2022’s Best Personal Loans For 400 Credit Score: Top Credit Cards For Bad Credit From Loans Places Near Me

Seeking loans for a 400 credit score can be challenging and disheartening. Not only can you be limited in terms of the loan amounts, but most of the time, you’ll need to pay extremely high-interest rates.

However, things don’t have to seem so hopeless. While banks often come with this scenario where the chances of being approved are extremely low, some companies specialize in providing loans for this credit score category of applicants.

So if you are facing a bad credit score, you might be aware that you need to make certain compromises on the loan terms. However, if this is not a particular problem for you, these platforms are the best way to avoid any financial emergency. Moreover, if you repay your loan responsively, you can improve your credit score and positively change your spending habits.

We have explored the best loans for 400 credit score lending sphere to find the most trustworthy and reputable loan lending platforms that can help you acquire quick cash whenever you need it as recommended by The Island Now. Since getting a loan from a traditional lender usually takes several weeks, we put a major focus on businesses that offer fast service. This means that you can have your money accessible to your bank account in just one business day.

3 Top Mortgage Lenders With Loans For 400 Credit Score:

  1. MoneyMutual: Overall Best Loans For 400 Credit Score, Editor’s Choice
  2. BadCreditLoans: Top Rated Personal Loans For Bad Credit & No Credit Check
  3. CashUSA: Preferred Payday Lender With Credit Cards For Bad Credit

#1. MoneyMutual: Overall Best Loans For 400 Credit Score, Editor’s Choice


MoneyMutual is a leader in the loan lending domain, specializing in loans for various credit score categories. The company works to connect borrowers with lenders to obtain a loan to cover all kinds of expenses in housing, health care, food, transportation, etc.

Having a 400 credit score doesn’t necessarily mean that your loan options are limited since MoneyMutual is open to accepting every applicant in times of financial emergency. You can obtain several loan types, including payday, installment, and cash advances. The loam amounts start at $100 and go up to $5000.

MoneyMutual offers a much easier approach than the traditional loan companies and banks since you can make an application anytime through their online form. Having over 60 lenders on disposal, you can receive loan offers in just minutes after the application and get the advantage of comparing the terms and conditions to choose your ideal option.

Up to this day, the company has successfully served over two million customers. Besides loans for bad credit scores, the company provides additional services for credit score improvement, depth settlement, and legal advice for borrowers looking to obtain better loan rates.

Platform highlights

Easily accessible service

One of the most notable highlights of MoneyMutual is its ease of accessibility. You can apply for a loan whenever needed, even on weekends and holidays, as the platform is available 24/7. Most importantly, the service is free, and you don’t have to pay any fees for connecting with a lender.

You can fill out a form through their website in a few simple steps, and you’ll receive loan requests from available lenders based on the information you have provided. Moreover, the probability of being accepted for a loan is higher than most competing platforms, even if your credit score is 400.

Flexible eligibility criteria

As a part of the OLA organization, the platform follows strict rules to prevent abuse between borrowers and lenders. The team carefully follows the lender’s way of operation to prevent scams and protect their clients.

Since the platform caters to clients with poor credit scores, the eligibility criteria aren’t too demanding. The applicants must be at least 18 years of age and have U.S. citizenship. The lenders will look for employment and monthly source of income to determine your loan terms.

The lenders are open to negotiations, so if you feel that the loan conditions aren’t very advantageous to your financial stance, you can close down the application without leaving any consequences on your credit score portfolio.

Average interest rates for specific loan types

Depending on your needs, MoneyMutual’s loans are suitable for all expenses. You can obtain any loan type without providing a reason for usage. The company distinguishes itself from the other loan lending platforms by limiting its lender’s APR charges between 5.99% and 24.99%. This means they aren’t allowed to change the APR during your loan.

Some of their best loan types for 400 credit score are the payday loans that can help you escape the cycle of debt by replying to the next paycheck and installment loans that can come with the advantage of being repaid within 3 to 12 months.

