Compare fair credit loans

Fair credit loans

What is "fair" credit?

Firstly, let's define what we are talking about when we say "fair credit loans".

If you're here comparing fair credit loans your credit file will likely be a mixed bag. Not bad, but at the same time not great, somewhere in the middle. You're not after high APR loans and the limited options of those with bad credit, but conversely you're unlikely to be accepted for bank loans and other low APR unsecured credit. Essentially your credit history would be slightly worse than average.

If in the last 6-12 months you've missed several (three or more) repayments on a loan, credit card or any other credit account, or if you have any CCJs or defaults you're in the wrong place and need to head over to our bad credit loans page. In the same vein, if your credit history is perfect and you've not missed any payments, you should head over to our good credit loans page.

How do I know if I should be looking for fair credit loans?

If you aren't sure whether your credit file is good, average or bad then you can find out at one of the various websites that will show you your credit file. Do not pay for this! Noddle or ClearScore offer this service for free, and they are sites I recommend and the team here use themselves. After taking a look you'll be in a much better position to know what to expect from lenders, and be better armed to know whether you should be applying for a fair credit loan.

What can I expect from lenders?

Fair credit loans generally sit in and around the 35-99% APR bracket. Often offered by unsecured lenders they tend to work in a similar way to your standard bank loan, only with higher APRs (interest rate). The reason fair credit loans end up at a higher APR is because the lender is accepting more risk by lending to someone with a less than perfect credit history.

Are there any alternatives?

Of course, in order to increase your chances of being successful in getting fair credit loans you can explore guarantor loans, or secured loans. However, those types of finance are limited to those who have a guarantor or an asset to secure a loan against, such as a home or car. Guarantor loans and secured loans can be an alternative if you get rejected by an unsecured lender though and you should bear them in mind. I've not included these types of lenders in the table as they have their own pages for you to explore.

You can personalise these results with our loan search.

Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk