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Best Personal Loans With A Credit Score Of 700 To 709

Written by Mike Pearson
Updated September 27, 2022

If your credit score is between 700 and 709, you have a good chance of getting approved for a personal loan. Even better, you’ll probably receive a favorable interest rate due to your score.

Personal loans are ideal when you need to finance a large purchase and then pay it off over time. If you choose your loan carefully, a personal loan can even help boost your credit score

The 10 Best 700 Credit Score Personal Loans

A credit score that ranges between 700 and 709 is squarely within the “good” category for both the FICO and VantageScore scoring models. If you fall somewhere in this span, you can usually count on getting approved for a personal loan

Even so, it’s important to research your options.

Here are 10 lenders that offer personal loans to borrowers with good credit scores. 

#1. Lending Tree

Lending Tree is a bit different from other lenders, as it’s not a bank but a loan aggregator. This means it takes your criteria and qualifications and then matches you with a list of potential lenders.


  • Service is free to use
  • Application process is fast, easy, and done online
  • Compare terms from many different lenders at once


  • May be difficult to find loan terms and conditions for certain loans
  • Not all lenders are part of the Lending Tree marketplace

The participating lenders in the Lending Tree network offer personal loans from $1,000 to $50,000. Whether you need to pay off a high-interest credit card or finance a home improvement project, it’s worth taking a look at their menu of offerings. 

#2. LightStream

With an annual percentage rate (APR) capped at 17.29%, LightStream personal loans are an attractive option for people looking for low-interest rates. 

LightStream is a division of SunTrust Bank, which has been in business since 1891. It also offers loan applicants $100 for completing a customer service questionnaire with every approved loan.


  • You can have a co-signer
  • Receive discounts when you sign up for autopay
  • LightStream will beat any competitor rate by .10 percentage points
  • Receive funds as early as the same day as your application
  • No loan fees


  • Asks for a lengthy credit history spanning many different types of accounts
  • Loan amount must be at least $5,000

#3. LendingClub

LendingClub is a loan broker that connects potential borrowers with a pool of investors willing to fund personal loans. In general, LendingClub requires high credit scores, which means people with scores around 700 may not always get approved.


  • Loan amounts between $1,000 and $40,000
  • No prepayment penalties
  • Allows co-signers 


  • Charges a loan origination fee, which is unusual among personal loan lenders
  • Won’t service loans in Iowa or U.S. territories 
  • Late payment fee of 5% of the installment amount or $15, whichever is higher 

#4. Marcus by Goldman Sachs

Marcus, which is the lending arm of Goldman Sachs, is known for its no-fee personal loans. It also received a J.D. Power award in 2019 for having the highest customer satisfaction rate among personal loan lenders. 


  • No loan fees
  • One-time deferred payment option after 12 months of on-time payments 
  • Reports to all three credit bureaus
  • Offers direct payment to creditors for borrowers who want to consolidate


  • Does not allow co-signers
  • Minimum credit score of 700 is required, so borrowers in the 700 to 709 range may pay higher interest rates 

While Marcus doesn’t charge fees for late payments, borrowers are still responsible for any interest that accrues on missed or late payments. 

#5. SoFi

With no fees and competitive interest rates, SoFi is worth checking out if you have good credit. Consumers can borrow up to $100,000 if they qualify. 


  • No loan origination fees or prepayment penalties
  • No late fees for missed or late payments
  • Allows co-signers


  • Minimum 680 credit score is needed to satisfy application requirements, so borrowers in the 700 to 709 cohort may receive better offers from other lenders
  • Can take several days to get access to funds
  • Not available to residents of Mississippi  

#6. Rocket Loans

As the name indicates, Rocket Loans are known for its quick approval process and almost instant access to loan funds. Part of the Quicken Loans and Rocket Mortgage family, Rocket Loans have a solid reputation online.


  • In some cases, get same-day access to funds
  • Borrow up to $45,000


  • Loan origination fee ranging between 1% and 6% of the loan amount
  • No co-signer option  

#7. Happy Money

Happy Money offers personal loans for the express purpose of paying off credit card debt. If you would like to eliminate high-interest credit card debt, Happy Money is a good lender to consider.