Installment loans are also viable for applicants with a 400 credit score mainly because they come with an option to be replied to within several installments. In case you aren’t able to make a repayment on time, you can notify the lenders, and they will extend your repayment period.

Extreme client protection

MoneyMutual puts a major focus on their client’s protection since it’s not unusual for customers to get scammed by money lending companies. The business is regulated by the Online Lenders Alliance, which only accepts licensed lenders to provide loan services.

The MoneyMutual platform is backed up with 256-bit encryption that keeps their client’s data safe and secure. Moreover, they monitor all the lender’s activity and notify the team if there are any suspicious actions.

=> Click here to visit the official website of MoneyMutual


  • Reputable platform with good rating among clients
  • No costs for application and using the service
  • Over 60 trustworthy lenders that specialize in bad credit
  • Fast funds transfer
  • Competitive APR
  • Variety of loan types ranging from $100 up to $5,000
  • Highly secured platform
  • Regulated by the OLA
  • Available 24/7
  • Attentive customer service


  • Only available in the US.

#2. BadCreditLoans: Top Rated Personal Loans For Bad Credit & No Credit Check


BadCreditLoans was established on the perception that a bad credit score is a serious problem that imposes difficult obstacles for individuals to acquire a loan from banks or other loan institutions. So instead of circling and getting rejected, BadCreditLoans offers great conditions for all individuals regarding their credit rating to cover their emergency expenses.

Even if your credit score is as low as 400, you can apply with complete confidence that you will be accepted as the lenders that collaborate with the company are open to working with all clients.

Same as the rest of the platforms, BadCreditLoans acts as loan aggregators providing various unsecured loans, including personal loans, mortgage loans, student loans, and auto loans between $500 to $10,000. Additionally, the business specializes in extensive credit-related materials on how to improve your credit score and consolidate debt.

Another vital aspect of BadCreditLoans is their blog with detailed information on loan frauds, informing customers how to avoid scams and protect themselves while using loan lending services. The business team is highly responsive in assisting their clients, offering support via phone or email.

Platform highlights

Entirely transparent service

BadCreditLoans stands apart by being especially transparent, presenting the rates and additional loan costs right from the start. You can get access to all loan offers even before accepting them and make a more convenient decision on what suits your needs the best.

You are free from any fees and costs from being connected with a lender, and you aren’t obligated to accept any loan offers.

Variety of loans for a 400 credit score

BadCreditLoans portfolio includes personal loans as the preferable loans for a 400 credit score, allowing you to borrow up to $1,000. Regarding business crises, the platform provides business loans that can be used for repairs, purchasing supplies, paying taxes, etc.

Even though the loans are smaller than most of the other platforms, they can be stretched for the clients that aren’t able to repay them quickly. BadCreditLoans maintains the loan charges within the industry-regulated norms to ensure their clients are protected from being overcharged. Any loan type APR is likely to vary from 5.99% to 35.99%.

A loan length can be between 3 to 36 months, especially for those qualifying for a 35.99% APR.

Simple and fast application

If you need money quickly but don’t qualify for traditional loans, BadCreditLoans ease the whole process. Compared to other brands, the eligibility criteria is adaptable. You’ll need to send your citizenship, age, regular income, and checking account.

The platform is fairly organized, with all the necessary information on the front page. You can easily access every important feature about specific loan types and what to expect once you agree upon an offer. BadCreditLoans don’t control the rates of the loans. However, you can read the contract before the agreement and negotiate with the lenders.

The platform will match you with appropriate lenders, and you’ll be able to select an offer and finalize the loan process in just one day once you find a suitable offer. Most of the time, the lenders transfer the funds in one business day.

Confidential and rigorously protected client privacy

Even before you receive the loan offers, you can access the factual information on the lenders that you can collaborate with and determine their confidentiality based on their experience. This option allows you to avoid dealing with fraud ones.

