use its lending services. Furthermore, if you already have debt, BadCreditLoans has powerful lending comparison shopping highlights. This platform allows you to compare car loans, student loans, credit cars, and other financial goods. When taking out a loan on this platform, clients aren’t required to have a minimum credit score.


Quick transfer

BadCreditLoans can deposit money directly into your bank account within 24 hours if you require an unsecured personal loan. If you meet the qualifications, you can apply and obtain credit from the platform whether or not you have bad credit.

No origination fee

Many conventional loan companies charge an initial fee when they offer you loans. Even if you have an extremely low credit score, BadCreditLoans does not charge an origination fee.


BadCreditLoans is open and honest with its consumers and the lenders in its network regarding private installment loans. As a result, its official website contains information such as interest rates, terms & conditions, and other details.

APR and interest rates

The APR and interest rates offered by BadCreditLoans are competitive. As a result, you could get an interest rate of just 6% on your money. On unsecured loans, some lenders may, however, give you up to 36%.

Outstanding customer support

The customer support service at BadCreditLoans is excellent. By responding to your inquiries regarding the platform, they guarantee you receive the greatest service. Additionally, they can give you all the details required for any type of loan, including private installment loans. The crew offers assistance around-the-clock and quickly finds solutions.


  • No collateral is required
  • There is no application fee
  • Personal loans for people with poor credit
  • Competitive APR and interest rates
  • Platform for information


  • The loan amount is affected by extremely low credit scores

⇒ Visit the Official Website of BadCreditLoans

#3. CashUSA – Loan Provider for Cash Advance at Best Interest Rates


CashUSA connects borrowers with bad credit with lenders who can provide them with short-term loans. Consider a credit card company providing you with a low percentage on debt consolidation. CashUSA’s numerous lenders offer customers flexible loan repayment options.

While the platform doesn’t directly provide loans to customers, it does ensure that its lending institutions provide you with an APR of between 5.99% and 35.99%. While some lenders provide fixed monthly payments of 90 days, others allow loans with repayment terms of up to six years.

The platform is regarded as one of the best loan suppliers in the country. If your income is consistent, you may be eligible for loans between $500 and $10,000. You must fill out a form in the meantime specifying the precise loan amount you require and your justification.

Before receiving approval, you must also supply information such as your SSN, bank account, birthdate, etc.


Simple process

Thanks to CashUSA’s streamlined website, you won’t struggle to comprehend how the platform operates. As a result, you complete your loan application in a couple of moments and send it in for evaluation. If you meet the qualifications and agree to the terms, you will receive approvals within 24 hours.


Lenders’ repayment schedules vary, making it possible for borrowers with very low credit ratings to apply for bad credit loans. As a result, you can easily pay back your debt. You can use a manual online approach or an auto-payment plan to repay your loan when it’s due. To determine the best repayment arrangement, you must examine your finances.

Resources for education

The official website offers resources for education to assist clients in learning about debt relief, personal finance, auto loans, credit checks, secured loans, etc. For the most frequently asked questions by customers, consult the FAQs area.


  • Simple eligibility requirements
  • Dependable and secure
  • Educational materials
  • Simple registration
  • Simple to use website


  • You must earn at least $1000 per month

⇒ Visit the Official Website of CashUSA

How We Made This List of Loan Lenders for Quick Cash?

We know that a financial emergency might make you feel vulnerable and dependent. For instance, applying for payday loans from conventional credit bureaus may leave you trapped if you have a medical emergency that requires immediate money.

To address such issues, you might employ online payday loans. For such financial support, you must use a reputable and trusted platform.

  • Eligibility

A bank or credit union may impose strict requirements for persons with bad credit records in addition to the minimum credit score needed to be approved for a loan. However, we considered brands that met the fundamental requirements for eligibility, such as borrower age, job status, and US citizenship. Additionally, we avoided choosing platforms that require cosigners or other guarantors from the borrower.

