Credit Score Ranges Explained

FICO ScoreRatingYour Options
800 – 850ExceptionalBest rates from any lender. Banks, credit unions, and online lenders compete for your business.
740 – 799Very GoodNear-best rates. Wide range of options available.
670 – 739GoodSolid options at competitive rates from most lenders.
580 – 669FairSome banks may decline. Online lenders and tribal lenders are more accessible.
300 – 579PoorMost banks will decline. Online lenders, tribal lenders, and secured products are your main options.

What Lenders Actually Look At

Credit score is important, but most lenders — especially online and tribal lenders — evaluate a broader picture:

  • Income and employment stability: Can you afford the payments? How long have you held your current job?
  • Debt-to-income ratio (DTI): How much of your monthly income already goes to debt payments?
  • Banking history: Do you have an active checking account? Is your income deposited regularly?
  • Loan amount requested: Are you asking for an amount that's realistic relative to your income?
  • Credit history: Not just the score — your pattern of payments, the age of your accounts, and recent activity.
At Patria Lending: There is no minimum credit score to apply. We evaluate your full financial profile — income, employment, existing obligations, and ability to repay. Your credit score is one factor among many, not a pass-fail gate. Learn more about bad credit loans.

Soft Inquiry vs. Hard Inquiry

This distinction matters because it affects your credit score:

  • Soft inquiry: A preliminary check that does NOT affect your score. This is what happens when you check your own credit or when a lender does an initial rate check. At Patria Lending, your initial application uses only a soft inquiry.
  • Hard inquiry: A formal credit check that may lower your score by 5-10 points temporarily. This typically happens when you formally accept a loan offer and proceed to final verification.

The soft inquiry distinction is important: you can check what you qualify for at Patria Lending without any impact to your credit score.

Can You Get a Loan with Bad Credit?

Yes — but your options and rates will differ. Here's what to expect:

  • Higher APR: Lenders charge more to offset the risk of lending to borrowers with lower scores.
  • Smaller loan amounts: You may qualify for less than someone with higher credit.
  • More documentation: Some lenders may request proof of income or employment.
  • Fewer lenders: Banks and credit unions often have hard cutoffs (usually 660+). Online and tribal lenders typically consider applicants across the credit spectrum.

The key is to compare your options honestly. A personal installment loan with a higher APR is still significantly safer and cheaper than a payday loan at 400%+ APR.

Check What You Qualify For

Patria Lending considers all credit types. Soft inquiry only — no impact to your score.

Check Your Rate

How a Personal Loan Can Help Build Your Credit

If your score is low, a personal installment loan can actually help improve it over time — provided you make on-time payments. Here's why:

  • Payment history (35% of your score): Each on-time payment is reported to credit bureaus as positive activity.
  • Credit mix (10% of your score): Adding an installment loan diversifies your credit profile, especially if you only have credit cards.
  • Defined payoff: Unlike revolving credit, an installment loan has an end date — demonstrating responsible debt management.

Bottom Line

There's no single credit score that guarantees approval for a personal loan. Different lenders have different standards, and most evaluate far more than just your number. If your score is in the Fair or Poor range, focus on lenders who consider the full picture — like Patria Lending — and use the loan responsibly to build your credit over time.