Top loans for bad credit compared

About Top loans for bad credit compared

Borrowing with a poor credit file rarely turns on the headline rate alone, so this ranking of 261 brands weighs what a reader actually feels: what the loan costs, how the money is handled, and how the account works once the money has moved. Every brand here works with applicants whose credit is poor or, in a single case, fair, and each is listed with its amount, rate, term, fee and support channels so the trade-offs sit side by side. The markets differ, with brands in the Philippines, Spain, Mexico and the United Kingdom, so eligibility is worth checking before anything else. Size is the widest gap: the median loan in this category is €346.97 and the median term 17 months, while secured lenders offer sums many times larger. The central trade-off is speed against cost. The quickest brands pay out within minutes with an origination fee of 0 MXN, yet they often run a hard credit check or keep the term very short. The property backed brands go further on amount and duration, and wait longer for the money.

How we picked

Each brand in this ranking was scored against fixed weights and nothing outside them. Cost carries 35%: what you pay back, covering the rate band, the term attached to it and any origination or arrangement fee. Offer carries 25%: the size of the loan, the range of terms, the loan types on the table and the speed of funding. Trust carries 40%: the kind of company behind the brand, whether it lends directly, brokers to a lender or runs a marketplace, how the credit check is carried out and how a customer reaches support. Figures were taken from each brand's own published pages, its terms and conditions and public company filings, and the qualifiers attached to them are kept in the copy. The wider site tracks 1,103 brands, of which 261 serve this category and 261 appear here. Partner brands are listed first under the ranking rules, and the rest follow in score order.

Our top picks

1. 2. Sofkredit

   Sofkredit is in this ranking for borrowers with poor credit who need a bigger sum over a longer term and can offer a property. Amounts of €12,000 to €300,000 sit at rates of 10.74% to 18.06% across terms of 6 to 240, covering secured, debt consolidation and business lending for home improvement work. The credit check is soft prequalification and support runs on email, phone and help centre. The trade-off is price and pace, since the collaborating lender takes an arrangement fee of 6% to 9% of the loan and the money usually follows approval later, though it can arrive the same day as the notary signing. Cashspace ES, the brand after it, is smaller and quicker with a fee of 0 EUR.

   • APR: 10.74% to 18.06%
   • Loan amount: €12,000 to €300,000
   • Term: 6 to 240 months

   Pros

   • Sofkredit's own service costs nothing, so the only charge to weigh is the lender's arrangement fee of 6% to 9%.
   • The loan range €12,000 to €300,000 and the term range 6 to 240 suit both renovation projects and debt consolidation.
   • Eligibility leans towards weaker files, with the credit needed listed as poor, and the credit check is soft prequal.
   • The range 0.5 to 20 lets a borrower fix the rate for a short stretch or a long one.
   • Same day funding is listed as same day funding once the notary signs.

   Cons

   • The arrangement fee of 6% to 9% is a large share of the loan, and the product fee on a small mortgage guaranteed loan runs €900 to €1,350.
   • Maximum loan to value is 30%, well below the 90% across listed lenders, so equity of your own is required.
   • Sofkredit is a broker, so the contract sits with the collaborating lender rather than the site you apply through.
   • Support runs on email, phone and help centre, with no chat or community channel listed.

2. 5. Prestamiau

   Prestamiau is in this ranking for Mexican borrowers with poor credit who need a modest sum quickly. Amounts of MXN 100 to MXN 20,000 at MXN 0 to MXN 36 cover personal and debt consolidation loans over 3 to 4, with a fee of 0 MXN. Applicants need a stable income, a bank account, official identification, a phone and an email, and the clock is short: Loan obtained in 5 minutes; full process under 30 minutes. As a marketplace, the offer itself comes from a lender outside the brand, which sets the final terms. The weak spot is contact, since support runs on email only, with no phone or chat line. Solcredito MX, the brand after it, offers much larger sums on a fixed rate.