  • Personal loans

To assist customers in meeting their financial demands, most internet platforms offer personal loans. A borrower can get additional money for pressing expenses like auto loans with a personal loan.

Such a secured loan can have interest rates based on your credit rating and repayment terms of months or years. Consolidating debt, particularly credit card debt, is another option for using a personal loan. A monthly income option is available for loan repayment.

  • Interest rate

Excessive interest rates may further impact your credit score. To pay interest rates, consumers may occasionally borrow even more. We examined the interest rates and repayment conditions offered by various sites and only included those with low interest.

  • Brand’s reputation

Because it speaks volumes about the caliber of the services they’ve provided in the past, the brand’s reputation needs to be a key consideration in your decision. For instance, if you find out many people have had negative experiences with a certain brand or if you hear from numerous sources that a certain brand is dreadful, you should steer clear of it.

On the other hand, businesses that successfully offer borrowers top-notch service will give you the simplest application process, an easy-to-use platform, and an effective customer support system. Furthermore, reliable businesses don’t charge extra for their loan services.

  • Repayment methods

We are aware of the difficulties that high-interest rates may present to borrowers with poor credit. Think about applying for a vehicle loan through a platform and being offered extremely high-interest rates that could put you in a worse financial position. As a result, the manner and length of payback are important while applying for a loan.

We looked at how simple it was to repay loans and highlighted websites that offered popular choices like paying with checking accounts, sending checks by mail, or paying using apps. Your loan repayment schedule should fit into your schedule. As a result, we examined how long each platform’s repayment period was.

  • Loan amount

With our top-rated payday loan marketplaces, you could quickly obtain a few hundred bucks, a quick loan of up to $10,000, or a long-term loan of up to $35,000. Payday lenders that resembled credit unions were given preference by charging moderate interest rates on big personal loans.

  • Income and credit rating

We only endorse online lenders who are willing to disregard your credit history. You will be handled with the same attention you would receive from your neighborhood credit union, even if your credit score is poor.

Additionally, we gave payday loan businesses with lower monthly income limits a higher score.

  • Quick funding

Before choosing the top online payday lender, we considered a lot of parameters. We started by looking for providers with quick transfer speeds and rapid approval to send your money as quickly as possible.

We looked at each company’s data security protocols to ensure your personal information was handled with the utmost care. These no credit check loans provide a same-day direct deposit in contrast to usual loans.

  • Terms and conditions

Credit unions have comparable terms and conditions for a monthly payment based on a customer’s credit history. We examined the requirements that must be met before individuals with poor credit might be approved for a personal loan. APR, minimum credit score requirements, lending restrictions, repayment alternatives, and the loan amount were also reviewed.

These variables determine the terms of a car loan, home equity line of credit, bank loan, title loan, etc. Read the terms and conditions of any bank or credit union you intend to use, especially if you require loans for people with terrible credit.

  • Ease of application

Nobody wants to spend time filling out a loan application online. As a result, we disregarded websites with protracted loan application procedures. Identity, age, gender, locality, and loan amount are the fundamental information needed for loan acceptance.

  • Fees

When granting customers a personal loan, a financial institution must follow various guidelines. As a result, we examined these regulations and chose personal loan providers with forgiving offers. Our top loan networks offer adjustable upfront fees, monthly bills, and penalty fees for customers with low credit scores.

Customers who receive personal loans pay a processing cost deducted from the loan as an origination fee. We also looked at what occurs when a client misses a payback due date.

How to Pick a Lender for Loans for 400 to 450 Credit Score?

  • Transparency

Avoid using loan networks with scant internet information. To discover more about their services, you should read client reviews. If you must apply for a loan through a new lending credit union, research the organization beforehand to ensure transparency.

  • Additional fees & sanctions

Extra fees and penalties are some of the crucial aspects to take into account when choosing a lender platform.

