Bad Credit Loans

Loans for people with bad credit

Refused Credit Loans

  • Compare loans from over 40 providers

  • Doesn't harm your credit score

  • See your chance of being accepted

Find a loan Retrieve quotes

Your top results


Smart loan search


{{item.loanEnquiryAmount | handleCurrencyFilter}}

over {{item.loanEnquiryTerm | msmMonthToYearFilter}}


{{item.bestProductApr}}% APR

{{item.bestProductRateQualifier}} ({{item.bestProductRateType}})


{{item.bestProductMonthlyRepayment | number:2 | handleCurrencyFilter}}

per month


Smart loan search


{{item.loanEnquiryAmount | handleCurrencyFilter}}


{{item.loanEnquiryTerm | msmMonthToYearFilter}}


{{item.bestProductApr}}% APR

{{item.bestProductRateQualifier}} ({{item.bestProductRateType}})


{{item.bestProductMonthlyRepayment | number:2 | handleCurrencyFilter}}

per month

Loan rates are based on your circumstances and change regularly


48.5% APR Representative



We compare loans that can be paid back over terms of between 1 and 25 years. The APR interest rate you’ll be charged depends on your personal circumstances, and will be between 3.2% and 99.9%

This is a representative example of what it may cost: a Loan of £7,500 over 60 months at 3.3% APR would equate to monthly repayments of £135.60, and the total cost of the loan that you pay back would be £8,136.22.

Why can't I get approved for a loan?

To be accepted as a personal loan customer, you must normally be at least 18 and have a regular income.

You must also convince the lender you can and will pay it back.

A low income or existing debts will therefore work against you. A lower credit score, perhaps because you have missed payments in the past, can also make it harder to find a loan.

What happens if I get refused a loan?

Being refused when applying for a loan does not necessarily mean you cannot get credit of any kind.

However, rejected loan applications will appear on your credit report, so it is sensible to check which lenders are likely to accept you as a customer before applying.

You can do this – without affecting your credit score – using MoneySuperMarket’s Eligibility Checker tool.

Does being refused a loan affect your credit rating?

If you’ve been refused a loan or credit card in the past then this will appear on your credit report and can affect your credit score.

What should you do if you have been refused a loan?

If you are refused a loan, you should carry out a “soft” search to see what loan companies are likely to approve your application before contacting any other lenders direct.

Otherwise, you risk damaging your credit score with a raft of rejected applications that will appear on your credit report.

Some lenders specialise in loans for people with lower credit scores, although these deals often come with higher interest rates.

Types of loans for bad credit

There are a number of loans available to those with bad credit:

  • Secured loans: let you borrow money against an asset you own, such as your house, as security that a lender will get their money back
  • Guarantor loans: require another person to commit to pay your loan repayments if you miss them
  • Peer-to-peer loans: allow you to borrow from individuals instead of a bank

What are secured loans?

Having a high value item like a house as security means the lender can get its money back even if you fail to meet the monthly repayments.

A secured loan can be a good way to borrow money if you have a low credit score or have been refused credit in the past.

If you take out a secured loan, failure to meet the repayment schedule could result in you losing your collateral – which could mean your home.

What are guarantor loans?

People with low credit scores can sometimes take out unsecured loans if a friend or family member with a good credit score agrees to be a guarantor. This means they will be liable to pay it back if the borrower does not.

Guarantor loans offer a way to borrow money without needing to use your house or another high-value item as security.

If you can’t meet your monthly loan repayments, your guarantor will be expected to pay the loan back. This will, at the very least, upset them.

What are peer-to-peer loans?

A peer-to-peer loan is borrowed from an individual lender rather than through a bank or building society.

You can find lenders on a peer-to-peer lending website, where you’ll be matched with individuals who are prepared to lend you money at a certain rate of interest.

You might find that you can borrow more money than a bank or building society will offer you, while interest rates offered on peer-to-peer loans can be lower than on standard loans

You still need to pass credit checks to qualify for a peer-to-peer loan, however.

The pros of bad credit loans

  • Access to funds: If you’ve got a bad credit score and you’ve been refused credit in the past, a bad credit loan may be the only way for you to borrow money
  • A better credit score: A bad credit loan can help to rebuild your credit score and credit history if you meet your monthly repayments
  • Spending flexibility: Your loan will usually be paid into your account within days of your application being approved and can be used for any purpose you like
  • Fixed repayments: You can choose how long you need to pay back the loan, and will always know how much you have to pay each month

The cons of bad credit loans

  • High interest rates: You will not qualify for the cheapest loans
  • Car or home repossession: If you aren’t able to keep up your repayments on a secured loan then your car or home could be repossessed
  • Financial strain: You must be sure you can afford the monthly repayments on a bad credit loan. Otherwise, you will face hefty penalties and will find it even more difficult to borrow money in the future

What are the alternatives to taking out a loan?

A loan for bad credit is a serious undertaking, and there are other borrowing options available. These include:


If you’re looking to borrow a smaller amount of money for the short term then you can apply for an overdraft on your current account.

Charges can be high, but some banks will allow you to go slightly overdrawn for free.

The interest you’re charged on an overdraft can be lower than on a standard loan, but a loan would be a better option if you’re looking to borrow for a longer term.

Bad credit loan versus credit card

A bad credit credit card is designed for borrowers who have a lower credit score. The amount you can borrow may be lower than with a loan, but some lenders may increase your spending limit if you do meet your monthly repayments.

However, as with bad credit loans, ‘bad credit’ credit cards tend to have higher interest rates.

Payday loans

payday loan is designed to give you quick access to a cash lump sum. They can be used for borrowing smaller amounts than bad credit loans over a shorter period of time.

However, payday loans often come with incredibly high interest rates – meaning you pay back much more than you borrowed – and if you miss payment deadlines you will also face high fees.

Compare bad credit loans

Our loans search tool is designed to help you find the best bad credit loan for you.

It uses information about your income and requirements to find personal loan quotes for the amount, term and interest rate you’re likely to be able to afford. If you’re a homeowner, it can also show you secured loan deals.

Remember: the loan rates you see will only include loans you’re likely to be offered and will be based on a “soft” or simple check that does not show on your credit report.

The loan amount, rate and duration you are offered by a provider may differ because they are based on a more detailed investigation of your credit history and financial situation.

MoneySuperMarket is a credit broker – this means we’ll show you products offered by lenders. We never take a fee from customers for this broking service. Instead we are usually paid a fee by the lenders – though the size of that payment doesn’t affect how we show products to customers.