  • Does not charge late fees
  • No prepayment penlties 
  • Get access to your FICO score for free
  • Considers borrowers with a minimum 640 credit score, so individuals with scores between 700 and 709 may receive favorable interest rates


  • No co-signer option
  • Origination fee ranging between 0% and 5%
  • Not offered in Massachusetts, Mississippi, Nebraska, Nevada, or West Virginia 

#8. Best Egg

Best Egg’s percentage rates can range from 5.99% all the way up to 29.99%, with APR based on your credit score and other factors. Unlike some lenders, Best Egg charges a loan origination fee.


  • Minimum 640 credit score required, so borrowers falling in the 700 to 709 range have a good chance of being approved
  • Option to borrow up to $35,000 if you qualify, and some borrowers may get approved for loans as high as $50,000
  • Use your loan for just about anything 


  • Loan origination fees can be as high as 5.99%, with higher fees for longer loan terms
  • Minimum loan amount of $6,500 required if you live in Massachusetts
  • Residents of New Mexico and Ohio must borrow at least $5,000
  • Residents of Georgia must borrow at least $3,000

#9. Citizens Bank

Citizens Bank offers personal loans with absolutely zero fees. Borrowers don’t pay application fees, loan origination fees, annual fees, or late fees. 

Citizens Bank also has physical branches in 11 states, which is a nice perk if you like having the option to visit your lender in person. Even if you live in a state without a physical location, Citizens Bank offers loans to borrowers in all 50 states.


  • Borrow up to $50,000
  • No fees
  • Co-signer option


  • Some borrowers say it can take a week or more to receive loan funds
  • APR can be as high as 20.91%

It’s worth noting that personal loans from Citizens Bank are actually serviced by its lending arm known as Citizens One.  

#10. Discover

While it might be best known for its credit cards, Discover also offers personal loans. Borrowers must have a credit score of at least 690, which is a bit higher than other lenders. 


  • No loan origination fee
  • No prepayment penalty 
  • Loan repayment plans up to 7 years, which is unusual among personal loan lenders 


  • $39 late fee for every missed or late payment
  • No co-signer option
  • Maximum $35,000 loan amount
  • Performs hard inquiries when you apply, which can negatively affect your credit score 

Can I Get a Personal Loan with a 700 Credit Score?

Generally, you can count yourself among the “good” crowd if your credit score is 700 or higher. However, a score of 700 isn’t always good enough to qualify for a personal loan.

Every lender has its own qualification requirements. Your credit score is a big factor in determining whether you can qualify for a loan, but most lenders will look at other things, too, including your income, how much debt you have, and whether you have a good mix of credit accounts. 

If you qualify for a personal loan with a 700 credit score, you might pay a higher interest rate than someone with a score of 750 or higher. The good news is you can probably boost your score by making a few changes.

For example, improving your credit utilization could push your score into the “excellent” range. This can pay off, as being part of the select group of borrowers with excellent credit scores means getting the most competitive interest rates on personal loans. 

Choosing a 700 Credit Score Personal Loan: 6 Things to Consider

Whether you need to borrow a little or a lot, a personal loan will impact your credit score. Before you sign, it’s important to find the best fit for your finances and your goals.

Here are six things to keep in mind as you shop for a personal loan. 

1. Interest Rates

For most people, the interest rate is the biggest factor in choosing a personal loan. Rates can vary widely, going from the single digits all the way up to 30% or higher.

Lenders calculate interest rates based on several things, including your credit score. Generally, the better your credit score the less you will pay in interest. 

2. Fees 

Some personal loans come with fees, while others do not. When a loan includes fees, it’s important to run the numbers to determine just how much they will cost you over the life of the loan.

There are also several different types of potential fees, and it’s critical to make sure you know which ones accompany your loan.

