How can I borrow $10,000 with Bad Credit?

Borrowing with bad credit is difficult due to a variety of issues, including subprime lending and fewer options. But yes, it is possible to borrow $10,000 with bad credit, and the reason is that lenders have different requirements, which makes it easier to secure loans.

On a scale of 300 to 850, a credit score of 580 or below is bad. For amounts over $5,000, a credit score of 650 or higher is recommended. If your credit score is less than 650, it’s best to split the loan amount between two or more lenders or work on improving your credit before applying later.

$10,000 Installment Loans for Bad Credit

After $2,000 and $5,000, $10,000 is a popular installment loan amount with most borrowers. Several of the top online lenders, including CashUSA, HonestLoans and LifeLoans, offer $10,000 installment loans.

There are several reasons why installment loans are so popular:

  • Higher loan amounts – One of the primary benefits of installment loans is their large amount. Most of the top lenders lend up to $50,000.
  • Flexible repayment terms – Installment loans have flexible repayment terms ranging from 90 days to 7 years.
  • Reasonable monthly payments – Another advantage of installment loans is their lower monthly payments. The interest rate is lower in installment loans if you choose a 1 to 5-year repayment duration, making this a great option for many borrowers without the burden of one heavy payment, as in the case of payday loans.
  • Speed of approval – Most installment loans do not take more than two weeks to be approved. If you work with the right lender, you can get an installment loan within two business days or the same day in some cases.

Requirements for Installment Loans

Requirements for installment loans can differ from one lender to the next. But the general requirements include:

  • 18 years or older
  • An ID
  • Monthly income above $800 pre-tax with proof such as a pay stub
  • An active bank account

Where can I get Bad Credit Loans with Guaranteed Approval of $10,000?

Bad credit loans with a guaranteed approval of $10,000 are uncertain since no lender can technically guarantee a loan. However, as highlighted above, lenders have very flexible loan requirements, even for borrowers with poor credit scores.

Some lenders only need proof of income, while others do a soft credit check, and so on. In fact, a bad credit score is no longer a deal-breaker for getting loan approval.

Therefore, the best solution is to apply to as many lenders as possible. This will increase your chance of getting loan approval, irrespective of whether you have a good or bad credit score.

How Much Money Can I Borrow With a Bad Credit Score?

As a general rule, anyone can borrow up to 200% of their monthly income before taxes. Depending on the lender, the monthly income cutoff can be $800 or $2,000.

So, technically, how much money you can borrow depends on the lender and your monthly income.

What About Loans with No Credit Checks?

Most lenders perform a credit check when you apply for a loan. However, the difference is that some lenders run a “soft check” that has no implications on your credit history, which is the same as no credit checks. Of course, the lenders will pull a hard check, but only after you accept the loan offer.

Some lenders will not approve a loan application unless a hard credit check is performed, which is not ideal.

If you want a loan with no credit checks, look for a lender that does not run a hard credit check before loan approval.

How to Improve Your Credit Score

Improving your credit score is the best way to increase your chances of getting loan approval. A good credit score is great for your overall financial health, too.

So, here are the top tips to improve your credit score:

  • Consolidate your credit card balances. Consolidating your debts into a single credit card is a neat way to improve your score effectively, especially if they fall under the 30% range. This works because credit agencies keep an eye on the balances of your credit cards. So consolidating the debts reduces the amount of pressure on your cards.
  • Make payments before the due date. Instead of clearing the payments at the end of the month, find out when the credit card companies make a report to the credit bureaus and pay on that day or a day before. In addition, if you make substantial payments all at once, this will improve your credit score even more.
  • Diversify your credit cards. Another proven way to improve your credit score is to get up to three credit cards. However, try to maintain a zero balance on all cards but one. And on that card, keep the balance well under 10%.


A bad credit score is detrimental to the financial situation and overall quality of life. So improving it with the tips in this post is a great start.

If your credit/FICO score is less than stellar at the moment, you can still get $10,000 without a lot of problems. So, don’t let the low numbers deter you from applying for one.


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