Best Personal Loans in 2026: Compare Rates, Lenders, and How to Qualify

Personal loans can cover big expenses, such as debt consolidation or emergencies, when you want predictable monthly payments. The best personal loan for you depends on your credit score, how much you need to borrow, and whether you want to prequalify with a soft credit check.

Below, compare top lenders and marketplaces for 2026, plus quick guidance on how to qualify and where secured or thin-credit options fit.

Table of Contents

1. Best personal loan providers
   1. Credible (Best marketplace)
   2. Upstart (Best for little to no credit)
   3. LendingTree (Largest selection of lenders)
   4. Upgrade (Best for fair credit)
   5. Navy Federal Credit Union (Best for military members)
   6. Prosper (Best peer-to-peer lender)
   7. SoFi (Best for good credit)
   8. Happy Money (Best for credit card debt)
   9. Best Egg (Best secured personal loan)
   10. LightStream (Best for excellent credit)
   11. LendingClub (Best for joint loans)
   12. PenFed Credit Union (Best credit union)
2. How to qualify for a personal loan
   1. With fair credit (580 – 669)
   2. With bad credit (below 580)
   3. With no credit history
3. How to get the best rates
4. How to compare personal loans
5. Personal loans with no credit check
6. Is a personal loan my best option?
7. How to apply
8. FAQ

Reviews of the best personal loan providers 2026

If you’re interested in which companies offer the best personal loan rates, or make qualifying as simple as possible, we’ve got you covered. Read on to see how the lenders we’ve profiled compare and learn why they made our list.

Credible

Best Marketplace

4.9 _/5

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Why Credible is the best marketplace

Credible makes it easy to compare personal loan lenders in one place. You can check rates and get quotes without affecting your credit scores. It’s the best personal loan marketplace for borrowers who prefer simplicity and convenience.

• Compare loans from multiple curated lenders
• Get prequalified loan offers in as little as 2 minutes
• Get funded within a few business days

• Origination fee of up to 12%
• No option to apply for joint loans

Rates (APR)	6.99% – 35.99%
Loan amounts	$1,000 – $200,000
Repayment terms	1 – 10 years

Eligibility requirements

• Soft credit check? Yes
• Minimum credit score: 580
• Minimum income: Not disclosed
• States: Loan partners may not be available in all states

Repayment terms

Credible loans have repayment terms ranging from one to 10 years. Some lenders may charge a prepayment penalty if you pay your loan off early.

Upstart

Best for Little to No Credit

4.8 _/5

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Why Upstart is the best personal loan for no credit history

Upstart believes no credit or thin credit shouldn’t prevent you from getting a personal loan. It has no minimum credit score requirement, and your rates are influenced by more than just your credit profile. You can use an Upstart loan to build a positive credit history with on-time monthly payments.

• Funding is available as soon as the next business day
• Borrowers with little to no credit history can still get approved
• No prepayment penalty if you pay your loan off early

• Origination fee of up to 12%
• Limited repayment term options

Rates (APR)	7.80% – 35.99%
Loan amounts	$1,000 – $75,000
Repayment terms	3 or 5 years

Eligibility requirements

• Soft credit check? Yes
• Minimum credit score: None
• Minimum income: Not disclosed
• States: All 50 states and Washington, D.C.

Repayment terms

Upstart doesn’t offer as many loan terms as other lenders; you’ll pay your loan off over three or five years. You have the option to change your monthly payment due date and prepay your loan in part or in whole at any time, with penalty fee.

LendingTree

Largest Selection of Lenders

4.8 _/5

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Why we like LendingTree’s large selection of personal loan lenders

LendingTree is a free online loan marketplace that connects you with a network of more than 300 personal loan lenders, more than any other platform on our list. It’s ideal for borrowers who want to maximize their chances of prequalification or explore a wide range of offers side by side.

After completing a short form, you’ll see personalized loan options with no effect on your credit. Most LendingTree lenders offer fixed-rate personal loans with repayment terms from one to seven years and fast funding. However, since you’ll work directly with the chosen lender, rates, fees, and eligibility rules vary by provider.

• Compare prequalified offers from 300+ lenders
• Soft credit check to view rates

Rates (APR)	6.99% – 35.99%
Loan amounts	$1,000 – $50,000
Repayment terms	1 – 7 years

Eligibility requirements

• Soft credit check? Yes
• Minimum credit score: Not disclosed
• Minimum income: Not disclosed
• States: Loan partners may not be available in all states

Repayment terms

LendingTree loans have repayment terms ranging from one to seven years. Some lenders may charge a prepayment penalty if you pay off your loan early.

Upgrade

Best for Fair Credit

4.6 _/5

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Why Upgrade is the best personal loan for fair credit

Upgrade offers fair interest rates to people with fair credit who need a personal loan. You get the benefit of flexibility since you can choose your monthly payment and loan term, and Upgrade offers multiple rate discounts to help you save on interest.

• Choose your monthly payment and loan term
• Joint applications accepted
• Loan funds may be available in as little as 1 day

• Smaller loan maximum limit
• 1.85% to 9.99% origination fee

Rates (APR)	8.49% – 35.99%
Loan amounts	$1,000 – $50,000
Repayment terms	2 – 7 years

Eligibility requirements

• Soft credit check? Yes
• Minimum credit score: 580
• Minimum income: Not disclosed
• States: All 50 states and Washington, D.C.

Repayment terms

Upgrade loans have repayment terms from two to seven years, and your monthly due date is adjustable to fit your budget. A short-term financial hardship program is available if you’re temporarily unable to manage payments.

Navy Federal Credit Union

Best for Military Families

4.6 _/5

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Why Navy Federal is the best personal loan for military families

Navy Federal Credit Union offers personal loans starting at $250, which may be attractive if you only need a short-term cash infusion. You’ll need to join the credit union to apply. Active-duty and retired military members, as well as their families, are able to join to take advantage of Navy Federal Credit Union’s personal loan benefits.

• Maximum loan rate is capped at 18%
• Borrow as little as $250 or as much as $50,000
• Autopay discount of 0.25% for eligible borrowers

• Must join to apply and the field of membership is limited
• Not available in every state

Rates (APR)	8.99% – 18.00%
Loan amounts	$250 – $50,000
Repayment terms	Personal expense loan up to 5 years; Home improvement loan up to 15 years

Eligibility requirements

• Soft credit check? Yes
• Minimum credit score: Not disclosed
• Minimum income: Not disclosed
• States: All 50 states and Washington, D.C.

Repayment terms

Navy Federal Credit Union personal loans have different repayment terms, depending on how you use them. If you get a personal loan for anything other than home improvement, your loan term is capped at five years. You can take up to 15 years to repay what you borrow if you use the funds for home improvements.

Prosper

Best P2P Lender

4.6 _/5

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Why Prosper is the best peer-to-peer lender

As a peer-to-peer lender, Prosper connects borrowers directly with individual investors rather than traditional banks to fund loans. It’s one of the best personal loan options for borrowers with less-than-perfect credit. A 560 credit score could be enough to get approved, and loan rates are competitive. However, Prosper doesn’t offer same-day funding, so you could wait a little longer to get access to funds once approved than with several other lenders.

• Lower minimum credit score requirement compared to other lenders
• No prepayment penalties
• Choose your repayment term

• No same-day funding
• 1.00% – 7.99% origination fee

Rates (APR)	8.99% – 35.99%
Loan amounts	$2,000 – $50,000
Repayment terms	2 – 5 years

Eligibility requirements

• Soft credit check? Yes
• Minimum credit score: 560
• Minimum income: Not disclosed
• States: Not available in Iowa and West Virginia

Repayment terms

Prosper loans have repayment terms ranging from two to five years, with no prepayment penalty if you decide to pay your loan off early. It doesn’t offer rate discounts for autopay, though you may choose automatic payments to ensure you don’t miss a due date.

SoFi

Best for Good Credit

4.5 _/5

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Why SoFi is the best personal loan for good credit

SoFi is an excellent choice for borrowers with good credit who are looking for fast funding and minimal fees. You can use SoFi personal loans for debt consolidation, home improvements, or virtually any other large expense.

• No origination fees, late payment fees, or prepayment penalties
• Check rates in as little as 60 seconds
• Some borrowers may qualify for same-day funding

• Higher minimum loan amount
• Autopay discount is lower than what some lenders offer

Fixed rates (APR)	8.99% – 29.99% with all discounts
Loan amounts	$5,000 – $100,000
Repayment terms	2 – 7 years

Eligibility requirements

• Soft credit check? Yes
• Minimum credit score: 660
• Minimum income: Not disclosed
• States: All 50 states and Washington, D.C.

Repayment terms

SoFi personal loans feature terms from two to seven years. If you enroll in autopay, you’ll get a 0.25% rate discount. There’s no penalty if you decide to pay your loan off early.

Happy Money

Best for Credit Card Debt

4.5 _/5

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Why Happy Money is the best personal loan for credit card debt

Happy Money is one of the best personal loans for credit card debt consolidation. If approved, you can send payments to your creditors from the loan proceeds and watch those balances disappear. Happy Money has no late fees, returned payment fees, annual fees, or prepayment penalties.

• Send payments directly to creditors
• Choose your loan repayment term and due date
• Free monthly credit score monitoring

• Origination fee from 1.5% to 5.5%
• Not available for uses other than credit card debt

Rates (APR)	12.45% – 17.99%
Loan amounts	$5,000 – $40,000
Repayment terms	2 – 5 years

Eligibility requirements

• Soft credit check? Yes
• Minimum credit score: 640
• Minimum income: Not disclosed
• States: Loans not offered in Nevada or Massachusetts

Repayment terms

Happy Money lets you choose personal loan terms ranging from two to five years, so you can get a payment that reflects your budget. There are no prepayment penalties, and you won’t be charged a fee if your payment is late. Happy Money doesn’t offer rate discounts at this time.

Best Egg

Best for a Secured Loan

4.5 _/5

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Why Best Egg is the best secured personal loan

Best Egg is one of the best personal loans for either homeowners who need to borrow but don’t want to tap into their equity, or those who own a paid-off vehicle. Best Egg loans are secured by your car or by the items in your home, like cabinetry and fixtures, not the home itself.

Unsecured loans are also available, but secured loans feature the lowest interest rates.

• Rate discount when you use items in your home as collateral
• Funding is available in as little as 24 hours with minimal paperwork
• Use funds for home improvements, repairs, or any other expense

• Origination fee of 0.99% – 8.99%
• Must own a home or paid-off vehicle to qualify

Rates (APR)	7.80% – 35.99%
Loan amounts	$1,000 – $50,000
Repayment terms	3 – 7 years

Is a secured loan right for you?

• Best for: Those who want a secured option without using home equity

• Not ideal for: Anyone unsure they can make every payment on time

Eligibility requirements

• Soft credit check? Yes
• Minimum credit score: Not disclosed; 700 FICO score needed for lowest APR.
• Minimum income: Not disclosed; $100,000+ annual income is ideal
• States: Not available in Iowa, Vermont, West Virginia, Washington, D.C., or U.S. territories

Repayment terms

Best Egg offers extended repayment terms of up to seven years. Since these are secured loans, you can lock in lower rates. You can enroll in automatic payments, but Best Egg doesn’t offer an autopay discount.

LightStream

Best for Excellent Credit

4.4 _/5

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Why LightStream is the best personal loan for excellent credit

LightStream is a solid choice for borrowers with excellent credit who are looking for a longer repayment term. The rate match policy means you get the lowest rate, and loan limits are generous, topping out at $100,000. To check your rates, you’ll need to apply and complete a hard credit pull.

• Rate match guarantee ensures that you get the best rate possible
• Same-day funding may be available
• Take advantage of a longer repayment term if you need lower payments

• No option to prequalify or check rates with a soft credit pull
• Minimum loan amount is $5,000

Rates (APR)	7.49% – 25.49%
Loan amounts	$5,000 – $100,000
Repayment terms	2 – 12 years

Eligibility requirements

• Soft credit check? No
• Minimum credit score: 660
• Minimum income: Not disclosed
• States: All 50 states and Washington, D.C.

Repayment terms

LightStream offers some of the longest repayment terms of any lender, giving you up to 12 years to repay your loan. You can pay your loan off early, without a prepayment penalty and rate discounts can help bring the cost of your loan down.

LendingClub

Best for Joint Loans

4.4 _/5

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Why LendingClub is the best lender for joint personal loans

If you’re looking for a joint personal loan, LendingClub may have what you need. You can apply with a co-borrower or joint application, and the required minimum credit score is just 600. There are no prepayment penalties.

• Simple online application process
• Excellent customer reviews
• Loans can be used to fund a variety of expenses and goals

• Late fees apply if you miss your payment due date
• Origination fee of 2% to 6%

Rates (APR)	7.90% – 35.99%
Loan amounts	$1,000 – $40,000
Repayment terms	2 – 4 years

Eligibility requirements

• Soft credit check? Yes
• Minimum credit score: 600
• Minimum income: Not disclosed
• States: All 50 states and Washington, D.C.