  • Loan Origination Fee – This is a one-time fee lenders charge for the work they do processing and distributing your loan. Typically, you will pay this out of the loan itself, so you’re not required to hand over any money upfront.
  • Processing Fees – Some lenders charge a monthly processing fee to administer the loan. 
  • Prepayment Fee – Also known as a prepayment penalty, this is a charge in the event you decide to pay off your loan early. This is a way for lenders to recoup the interest they’ll lose if you end up paying in full before the end of your loan’s term.
  • Late Payment Fees – Lenders may also charge a fee every time you make a payment past the due date.  

3. Repayment Terms 

How long do you plan on repaying the loan? The length of the loan is important, as it dictates how much you will pay each month. 

You’ll find a wide range of available repayment terms, with some loans requiring you to pay in full within 12 months and others stretching up to 84 months (7 years) or even longer. 

Generally, you can expect to pay a lower interest rate for a short-term loan, but the monthly payment will be bigger. Likewise, your interest rate might be higher on a loan with a long repayment period, but the monthly payment might be more manageable.

4. Funding Availability 

Funding availability refers to how quickly you can expect to receive the money you’re borrowing. With online applications and processing, some lenders deliver the funds the same day you apply. 

On the other hand, some lenders take a bit longer. In general, you shouldn’t expect to wait longer than two weeks to receive your funds, and most lenders deliver much sooner than that. 

5. Discounts 

It’s also a good idea to ask about possible discounts. For example, some lenders offer a break on interest if you enroll in their autopay program. 

6. Qualification Requirements 

You’ll find a variety of borrower qualification requirements among different lenders. Some of the items they typically consider include:

  • Credit Score – Lenders will want to know your score, and many will review your credit report to assess what kind of debt you have and whether you pay your bills on time.
  • Income – Most lenders require borrowers to disclose their income.This can be a big factor if you’re a relatively low earner but plan on using a co-signer to improve your chances of getting approved. Some lenders don’t allow joint applications, so be sure to read the fine print if you need to use a co-signer. 
  • Debt-to-Income Ratio – Lenders sometimes determine a borrower’s risk by looking at how much debt they carry versus how much money they earn. They want to know if a person has enough income to cover their loan payments.

Lenders often weigh these criteria differently, so it’s quite possible your income is too low to qualify with one lender but perfectly acceptable to another lender.

If you find that most lenders want to charge you a higher interest rate based on the foregoing factors, you might want to consider a secured personal loan rather than an unsecured loan. 

With a secured loan, you’re required to put forth collateral that helps reduce the lender’s risk. This can be a good way to get a loan with a more favorable interest rate. 

Common Application Requirements for Those with Good Credit

There are no universal application requirements for getting a personal loan, regardless of what kind of credit score you have. Rather, every lender has its own criteria for determining which borrowers pose the least amount of risk. 

However, you should be prepared to divulge certain kinds of information when you apply for a personal loan. 

For example, lenders will want to know your credit score, as this is the biggest factor they use to decide how much interest to charge. 

You should also expect a loan application to ask questions about your income. If you’re using a co-signer, the lender will also want to know how much money that person earns. 

How Much Will a Personal Loan Cost?

Interest rates for personal loans vary. Generally, people with higher credit scores pay lower interest rates.

According to, the average interest rate for someone with “fair to good” credit ranges between 6% and 36%. This is obviously a big span, which shows how much rates can vary depending on an individual lender’s qualification criteria. 

If you can increase your credit score to 740, you can probably qualify for the lowest rates. Borrowers with “excellent” credit scores of 800 or more should have no trouble getting the best interest rates.    

You should also consider whether a loan comes with fees, including an origination fee, processing fees, an annual fee, or late fees. These extra costs can add up, so be certain to take them into account before making a decision.

Do Unsecured Loans Hurt Your Credit?

Generally, an unsecured personal loan shouldn’t hurt your credit and might even help it. If you fall into bad habits, however, any type of credit account can do damage to your credit score. 

3 Ways a Personal Loan Can Improve Your Credit

If you use credit wisely, a personal loan can actually boost your credit score. Here’s how. 

