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This is an extremely common question when it comes to bad credit loans, and it is also one with a simple answer: there is no such thing as a single minimum credit score that someone has to have, in order to get approved for a loan.

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While we strive to provide opportunities for individuals with poor credit, it's important to note that loan approval is not guaranteed and will depend on each lender's criteria and your specific financial situation.

In theory at least, you could have any level of credit score, and still have a chance of a lender offering you a loan. However, a poor credit score could make a big difference to your prospects of being granted a loan, as well as to the specific terms you are likely to be offered for such a loan.

People with poor credit scores who are offered a loan, are likelier to be asked to pay a higher interest rate on the loan in question. This is the lender’s way of helping to mitigate against the risk an applicant with a bad credit score is perceived to represent, in terms of the likelihood of them actually repaying the amount borrowed. A bad credit score can also make it harder for an applicant to get approved to borrow an especially large amount of money.

Our no-obligation loan request form allows you to explore loan options tailored to your situation without committing to any financial decisions. It's a simple way to understand what's possible, with no pressure to proceed.

But to reiterate: there is no credit “blacklist” as is often assumed by many people seeking out bad credit loans. And even if you do have a poor credit score right now, there is a good chance that you will still be able to apply successfully for a loan.

Please be aware, loans for those with poor credit scores might come with higher interest rates, which could increase your financial burden. Consider your ability to repay before applying to avoid further financial strain.

So, what counts as a ‘bad’ credit score among the main credit reference agencies?

So what counts as a bad credit score among the main credit reference agencies

In case you’re wondering what a credit score is, it is a number that a credit reference agency (CRA) calculates by drawing upon a record of your financial relationships, and which can be instrumental in helping lenders to determine whether to lend to you.

As there isn’t just one CRA in the UK, you won’t have just one credit score; in any case, the main CRAs vary in the exact systems they use to calculate their scores. In fact, there are three main credit reference agencies in the UK – Experian, Equifax, and TransUnion.

The following would be classed as a poor or very poor credit score with these agencies:

  • •    In the case of Experian, a score of 720 or below (the maximum possible score being 999)
  • •    In the case of Equifax, a score of 438 or below (the maximum possible score being 1000)
  • •    In the case of TransUnion, a score of 565 or below (the maximum possible score being 710)

However, none of these score bands mean that if you fall into “poor” credit score territory, you will automatically be turned down for a loan. Remember that lenders are companies with their own decisions to make on whether or not to lend to a particular applicant, and your credit score is just one factor they will look at when deciding on your loan application.

Indeed, there are lenders out there that specifically cater to people who have poor credit (hence, the rise of the term “bad credit loans”). So, if you have poor credit and are anxious to ensure a lender is likely to approve you, it might be an idea to seek out these companies in particular.

But you don’t need to approach bad-credit lenders one by one!

But you don t need to approach bad-credit lenders one by one

Yes, that’s right; here at CashCompare, we have effectively brought together a variety of lenders, including several that specialise in the provision of bad-credit loans, under a single roof. And by completing and submitting our no-obligation loan request form, you can quickly get a sense of what could be possible as you seek out a loan that represents the best possible match to your needs.

As we are a credit broker rather than a lender in our own right, we can focus on helping to bring you the most suitable loan for your circumstances and requirements, instead of trying to “sell you” a product that might not be right for you.

Within a few minutes, you could feel much better informed on the loan offers that are possible when you are considering your options as someone with a poor credit score.

CashCompare is authorized credit broker and does not make any lending decisions, ensuring that we adhere to the highest standards of fairness and transparency in all our practices.

We recommend considering speaking to a financial advisor to explore your options and ensure that taking out a loan is the right decision for your circumstances. This step can provide you with a broader perspective on your financial health and borrowing options.

"Warning: Late repayment can cause you serious money problems. Always consider if borrowing is the right option for you and ensure you can repay your loan." For help, go to

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