Repayment terms

LendingClub personal loans have repayment terms of two to four years. Rate discounts are not available, but a higher credit score could help you unlock the lowest rate. No prepayment penalties are associated with LendingClub loans.

PenFed Credit Union

Best Credit Union

4.3 _/5

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Why PenFed is the best credit union for personal loans

PenFed is one of the best personal loan lenders if you’re interested in joining a credit union or just need a smaller loan amount. You can get personal loans starting at $600, and anyone is free to join PenFed and apply.

• No origination fees, prepayment penalties, or balance transfer fees
• Low rates for the most creditworthy borrowers
• Membership is open to everyone

• PenFed doesn’t disclose eligibility requirements
• No autopay discount

Rates (APR)	8.99% – 17.99%
Loan amounts	$600 – $50,000
Repayment terms	3, 4, or 5 years

Eligibility requirements

• Soft credit check? Yes
• Minimum credit score: 700
• Minimum income: Not disclosed
• States: All 50 states and Washington, D.C.

Repayment terms

PenFed offers three repayment terms of three, four, or five years, and you can choose the option that best fits your needs when you apply. There are no early pay penalties should you decide to pay off your balance before the end of your term.

How to qualify for a personal loan

Qualifying for a personal loan depends on several factors, including, crucially, your credit score and history.

How to qualify with fair credit (FICO 580 – 669)

If your credit is fair, you can often qualify, but rates and fees vary widely. Your goal is to get multiple offers without stacking hard inquiries, then choose the one with the lowest total cost.

What lenders focus on

• Debt-to-income ratio (DTI) and monthly cash flow
• Recent late payments or collections
• Stable income and employment history
• Loan amount relative to income

How to improve approval odds (fast)

• Start with lenders that offer prequalification (soft credit pull)
• Request a smaller loan amount than your maximum need (you can adjust later)
• Avoid applying with multiple lenders that require a hard pull upfront
• Consider a joint application if your household has strong shared income and credit

Best matches on this list

• Upgrade (fair credit focus)
• LendingTree or Credible (shop offers side by side)

How to qualify with bad credit (below FICO 580)

With bad credit, the best personal loan is often the one that limits fees and avoids predatory terms. You may still qualify, but you’ll usually pay a higher rate.

What to expect

• Higher rate offers and stricter income/DTI checks
• Origination fees are more common
• Lower loan amounts and shorter terms

Best ways to qualify without taking on a bad deal

• Look for lenders that allow prequalification first
• Consider a secured personal loan if you own qualifying collateral
• Use a cosigner or co-borrower if you have someone with strong credit who trusts you
• If you can wait 30 to 60 days, focus on quick credit fixes (pay down cards, bring accounts current, dispute true errors)

Best matches on this list

• Upstart (often works with thin files and lower scores)
• Prosper (lower minimum score than many lenders, but may take longer to fund)
• Best Egg secured loans (secure your loan with a vehicle or the fixtures in your home)

How to qualify with no credit history (thin file)

If you don’t have much credit history, approval depends less on your score and more on your overall borrower profile. Some lenders use alternative data to judge risk.

What can help you qualify

• Consistent income and employment
• A clean bank account history (no frequent overdrafts)
• A co-borrower with established credit

What to do first

• Start with lenders known for thin-credit approvals or alternative underwriting
• Prequalify, then compare offers based on APR + fees (not rate alone)
• If you’re denied, try a joint application or consider a secured loan

Best matches on this list

• Upstart (positioned for thin credit / no credit history)
• LendingTree or Credible (more shots on goal without committing to one lender)

How to get the best personal loan rates

Getting a good personal loan rate comes down to preparation and comparison. Before applying, focus on these high-impact steps.

1. Know your credit profile

Your credit score plays the biggest role in determining your rate, but lenders also review income, debt-to-income ratio (DTI), and recent payment history. If your credit is borderline, even small improvements, such as paying down card balances, can help.

2. Prequalify before you apply

Start with lenders that let you check rates with a soft credit pull. Prequalification gives you a realistic view of your APR range without affecting your credit score and helps you avoid unnecessary hard inquiries.

3. Compare offers, not just interest rates

Always compare APRs, not advertised interest rates. APR includes interest plus fees, such as origination charges, which can alter the true cost of a loan.

4. Match the loan to your credit tier

Borrowers with fair, bad, or no credit history often get better results by choosing lenders that specialize in those profiles, or by considering secured loans or joint applications. (See the qualification sections above for guidance by credit score.)