  • Improve Your Credit Mix – Your variety of credit accounts for 10 percent of your credit score. A personal loan can help diversify your mix of credit, which can increase your score.
  • Build a Positive Payment History – Paying your bills on time is one of the best things you can do to improve your credit score. By making on-time payments on your loan, you should see a boost in your score.
  • Help Your Credit Utilization – Your credit utilization is the ratio of how much credit you have available compared to how much you’re currently using. If you use a personal loan to pay off credit card debt, you can improve your credit utilization as long as you keep those cards open.

3 Ways a Personal Loan Can Hurt Your Credit

As with any type of credit, a personal loan can damage your credit score if you make bad financial decisions. A loan application may also count as a hard inquiry on your credit report, which is why it’s best to avoid applying for a bunch of loans all at once.

  • Hard Inquiries – Many lenders do a hard pull of your credit report when you submit a loan application. One or two hard inquiries shouldn’t hurt your credit score, but racking up several at once can drop your score for a few months.
  • Create Debt – To state the obvious, a personal loan is debt. If you can’t handle the monthly payments, there’s a risk you will end up paying late. Even a single late payment can seriously damage your credit score. This is why it’s important to make sure you can afford a personal loan before taking one on.
  • Hurt Your Credit Utilization – Ideally, you should strive to keep your credit utilization below 30 percent. If you take out a personal loan and you also carry a lot of credit card debt, the loan could push you past the 30 percent mark. You can obviously avoid this problem by using the loan funds to pay off high-interest credit card debt. However, not everyone gets a personal loan for this purpose.   

4 Simple Strategies for Improving Your Credit

Improving your credit score will also improve your chances of getting approved for a personal loan. A higher score usually means getting the best deals on interest, which will save you money. 

Fortunately, if your score is already in the 700 to 709 range, it probably won’t take much work to boost your score from “good” to “excellent.” Here are four methods for improving your credit score. 

1. Review Your Credit Report

Before you apply for loans or any kind of credit, you should know where you stand in the world of credit. For this, you need to review both your credit score and your credit report. You’re entitled to receive one free copy of your credit report every 12 months. You can order your report by visiting

Your credit report won’t show your credit score, but you can check your score for free by signing up for the Discover Scorecard. This is a free, no-strings-attached service offered by Discover, and you don’t need to be a cardholder to get access to your score.

Once you have your credit report, you should review it carefully, looking for any errors or misinformation. If you spot a mistake, you should dispute it with the credit bureau.

Believe it or not, 1 in 5 Americans has an error on their credit report. By disputing mistakes and getting them removed, you could boost your score enough to qualify for a low-interest rate on a personal loan.

2. Improve Your Credit Utilization 

Many people are unaware that credit utilization makes up a whopping 30 percent of their credit score. In many cases, you can improve your credit score simply by improving your credit utilization.

There are a few ways to accomplish this:

  • Request more credit from existing lenders
  • Pay down your balances
  • Take on more credit, which increases your available credit
  • Keep current credit cards open, even if you don’t use them

3. Use a Co-signer

If your credit isn’t as healthy as you would like it to be, you can piggyback on someone else’s. For example, asking someone to co-sign a personal loan can help you qualify for a lower interest rate than any you could get on your own. 

4. Be Cautious About Taking on Debt

Not all debt is good debt. Some credit accounts come with hefty fees or unfavorable terms that can compromise your financial health and ultimately hurt your credit score. 

Generally, you should avoid any kind of debt that makes it difficult for you to keep up with household expenses while paying all your bills on time. For example, you shouldn’t take on a short-term, high-interest loan just for the sake of growing your available credit. 


If your credit score falls between 700 and 709, you have a good chance of getting approved for a personal loan. However, it’s important to shop around to make sure you’re getting the best deal.

You should also continue working to improve your credit score, as this will help you qualify for the lowest interest rates and most attractive loan terms.

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Mike Pearson

Mike is a recognized credit expert and founder of Credit Takeoff. His credit advice has been featured in Investopedia,, Bankrate, Huffpost, The Simple Dollar, Reader's Digest, LendingTree, and Quickbooks. Read more.