One step that makes the whole loan process hassle-free is the legally binding electronic consent you can do online. Its superior technology ensures complete protection for you to avoid bothering with documents while safeguarding your sensitive data.

Being at the top of the trust circle, BadCreditLoans obtains your personal information safely using powerful encryption technology both on the desktop and mobile app.

=> Click here to visit the official website of Bad Credit Loans


  • Easy to navigate platform interface
  • Simple eligibility criteria
  • Loans offer 400 credit scores starting from $500 up to $10,000
  • Service is free for use
  • Applicants with poor credit accepted
  • Fast funds transfer
  • Variety of loan types
  • Competitive loan terms and conditions
  • Fully protected with encryption technology
  • Customer service is accessible via phone and email


  • Might receive phone calls from lenders

#3. CashUSA: Preferred Payday Lender With Credit Cards For Bad Credit


According to CashUSA, there is no ideal borrower since everyone is welcome to use their loan lending service. This is one of the few reputable platforms that open their doors to all applicants regarding their credit score, mainly focusing on those with below-average credit ratings. You can safely apply for the desired loan type and get suitable offers without affecting your credit score.

The main advantage of CashUSA is saving time in a financial emergency. You’ll be able to connect to various lenders that can present you with loan offers that suit your necessity.

Positively, the lenders have no prepayment penalties, so even if you cancel your application, you won’t be affected in any way. On the other hand, if you fail to find a suitable offer, they can help you build your credit under the right circumstances and concur for better rates in the future.

CashUSA has maintained its reputation as one of the most reliable loan lending businesses for over 17 years, working with rigorously selected lenders. Even though the company is a payday loan provider, they also collaborate with lenders that offer installment loans.

Platform Highlights

Robust Peer-To-Peer Borrowing

CashUSA offers an opportunity for self-employed people with a bad credit score to qualify for personal loans that aren’t accessible with other traditional lenders. Since overweight native U.S. lenders guide these lenders, they might not always meet that state APR Maximus.

The platform specializes in loans with bad credit, limited credit, and even bad credit. Most importantly, even if you have a history of bankruptcy, repossession, and judgment, CashUSA might find you a suitable lender with whom to collaborate.

Depending on the lender and the state, the loans range from $500 to $10,000, which is a flexible loan amount for various expenses.

Find Your Best Rate Within Minutes

CashUSA’s most advantageous feature is its ease of use. It takes 30 seconds to fill out the application and find your best rate. The platform’s logarithm will process your application requirements with the lenders that match up with it and send your offers based on your credit history, credit score, and repayment abilities.

Most of the time, the credit score isn’t considered a sole factor in the loan approval, so you can qualify for a loan even if you have a 400 credit score if you satisfy the other eligibility demands. Even if you don’t find a suitable offer and decide to cancel the application, it won’t affect your credit.

Remember that pre-approvals aren’t guaranteed; however, they can help you get a general idea of the loan terms and conditions and evaluate whether they apply to your financial necessity.

Simple Loan Requirements

CashUSA is one of the few loan aggregator services that accept individuals of all backgrounds. This means you can still obtain a loan regarding your credit portfolio depending on the lender’s eligibility factors.

The application demands that you be at least 18, the same as with the other platforms on our list. Additionally, you must have a minimum income of $1,000 per month, have an active banking account, and be a permanent resident of the US.

Since CashUSA isn’t a direct lender or financial, you won’t be charged for using the service. The loan fees and interest depend on the lender that you’ll be informed of upon loan agreement.

Top-Notch Security And Data Protection

Hardly any other loan lending platform can compete with the security protection of CashUSA, which is largely the main reason they have been so successful in the loan lending sphere for so many years. The company uses several security systems to protect its client’s data, including a 128-bit encryption protocol.

Apart from this, CashYSA gives you ample room to share your sensitive information since no one other than the company can get access to them, giving certain limitations even to their lenders.

CashUSA puts strong restrictions on the lenders to harass, abuse or use deceptive practices during debt consolidation. And if any client faces anything similar, their customer service team will immediately take the case under their control.

