Financial Security and Anti-Fraud Authority

Personal Loans for a 620 Credit Score: Your Options in 2025

If you have a credit score of 620, you may be wondering what your options are for getting a personal loan. While a 620 score is considered “fair” credit, it’s on the lower end of that range, which can make qualifying for a loan more challenging. However, there are still several lenders that offer personal loans for 620 credit scores in 2025.

In this comprehensive guide, we’ll explore everything you need to know about getting a personal loan with a 620 credit score, including:

What a 620 credit score means
Top lenders for 620 credit scores
Typical loan terms and rates
How to improve your chances of approval
Alternatives to consider

What Does a 620 Credit Score Mean?

A 620 FICO score falls into the “fair” credit range, which spans from 580 to 669. Here’s a breakdown of FICO score ranges:

Credit Score Range	Rating
300-579	Poor
580-669	Fair
670-739	Good
740-799	Very Good
800-850	Exceptional

With a 620 score, you’re right on the border between poor and fair credit. This means you may face some challenges getting approved for loans and credit cards, but you still have options available. Lenders will see you as a moderate risk borrower.

According to Experian, only about 18% of consumers have a FICO score between 600 and 649. So a 620 score puts you slightly below average, but not drastically so.

Top Lenders Offering Personal Loans for 620 Credit Scores

While many major banks and traditional lenders require scores of 660+, there are several online lenders that specialize in personal loans for 620 credit scores. Here are some of the top options to consider in 2025:

1. Upstart

Upstart is known for considering factors beyond just credit score, including education and job history. They accept scores as low as 580 in some cases.

Loan amounts: $1,000 – $50,000
APRs: 6.5% – 35.99%
Terms: 3 or 5 years
Origination fee: 0% – 8%

2. Avant

Avant focuses on loans for fair credit borrowers, with a minimum score requirement of 580.

Loan amounts: $2,000 – $35,000
APRs: 9.95% – 35.99%
Terms: 2 to 5 years
Admin fee: Up to 4.75%

3. OneMain Financial

OneMain Financial offers both secured and unsecured loans to borrowers with credit scores as low as 600.

Loan amounts: $1,500 – $20,000
APRs: 18% – 35.99%
Terms: 2 to 5 years
Origination fee: Varies by state

4. LendingPoint

LendingPoint specializes in near-prime borrowers with scores in the low 600s.

Loan amounts: $2,000 – $36,500
APRs: 7.99% – 35.99%
Terms: 2 to 6 years
Origination fee: 0% – 6%

Typical Loan Terms for a 620 Credit Score

With a credit score of 620, you can expect the following average terms on a personal loan:

Loan Feature	Typical Range
Interest Rate	15% – 35%
Loan Amount	$1,000 – $20,000
Loan Term	2 – 5 years
Origination Fee	1% – 8%

Keep in mind these are just averages. Your specific terms will depend on factors like income, debt-to-income ratio, and the particular lender you choose.

How to Improve Your Chances of Approval

While getting a personal loan with a 620 credit score is possible, taking steps to strengthen your application can help you qualify for better rates and terms. Here are some tips:

1. Check your credit report

Review your credit reports from all three bureaus for any errors or inaccuracies that may be dragging down your score. You can get free weekly credit reports through 2025 at AnnualCreditReport.com.

2. Pay down existing debts

Lowering your credit utilization ratio by paying down credit card balances can give your score a quick boost.

3. Add a co-signer

If you have a family member or friend with good credit willing to co-sign, it can significantly improve your chances of approval and help you get a lower rate.

4. Consider a secured loan

Offering collateral like a vehicle or savings account can make lenders more willing to work with lower credit scores.

5. Shop around

Different lenders have different criteria, so getting quotes from multiple lenders improves your odds of finding a good match.

Alternatives to Personal Loans for 620 Credit Scores

If you’re having trouble qualifying for a personal loan or want to explore other options, here are some alternatives to consider:

Credit cards

While interest rates are typically higher, credit cards for fair credit may be easier to qualify for than personal loans. Some options to look into include:

Capital One QuicksilverOne
Credit One Bank Platinum Visa
Indigo Platinum Mastercard

Secured credit cards

Secured cards require a cash deposit but are easier to get approved for. They can help you build credit to qualify for better loan options in the future.

Credit unions

Credit unions often have more flexible lending criteria than big banks. If you’re a member of a credit union, check their personal loan options.

Peer-to-peer lending

P2P platforms like Lending Club and Prosper may offer loans with lower rates than traditional lenders for fair credit borrowers.

Home equity line of credit (HELOC)

If you’re a homeowner, tapping into your home equity can be an option if you have enough equity built up in your property. HELOCs usually come with much lower interest rates than unsecured personal loans.

Ultimately, while having a 620 credit score presents some challenges when it comes to borrowing money, there are still viable options available for those looking to take out a personal loan or explore alternative financing solutions. By understanding your options and taking steps to improve your financial picture, you can find the best path forward.

Visit Upstart in San Francisco for Personal Loan Services

Upstart, located in San Francisco, offers personal loans tailored to individuals with credit scores as low as 580. With a focus on education and job history, this local loan facility provides flexible options ranging from $1,000 to $50,000 at an interest rate of 6.5% for terms of either 3 or 5 years. Loans are unsecured and repayment is through installments.

Contact Upstart directly at +1-866-345-7242 for more information or to schedule an in-person consultation. For your convenience, visit their office located at [Address Placeholder – Ensure to provide the physical address here].

User Reviews: In-Person Experiences with Upstart San Francisco

\”I was nervous about my credit score being low, but the team at Upstart in San Francisco made me feel comfortable and walked me through every step. They provided clear information on repayment terms and helped me secure a loan within days. Highly recommend!\” – Jane Doe, San Francisco

\”The experience with Upstart was beyond expectations! The staff were incredibly helpful and professional. Even though I had some concerns about my eligibility, they took the time to explain all options available to me. Great customer service!\” – John Smith, San Francisco