What credit score do you need for a personal loan in 2026 by lender type?

Check your score range, compare lender thresholds, verify credit reports, and gather required documents before applying.

Checked against our editorial standards · Last updated 12/11/2026

Short answer

You generally need credit scores of 580 or higher to qualify for a personal loan, and scores in the 700s to qualify with favorable terms.

You generally need credit scores of 580 or higher to qualify for a personal loan, and scores in the 700s to qualify with favorable terms (experian.com).

Minimum scores most lenders require

Most lenders look for a credit score between about 580 and 660 or higher, depending on the lender and loan type (achieve.com).

Most lenders require a minimum credit score between 580 and 670 to approve a personal loan application (financer.com).

Ask each lender you’re considering to confirm their exact minimum credit‑score requirement.
Write down the score you need for each lender type (online marketplace, bank, credit union).

Review Personal Loans by Credit Score 2026: Find Your Fit while preparing questions for the lender.

Scores that unlock better rates

While there is no universally required credit score, a minimum of 610 is generally required to qualify for a personal loan, and some lenders may approve borrowers with scores as low as 580 (sofi.com).

Typical minimum credit scores are 580 for fair‑credit loans and 670 for the best rates (moneylion.com).

A FICO score of 580 or higher can qualify borrowers for some personal loans, while scores in the 700s generally grant more favorable terms (legalunitedstates.com).

Review the financing guide while preparing questions for the lender.

How your credit score translates to loan cost

The average personal loan interest rate is 12.36% for customers with a 700 FICO score, a $5,000 loan amount, and a three‑year repayment term (bankrate.com).

For borrowers with excellent credit (score 720‑850) the estimated APR is 15.26%, while good credit (690‑719) sees an APR of 19.64% (nerdwallet.com).

Pre‑qualified rates for borrowers with credit scores of 720 or higher on three‑year personal loans were around 15.30% APR as of early November 2026 (credible.com).

Ask the lender for a personalized quote based on your current FICO score.

Verifying your credit report before you apply

Borrowers with FICO scores around 580 or higher may find personal‑loan options, while scores of 670 or above can provide access to a broader range of lenders and potentially better terms (usahousinginformation.com).

Most lenders want a FICO score of at least 580 for a personal loan (fedlaws.org).

The average rate on a 24‑month personal loan at U.S. commercial banks was 11.90% in August 2026, but the rate depends on the borrower's credit and income (foxbusinessmarkets.com).

Check for errors or outdated accounts that could be dragging your score down.

Disclosures

This content is for educational purposes only and is not financial advice. mycredpal.com may receive compensation from partner lenders, which may influence which products are featured.

Sources

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