  • Variety of options

Make sure to read the terms of the contract carefully. The small print may contain explicit conditions that you originally agreed to. Contract terms might include the loan’s terms of service and the debtor-creditor agreement. Evaluate the loan conditions offered by different lending institutions.

To find the best loan deal, you should use an internet marketplace to compare quotes from various lenders. You can reject the initial offer anytime because it is not obligated. Investigate the lending institution further. To be cautious, do your homework on potential loan providers.

  • Terms and conditions

To prevent needless financial difficulties in the future, you should examine the terms & conditions of lenders before applying for a loan.

You don’t want a high-interest rate to further damage your credit scores. Therefore, we advise looking for the best platform to provide you with advantageous loans.

  • Brand’s reputation

A loan firm’s reputation should be considered before making a choice. The company’s history and customer feedback may impact this choice. Reading client testimonials can help determine whether a business is trustworthy in the first place. To learn more about the company’s reputation, do an internet search for it. You can look up any client grievances or lawsuits brought against them there. You may check their BBB rating to see if they have a good reputation.

  • APR

Using a lending platform can help you find loans that fit your needs. However, different online lenders will have different APRs. To determine which lending organization makes you the greatest offer, you must read it. Although they can be higher, APRs are typically between 5 and 8%. Thus, give it some thought before accepting a loan.

You must be conscious of the APR your lender charges you in exchange for security. It is better to ask questions while speaking with your lender. You could have to spend more money than you can afford if you don’t pay attention to this conversation.

Some people are now frequently unable to get payday loans due to hefty APRs. To determine whether it is secure to apply for a loan from a specific brand, ask around about the lender you should choose or conduct in-depth research on the available companies.

  • Privacy & security

You must not disregard a platform’s security regarding loan applications. As a result, you need to be sure that the lenders are using a secure platform to safeguard your interests.

  • Interest rate

People with low credit scores are looking for methods to raise their scores. They, therefore, take into account the cost of every loan they obtain. Thus, before accepting a loan, you should examine the terms.

You should be aware that the interest rate given to you is based on both the loan amount you seek and your credit history.

  • Eligibility

You should think about the requirements for approval before applying for any loan. Checking your qualification and whether persons from countries other than the U.S. can apply for such a loan are the first things to do. Because of this, most platforms will only work with Americans with stable jobs and bank accounts.

You should find out if the platform approved your loan application, given that you have a 400 FICO score.

  • Customer satisfaction

Customers should receive expert assistance from the customer care department since they use remote loan service providers. How can the customer service of a platform be evaluated? You should browse various user reviews online to find out more about a lending network.

What Do You Need to Know About Debt Consolidation Loans?

There is nothing improper with taking out loans or applying for online payday loans. A crucial component of the discipline is having well-managed debt. Because of their extremely high-interest rates and fees, payday loans are challenging to handle. People who are currently living paycheck to paycheck and are likely to find it challenging to pay off the debt in full are the target audience for this sort of loan.

  • Commission and interests

Depending on the increment of the borrowed money, the commission for a payday loan may be a set fee or a percentage of the total amount. The commission, for instance, might be $ 15 for a loan of $100, with an additional $15 for every subsequent $100. If the borrower cannot return the loan within a certain time, the cost is reissued each time the loan is renewed.

Additionally, payday loans have an annual percentage rate (APR), which adds to the cost and is based on various variables. It is particularly difficult for people who are on fixed incomes. They won’t have enough money to last until their next salary after repaying a one-paycheck loan.

Another loan is frequently obtained in this circumstance with the same costs and annual interest rate. Once you’re stuck in this loop, it becomes very challenging to make it until your next paycheck without taking out another payday loan, which you pay off.

  • Fees and repayment

The expense of obtaining a payday loan quickly piles up due to frequent fees, brief payment terms, and small amounts. Companies that offer financial counseling supported by an employer frequently make this point.