=> Click here to visit the official website of CashUSA


  • Multiple loan types for various expenses
  • Wide range of highly confidential lenders
  • All credit scores accepted
  • Personal loans specialized platform
  • Application is free of cost
  • The fast and easy approval process
  • Transfer funds directly to the bank account
  • Disclosed loan terms and conditions
  • High-security protection
  • Responsible customer service


  • Not available in all US states

How We Made This List For Best Personal Loans For Bad Credit

While searching for lending platforms that offer loans for a 400 credit score, we came up with many not-so-reliable companies that work under suspicious conditions. This is why shortlisting the best ones was especially time-consuming and demanding.

Even though most lenders claimed they were willing to collaborate with applicants with very poor credit scores, very few offered somewhat acceptable conditions.

After so much researching, we came up with vital points that helped us pick the three platforms we reviewed. These were the crucial factors:

Credit History Requirements

Since we are talking about extremely poor credit scores, we mainly looked for loan lending platforms open to working with individuals with a below-average credit rating.

We have looked for platforms that have a solid reputation for working with this category of applicants and serve the purpose of helping them get out of this unfavorable financial stance.

We have checked all the platform’s requirements regarding credit score, what kind of loans they offer, and whether the clients can find these services useful.

Company Reputation

The loan lending domain is flooded with businesses that offer loans for poor credit scores; however, most aren’t reliable and work under suspicious circumstances. We focus mainly on the company’s reputation and how long they provide these services. We strongly avoided the newbie companies and those with no customer reviews available.

The company’s reputation is a significant factor and the safest way to avoid any type of scam. According to our team, the three brands we have reviewed have been in the business for the longest time and are backed up by thousands of satisfied clients.

Loan Transfer Speed

Fund transfer is a lengthy process for not reputed and well-established platforms.

Also, even with traditional banks, it can be very time-consuming if you don’t have shiny credit and have a significant history of depth. Since most of the clients that look for these services have little time at their disposal, we paid attention to the platform’s fund transfer time.

All the companies on our list specialize in fast transferring, allowing you to access the loan in less than 24 hours.

Straightforward Application Process

The fact is that loans for poor credit aren’t easy and convenient to apply for, and you might come up with many challenges during the process. This is why we focused on those companies that have simplified their application method for their clients to access the needed funds more rapidly.

The three platforms mentioned offer online applications that can be done in a few simple steps. You won’t have trouble navigating through the website if you are a first-time user and have never applied online. Also, the companies have an especially attentive customer service team that you can contact via phone or email to assist you and answer all your questions during the process.

Loan Amounts

Loan options for a credit score of 400 aren’t very wide sense; in this case, the lenders presume that allowing a big amount is risky.

Payday loans can be acquired in amounts as high as $50,000 if you have an excellent credit score. Since most readers looking for these platforms will have a below-average credit score, we ensured that the loan amounts could suit most everyday expenses.

The platforms on our list offer the highest loan amount of $10,000, which was an approachable sum for a short-term loan. On the other hand, we also looked for platforms that offer additional financial services to help applicants improve their credit portfolios.

Loan Terms And Conditions

Each loan type comes with different terms and conditions, even if you ask for the same loan amount. For example, unsecured and secured loans can differ in repayment terms even if they are the same amount.

While evaluating the loan lending platforms, we looked for those businesses that don’t take advantage of the bad financial situation of the applicants to charge exorbitant interest rates; instead, we have selected those loan lending platforms that follow the industry rules.

Most importantly, we paid attention to the loan repayment period. The longest loan lifetime we found was 32 months. Since some users cannot make repayments until the next paycheck and look for more flexible options, installment types of loans are a suitable option for covering various financial necessities.

Buying Guide: Tips on ‘How to Improve Credit Score ?’

Having a 400 credit score doesn’t necessarily mean a dead-end situation. Thankfully, there are certain actions you can take that will help you rebuild your credit which can help you get better loan rates in the long run.

