Can You Get a Personal Loan with No Credit?

Having no credit can make it more difficult to get approved for a personal loan. Interest rates may be higher and available loans may have unfavorable conditions. However, it is possible to get a loan without a credit rating. LendingPoint specializes in working with borrowers with credit scores close to preferred and can also work with borrowers who don't have a credit history.

OneMain Financial offers secured and unsecured personal loans, and Upstart uses machine learning to “set the price of credit” for those without a credit score. Other options include payday loans, pawnshop loans, and mortgage moratoriums. To get a no-credit loan, compare loan offers to identify the least expensive option that will accept applicants with limited or no credit history. Universal Credit offers free access to credit rating monitoring, educational tools, and personalized recommendations that could help you build your credit.

Be aware of abusive lenders and make sure to provide proof of income, identity verification, proof of address, and more when applying for a loan.