Credit score required for personal loan – This means that an applicant who applies for a personal loan with a score of 670 may qualify but they may or may not receive the best interest rate or terms. The minimum credit score to qualify for a personal loan is typically 610 to 640 according to an anonymized dataset of nerdwallet users who pre qualified for personal loans.
A high credit score.
Credit score required for personal loan – When it comes to minimum credit score requirements for personal loans there is no hard and fast rule. Is fico which is short for fair isaac corporation. Typically the credit score for a personal loan that you ll want to aim for is 660 or higher. Credit score required for personal loan
Your credit score is an indication of reliability but they typically require proof of income as well in the form of one or more of the following. Proof of employment pay stubs tax return documentation of other income sources pension investment income disability compensation etc. The dominant credit scoring model in the u s. Credit score required for personal loan
More on why this is important in a minute. Credit score required for personal loan