Finder makes money from featured partners, but editorial opinions are our own. Advertiser Disclosure

Best personal loans for good credit in October 2022

Top lenders that shine thanks to their competitive rates, minimal fees and unique perks.

Editor's choice: Credible personal loans

Credible personal loans logo
  • Loan range: $1,000 to $100,000
  • Personalized rates in minutes
  • Funds as soon as 1 day
See your rate

A good credit score is a credit score that falls between 670 and 739. If your credit score falls into this range, you may be able to take advantage of competitive rates, minimal fees and extra borrower benefits. To give you the best selection, we narrowed down our list based on each lender’s APR range, fees, overall availability and unique perks.

Our team reviewed over 120 personal loan providers before selecting these lenders. We considered factors such as rates, fees terms, loan amounts and turnaround time. And we also included options for different needs.

Each month, we review this list for accuracy. In October 2021, we removed Alliant Credit Union over its high starting rates for long terms. And we added in Rocket Loans, which can send you funds as soon as the same business day. But for November and December, our picks stayed the same.

Best forLenderAPRMax. loan amount
Doing it allSoFi7.99% to 23.43%$5,000 to $100,000Learn more
Comparing multiple lendersCredible3.99% to 35.99%$600 to $100,000Learn more
Home improvementsLightStreamCompetitive$5,000 to $100,000Learn more
Quick turnaroundRocket Loans5.97% to 29.99%$2,000 to $45,000Learn more
Debt consolidationDiscover5.99% to 24.99%$2,500 to $35,000Learn more
A variety of optionsWells Fargo5.74% to 20.99%$3,000 to $100,000Learn more

Best for doing it all

SoFi personal loans

Finder rating 4.45 / 5 ★★★★★

SoFi is our top pick thanks to its zero-fee loans and competitive APRs. You'll also get access to special perks like job coaching, unemployment protection and networking events to get a leg up in your career. You may also be able to take advantage of its other lending and investment tools at discounted rates.
  • Not available in: Mississippi

Best for comparing multiple lenders

Credible personal loans

Finder rating 4.3 / 5 ★★★★★

If you're not sure where to start, Credible can help. You fill out just one online form to get connected with multiple lenders you might qualify with. And the lenders in its network have rates that start extremely low at just 4.99%. Plus, it's fast — you might be able to get your funds in just one business day.
  • Available in all states

Best for home improvements

LightStream personal loans

Finder rating 4.83 / 5 ★★★★★

LightStream has some of the most competitive rates out there for borrowers with good to excellent credit. Plus, its autopay discount is one of the best around — you can trim 0.5% off your APR by signing up for automatic payments when you apply. LightStream's low rates and high maximum loan amount make it a competitive alternative to home equity financing — without having to use your home as collateral.
  • Available in all states

Best for quick turnaround

Rocket Loans personal loans

Finder rating 3.85 / 5 ★★★★★

A pioneer of online lending, Rocket Loans is one of the fastest financing options out there. You can receive your funds within hours of getting approved — if you sign your loan agreement before 1 p.m. ET. Most lenders require at least one business day to send you the funds. But its rates are nothing to write home about — and all loans come with an origination fee. Save Rocket Loans for when speed is more important than cost.
  • Not available in: Iowa, Nevada

Best for debt consolidation

Discover personal loans

Finder rating 4 / 5 ★★★★★

If you have less than $35,000 in credit card or unsecured personal debt, Discover makes it easy to consolidate it into one monthly payment. It pays off your lenders directly, so you don't have to do the legwork yourself. You'll also receive a free copy of your credit score each month, so you can keep track of your progress of becoming debt free.
  • Available in all states

Best for a variety of options

Wells Fargo personal loans

Finder rating 3.65 / 5 ★★★★★

Wells Fargo offers both secured and unsecured personal loans, as well as lines of credit if you're craving flexibility. Already have an account with the bank? Even better — you can apply online and knock 0.25% off your interest rate thanks to its customer relationship discount.
  • Available in all states

How to choose the best personal loan for you

A good credit score opens up more borrowing options. Although each type of loan differs, you’ll want to look over some universal features to make sure you’re getting the most out of your financing.

  • Interest rate. APR is one of the easiest numbers to compare from lender to lender. Good credit usually means you’ll find lower interest rates, but some providers may offer significantly better rates than others.
  • Maximum loan amount. It’s important to consider how much you actually need to borrow versus how much you can borrow. If you can get more money from a lender but at a worse rate, it may not be worth the extra cost.
  • Loan term. A shorter term leads to lower overall repayment costs but higher payments. On the other hand, you can have lower payments but end up paying significantly more if you opt for a loan with a longer term.
  • Turnaround time. While fast turnaround times are available from some lenders, they may come with added fees or higher APRs.
  • Requirements. Your eligibility is often based on more than just your credit score. Check with providers you’re interested in to make sure you meet all of the base requirements.

