Review (2020)

Updated: June 29, 2020 reviews

When you have bad credit, it can be quite difficult to qualify for a personal loan. is an online loan marketplace that allows borrowers to receive a loan offer from a variety of lenders willing to work with people with less than perfect credit scores. 

BadCreditLoans Snapshot

BadCreditLoans is a loan marketplace. Unlike a direct lender, it doesn't actually give out loans. 

Instead, the site acts as something of a middleman by connecting borrowers with various lenders. There is no fee to use the service, and no obligation to pursue loan offers.

All the lenders in the BadCreditLoans network are willing to work with people who have bad credit. While this makes it easier to get a loan offer, it also means the loan terms and conditions are more limited. 

For example, you can only borrow between $500 and $10,000, and the repayment terms range from three to 72 months. Interest rates can be as low as 5.99%, but people with poor credit can pay an annual percentage rate (APR) as high as 35.99%.

The bottom line is that BadCreditLoans can be a good option if a low credit score has stopped you from getting a loan. On the other hand, it's always best to shop around for alternatives to see if you can get a better interest rate and more favorable terms. 

Is Legit?

BadCreditLoans is a legitimate company that has been in business since 1998. The company's website includes a statement on responsible lending in which it says it's committed to ensuring consumers have the information they need to make informed decisions about borrowing money. 

How Does Work?

BadCreditLoans allows potential borrowers to fill out a basic online form and get connected with a lender that has a loan offer. Once you have your loan offer in hand, you can review the loan amount, terms and rates to see if it will work for you.

To submit a loan request, you must be a U.S. citizen and at least 18 years old. You must also have a valid mailing address, as well as a telephone number and a checking account.

While there are no minimum income requirements, you must have "regular income" in the form of full-time employment or part-time employment. You can also qualify if you receive benefits like disability or Social Security. 

The lenders in the BadCreditLoans network don't require a minimum credit score to apply. However, a very poor credit score can mean paying high interest rates if you're approved for a loan.  

Loan Types

BadCreditLoans offers a variety of personal loans, and there are no restrictions on how you can use your funds. Some of the loans the site offers include:

  • Personal loans
  • Loans for starting a business
  • Debt consolidation loans
  • Credit card debt loans
  • Student loans
  • Auto loans
  • Mortgage loans 
  • Home improvement loans

While BadCreditLoans offers a wide variety of personal loans, you can only borrow up to $10,000, so keep this in mind when searching for loans. 

Eligibility & Pricing

While loan terms, rates, and conditions are set by the individual lender, there are some basic eligibility requirements for submitting a request for a loan through BadCreditLoans. At a minimum, you should satisfy the following criteria:

  • You're at least 18 years old
  • You're a U.S. citizen and can provide proof of your citizenship
  • You have regular income in the form of employment, disability, or benefits
  • You have a checking account in your own name
  • You can provide proof of a mailing address, telephone number, and email 

Keep in mind that individual lenders may have additional requirements, so you'll need to review each offer to make sure you're eligible. 

Pros & Cons of

Like all lending options, has its pros and cons. It's important to take a look at both before submitting a request for a loan offer.


  • No fee - It costs nothing to submit a request for a loan offer through 
  • Fast turnaround - In most cases, borrowers will know if they received a loan offer in minutes. 
  • No minimum income requirement - BadCreditLoans doesn't have an income threshold. As long as you have some form of "regular income," you can submit a loan request. 
  • No minimum credit score - You don't need a specific credit score to submit a request for a loan offer, and the lenders in the BadCreditLoans network work with people who have low scores. 


  • High interest rates - The lower your credit score, the higher the interest rate you can expect to pay. Interest rates through start at 5.99% and top out at 35.99%.
  • Limited repayment period - The longest repayment period is three years, which is short compared to some lenders.
  • Not a direct lender - BadCreditLoans isn't a direct lender, which means you won't know the exact details of your loan offer until you follow through with a loan request. This can make it hard to get an in-depth idea of your options. 
  • Limited loan amounts - The most you can borrow with a loan is $10,000. If you need to finance a big purchase, you might have to look elsewhere.   

What Can I Use a BadCreditLoan For?

There are no restrictions on how you can use your loan funds when you receive money from a lender in the BadCreditLoans network. Because the loan amount can't exceed $10,000, however, your options are limited if you need financing for a larger purchase.

Who Is BadCreditLoans Best For?

BadCreditLoans is a good option for people who have bad credit and need a personal loan. A loan through BadCreditLoans is also an ideal alternative to pricier options like payday loans or car title loans, which typically come with predatory interest rates that can trap borrowers in a cycle of debt. 

