Personal or unsecured loan
You don’t need to put down security, such as your home, to be accepted, but you may not be offered the lowest interest rates and you could be restricted in how much you can borrow
Fair credit loans
Compare loan deals for fair credit
MoneySuperMarket is a credit broker not a lender. You must be 18 or over and a UK resident. Representative 29.9% APR.
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We do the heavy lifting, so you don't have to. We work with leading providers to help you borrow the money you need.
What is a fair credit score?
A credit score is a measure of how you are managing your finances, particularly when it comes to borrowing, and a ‘fair’ credit score is about average on this scale. This means it's higher than 'bad' but lower than 'good'.
Your score will vary numerically across the three main credit reference agencies; Experian, TransUnion and Equifax.
MoneySuperMarket uses TransUnion through our free credit monitor service. TransUnion rates your credit score out of 710, with a ‘fair’ score being 566 to 603.
How do fair credit loans work?
Check your credit score: Before you apply to see what your score is and determine whether you'll qualify for a loan
Compare loans and apply: Use our pre-approval checker to see how much you'll be able to borrow and what it will cost without hurting your score
Receive your funds: If you've been approved for a loan, the money is deposited into your account, typically within 1-5 days
Repay the loan: Repay your loan plus any interest in monthly instalments until the term is finished
What loans can I get with fair credit?
With a ‘fair’ credit score there will still be loan options available to you. Such as:
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Secured loan
You might be offered slightly better rates, but you’ll have to tie the loan to your property. It means if you fail to repay what you owe the lender could take your home.
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Guarantor loan
Typically used by borrowers with poor credit. A family member or friend must agree to be the legal guarantor and is legally bound to cover the debt if you default
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Car Loans
Gives you funds to buy a new set of wheels immediately rather than saving up. You first agree to a loan term, which sees you paying off the loan over a set period at a fixed rate
Use our handy loans calculator
Loan calculator
Find out what monthly repayments would be, how much you'll pay overall and how much you could borrow.
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Based on the information you supplied, you would be borrowing XXX and repaying the loan in XXX monthly instalments of . The total sum to repay, subject to XXX% APR over the full loan term would be XXX. This assumes there are no extra fees and that your payments are made on time and in full.
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Based on the information you supplied, you could borrow XXX at a monthly repayment rate of to be paid over XXX monthly instalments. Over the full loan term at XXX% APR, the total amount repayable would be XXX. This assumes there are no extra fees and that your payments are made on time and in full.
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The maximum personal loan is £50,000
If you need a larger amount, consider a secured loan, which will allow you to borrow more but uses your home as collateral. Be aware that lenders can sell your house if you fail to keep up with repayments.
What can I use a fair credit loan for?
There are several things you can use a fair credit loan for. These include:
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Car repairs
Cover the cost of unexpected maintenance or MOTs
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Debt consolidation
Combine existing debts into one monthly payment
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Home improvements
Pay for upgrades like new flooring or appliances
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Weddings or events
Help manage the cost of a special occasion
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Emergency expenses
Cover urgent bills like medical or vet costs
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Holidays
Spread the cost of travel or a family break
How to get the best loan offers
Steps you can take to find a suitable loan for you include:
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Shop around
Compare loans with us and we’ll search a wide range of UK providers and check your eligibility– this means more choice and helps you find the best deal to suit you.
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Check your credit score
If you have a fair credit score check it regularly and aim to improve your score where possible. Spotting and fixing errors on your file could also help your loan application.
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Borrowing more might offer cheaper rates
While you should only ever borrow what you need, you could be offered a cheaper rate on a bigger loan. Ensure your loan amount meets your requirements.
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Check the loan terms
Work out what penalties apply if you miss any monthly payments, pay late, or want to pay off the entire loan early. Check the T&Cs suit your personal circumstances
What should I consider before taking out a fair credit loan?
There are several factors to consider before taking out a fair credit loan, including:
Do I really need to borrow?
