Bad Credit Loans Review - I Tried It And Here's How It Went

Rating as of based on a review of services September 19, 2022.

(Money Under 30 Rating)



Bad Credit Loans is exactly what the name implies, an online loan source for people who have bad credit. They provide personal loans, business loans, auto loans, student loans, mortgages, and debt consolidation loans. Personal loan amounts are small, topping out at $5,000. Similarly, loan terms a relatively short, at no more than 3 years.

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Interest rates and fees


Credit qualification


Loan terms


Loan amounts


Funds availability




Best for:


  • Bad credit
  • Multiple lenders
  • Single application
  • Small loan amount

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Check out this in-depth look at Bad Credit Loans, a service that helps connect borrowers with lenders that may even qualify bad credit score applicants.

Getting a personal loan is becoming easier with each passing year thanks to more advanced technologies and a growing number of lenders generating healthy competition. That said, being approved for a loan doesn’t necessarily mean that you’re guaranteed the best rates. And the worse your credit score is, the harder it will be for you to find a reasonable interest rate (if you get approved for the loan at all).

Before you give up hope, there’s good news for everyone and especially those with poor credit. Bad Credit Loans is an online lending portal that helps people find loans. With this service, you can get all sorts of loans, including personal loans, business loans, car loans, student loans, home mortgage loans, and credit card consolidation loans.

Bad Credit Loans can find you loans starting from $500 up to $5,000, and its loan terms vary from as little as three months up to 36 months with varying interest rates from 5.99% – 35.99% APR. How much you pay per month, interest payments, and other details will depend on the lender you are connected with.

So, what’s Bad Credit Loans all about? In short, it’s online loans made simple. You can get started with three short, easy steps. I went through the process so I could tell you exactly how it works and how easy it was. Here’s what I found out.

How Bad Credit Loans works

Bad Credit Loans request

Step 1 – Submit a request for your loan is not a direct lender. Instead, it connects you with a lender that can offer you a loan that can work for you. To get the ball rolling, you just need to fill out this simple online request form. It is just like most online loan request forms with basic questions like:

  • Amount requested
  • Credit type
  • Loan reason
  • Name
  • Date of birth
  • Whether or not you’re in active military duty

After that, you’ll be asked a few more questions including your address, phone number, employment information like where you work, how long you’ve been employed there, and monthly gross income, and identity and bank information.

Bad Credit Loans form

Finally, you’ll be asked to input your bank account number and routing number through which the loan will be deposited. All in all, the loan request process should only take you a few minutes.

One mark against though is all the information you have to provide before you even get a quote. Other lenders will let you ask for a rates quote before you submit a lot of personal details.

Simple requirements

A note about requirements: Bad Credit Loans has really simple requirements. In order to take advantage of the service, you must be a legal citizen of the United States and 18 years or older. Additionally, you’ll need a checking account with your name on it, and you’ll be asked to provide your current employment information (whether it’s self-employment, job employment, or some sort of government benefits – Bad Credit Loans wants to see that you have some sort of income to cover the monthly payments for your loan).

Step 2 – Receive offers from real lenders

Remember how I said that Bad Credit Loans isn’t actually a direct lender but a service that connects borrowers like you with the companies that can give you a loan? Well, here’s the part where the lenders themselves enter the scene.

Bad Credit Loans Algorithm

Bad Credit Loans collects your information and runs it through its algorithm to find a lender with a loan that can work for you. What does this mean? Well, some lenders only offer certain types of loans. Other lenders will only work with someone who has an excellent credit score. Still, other services cap their personal loans at a lower amount. Bad Credit Loans crunches all the data you’ve filled out on your online request form and then attempts to connect you with a lender based upon your information.

One other way that Bad Credit Loans helps you is by saving you time comparison shopping. Instead of spending hours, if not days, in tedious, frustrating, and sometimes pointless phone calls, web browsing, and sales pitches, you can leave it to Bad Credit Loans to help you find a lender based upon the information you provided.

Step 3 – Peruse, review, and accept your loan terms

Now that your personalized loan offer has come in, it’s time to consider the terms available. Bad Credit Loan’s large lender network can offer you a loan with rates and terms that can work for you, but it’s up to you to make the final decision. Look at the lender’s proposal carefully and decide if it suits your circumstances. If not, you’re completely free to turn down that offer and start over to see if you can get another one.

