7 Personal Loans for 600 to 700 Credit Scores

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Updated on Monday, January 25, 2021

A 600 credit score isn’t ideal, but a score between 600 and 700 might qualify you for a variety of personal loans for fair credit or better. It’s likely you’ll be offered an annual percentage rate (APR) above what lenders typically offer to borrowers with strong credit. Still, the lenders below may be able to extend you options, and you can check for estimated loan offers without dinging your credit score.

  1. Best Egg
  2. Payoff
  3. Prosper
  4. Upgrade
  5. Peerform
  6. Upstart
  7. Avant
7 personal loan options for a 600-700 credit score
APRBorrowing amountOrigination feeMinimum credit score required
Best Egg5.99% to 29.99%$2,000 to $50,0000.99% - 5.99%640
Payoff5.99% to 24.99%$5,000 to $40,0000.00% - 5.00%640
Prosper7.95% to 35.99%$2,000 to $40,0002.41% - 5.00%640
Upgrade5.94% to 35.97%$1,000 to $50,0002.90% - 8.00%620
Peerform5.99% to 29.99%$4,000 to $25,0001.00% - 5.00%600
Upstart6.46% to 35.99%$1,000 to $50,0000.00% - 8.00%600
Avant9.95% to 35.99%$2,000 to $35,000Up to 4.75%Most customers have a 600-700 score

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1. Best Egg

Best Egg offers an unsecured personal loan up to $50,000 for borrowers with credit scores as low as 640. The loan comes with a low minimum borrowing amount, $2,000, and it can be used for almost anything. It’s also possible to have up to two loans at a time as long as the combined balance doesn’t exceed $50,000.

At Best Egg, both the minimum and maximum APRs are lower than for most of the lending companies on this list. However, you won’t be able to avoid an origination fee no matter how strong your loan application is. The terms you ultimately receive will depend on factors like your credit score, income and how much other debt you have.

There’s no prepayment penalty if you pay off a Best Egg loan early. For late payments, If you are 3 or more days late, there is a $15 fee..

To qualify for a Best Egg personal loan, you’ll need:

  • A minimum 640 credit score
  • To be a U.S. citizen or an authorized permanent resident currently living in the U.S.
  • A valid bank account, email and physical address

Best Egg doesn’t offer loans in Iowa, Vermont, West Virginia, the District of Columbia or the U.S. territories.

Choose Best Egg if…

You are prequalified for a loan that comes with a low interest rate and origination fee. Best Egg might be a particularly good option if you need a low loan amount or need a personal loan for business expenses. Unlike some lending companies, Best Egg doesn’t prohibit you from using loans for this purpose.

2. Payoff

Payoff personal loans are intended to be used to consolidate and pay off credit card debt, with a single monthly payment and possibly at a lower interest rate. Loans range from $5,000 to $40,000, and your final amount will depend on your credit history and how much debt you want to consolidate.

Payoff has the lowest maximum APR of any lender on this list, and it’s possible you won’t be charged an origination fee. Unlike many lenders, Payoff doesn’t charge other types of fees, such as for late payments. Still, if your payment is more than 30 days past due, Payoff, like most lenders, may report it as late to the credit bureaus.

To qualify for a Payoff personal loan, you’ll need:

  • A minimum credit score of 640
  • Credit card debt you want to consolidate
  • At least three years of credit history
  • No currently delinquent credit card accounts
  • Proof of income

Payoff doesn’t offer loans to residents of Massachusetts, Mississippi, Nebraska or Nevada.

Choose Payoff if…

You plan to refinance or consolidate credit card debt, as Payoff offers loans expressly for this purpose. If your credit score is at least 640 and you want to consolidate credit card debt, you may find it easier to qualify for a Payoff loan — and pay less interest and fees — than with other debt consolidation loans for fair credit.

3. Prosper

It’s possible to apply for a personal loan at Prosper’s website, but it isn’t technically a lender. The company functions as a peer-to-peer loan marketplace, which means it connects borrowers with one or more investors.

With a lending marketplace, it may take longer to see your loan funded. There’s also a chance you may not get a loan at all. Prosper, for example, takes down loan requests after 14 days have passed and they’ve received less than 70% of the necessary funding.

APRs are high compared to some of the lenders on this list. Prosper offers a 2.41% - 5.00% cap on origination fees, but expect to pay fees for late payments, insufficient funds and a processing charge for every payment made by check. One way to boost your loan eligibility is to apply with a co-borrower. Depending on that person’s creditworthiness, you may qualify for better loan terms like a lower interest rate.

To qualify for a Prosper personal loan, you’ll need:

  • A minimum credit score of 640
  • Less than five hard credit inquiries over the past six months
  • Verifiable income
  • A debt-to-income (DTI) ratio that’s 50% or less
  • At least three open credit accounts on a credit report
  • No bankruptcy filings over the past 12 months

Prosper doesn’t currently offer loans in Iowa or West Virginia.

Choose Prosper if…

You have difficulty getting a personal loan with a fair credit score on your own. Applying with a creditworthy co-borrower may increase your chances of getting a good offer.