Only borrow if it’s essential and you’ve explored other options. Loans always cost more than you borrow, so make sure it’s worth it.
Is there a better option than a loan?
Depending on your needs, a 0% credit card or briefly dipping into an overdraft could be cheaper. Always weigh up alternatives before committing to a loan.
Is my credit rating the best it can be?
Your credit score affects your chances of approval and the rate you’ll pay. Try to improve it before applying – even small changes can make a difference.
Can I afford the repayments?
Make sure the monthly payments fit comfortably within your budget. Missing repayments could hurt your credit score and lead to extra charges.
Have I checked the fees?
Look out for hidden costs like arrangement fees, late charges or early repayment penalties. These can push up the overall cost of borrowing.
Have I compared all my options?
Compare offers to find the best rate and terms for your situation. Using a comparison website such as MoneySuperMarket allows you to view loan deals and see your chances of approval without impacting your credit score.
What are the pros and cons of fair credit loans?
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Pros
Personal loans can be a cost-effective way to borrow compared with other forms of credit, such as credit cards
Can be a good way to access money quickly to plug a gap or pay for an emergency expense
As long as you make your payments on time and in full, a loan can help boost your credit score
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Cons
Because your credit score is ‘fair’, you may be offered less favourable borrowing terms than if your score was 'excellent'
Borrowing rather than saving up means you’ll pay interest – so it will cost you more overall
If you miss a repayment it will negatively affect your credit rating
How much can I borrow with a fair credit score?
If you have a fair credit score, you may be eligible to borrow between £1,000 and £25,000, depending on your income and financial circumstances.
While you might not qualify for the lowest interest rates, many lenders still offer a range of options for fair credit borrowers.
How long will it take for me to be approved?
Online approval can often be quick. Some lenders offer instant decisions and in many cases, you’ll know whether you have been accepted within minutes.
The money could be in your account the same day or within 24 hours, depending on the lender and time of application.
What is the repayment period?
The repayment period for a fair credit loan can vary depending on the lender and how much you borrow.
It typically ranges from 12 months to 5 years, but some providers may offer shorter or longer terms to suit your needs and budget.
Will base rate cuts make loans cheaper?
As of December 2025, the Bank of England’s base rate is 4%, following a 0.25% cut on 7th August. This brought the base rate to its lowest level since March 2023
The base rate affects how much banks pay to borrow, which influences loan interest rates. When the base rate drops, lenders often lower their APRs, making loans cheaper.
However, lenders don’t all adjust rates at the same speed. Some pass on savings quickly, others take longer or make smaller changes.
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Am I eligible?
You’re generally eligible for a fair credit loan if you’re aged 18 or over, a UK resident, and have a regular income.
Lenders will also check your credit history and affordability before approving your application. Meeting these criteria doesn’t guarantee approval, as each lender has its own requirements.
Is a fair credit loan right for me?
A fair credit loan could be right if you need to borrow but don’t have a perfect credit score, as lenders offer options tailored to your situation.
However, interest rates may be higher, and you should ensure you can afford the repayments to avoid financial strain.
With a pre-approved loan, the deal you see is the deal you get
When you apply for a loan, it’s not always clear what deal you’ll be offered or whether you’ll be accepted. But when you’re pre-approved for a loan, you know the deal you see is the deal you’ll get – you’ll know where you stand, with information that will help you make the right choice.
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Apply with confidence
When you’re pre-approved, the loan amount, duration and interest rate are all confirmed
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Tailored to you
When you know what you’ll be able to borrow and how much it will cost, you can choose a loan that’s right for you
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You’re in safe hands
This helps protect your credit score as you're less likely to be rejected when you apply
How can I improve my credit score?
If you’d like to boost your credit score, there are a range of ways to do so. Here are some things you can do:
Register on the electoral roll
Make your bill payments on time
Close all your unused credit card accounts
Check your credit report for any errors, as mistakes could be lowering your score
Keep your credit utilisation low by not maxing out your credit cards
Avoid applying for multiple new credit accounts in a short period, as this can lower your score
Will a fair credit loan impact my credit score?