Keep shopping

For example, if you only have a limited amount of disposable income right now, you might prefer to take a loan that is spread out over a longer period of time, so your monthly payments are lower. This type of loan will come with a higher interest rate, but that might be a worthwhile tradeoff for you to have the lower monthly expense. Alternatively, you might just need some cash to cover a seasonal restocking.

You know that the money will come in quickly once you start taking orders, so it’s okay for you to take out a shorter term loan in which you pay back the money faster and for a lower APR. These are calculations you might not have made until the offer was in front of you. Now you can adjust the details you provide to include these issues and hopefully get an offer that’s better suited to your needs.

Step 4 – Get your loan and thank Bad Credit Loans for it (optional)

Once you’ve accepted the loan offer from the lender, it’s time to finalize. Remember that until you sign the contract, you are under no obligation to the lender or Bad Credit Loans to take the loan. This service is free, and you can walk away at any time. If you want to take the loan, you’ll be connected directly with the lender to finalize the details, accept the terms, and receive your money. How fast the loan clears will vary depending on the lender in question.


Bad Credit Loans makes this step even easier by offering e-consent. This is a legally-binding electronic consent form that is done online, so you don’t have to go down to any offices or bother with printing and scanning any documents. Good job, Bad Credit Loans.

Pros & cons


  • Ease of use — The loan platform is very easy to use.
  • Apply once — You can apply to multiple lenders with a single application.
  • Bad credit dedicated — This platform is specifically for people with bad credit.


  • The loan amount — Bad Credit Loans only offers small loan amounts.
  • Reputation — They have a poor rating from the Better Business Bureau.
  • The process — The application process requires a considerable amount of information upfront, including your bank information.

Why use Bad Credit Loans?

Aside from the fact that Bad Credit Loans makes submitting a request for, finding, and approving loans simpler than ever, there were a lot of other things I liked about this service. For one thing, there are tons of articles and tips available on the website. You can read these to answer important financing questions like how to budget so you don’t fall into financial issues in the future, how to pay off your loan faster, how to spend the money you borrow responsibly, and whether or not you should even be considering a loan.

Round the clock availability

What’s more, the service is available 24/7. So, you can submit a request and get an approval decision for a loan anytime you want or need it. Bad Credit Loans uses top of the line data encryption to keep your information safe as well. Best of all, anyone with any credit rating can submit a loan request.

Alternatives to Bad Credit Loans

While Bad Credit Loans may work for a lot of people, you could find better opportunities elsewhere. Here are a couple of other reputable companies you should check out.


Bad Credit Loans Review - I Tried It And Here's How It Went - MonevoMonevo is a great tool for those looking for a personal loan, even if your are just comparison shopping. With no impact on their credit, users can get personalized loan offers from over 30 of the best lenders and banks in the country. The best part? It only takes sixty seconds to receive your offers and you are under no obligation to accept any of them. Since Monevo is completely free to use, checking them out is a no brainer if you are shopping for a personal loan. 

Rates found through Monevo  run between 1.99% - 35.99% APR APR, but vary based on the lender. Some lenders will even send your funds, upon acceptance of your loan application, as soon as the next day. 

Learn more about Monevo or read our full review


Bad Credit Loans Review - I Tried It And Here's How It Went - OppLoans

If you are plagued by bad credit or are just looking for a personal loan that you can pay back in installments, OppLoans is here to help. Offering loans ranging from $500 to $4,000, they make it easy to apply for a loan and get an answer the same day. If your credit history is limited, don’t worry! OppLoans makes it a priority to help those who are looking to build their credit history and even pay off their debt. 

An important thing to remember when applying for a loan through OppLoans is their high APR. While those with limited, or bad, credit may not have many other options, keep in mind that interest rates can range from 99% to 199%. The rates and terms (up to 36 months) provided by OppLoans vary based on the state that you reside in.

Learn more about OppLoans or read our full review.


All in all, Bad Credit Loans was a pleasure to work with. The online request process was fast and easy (though a little more detailed than others), and the fact that anyone can submit a request for a loan regardless of credit history opens up a new realm of possibility for people who might never have been approved for a loan before. I give Bad Credit Loans two thumbs up!

Learn more about Bad Credit Loans and find the best loan for you today!

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