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Barclays personal loans review

Fixed rates from 4.99% to 20.99% — but only for applicants with an invitation.’s rating: 4.25 / 5.0


  • Best for creditworthy applicants who received an invitation to apply.
  • Pick something else if you want to borrow more than $35,000.
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Max. Loan Amount

4.99% to 20.99%



Minimum credit score


Min. Loan Amount$5,000
Max. Loan Amount$35,000
APR4.99% to 20.99%
Interest Rate TypeFixed
Minimum credit score700
Loan term3 to 5 years
Turnaround TimeA few business days

Review by

Anna Serio is a trusted lending expert and certified Commercial Loan Officer who's published more than 1,000 articles on Finder to help Americans strengthen their financial literacy. A former editor of a newspaper in Beirut, Anna writes about personal, student, business and car loans. Today, digital publications like Business Insider, CNBC and the Simple Dollar feature her professional commentary, and she earned an Expert Contributor in Finance badge from review site Best Company in 2020.

Expert review

Barclays personal loans are ideal if you received an invitation to apply in the mail. They come with no fees, relatively low rates and the option to choose your due date.

But you’re not guaranteed approval — even if you did get an invitation. And it only offers loans up to $35,000.

If you need more funds than Barclays offers or don’t meet its credit requirements, you might want to compare your other personal loan options.

First, am I eligible?

To be eligible for a Barclays personal loan, you must have a credit score of at least 700 and have received a letter that invites you to apply. Barclays largely bases prequalification on your credit score, although other factors like your monthly housing expenses and income also play a role.

Barclays personal loans are invitation-only

As of June 2019, Barclays has reverted its personal loan offer to be invitation-only again.

Barclays launched its personal loan offer to individuals that received an invitation letter in the mail with a code to apply. Then the lender opened it up so that anyone could apply as long as they met Barclay’s credit criteria.

However, it has decided to revert back to invitation-only. Check the Barclays personal loans site for the information on when they’ll reopen its application, or consider alternatives if you haven’t received an invitation.

If you receive a letter inviting you to apply for a loan, you’re already prequalified and can apply using your invitation code. Keep in mind that prequalifying doesn’t mean you’re guaranteed approval.


  • No application, origination or late fees
  • Competitive rates ranging from 4.99% to 20.99%
  • Choose your payment due date
  • No checking account required


  • Invitation-only for borrowers with good to excellent credit
  • Minimal borrower reviews
  • Low maximum loan amount

Compare more personal loan options

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Name Product Filter Values APR Minimum credit score Loan amount
Best Egg personal loans
8.99% to 35.99%
$2,000 to $50,000
A prime online lending platform with multiple repayment methods.
Upstart personal loans
6.5% to 35.99%
$1,000 to $50,000
This service looks beyond your credit score to get you a competitive-rate personal loan.
4.98% to 35.99%
Poor to excellent credit
$1,500 to $100,000
Achieve personal loans
7.99% to 29.99%
$1,000 to $50,000
Consolidate debt and more with these low-interest loans. Cosigners welcome.
Upgrade personal loans
7.96% to 35.97%
$1,000 to $50,000
Affordable loans with two simple repayment terms and no prepayment penalties.
LightStream personal loans
5.99% to 23.99%
Good to excellent credit
$5,000 to $100,000
Borrow up to $100,000 with low rates and no fees.

Compare up to 4 providers

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BBB accredited No
BBB rating A+
BBB customer reviews 1.15 out of 5 stars, based on 121 customer reviews
Trustpilot Score 1.4 out of 5 stars, based on 3,914 customer reviews
Customer reviews verified as of 19 October 2020

Although not all of Barclays’ reviews mention its personal loan products, many people ran into problems with the customer service team. A few others were upset that they were required to submit so much information by mail, including copies of their driver’s license and Social Security card.

How do I apply?

Follow these steps to apply for a Barclays personal loan online:

  1. Go to the Barclays website listed on the invitation you received to apply.
  2. Enter your invitation code to begin the application.
  3. Follow the directions to complete the application with your basic personal and financial information to get your rate based on a soft credit pull that doesn’t affect your credit score.
  4. Like your rate? Continue with the application, uploading any required documents.
  5. Submit your application and wait for a response from Barclays.

What information do I need to apply?

To apply for a personal loan from Barclays, you’ll need to have a few basic pieces of information ready:

  • Invitation code
  • Proof of income
  • Proof of residence

What happens after I apply?

If approved, review your loan amount and monthly repayments. If everything looks good, sign and submit your loan documents.

It typically takes a few business days for you to get your loan funds. You can choose to have your funds sent to your checking or savings account. Or if you’re looking to consolidate credit card debt, you can have Barclays directly pay off up to five credit card balances.

How do repayments work with Barclays?

Barclays allows you to choose your payment due date upon receiving your funds. You then have two options to make repayments: Sign up for autopay or log in to your account each month to pay online. To save yourself time and the mental space to remember your repayments, consider signing up for autopay. You can always log in and make extra repayments.

Barclays doesn’t charge late fees, but that doesn’t mean being late won’t cost you. That’s because your interest continues to add up based on your loan principal. Your loan will cost more in the end if you don’t pay on time. Barclays doesn’t charge prepayment penalties, so you can save on interest by paying off your loan early.

Have any questions? You can reach out to customer service by calling 866-951-1416. If you’re abroad, you can also reach customer service by collect-calling 302-255-8888.

Didn’t receive an invitation? Compare your other options with our guide to personal loans.

Frequently asked questions

Personal loan ratings

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★★★★★ Subpar
★★★★★ Poor
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