However, you must be aware that rebuilding your credit can take a long time, sometimes up to several years. Ultimately, it all depends on the decisions you are making and your finances.

Review your credit report for any errors

First, you must get your credit report from the three major bureaus and review it carefully for any errors. If you find any mistakes and insurances, open a dispute and demand a correction within 30 days. You need to make these checks every 12 months since there is a risk that you might have your credit score lowered because of some issues you have not dealt with.

Get advantage of the credit rebuilding tools

Many loan lending companies have specialized credit rebuilding tools for consumers with 400 ratings. Some of the possible approaches can be:

Authorization usage of someone’s credit account

Becoming an authorized user on someone’s credit account will add all their information to your credit report, which can significantly strengthen your credit portfolio, notifying the credit bureaus that you are responsibly managing their finances.

Credit rebuilding loan

Credit rebuilding loans aren’t traditional, as they are specially designed for individuals with credit scores below 500. This type of loan doesn’t come up front, meaning it will sit in your savings account until you make all the monthly payments until you pay the whole sum to access the money.

Opt for a secured credit card

Secured credit cards require a security deposit the company can keep if you stop making payments. These cards are easy to obtain, even with a credit score as low as 400.

Agree with the depth collectors

Negotiating with your depth collectors if you have a 400 credit score can help you get a significant advantage when trying to improve your credit score. Some of the possible solutions you that can propose are:

Hardship program

A hardship program is a specialized program for a credit score as low as 400 where you agree to pay off your debt within a fixed schedule, while your credit card issues give you more favorable repayment terms. You can get the opportunity to make minimum payments and get a reduction in the interest rate.

Pay or delete the template

Py or delete template allows the credit to remove a collection account or the late repayment in exchange for a depth repayment in full. If you can make this agreement, it will improve your credit score in a record amount of time.

Debt settlement

A debt settlement program can help you clear your debt for less than you owe. Settled depths are a better option than unpaid debts that constantly impact a credit score. If you decide on this option, you can simply send a debt settlement letter to a list of depth settlement agencies.

Improve your credit-building habits

Improving your 400 credit score long-term is a difficult and demanding process that requires responsible financial habits. Particularly you would want to limit your spending as much as possible, including your credit utilization on all your accounts.

You should prioritize paying off all overdue depths to prevent being charged-off or sent to collectors. To avoid missed payment, you can set repay reminders ensuring you aren’t skipping any due payment.

Also, having a good financial strategy goes a long way. You can seek advice from financial experts who can advise you on what action you should take. This can help you get in a better credit score stance faster.

FAQs On How To Fix Your Credit

Q1. What Type Of Loans Can I Get With A 400 Credit Score?

Having a 400 credit score might pose issues when choosing traditional loan lending companies since they usually don’t work with applicants under a certain credit score limit.

In this case, you might need to look for the subprime avenues and those loan lending companies that don’t perform the typical credit check. You will have limited loan options since the company will evaluate your eligibility under alternative circumstances regarding your financial condition. The credit solely doesn’t limit the loan offers, so in this case, the available options for you might be:

Payday Loans/Cash Advance

These loans are presented for borrowers with extremely poor credit ratings because of their simple eligibility criteria and fast approval. Typically they are inexpensive, and there is no collateral required.

The repayment period can be between two weeks to one month, usually until your next paycheck. Most of the time, payday and cash advance loans are highly regulated, so it’s important to check your state rules before applying for one.

Personal Installment Loans

These loans are another viable option for individuals with credit scores below the good range as they are one of the most commonly used types of loans for many expenses. You can qualify for much larger amounts compared to payday loans, and you might have more flexible repayment terms for the interest rate and monthly payments.

A Loan From Credit Union Or Bank

A 400 credit score might also be accepted if you are applying for a loan from a credit union or bank if you already have an existing relationship with these financial institutions.

