5 Best Loan Options for a Personal Loan 350 Credit Score
A credit check is the most frequently used metric by lenders to determine whether or not to grant loans and in what terms. Credit scores are ranked from 300 (lowest) to 850 (highest) depending on an individual’s financial history. Having a credit score of 350 is among the lowest credit score one can have, and it often indicates severe payment problems in the past.
When you need a loan and have a credit score of 350, your chances of approval become extremely low as lenders are wary of your financial past. Nevertheless, you can still get a loan when you need one, but only if you know where to look for one and how to overcome the challenges involved.
Where to find a loan with a 350 credit score
Believe it or not, there are even some banks that may consider providing a loan to you despite having a 350 credit score. However, these are far and in between. First off, forget about the big banks and focus on smaller, regional and local banks. Also, do not expect to receive a 5-figure loan amount but always apply for less than $10,000. In case you need more than that to satisfy your needs, request the loan from multiple lenders and combine it thereafter.