Yes, applying for a fair credit loan will usually involve a credit check, which can have a small, temporary impact on your credit score.
Making your repayments on time can help improve your credit rating over time, while missed or late payments can damage it.
It’s important to borrow only what you can afford and keep up with repayments to maintain and improve your credit score.
Compare fair credit loans with MoneySuperMarket
Search with us and see which deals you’ll be guaranteed to get.
Our expert says…
Your credit score is used whenever you apply for credit, be it a loan, a credit card, or even a mortgage. That’s why it’s important to keep it in the best shape possible.
Even if your credit rating isn’t ‘excellent’, you still have options, but interest rates can be much higher for applicants with lower credit scores – making borrowing more expensive.
Kara Gammell Personal Finance & Insurance Expert
What are the alternatives to fair credit loans?
If you’re not convinced a fair credit loan is right for you, here are some other options:
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Credit cards
Credit cards can be useful for smaller purchases and often offer interest-free periods. However, if you don’t pay off the balance in full each month, high interest rates can quickly increase your debt.
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Overdrafts
Arranged overdrafts on current accounts typically allow you to borrow up to a certain amount or for a set period of time and not pay any interest. However, whether your bank will allow this will depend on your personal circumstances.
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Guarantor loans
A guarantor loan can be an alternative if you’re struggling to get a credit card. With someone you trust backing your repayments, you may be able to borrow more or at a lower rate than you’d get on your own.
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Credit union loans
Credit union loans often offer fair rates and flexible terms, especially for local community members
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Buy Now, Pay Later (BNPL)
Let you borrow with poor credit, but someone else must agree to repay if you can’t
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What is the easiest loan to get approved for?
The easiest loans to get approved for tend to be the ones offering lower amounts and those with higher interest rates. This is simply because it means the lender is taking on less risk. You may also find it easier to get a secured loan or a guarantor loan than a personal unsecured loan.
Rather than applying for the easiest loan to get – which may turn out to be more expensive – you should be aiming for the best deal for you. MoneySuperMarket can help by searching the market to show you a range of deals, the overall cost of each loan and your chances of being approved. Searching in this way doesn’t affect your credit score.
Can I get a car loan with fair credit?
Yes, you can get a car loan with fair credit. There are different types of car finance, such as hire purchase (HP) and personal contract purchase (PCP), but a personal loan can be spent on whatever you choose – including a car. The lender will just want to be confident that you have the means to keep up with repayments.
What is APR?
APR stands for annual percentage rate. Your APR is calculated by taking into account the interest rate on a loan and any other charges such as an annual fee or arrangement fee.
Can I pay a fair credit loan back early?
Yes, you can usually repay a fair credit loan early, but it’s important to check the terms first. Some lenders charge an early repayment fee, which could reduce or cancel out the interest savings from settling your loan ahead of schedule.
Always read the fine print or ask your lender directly to understand any costs involved.
Do I need a guarantor for a fair credit loan?
No, you typically don’t need a guarantor for a fair credit loan. If your credit score is classed as fair, many lenders will consider you for a loan based on your own financial situation.
However, if you're struggling to get approved or want access to better rates, applying with a guarantor could increase your chances.
Do fair credit loans require a credit check?
Yes, fair credit loans usually require a credit check. Lenders use this to assess your credit history and determine how likely you are to repay the loan. A credit check helps them decide whether to approve your application and what interest rate to offer.
What happens if I miss a payment on a fair credit loan?
Missing a loan payment can negatively impact your credit score and may result in additional fees or interest charges. If you think you might miss a payment, contact your lender as soon as possible – they may be able to offer support or a revised payment plan.
Will taking out a fair credit loan help improve my credit score?
It can, as long as you make all your repayments on time and in full. A consistent repayment history shows lenders you're reliable, which can gradually strengthen your credit profile.
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Lenders
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Reviewed on 10 Dec 2025 by