How to compare personal loans

Once you’ve prequalified with multiple lenders, use these factors to choose the best personal loan for your situation.

APR

APR reflects the total cost of borrowing, including fees. A slightly higher interest rate with lower fees can sometimes cost less overall than a “low-rate” loan with high upfront charges.

Loan amount

Not all lenders will approve the full amount you request. Make sure the approved loan covers your actual need, especially for expenses such as medical bills or home repairs.

Repayment terms

Shorter terms mean higher monthly payments but less interest paid overall. Longer terms reduce monthly payments but increase total borrowing costs. Choose a term that fits your budget without stretching it too thin.

Fees and penalties

Check for:

• Origination fees
• Late payment or returned payment fees
• Prepayment penalties (less common, but still worth confirming)

Funding speed

If timing matters, look for lenders that offer same-day or next-day funding after approval. Online lenders usually fund faster than traditional banks or credit unions.

Personal loans with no credit check: What it usually means (and safer alternatives)

Most reputable personal loan lenders do check credit in some form. When you see “no credit check,” it often means one of these scenarios:

• No hard credit pull upfront (you can prequalify with a soft credit check)
• The lender relies on income/bank data but still assesses risk
• It’s a high-cost lender with terms that can trap borrowers

Safer alternatives to try first

• Use prequalification tools to check rates without a hard inquiry
• Compare offers through marketplaces such as Credible or LendingTree
• Consider a secured loan if it lowers your APR meaningfully
• Ask a trusted person about being a cosigner only if you have a clear repayment plan

Is a personal loan my best option?

Whether a personal loan is your best option depends on your circumstances. A personal loan could make sense if you need to pay for a large expense or consolidate debt and qualify for a reasonable interest rate. 

Personal loans are also ideal if you need money fast; many offer same- or next-day funding.

On the other hand, a personal loan might not be the wisest choice if you get stuck with a high interest rate. It’s worth considering other financing options, which could include: 

• Credit card 
• Home equity loan or line of credit (HELOC)
• Loan from a friend or family member
• Cash from your own savings 

If you have a solid emergency fund and can easily replenish your savings, I’d recommend using your savings rather than a personal loan.
If you have significant equity in your home and are using the funds to make home improvements or repairs, I recommend a home equity or HELOC.
Personal loans can be a good option for short-term cash needs, if you’re confident you can pay them off.

Consider the amount you need, loan rates, and how much of a payment you can comfortably afford when deciding on a repayment term.
For debt consolidation, I suggest comparing the fees for a 0% balance transfer with those for a personal loan. The credit card option works best when you can pay off the debt before the promotional period ends.

The table below breaks down when these options might make more sense than a personal loan:

How to apply for a personal loan online

If you’re looking to get a personal loan, here are the steps to apply: 

1. Check your credit. Start by checking your credit score and reviewing your credit report so you know what you’re working with as you go into the loan process. If you spot errors on your credit report, dispute them to have them removed. 
2. Determine your loan amount. Figure out how much you need to borrow and can afford to pay back. If the lender subtracts an origination fee from your loan proceeds, take that into account when you make your request. 
3. Prequalify with several lenders. Shop around with multiple lenders so you can find a loan with the best rates and terms. Often, you can get prequalified for a personal loan in a matter of minutes.
4. Select your loan offer. Compare features such as APR, fees, and repayment terms to determine which loan offers the lowest borrowing costs. 
5. Submit a full application. Once you choose a loan, you’ll complete an official application with your personal details and required documentation, such as pay stubs or tax returns. At this point, the lender will run a hard inquiry on your credit. Some lenders may approve you within a few hours, but others may take a couple of business days.
6. Get your funds, and start paying your loan back. Your final steps will be to sign your loan agreement and receive your funds. Check when your first payment is due, and consider setting up automatic payments so you don’t miss any bills. While some online lenders can offer same- or next-day funding to your bank account, others may require a few days to get the money. Online lenders are your best bet for faster loan funding.

You could get a personal loan the same day you start researching them, especially if you have all the information you need on hand and go with an online lender. That said, getting approved for a personal loan and having it funded could take a week or more, depending on the lender and your circumstances.

FAQ

How does a personal loan work?

A personal loan is an installment loan you pay monthly over a set period, often between three and seven years. You might get a lump sum as a direct deposit into your account when you borrow a personal loan. Some lenders will also send direct payments to your creditors if you use the loan for debt consolidation. 

