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Representative 23.9% APR
MoneySuperMarket is a credit broker not a lender. You must be 18 or over and a UK resident. Representative 23.3% APR.
You can expect higher APRs on your loan when you have a bad credit score, so we have set the interest rate on the calculator to 23.9% to reflect this. The actual APR that you are offered will depend on your financial circumstances.
Find out what monthly repayments would be, how much you'll pay overall and how much you could borrow.
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Total amount
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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.
Total amount
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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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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.
Yes, you can get a loan if you have a bad credit score. There are specialist lenders who specialise in borrowing money to people with your credit history. Having a low credit score does mean you can’t get a loan; however, your options will be more limited than someone with a good credit rating.
That’s where MoneySuperMarket comes in. We work with providers from across the market, performing what’s known as a ‘soft search’ to see which loans you might be eligible for, in a way that won’t hurt your credit score.
Representative 23.3% APR
If you have poor credit, you may find it harder to be approved for a loan. Bad credit loans are made for people with your credit history, and it’ll be easier to be accepted for borrowing.
Pick and apply for your loan:
You decide how much money you need to borrow and for how long. The lender will run a credit check and decide whether to accept you for credit.
Receive the funds:
After being approved you can expect the cash to enter your account in a few days.
Paying the loan back:
You’ll usually have to pay your loan back in monthly repayments. You’ll have to pay back the loan amount borrowed plus the agreed interest.
Having a bad credit score can make it harder to borrow but it doesn’t mean you’ll be unable to. We have a range of’ loans for bad credit’ guides to help you understand your options.
Having a low credit score doesn't mean you can’t get a loan; however, your options will be more limited than someone with a good credit rating. Depending on your circumstances you might be eligible for:
Personal loans, also known as unsecured loans, allow you to borrow a fixed amount, repayable in instalments with interest. While it's possible to get a personal loan with bad credit, your options are limited and may require a specialist lender, often with higher interest rates.
Secured loans are similar to personal loans, but they require you to offer an asset like your home or car as security. This can increase your chances of approval and may lead to more favourable terms, even with a poor credit history. However, defaulting on repayments puts your asset at risk of repossession.
Guarantor loans involve a family member or friend who agrees to cover the debt if you can't. This might enable you to borrow higher sums, but they typically come with high interest rates. Additionally, if you fail to make payments, it could damage your guarantor's credit score and your relationship.
Our table shows how the different credit agencies define very poor, poor and fair credit scores.
Credit Agency | Very Poor | Poor | Fair |
|---|---|---|---|
TransUnion | 0-550 | 551-565 | 566-603 |
Equifax | 0-300 | 300-579 | 580-669 |
Experian | 0-560 | 561-720 | 721-880 |
Take steps to make your loan application successful - even with no, low, or bad credit.
Applying directly with lenders will show up on your credit file, and too many 'searches' in a short time frame is a red flag for lenders.
Instead, use an eligibility tool (like ours) to provide some basic information and find out which loans you have a higher likelihood of being accepted for (including preapproved).
Check your credit file and correct any errors that might artificially lower your credit score.
Also, double check you're registered on the electoral roll - the average credit score for people on the electoral roll is 581, whereas for people not registered their average score is 540, so it makes a big difference.
Think carefully before taking on debt, as a low credit score indicates difficulty managing your finances.
Only borrow what you can afford to repay - use a calculator to work out how much you need and what that might cost per month during the repayment term.
If you're consolidating debt, pool what you owe and only borrow enough to cover that amount.
If lenders won't provide unsecured access to lending, then some providers may offer secured loans against the value of your home.
You risk losing your home if you can’t keep up with repayments, so think carefully and plan ahead to ensure you can make the monthly repayments.
Guarantors are a form of security against the debt and will need to pay back the loan if you can't.
Lenders will have criteria guarantors need to meet, such as being over 21, possessing a good credit history, and preferably a homeowner.
Think carefully before looking for, or agreeing to be, a guarantor as if difficulties arise, this can put significant strain on the relationship and there are legal ramifications for the guarantor if they default on the loan repayments.
Please note that we don't include guarantor loan providers on our panel.
Before applying, get all your information together, including but not limited to:
Your current and previous addresses from the last five years
Your monthly income and outgoings (including firm spending commitments) and a realistic idea of whether that will change in the next 12 months
Your banking information
Disclosures of any CCJs or bankruptcy
If your credit score isn’t in the best shape, the good news is there’s always room for improvement. Here are some tips on how to improve your credit score:
Registering on the electoral roll is a something simple you can do to boost your credit rating. This improves your credit score as it confirms your address for lenders.
By paying your bills on time and in full, you’re showing lenders that you’re a responsible borrower. If you’re seen as a safe pair of hands, it’ll be easier to get approved for credit in the future and your score will improve also.
It’s best to space out loan applications, because every time you apply for credit it leaves a mark on your credit file. Too many credit applications can bring your credit score down.
Try not to use more than 50% of your credit limit. By not maxing out your credit limit, it shows that you’re borrowing responsibly.