Loan Advantages

A loan’s fundamental benefit—immediate cash for an emergency—is why people look for it. Everybody experiences emergencies differently. Making a monthly auto payment to prevent repossessing your car is just as urgent as paying your electric bill to prevent the power cut-off.

A borrower’s application for an online loan is frequently granted, even with bad credit. If you are eligible, the money should be available immediately, often 24 hours after approval.

  • No eligibility criteria

This can be the simplest kind of short-term loan offered. Unlike typical loans, they do not have severe eligibility requirements.

Most payday lenders demand that applicants have a valid ID or driver’s license, be of legal age (18 or older), have an active bank account, have a consistent monthly income, and be of legal age. This makes it quite easy to meet the requirements for and receive approval for a payday loan.

  • Short term of repayment

Although some people might view this as a drawback, it has advantages. Why? Because short-term repayments have an interest rate that is significantly lower than long-term repayments. Additionally, you won’t have to worry about owing the lender money because you’ll be free of debt in two weeks or less.

If you want to pay a lower monthly rate, some financial institutions may allow a debt repayment term of up to three months. Make sure the interest rate is reasonable in this instance and that you won’t pay off the obligation in full.

  • The best option in an emergency

Payday loans are the finest financial choice in an emergency. You can apply at any time on the lender’s website, and their customer care is accessible twenty-four hours a day, seven days a week.

Additionally, the approval process takes roughly 30 minutes, and the money is paid into your bank account the same day. You need constant access and lightning-fast finance when you need money now.

  • Reliable

Reputable online payday loan providers can give you the funds you require right away. They frequently approve loans for everyone who applies, regardless of the borrower’s credit history.

This isn’t always the case when you contact your relatives and friends for a loan. They might not even be willing to give you the money.

Loan Disadvantages

The major drawback of a payday loan is that the interest rate will probably be high. People with poor credit are more likely to apply for payday loans, and since they are seen as a bigger risk, they will be charged a higher interest rate.

Payday lenders frequently impose an APR of 391% or 2,290% on borrowers with poor credit histories.

  • Unaffordable

According to Pew, the average payday loan consumes 36% of the average borrower’s gross income. Most people can only manage to pay 5% of their earnings toward a loan while still having money left over for necessities.

  • Recurring expenses

Payday loans are frequently utilized for recurrent obligations like rent and electricity, even though they are marketed as being used for emergencies only. If you find it difficult to pay your rent and other monthly bills, a payday loan may help. 58 % of borrowers, who earn an average of $30,000 annually, report difficulty paying their monthly bills.

  • Due quickly

Payday loans often have a two-week grace period based on the borrower’s pay cycle. An online lender will immediately access a borrower’s checking account on payday to ensure that it can collect before other expenses are paid. In addition to allowing loans to be repaid over months rather than weeks, several lending networks we’ve suggested may also have reduced interest rates.

FAQs About Personal Loans for Fair Credit

Q1. Can I receive a loan if my credit score is in the 400s?

It’s crucial to remember that any personal loan you obtain with a credit score of 400 will probably have a very high APR and a hefty origination charge. If at all possible, consider borrowing money from friends and relatives or finding a less expensive source of credit.

Q2. How much loan can I get while having bad credit?

Even if numerous internet lenders may give you thousands of dollars despite your poor credit, you might have to pay higher interest rates for these loans. As a result, you should consider what the lender offers in terms of credit scores. For example, your credit score may cause you to be qualified for a lower loan.

Q3. Why do internet lending marketplaces outperform traditional lenders?

You can apply for loans from many lenders without leaving your house using an online lender. You also won’t have to complete voluminous paperwork or respond to never-ending financial questions.

You can also compare the rates and choose the most advantageous one for your application for an emergency loan. Last but not least, you can gradually raise your low credit score using an internet lender.

Q4. How can I improve my credit score?

Making sure that your prepayments and repayments occur on time is the simplest way to raise your credit score. You should also repay your short-term loans.