Most personal loans are unsecured, so you must meet a lender’s underwriting requirements for credit and income to qualify. However, some lenders also offer secured loans backed with collateral. Secured loans may have more lenient qualification requirements, but you risk losing your assets if you can’t repay them. 

Can I take out a personal loan online?

Yes, you can take out a personal loan online. In fact, you can often find better deals (lower APRs and higher loan amounts) when shopping for online lenders, and the funding process is often faster. 

Plus, you can use online personal loan marketplaces to compare multiple lenders in one spot to ensure you get the best deal.

To take out a personal loan online:

1. Research multiple lenders. This will help you understand their rates, credit score requirements, loan amounts, and processing times.
2. Get prequalified. When you’ve narrowed your list to a few lenders, get prequalified to see customized rates without impacting your credit score. You’ll need to complete a form online with basic info such as your name, Social Security number, and requested loan amount.
3. Apply. Choose a lender and submit a formal application online based on your prequalification offers. Many online lenders approve you within minutes and can fund your bank account within a business day.

Online personal loans offer several pros:

• Fast approval and funding.
• Competitive rates.
• Lower credit score requirements, in some cases.

But they also have some downsides. For instance, there’s no in-person help. If you want that personal touch while you navigate a personal loan, you’re better off choosing a brick-and-mortar lender with a location near you.

How can I know a personal loan lender is reputable? 

To determine whether a lender is legitimate and reputable, turn to customer reviews. You can find reviews on sites like Better Business Bureau and Trustpilot, as well as on Google and the lenders’ social media profiles. This is especially useful when analyzing online personal loan lenders.

Look for positive reviews on third-party websites, as well, and survey friends, family, colleagues, and neighbors to see if they’ve gotten a personal loan, and, if so, whether they had a positive experience. Relying on loved ones in the community is a great way to assess local brick-and-mortar lenders.

What’s the average personal loan rate today?

According to the latest data from the Federal Reserve, the average personal loan rate for a two-year loan is 11.65%, but this varies by credit score.

What can I use a personal loan for?

You can use a personal loan for almost any purpose, as long as it’s legal. Common uses include debt consolidation, home improvements, and medical bills.

Some lenders set certain restrictions on personal loan uses, so check with your lender for any guidelines. For instance, some lenders say you can’t use a personal loan for investing, gambling, a down payment on a home, or postsecondary education expenses. 

How do personal loan rates compare to credit cards?

Personal loan rates may be lower than credit card rates, so some consumers take out a personal loan to consolidate credit card debt. However, your personal rate depends on your credit profile and other factors. 

Borrowers with excellent credit may qualify for the lowest rates, but borrowers with bad credit might end up with rates as high as 36%.

According to Yahoo Finance data, the current average credit card rate is 19.62%. It’s also important to note that personal loans are often fixed interest, while credit cards are a form of revolving credit, typically with variable interest rates.

How many personal loans can you have at a time?

There’s no limit to the number of personal loans you can have at one time as long as your lender approves it. Owing significant debt, however, may make it difficult to meet a lender’s underwriting requirements for a debt-to-income ratio. 

Can you refinance a personal loan?

Depending on the lender’s guidelines, you may qualify to refinance your personal loan with another personal loan. If your credit has improved since you borrowed the original loan, you might qualify for a new loan with a better rate. Then you can use your new loan to pay off your old one. 

How does a personal loan affect my credit score?

A personal loan can affect your credit score for better or worse, depending on how you pay it back. If you make on-time payments, a personal loan can increase your credit score, and late payments will drag it down.

When you borrow your personal loan, you may also see your credit score fall by a few points after your lender runs a hard credit inquiry. However, your credit score should bounce back within a few months if you pay your bills on time.

How we selected the best personal loans

Since 2017, LendEDU has evaluated personal loan companies to help readers find the best personal loans. Our latest analysis reviewed 1,029 data points from 49 lenders and financial institutions, with 21 data points collected from each. This information is gathered from company websites, online applications, public disclosures, customer reviews, and direct communication with company representatives.

These data points are organized into broader categories, which our editorial team weights and scores based on their relative importance to readers. These star ratings help us determine which companies are best for different situations. We don’t believe two companies can be the best for the same purpose, so we only show each best-for designation once.

Higher star ratings are ultimately awarded to companies that create an excellent borrower experience with affordable financing solutions. This includes offering online eligibility checks, cost transparency, little to no fees, and other unique benefits to support borrowers in repayment.

Recap of the best personal loans