   • APR: MX$0 to MX$36
   • Loan amount: MX$100 to MX$20,000
   • Term: 3 to 4 months

   Pros

   • The origination fee is 0 MXN and the fee percentage is 0%, so the cost of taking out a personal or debt consolidation loan is low on paper.
   • Funding is quick, with Loan obtained in 5 minutes; full process under 30 minutes, and same-day funding is listed as a feature.
   • The rate is MXN 0 to MXN 36 against a site median of 12%, and the brand holds position 1 of 350 on rate.
   • The credit needed is poor, which matches applicants whose credit file is thin.
   • Loan amounts run MXN 100 to MXN 20,000, which suits a single expense rather than a large purchase.

   Cons

   • Repayment sits in 3 to 4, so the cost of the credit lands in a very short window.
   • Support runs on email only, so a question about a repayment date waits on an email reply.
   • The lender kind is marketplace, so the rate and amount you receive depend on the offers available when you apply rather than on a single named lender.
   • The brand ranks 676 of 685 on loan amount, so it sits low in the field for larger sums.

3. 9. Andacredito

   Andacredito is in this ranking as the shortest window on the board, which suits clearing a small balance fast rather than spreading it. Amounts of €100 to €5,000 at 0% to 36% sit on a variable rate over terms of 2 to 3, with a fee of 0 EUR and no extra charge for repaying early, plus 10 minutes to receive the money. Loan types run from personal and payday to car, business, student and debt consolidation. The limits are that variable pricing can move, and that support runs on email only, with no phone line or help centre. Cashspace MX, the brand after it, lends far more and for longer.

   • APR: 0% to 36%
   • Loan amount: €100 to €5,000
   • Term: 2 to 3 months

   Pros

   • An APR of 0% to 36% and an arrangement fee of 0 EUR keep the headline cost at the cheap end.
   • Funding in 10 minutes suits a bill that lands today rather than next month.
   • Early repayment is free, so an unexpected windfall clears the balance at no extra cost.
   • Built for poor credit, so a file other lenders decline still has a route.
   • Brokers are 20.6% of the listings here, so a matching service is a real alternative.

   Cons

   • The term is 2 to 3, so the balance must clear quickly and a gap suits better than a cost spread over years.
   • The rate is variable, so the figure you finish on is exposed to a rate move.
   • Support runs on email only, so every question and dispute is handled in writing.
   • As a broker, the final rate comes from the partner, so 0% to 36% is a starting point.

What to look for

What the loan costs in total

Look past the headline rate to the total repayable, because pricing for thin files moves quickly. The typical rate in this category sits at 19.98%, and the middle of the range runs from 6.62% to 52.97%. Then check whether an origination or arrangement fee sits on top of the interest.

How much you can borrow

Match the amount to the gap you are covering. The median loan in this category is €346.97, and the middle of the range runs from €53.69 to €1,314.69. A brand that only offers small sums cannot clear a large balance, whatever the rate on offer.

How long you have to repay

Term sets the pressure on a monthly budget. The median term here is 17 months, with the middle of the range between 3.25 and 60 months. A short term suits a bridge between payslips, not a consolidation of existing balances.

How the credit check is carried out

A hard check can follow a decline, so it is worth asking before an application is sent. Hard checks account for 49.1% of this category against 36.3% for soft prequalification, which is the gentler route when a file is already thin.

Speed of the money and the way out

Same day funding is normal in this category at 88.9%, and settling a loan early without a charge appears in 88.4% of offers, which matters if the balance shrinks sooner than planned. A direct lender usually handles both, while a broker passes the request to a lender.

How a question gets answered

Know who sits behind the application. Phone support carries a weight of 73.9% against 88.7% for email, so a brand reachable only by email means waiting on a reply when a payment date is close.

Frequently asked questions

Top loans for bad credit compared by country

• Australia
• Canada
• Colombia
• Germany
• Italy
• Japan
• Mexico
• Poland
• Portugal
• South Africa
• Spain
• Sweden
• United Kingdom
• United States

Lenders compared head to head

• Sofkredit vs Quick Car Finance
• Sofkredit vs Prestamiau ES
• Quick Car Finance vs Prestamiau ES

The data behind this ranking

All data and the CSV