highly blue credit card in a pink maze

Personal Loans for Excellent Credit

Credit is built around the concept of someone offering you something – like a good, a service or an asset – and expecting you to pay for it later.

When it comes to types of credit (like personal loans), it’s kind of like a big I-O-U, except you aren’t making a deal with your buddy or a family member.

Who is FICO®: Why it matters

You can qualify for excellent personal loan terms if you have a high credit score.

Different lenders have different scoring requirements, but a great FICO® score usually ranges from 680 to 850.

For the uninitiated, FICO® (Fair Isaac Corporation) is a data analytics company that provides credit scoring services. Think of them as judgmental relatives, except their judgment is based on stone-cold data and insights gathered from the stuff you buy.

You probably know this anyway, but it’s worth a reminder.

You’ve carefully built your credit score over the years, establishing a solid history of paying your bills on time. And the three national credit bureaus (Experian™, Transunion® and Equifax®) have determined that you are a good credit risk.

This puts you in a fantastic position to apply for the best personal loans that are only available to those with excellent credit.

What Perks Can I Get From a Personal Loan With Excellent Credit?

Depending on the lender, if you have excellent credit, you may receive the following benefits:

  • Unemployment forbearance: a lender will allow you to pause payments temporarily while you look for a new job
  • Fee waivers: certain lenders will waive or reduce origination fees (fees taken out when you apply for a loan)
  • Lower interest rates: the better your credit score, the more likely it is you will be offered lower interest rates

Personal Loans for Excellent Credit: A Table of Lenders

MoneyTips scoured the net to find a representative range of lenders who approve borrowers with excellent credit. This isn’t an exhaustive list – and we’re not making recommendations.

We just want to give you an idea of what’s out there.

LenderBest for:Est. APR:Min. Credit Requirement:Term Length:
Discover®Debt Consolidation6.99% APR to 24.99% APR7203 – 7 years
SoFiMember perks (unemployment protection)Starts at 5.99% APR6802 – 7 years
Regions BankUnsecured and secured loans, deposit secured and secured installments4.74% APR to 16.49% APR6701 – 5 years
LightstreamCompetitive rates4.49% APR to 20.49% APR6602 – 7 years
MarcusDebt Consolidation, no fees6.99% APR to 19.99% APR. Reduce your APR by 0.25% with AutoPay6603 – 6 years
Payoff®Debt Consolidation5.99% APR to 24.99% APR6402 – 5 years
ProsperPayment date flexibility5.99% APR to 35.97% APR6403 – 5 years

Don’t worry, there are options out there for those who don’t have top-tier credit scores. It’s worth researching the lenders that will work with you if you fall into that category.

Pick the Right Personal Loan for You: Your Choice

At the end of the day, you are in charge of your financial journey. And if you have excellent credit, the world is your oyster.

Just don’t be shellfish (see what we did there?). 🦀  Pay for your round of drinks when it’s your turn, moneybags.

The Short Version

  • The higher your credit score, the better the personal loan terms you can expect
  • You’ll get the best rates if your credit score ranges from 680 to 850
  • Some lenders offer extra perks that can help protect your finances (ding!)
Back to top of page

You Should Also Check Out…

Our team of financial experts write, review and verify content for accuracy and clarity.