How to Choose the Best Personal Loan for Fair Credit?
Choosing the best personal loan for fair credit means looking at everything applicable that each lender has to offer. With that in mind, our experts looked at a variety of parameters as they were ranking their selections.
To give you a better idea of what to expect from the selection process, we've taken a closer look at those parameters below. Read them over carefully so that you have a better idea of how the selection process worked from start to finish.
- Loan Features: To start, our experts looked at features like loan terms, loan amounts, and loan use limitations.
- Interest rates and fees: Then, they also considered the different types of fees charged by the lenders and their minimum/maximum interest rates.
- Application process: Next, they looked at the invasiveness of the application information requirements, whether the lender performs a hard-pull or soft-pull on your credit, and overall funding time.
- Qualification process: The experts also considered qualification requirements, including minimum credit score, income requirements, co-signer or joint application optionality, and membership requirements.
- Customer support: Additionally, they look at the level of accessibility to a live CSR representative, the degree of multi-channel support, and the availability of supplemental information and tools.
- Online user reviews: They also read reviews on independent review sites like Trustpilot.
- Perks and Bonuses: Finally, they considered specified service offerings like payment flexibility, advertising transparency, and advanced technology.
Best Personal Loans for Fair Credit in 2022 - Full Overview