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Bad credit loans come with higher interest rates than other types of personal loans. Rates may be similar to those of credit cards , which averaged 20.66 percent in May. But credit card interest ...
Personal loans often come with lower interest rates than credit cards. As of July 2024, the average personal loan rate is 12.38 percent, while the average credit card rate is 20.73 percent.
Bad credit personal loan rates may reach 35.99 percent. They can be even higher for other types of bad credit loans . Higher interest rates also mean higher monthly payments and more interest paid ...
While several personal loan lenders offer loan amounts as high as $100,000, bad credit lenders tend to limit you to $50,000 or less. Repayment terms: Bad credit loan terms usually range between ...
Key takeaways. The current average personal loan interest rate is 12.36%. Excellent credit results in the lowest rates — and poor credit may have rates over 30%.
Cons. No co-borrowers or co-signers. Loan origination fee of up to 10 percent. High maximum APR. How to get a loan with bad credit. Getting approved for a personal loan with bad credit may be ...
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