What do lenders look for in borrowers with good credit scores?

Beyond your credit, lenders want to see that you have an ability to repay your loan. They will look at your current financial situation: your income and outstanding debts.

When you apply for a loan, the lender will calculate your debt-to-income ratio. This is your income divided by the amount of debt repayments you make each month. If you have multiple credit card payments, a mortgage and a car payment, your debt-to-income ratio will be high. Since so much of your income goes toward debt already, a lender is less likely to approve your application.

On the other hand, if you only have a mortgage and a single credit card payment each month, your debt-to-income ratio will be low. Lenders will view you as a better applicant because you have more disposable income.

Most lenders prefer applicants with a debt-to-income ratio of 35% or less. If you’ve calculated yours and are above this number, hold back on applying for a loan and work on paying off your existing debt instead.

Is my credit score good?

A good credit score generally sits between 680 and 720, but the numbers aren’t as clear-cut as you might think. Even though credit bureaus collect the same information to determine your credit score, there’s enough variance in their algorithms to result in different scores.

The three major credit bureaus — Experian, TransUnion and Equifax — each use their own scoring systems. To make things more complicated, FICO (Fair Isaac Corporation), considered an industry standard by many lenders, is also calculated differently. How each company calculates your credit score remains a trade secret, but most consider your payment history, available lines of credit, the types of credit you have, credit inquiries you’ve made and the years you’ve had ongoing credit as part of the total number.

This means that applying for multiple loans at once can lower your credit score by a few points, which could impact the interest rate you’re quoted on later loan applications. In order to maintain a good credit score, keep your inquiries to a minimum by applying for loans with preapproval and always make your payments on time for the full amount due.

How does my credit score affect my application?

Good credit scores show lenders that you’re able to handle credit and make regular payments. And for many, it’s just a stepping stone along the way to excellent credit. While credit scores aren’t everything, they can significantly affect many areas of borrowing, including the interest rate you’re offered and the total amount you can borrow.

Lenders place a lot of emphasis on your credit score because it’s a reflection of your ability to meet your financial obligations. Higher scores mean higher reliability, which means less risk for the lender. If you’re less of a risk, your interest rates aren’t going to be as high, and you’re going to have a better chance of getting a less expensive loan.

What other types of loans are available to people with good credit?

If you have good credit, the sky is the limit when it comes to the loans you qualify for. You may not get the best rates available, but you should be eligible for a wide variety of loans aside from personal loans, including:

  • Auto loans. With good credit, you may be eligible for a lower interest rate when you buy a new or used car. You can also refinance a current loan for lower rate.
  • Peer-to-peer loans. Lower rates, flexibility, quick turnaround and fewer fees are some of the benefits that come with borrowing from an investor through an online marketplace rather than a traditional bank.
  • Startup loans. When you have good credit and a solid five-year plan, you can fund your new business venture with a loan.
  • Business loans. Already have an established business? Take the opportunity to grow it with a little extra capital. Buy equipment, renovate a storefront or even expand using the funds from a business loan.
  • Debt consolidation loans. If you have open balances in several different places, you may be able to get them all under one loan, possibly with a lower interest rate.
  • Petcare loans. Keep the four-legged, feathered or scaled members of your family healthy with funds to pay vet bills or buy medical supplies.

How can I improve my credit?

Sitting at good credit is fine, but you may be looking to improve your score. Your payment history, how long you’ve held credit, the type of credit you’ve used and the number of credit inquiries you’ve made all affect your score. Here’s how to make them work for you.

  • Pay off open balances. It’s important to close your balances by paying them off before taking out another form of credit, whether that’s a new card or a loan. This will improve your credit and show lenders you’re able to fulfill your financial obligations.
  • Keep open balances low. Once you’ve paid down your balances, try to keep them low. Staying below 30% is the advised threshold by many experts.
  • Have some open balances. Your credit utilization ratio — the amount of credit you have open versus the amount you are currently using — looks better when you’re using less than 30% of your open credit.
  • Avoid opening new accounts. Opening new accounts before you improve your credit score means you’re opening accounts with potentially weaker terms.

Recap: Best personal loans for good credit

  1. SoFi: Best for doing it all
  2. Credible: Best for comparing multiple lenders
  3. Lightstream: Best for home improvements
  4. Discover: Best for debt consolidation
  5. Rocket Loans: Best for a quick turnaround
  6. Wells Fargo: Best for a variety of options

A good credit score can lead to getting better lending opportunities. With better loan terms, interest rates and more loan types available, you can finance bigger projects with confidence. However, taking out any kind of loan is a big financial decision and should be met with a good deal of caution. Do your research, compare personal loan lenders, talk to friends and sleep on it before signing any contracts.

By making sure you’re getting a loan within your budget, you can protect and possibly even improve that credit score you’ve worked so hard to maintain.

More guides on Finder

Ask an Expert

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and Terms of Use.

Questions and responses on are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.
Go to site