Taking out a loan when you have bad credit does come with downsides and benefits. Here’s the rundown:
Gives people with bad credit access to borrowing: It can be harder to be approved for borrowing when you don’t have a good credit score. Loans for bad credit give people with low credit scores the financial lifeline they may urgently need
Fix your credit score: A bad credit loan could give you the opportunity to get your credit score back on track. If you keep up with the payments on your loan, you can prove to lenders you are trustworthy and in time, your score will shoot up
Get money quickly: If you’re in need of cash quickly, then a bad credit loan can be a massive help. Most lenders will get the money over to you in a few days
High interest rates: Bad credit loans will come with higher rates of interest than standard credit loans. This is because bad credit borrowers are seen as higher risk, so a higher interest rate offsets the risk for the lender
Damage your credit score: If your credit score is already low, you run the risk of harming your credit rating further if you don’t keep up with loan repayments. An even worse credit score will make it very difficult to borrow in the future
Deepen your debt: If you’re using the loan to pay off another debt, you could potentially find your circumstances worse if you struggle to keep up with the loan repayments. If you know you’ll be unable to afford the repayments, then think carefully before borrowing
The Bank of England's base rate is currently at 4.5%, which is still high compared to recent years, despite the rate cut in February 2025. This has marked consequences for borrowers that you should be aware of, including:
Loans become more expensive: As the base rate rises, so does the cost of borrowing. This means that any new loans you take out will likely have higher interest charges, making them more expensive over time.
Bad credit loans have higher APRs anyway: If you're considering a bad credit loan, remember that these typically come with higher APRs than standard loans. With the current high base rate, these loans could become even more costly, making it crucial to evaluate if this is a financially viable option for you.
You need ensure you can afford repayments: It's more important than ever to ensure that you can manage the repayments on any loan you're considering. You can use our loans calculator to get an idea of how much a loan could end up costing you
Depending on your goals, there are situations where a card might be better
For smaller credit limits, a credit card for bad credit might be easier to get approved for and give you
A bad credit loan can allow you to get access to funds even with a poor credit score, and if you prefer a structured repayment plan, making fixed monthly payments can make it easier to budget and manage your finances.
However, it should be noted that with a bad credit credit card or a loan, you are likely to have more limited access to credit and will be subject to a higher APR.
You’re not alone. According to our charity partner CALM (Campaign Against Living Miserably), eight out of ten people have experienced money worries in the last 12 months. What’s more, a quarter of a million people worry about money at least once a day.
The good news is that help is at hand. CALM is there to assist you, with practical advice to help you get your debts under control, as well as practical tips on how to talk to people closest to you about your financial situation.
If your finances are affecting your mental health or you really can’t see a way forward, CALM offers a telephone helpline too. It’s open from 5pm-midnight every day, completely confidential and free to call.
If obtaining a bad credit loan doesn’t feel right, here are some alternatives to consider:
• Budgeting and debt advice: A debt advisor can help create a suitable budget and debt repayment plan and may negotiate with lenders and creditors. Resources such as Citizens Advice and Stepchange can offer assistance if you're struggling with finances.
• Borrowing from friends or family: This avoids interest, but can strain relationships if you struggle with repayments.
• Credit cards: It might be easier to get a credit card than a loan, but you still need to make monthly payments. A credit buildier credit card are designed to help improve your credit score, and this should start to happen provided repayments are made on time and you stay within your credit limit. Interest rates on credit builder cards can be very high, so be sure to pay off the balance in full each month to avoid paying interest.
Your credit score can change. If you keep up with your loan repayments, then over time your credit rating will improve. A better credit score will unlock better terms when you apply for credit. Keep up with your credit score with our Credit Score tool, we’ll also send you helpful tips and tricks to improve your score
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Many of us aren’t familiar with our own credit files and yours might not be what you think it is – for good or bad!
If it’s better than expected, cheaper, mainstream options may be open to you. But if it’s worse, piling up more debt may not be the answer and a debt charity like StepChange may be a better place to get help sorting out your finances before going looking for more credit.
Kate Hughes Money & Savings Expert
MoneySuperMarket has won the Feefo Platinum Trusted Service Award, an independent seal of excellence, which recognises businesses that consistently deliver a world-class customer experience.
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Any loan that doesn’t require the borrower to have a ‘guarantor’ is a no-guarantor loan. So this would apply to unsecured personal loans and secured loans, for example. If you have a bad credit history and a low credit score it can be difficult to be accepted for a personal loan. There are specialist bad credit lenders. But if you are accepted for a loan, you’re likely to only be able to borrow a small sum and the interest rate will be high.
If you’re a homeowner you might be able to borrow a secured loan. But remember your home will be at risk of repossession by the lender if you can’t keep up with your repayments.
You can apply for a loan with no guarantor even if you have bad credit, but if you’re rejected for the loan this could further damage your credit score. When you search for a loan with MoneySuperMarket we’ll show you your chances of being accepted for different loan deals before you apply – so you’ll know where you stand.
Yes, your credit score will improve if you pay your loan back on time. By keeping up with your loan agreement, you’re showing lenders you are a responsible borrower and in turn, your credit rating will rise.
You can get instant approval on a bad credit loan, however it’s important to remember that a reputable lender will carry out a credit check.
If you don’t repay your loan, you face being charged extra fees as well as interest on top of missed repayments. Being unable to pay back your loan will damage your credit score even further and make future borrowing extremely difficult. The lender can also issue you with a county court judgment (CCJ).
No reputable lender will offer you a loan without a credit check. The Financial Conduct Authority requires all lenders to carry out a credit check on loan applicants.
