Best Bad-Credit Loan Lenders in Hawaii
To help you find the best loans for bad credit in Hawaii, MoneyGeek looked at over 30 key factors that can impact your loan experience. These include credit score requirements, repayment terms, loan amounts and APR ranges.
When deciding which bad-credit loan provider is ideal for you, it's important to weigh the pros and cons. For example, some lenders may have restrictions on how you can use the money you borrow, while others may charge prepayment or origination fees.
Best Overall Bad-Credit Loan in Hawaii: Upstart
- Upstart
- 3.22% to 35.99%APR Range
- 300Minimum Credit Score
- $1,000 to $50,000Loan Amount Range
- 36 to 60 monthsRepayment Terms
- Next DayTime to Receive Funds
Runner-Up for Best Bad-Credit Loan in Hawaii: Upgrade
- Upgrade
- 5.94% to 35.47%APR Range
- 560Minimum Credit Score
- $1,000 to $50,000Loan Amount Range
- 36 to 60 monthsRepayment Terms
- Same DayTime to Receive Funds
How to Choose the Best Bad-Credit Loan in Hawaii for You
Personal loans can be used for a wide variety of reasons, including paying off existing debt, making large purchases or covering unexpected expenses. In Hawaii, the typical borrower has $13,131 worth of personal loans to repay.
If you have bad credit, it might be more difficult to obtain a loan, but it is still doable. We've outlined the steps you need to take to get the best bad-credit Hawaii lender for your needs.
Ask Yourself the Important Questions
Before you start looking for bad-credit loans in Hawaii, you should ask yourself the following questions to be sure it's the best course of action:
- How much money do you need?
- Do you meet the credit score requirement?
- Can you pay the monthly payments on time?
- Is your level of debt manageable?
- Do you have more cost-effective ways to finance your expenses?
Do Your Research
A personal loan is a long-term financial commitment, so it's important to shop around and select the best lender for your specific needs. Although MoneyGeek's guide features the top bad-credit Hawaii loan providers, you may want to explore other options since our suggestions are based on a general borrower profile. Pay close attention to the loan amounts, interest rates and fees offered by each lender as you conduct your search.
Read the Fine Print
It is easy to overlook the small details when researching lenders, so make sure you read the fine print. You should check if your preferred lender has any fees associated with the loan application or early payments. For greater savings, find out if there is a discount for setting up automatic payments. Even though the fine print can be overwhelming, taking the time to review it can save you money.
Wait
Once you've made a choice, wait for one or two days before finalizing your application. This will ensure that you don't make a choice you regret. Think through if this is the right option for you financially or if you can pursue a different funding option for your financial needs.
Apply
Once you have determined the lender you want to use and completed the other steps, you can submit an application for a loan. Lenders typically require proof of ID, income and proof of address, so gather those documents before you apply. If you don't want to wait around for your loan to get approved, be sure all of the information you submit is correct.
If you'd rather not apply in person, you can apply for an online loan. Most lenders will allow this. However, if your lender accepts in-person applications, this can be a great way to submit a loan since you can get your questions answered as you go through the application process.
What to Do if You Can’t Get a Bad-Credit Loan in Hawaii
A loan rejection can be upsetting, especially if it prevents you from paying off debt or other important expenses. However, there are some measures you can take.
If you want to know why you were turned down for a loan, you can contact the loan company. You may not have been approved due to a poor credit score or an inadequate income. You could try revising your application to see if it improves your chances of approval by requesting a smaller loan amount or decreasing the requested payback period.
If you need to apply with another lender, MoneyGeek advises you to address the problems that led to your initial rejection before sending in a new application. This is because another hard credit check can hurt your credit score.
When looking for a personal loan, you should be skeptical of payday loans. Faster access to funds can come with higher interest rates and shorter repayment terms, hurting your finances in the long run.
Calculate Your Monthly Payment
Before applying for a loan, keep in mind that you'll need to repay it with interest. You can use MoneyGeek's personal loan calculator to get an idea of what your monthly payments may look like so you can ensure your budget can support a loan payment.
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FAQs About Bad-Credit Loans in Hawaii
When looking for a personal loan, you need to think carefully about several factors. We’ve answered some frequently asked questions about bad-credit loans in Hawaii.
Methodology
MoneyGeek looked at more than 30 personal loan lenders and used at least 35 different metrics to draw comparisons in six key areas, including loan affordability, ease of access, quality of customer service, flexibility and lender transparency.
Within each ranking category, we prioritized data points that we think are most vital when choosing a loan provider for your needs. Some examples include APR ranges, available loan amounts, minimum credit score, minimum income and application fees. Other factors that we consider include business ratings, payment options, mobile apps and whether prequalification is offered.
Our personal loan suggestions and tips are designed to assist you in choosing a lender that meets your unique financial needs.
sources
- Upgrade. "What Is an Origination Fee?." Accessed November 2, 2022.
- Upstart. "What Fees Am I Charged?." Accessed November 2, 2022.
The content on this page is accurate as of the posting/last updated date; however, some of the rates mentioned may have changed. We recommend visiting the lender's website for the most up-to-date information available.
Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, lender or other entity. Learn more about
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