Q5. How can I check my credit score?

A credit check can be utilized only if you’ve previously obtained a loan from a lending platform. When you get a loan, you get a credit score based on how you repay it. Individuals who have never received a loan, on the other hand, don’t have credit ratings.

Q6. What kind of loan can I easily get if my credit is bad?

Particularly with your terrible credit, you can get approved for a personal loan faster than most other types of loans. On the other hand, personal loans are popular since they frequently come with no collateral.

Unsecured loans signify that borrowers can obtain an accepted loan from these internet lenders without providing any collateral. However, you must pay very high-interest rates because of your poor credit score. Before they may provide you with a short-term loan, most lenders run your credit.

Q7. What distinguishes secured loans from unsecured loans?

A loan that is secured has collateral as security. Mortgages and auto loans, which use your home or vehicle as collateral, are the most popular secured lending varieties. However, collateral might be any type of financial asset you own. Additionally, the bank has the right to take your collateral as payment if you default on your loan.

Your credit report will include a repossession for up to seven years. Loans that aren’t covered by collateral are nonetheless subject to interest and, on occasion, fees. Personal and student loans and credit cards are examples of unsecured loans.

Because unsecured loans lack collateral, financial institutions base their decision to approve you on your credit report, income, and history of on-time debt repayment. As a result, the interest rate of unsecured loans in most situations is higher than secured loans.

Q8. Can I receive an approval even with bad credit?

You cannot be guaranteed loan acceptance from legitimate lenders. Lenders frequently reject applicants, even those with great credit. You can use online lenders to increase your chances of approval even if you have poor credit.

Q9. Can I get a loan on the same day?

However, the pace of loan processing typically depends on how quickly you complete the lender’s terms and loan application paperwork.

While some lenders can deposit money in your account within one business day, others may need a little more time. In any case, most payday loans are quickly completed and often cashed within 48 hours or less. It is best to ask your selected lender how quickly the cash will be handled because loan terms differ between lenders.

Q10. What credit score must I have to apply for a vehicle loan?

In the US, many people use car credit express for their auto loans. If your credit score is 400, you can still acquire a loan for a new car. While a traditional lender may grant a secured loan to a borrower with poor credit, you can use some of the lenders on our list of top picks for funding instead.

Q11. Do personal loans help to improve credit?

Installment credit, such as personal loans, impacts your credit report and credit score. Your credit mix will be stronger if it includes both installment and revolving credit. A diversified credit mix is beneficial, but it’s not the only thing. There is no use in taking on debt (with interest) unless you need it. Some people claim that installing a second installment loan, such as a mortgage or vehicle loan, can raise your credit score.

A new installment loan could raise your score by improving your credit mix, but a personal loan won’t help your credit score over time unless you can afford to make your payments on time. Missed and late payments leave a bad impression on your credit report.

While taking out an installment loan will not help your credit score much, repaying off a credit card loan with a personal loan may. Your credit utilization rate, which plays a significant role in calculating your credit score, will be greatly affected by paying off a card.

Q12. Which internet lending platform can I use?

You choose a lending platform depending on the loan size, interest rate, and flexibility of terms and conditions. You can use some of the platforms discussed in this article to apply for loans if you have a low credit score.

Concluding on Loans with a Credit Score of 400

If you know the platform, having terrible credit shouldn’t prevent you from getting an emergency loan. Applying for a poor credit loan is a straightforward process. You wouldn’t have any trouble applying for a loan, regardless of whether you wish to try using an internet lender or have already done so.

These websites also give you the chance to compare the services, conditions, and rates provided by various loan providers.

Additionally, you might discover educational blogs that will teach you about working with internet lenders. Utilizing user reviews, you may swiftly decide on the platform for your loan application.

Finally, you can look at some of the websites we’ve recommended if you want to enroll for the best bad credit loans for 400 credit score.

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