These types of loans don’t have some bigger issues regarding the eligibility criteria, and you might also concur with much better rates and conditions than the alternative loan lending platforms. However, in this case, you might have to provide collateral in the form of property.

Q2. How To Protect Myself From Being Scammed While Acquiring A Loan For A 400 Credit Score?

When shopping for bad credit loans, there is a certain type of situation stating you shouldn’t put your trust in certain lenders. Some of the most important things to watch out for are:

Guaranteed Approval

Even though some lenders don’t rely upon your credit score specifically, they still want to see other conditions regarding your financial stance to determine your eligibility. They might look at your previous applications, employment, monthly income, etc. You shouldn’t trust loan lenders that aren’t interested in any of these aspects and give approvals immediately.

Not Registered Businesses

This might seem obvious, but loan lending companies must have a license in the state they perform and be registered to offer their service. The Federal Trade Commission regulates all the lending companies around the US, so before consenting to work with any of these companies, check whether they are allowed in your state.


All loans for credit below 400 come with additional charges in the form of origination fees; however, these charges are deducted from the total amount of the loan. Don’t trust lenders that require you to provide cash or prepaid debit cards upfront.

Unsecured Website And No Physical Address

Another common red flag that states a loan lending company isn’t reliable is their online website. If the lender’s site doesn’t begin with “HTTPS,” the page isn’t secure and might sell your data to a third party. Also, companies that don’t have physical addresses most of the time aren’t reputable.

Q3. What Is A 400 Credit Score, And Why Is It Bad?

A 400 credit score means you are below the average rating, as the lowest limit starts at 300. In this case, you will most likely be rejected for most loan types. The alternative is to rebuild your credit by putting down deposits on secured credit cards.

Generally, consumers with a 400 credit score have a history of payments showing they’ve gone 30 or more days past due on payments in the last 10 years. This represents an especially bad credit history that needs to be improved.

The credit usage for consumers with a 400 credit score is 73%, considering the maximum 100% rate of the entire spending limit. Ideally, the utilization rate should be 30%.

Q4. What Is The Eligibility Criteria For Loans With A 400 Credit Score?

Having a 400 credit score significantly limits the options for getting a loan; however, it doesn’t mean that it’s impossible as long as you satisfy the other eligibility factors. Most of the time, the loan lending companies will match you with specified lenders that work with applicants with a below-average credit rating.

Many lenders require your basic information, including your employment and monthly income. As long as you are at least 18 years of age, have U.S. citizenship, and have a steady income, you might still be able to acquire a loan with a 400 credit score.

There is no certain guarantee that your application will be approved. If it is, you must know that the loan types with these conditions might come with exorbitant interest rates and a very strict repayment period.

Q5. Is It Possible To Buy A House Or Rent An Apartment With 400 Credit?

As we have already mentioned before, having a 400 credit score might cause difficulties in getting most mortgages; even when getting a loan for renting an apartment, most landlords check on your credit history to determine your financial abilities.

It’s certain that with a 400 credit score, you might not be able to acquire such a large sum of money to buy a house; however, you can certainly get a loan amount that might be enough to cover several months of rent. You can also get a co-signer to help you borrow bigger loan amounts for buying property.

Conclusion: Find The Best Personal Loans For Bad Credit No Credit Check

We are very happy that you managed to stick with us until the end, and we hope that we were able to provide you with a helpful source of information on how to obtain a loan for your specific credit score condition.

These platforms offer a variety of loan types for any expenses, including home repayments, debt consolidation, financing vacation, student loans, etc. So, regarding your loan purpose, they can help you save yourself from the extremely demanding loan conditions that the traditional loan lenders and banks impose.

We want you to remember that when you approach any of these sites, carefully read the terms and conditions before accepting any loan offer.

Also, you need to make a concrete financial plan before filling out an application and determining the amount of money you need. We strongly advise you against taking more money than you need to avoid unnecessary expenses and getting into a bigger debt than you previously were.

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