On the other hand, because people with bad credit can expect to pay higher interest rates, it's still a good idea to exhaust all your options before getting a loan for bad credit. If you can't get funding another way, make sure you can truly afford the monthly payments on your loan, as defaulting will cause further damage to your credit score. Reviews

It's tough to find online reviews for BadCreditLoans, which could be due to the fact that the site is a loan marketplace rather than a direct lender. However, there are several comments about BadCreditLoans on the company's Better Business Bureau (BBB) profile page

Several commenters complained about having difficulty getting in touch with customer service when they had a question or wanted more information. Others said they received emails and offers even after they unsubscribed. 

BadCreditLoans has an F rating from the BBB, but this isn't necessarily indicative of the company's business practices. Rather, the BBB states that ratings "represent the BBB's opinion of how the business is likely to interact with its customers."

According to its company profile on the BBB site, BadCreditLoans has failed to respond to 4 out of 5 complaints. While this lack of customer interaction might not carry over to the company's business practices, it could be an area of concern to keep in mind. 

How to Submit a Loan Request for a Personal Loan

Submitting a request for a loan through BadCreditLoans is a straightforward process. You can submit your request for a loan offer in four steps.

Step 1: Complete the Loan Offer Request Form - You can find the loan offer request form on the main page. Fill out your zip code, birth year, and the last four digits of your Social Security number, then click "get started."  

Step 2: Complete the Loan Offer Request Form - This will take you to a loan offer request form, which will ask you basic questions about your creditworthiness, as well as how much you want to borrow and how you intend to use the funds. 

Step 3: Submit the Loan Offer Request Form - When you've filled it out, submit your loan offer request form online. 

Step 4: Receive a Loan Offer and Review It - If you receive a loan offer, review it carefully and make sure you understand all the terms and conditions, including the interest rate, fees, and repayment period. If you decide to pursue a loan offer, the third party lender that made the offer may require additional information before it can finalize your loan. 

How Long Does It Take for My Loan to Be Funded?

According to, many borrowers receive their funds within one business day, with some may have to wait up to three days to get their loan money. 

Alternatives to BadCreditLoans

If you have bad credit, it's a good idea to shop around for a personal loan so you know you're getting the best rates and terms. Here are two alternatives to to consider. 


CashUSA is another loan marketplace, which means it lets borrowers submit a loan offer request form that connects them with a variety of lenders. 

You don't need a specific credit score to submit a request for loans through CashUSA, however, some of the lenders in its network have internal credit score requirements, which can limit the types of loan offers you receive. 

Borrowers can get loans up to $10,000, and repayment terms range from 90 days to 72 months. Interest rates vary from 5.99% to 35.99%. is a loan marketplace rather than a direct lender. Unlike many other loan comparison sites, however, the lenders in its network offer personal loans up to $35,000.

While there is no minimum credit score required to apply for loan offers, many of the lenders in the network have their own criteria for approving borrowers. Generally, the higher your credit score, the better your chances of getting a loan offer with a decent interest rate. states explicitly on its site that most borrowers need a credit score of at least 580 and a minimum monthly income of $2,000 to qualify for a loan. If you qualify, your interest rate can range from 5.99% to 35.99%. 

Loan Scams and Red Flags to Watch Out For

Unfortunately, having bad credit can make you a target for predatory and fraudulent loan schemes. This is why it's important to recognize the warning signs of a scam.

You can avoid loan scams by doing your homework. There are also several common red flags to watch out for, including:

  • Unsolicited emails you receive when you never requested any information from the sender
  • Grammatical errors or spelling mistakes in written communication from a loan company
  • Unusually low interest rates
  • Overly generous introductory terms, such as one year without interest
  • Guaranteed loan acceptance 
  • High pressure tactics, such as warnings that you need to accept the offer within a certain period of time or risk having the offer withdrawn
  • Fees to get approved for the loan

By far, so-called "pay to play" requirements are the biggest indicators of a loan scam. Reputable lenders will never ask you to pay up-front fees to guarantee that your loan application will be accepted.  

Additionally, legitimate lenders won't guarantee that your application will be approved. Before you submit your personal and financial information to a website, search the company's name online to see if it has any bad reviews or negative reports.  


Past credit mistakes can make it difficult to qualify for a personal loan, but there are probably still lenders willing to work with you. A loan marketplace like can help connect you with a variety of lenders so you can comparison shop before making a decision.  

About the Author

Mike Pearson

Mike is a recognized credit expert and founder of Credit Takeoff. His credit advice has been featured in CNBC, Investopedia,, Bankrate, Huffpost, The Simple Dollar, Reader's Digest, LendingTree, and Quickbooks. Read more.

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