Getting a Personal Loan With 442 Credit Score in 2023

See what can a 442 FICO score get you
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You have a chance to get a personal loan even with a 442 credit score. The only issue is that in comparison with people who have better credit, your APR is higher. Though this varies from lender to lender, on the average, for example, an individual with a credit score within the range of 720-850 will be charged an APR* of 9% for a personal loan, a person with a credit of 442 will get an APR* as high as 19% – 25.24%.

Our top pick:
CashUSA can help you secure a loan of up to $10,000 in just three easy steps: Complete the secure online form, review the offer presented and receive funds into your account.
  • Minimum credit score*: All credit types accepted
  • Credit inquiry type*: Soft
  • Minimum loan amount: $500
  • Maximum loan amount: $10000
  • Loan terms: 90 days to 72 months
  • APR*: 5.99% – 35.99%
  • Turnaround time: As early as 1 business day
  • Must have a monthly income of $1,000+ after taxes and valid checking account.
  • Bad credit is OK
  • No collateral needed
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When you have a 442 FICO score or something close to that, the truth is that what you have is a low credit score. Having a bad credit score means that you have been consistently found wanting when it comes to handling your financial life. It is advisable that you check through all three bureaus in order to be sure that there is no mistake somewhere about your credit.

Where to get a loan with a 442 credit score?

In spite of your 442 credit score, there are lenders that will grant you a personal loan to meet the needs for which you need it. Below is a list of some of such benevolent companies:

Min. credit score*
Max. loan amount
Min. credit score*300+
Max. loan amount$10000
APR*5.99% – 35.99%
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CashUSA can help you secure a loan of up to $10,000 in just three easy steps: Complete the secure online form, review the offer presented and receive funds into your account.

Personal Loan Requirements

Various lenders have their own personal requirements before they can grant a personal loan request. The difference in requirements is however negligible. Generally, it is required that you are 18 years old or above before you can be eligible for a personal loan. It is also required that you have a consistent source of income with credible proof.

Banks often demand photo, Age proof, ID proof, Income proof, Bank statement, Residence proof, as well as signature verification proof. Other credit unions are not necessarily going to ask you for this much before granting you a personal loan.

Having trouble getting a personal loan?

In case things get so bad that you are unable to get a personal loan with 442 FICO score or you want another option you can check out, you can go for a payday loan. A payday loan is a short-term loan that requires the personal check of the borrower. The check will be held by the creditor until you have been able to pay back. This can also be done by signing over electronic access to your bank account to receive and repay payday loans. It is, however, advisable to get a personal loan instead.

PayDay Loans option

As much as it is true that Payday loans are more expensive when compared to getting a personal loan, Payday loans have some exciting advantages over personal loans that makes it also a worthwhile option. Payday loans can be easily gotten when compared to Personal loans. Your credit score does not matter before you can get Payday loans.

People with 442 credit score can easily access Payday loans without having to worry about their credit and that is why some people feel is a more viable option in comparison to Personal loans. Hence, if you need quick cash without credit score complications, Payday loans are the preferable option. Never forget that Payday loans are not ideal for covering major expenses.

The annual percentage rate (APR) of a typical two weeks payday loan with a $15 for $100 loan is 400%. Hence, no doubt, Payday loans are more expensive, however, they are not without their advantages too. Hence, a viable option.

5 things to know to get a personal loan with 442 credit score

As stated earlier, a bad credit score is not the end of the world, you can still get a personal loan, below are five things you need to know to get a personal loan despite your 442 credit score:

  • Re-check your credit score first – the accuracy of your credit score is important when it comes to getting a personal loan.
  • Find out the interest rate first – Ensure you know the interest rate before requesting for a personal loan.
  • Personal loans, unlike the typical mortgage loan, is only a short-term solution. It lasts only up to seven years or less.
  • Banks are not the only option – You can also get personal loans from nonprofit credit unions and the amazing thing is that their interest rate is often lesser than that of banks.
  • Watch out for extras and fees – It is important to know that some creditors insert insurance policy, as well as other charges when you request for a personal loan. Hence, be double sure of all charges accompanying the loan.

Getting a Credit Card is also an option

Apart from getting funds through personal loans or Payday loans, you can also get funds by opening a new credit card. There are credit cards you can have access to in spite of low credit score. These credit cards are especially suitable for people trying to build their credit score. They afford you the opportunity to get fund while ultimately building your credit score.

These credit cards have lesser requirements in getting them. It is, however, important to note that they offer lesser lucrative rewards. They have low upfront fees, pre-qualification checks, as well as all three credit bureau reporting. Some of these credit cards are secured while some are unsecured. Check out the list of some of the best credit cards for people with a bad credit score below:

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Personal Loan Calculator for 442 FICO Score*