4. Upgrade

Upgrade is an online lender that offers unsecured personal loans and a line of credit. To be considered for a personal loan, your credit score can be as low as 620 and you may be able to borrow as little as $1,000. You can also apply with a co-borrower for a potentially larger loan amount or lower interest rate. All loans come with fees, like an origination fee that ranges from 2.90% - 8.00%.

At Upgrade, APRs, as well as origination fees, are generally higher than for many of the lenders on this list. For some borrowers, Upgrade’s line of credit might be a more affordable option. It comes with slightly lower interest rates, doesn’t charge any fees and also offers a chance to borrow up to $50,000.

To qualify for an Upgrade personal loan, you’ll need:

  • A minimum credit score of 620
  • To be a U.S. citizen or a permanent resident. or living in the U.S. with a valid visa
  • A valid bank account and email address

Upgrade doesn’t offer personal loans in the District of Columbia, Iowa or West Virginia.

Choose Upgrade if…

You only need a small (or relatively large) amount of money, then Upgrade’s personal loan for fair credit might be a good option. It’s also worth considering if you can apply with a joint borrower whose credit history is stronger than yours. But keep in mind, even If that is the case, other lenders may offer you more favorable terms.

5. Peerform

Like Prosper, Peerform is a peer-to-peer loan marketplace rather than a lender. You’ll need only a 600 credit score to be considered for a loan, but your loan amount will also need to fall in between $4,000 and $25,000. That’s a smaller range than for any lender on this list.

Loans are generally for 36 or 60 months. If you qualify, your interest rate and fees might be substantially less than at Prosper. However, according to Peerform’s website, only applicants with their best credit qualify for a 1.00% - 5.00% origination fee. Other fees to consider include a $15 charge for check processing and unsuccessful bank payments. If your loan payment is 15 days or more late, you’ll also need to pay a fee that is 5% of the monthly installment or $15, (whichever is greater) of what you owe that month.

To qualify for a Peerform personal loan, you’ll need:

  • A minimum credit score of 600
  • A DTI ratio below 40%
  • At least one open bank account and revolving credit account
  • No currently delinquent credit accounts
  • No tax liens, judgments, non-medical accounts in collections or bankruptcies over the past 12 months

Peerform personal loans are available in every state except Connecticut, North Dakota, Vermont, West Virginia and the District of Columbia.

Choose Peerform if…

Your credit score is in the low 600s and you’re having trouble getting qualified for a personal loan elsewhere. If your score is higher, loan offers through Peerform still might be worth considering because of the generally lower interest rates. However, other lending companies may be able to offer you a more straightforward borrowing process and fewer fees.

6. Upstart

Upstart is an online lending platform. Unlike traditional lenders and loan marketplaces, it uses artificial intelligence and other technology to evaluate borrowers — like young adults — whose credit histories might otherwise not qualify them for a loan. Besides considering your credit history, Upstart considers data like income, savings, how you plan to use the funds, college major and your grade-point average (GPA).

Upstart still charges interest rates and loan origination fees that are near the top of this list. However, the company’s approach has been shown to produce more approvals for loan applicants with fair credit, and with generally lower interest rates. Applicants with FICO scores between 620 to 660, for example, were twice as likely to get approved. In most states, you can also use an Upstart loan to pay college, grad school or a career bootcamp — something lenders like Best Egg don’t allow.

To qualify for an Upstart personal loan, you’ll need:

  • A minimum 600 credit score
  • A U.S. residential street address (unless you’re active duty military)
  • A regular source of income or an offer to start a full-time job within six months
  • No bankruptcies or delinquent accounts in your credit report
  • Less than six hard credit inquiries over the last six months (inquiries for student loans, auto loans and mortgages are excluded)

Upstart doesn’t offer personal loans in Iowa or West Virginia.

Choose Upstart if…

You’re looking for loans for fair credit and think your employment and educational history might help you qualify for more favorable terms. Upstart is also worth considering if you’re looking for a personal loan for education expenses. However, if that’s the case, federal student loans are often more affordable than private loans and come with federal borrower protections.

7. Avant

Avant offers two kinds of personal loans: unsecured loans and auto title loans secured by the collateral you have on a car or other vehicle. Both loans provide cash and charge the same APRs, but you may be able to get up to $35,000 with the unsecured loan versus $25,000 for the auto title loan.

For the personal loan, you’ll need to pay an administrative fee up to 4.75% of your loan amount. For the secured loan, you’ll be charged a 2.5% administrative fee, plus $4 to $95 in state lien fees, depending on where you live.

Avant doesn’t post a minimum credit score at its website. However, with any unsecured personal loan, because of the lack of collateral, your loan’s rates and terms will be determined by your creditworthiness. You might qualify for a lower APR with Avant’s auto title loan, but you risk losing your vehicle if you can’t keep up with loan payments.

To qualify for an Avant loan, you’ll need:

  • At least a 600 credit score
  • A valid checking or savings account
  • A vehicle you own in full and which is no more than 10 years old (for the auto title loan)

Choose Avant if…

You can’t get approval from another lender for a personal loan that comes with lower fees. Avant offers larger amounts for its auto title loans than do similar lenders, but there are less risky ways to get money, like finding a loan that lets you bring in a co-borrower or a cosigner.