Loans for Bad Credit | Greater Nevada Credit Union

At Greater Nevada, we offer loans for bad credit to help you rebuild your credit and start fresh.

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What is a Credit Building Loan in Nevada?

People with no credit are often discouraged by the idea of applying for a loan with a traditional bank or credit union. Bad credit personal loans often come in the form of payday loans, which do not offer ideal terms and usually come with unreasonably high interest rates. When you work with a local credit union like Greater Nevada, you are offered tools to help you rebuild your credit or establish it in the first place. Why? Because we understand there is more than one way to determine a person’s creditworthiness beyond their credit history. Speak with a Greater Nevada loan consultant to explore our loans and to see how we can get you on the road to financial success today.

Comparing Credit Loans

When seeking a loan with little or no credit, it’s very important to watch for hidden fees, unreasonably high annual percentage rates (APR), unrealistic terms and other predatory practices that could affect your monthly payments and total amount you’ll pay over the life of the loan. Greater Nevada is transparent by offering competitive rates and terms, being upfront with any associated fees and penalties involved with borrowing, and offering support through several free financial wellness resources regardless of your credit history. As a not-for-profit cooperative, our goal is to help more people Live Greater in the communities we serve.

Greater Nevada Membership

Applying for a loan with Greater Nevada is simple, with multiple options for getting started. Learn more about the loan approval process from Greater Nevada below, and you can view our loan rates and terms here.

1. Determine Loan Needs

What do you need to borrow the money for, and how much do you need?

2. Compare Loan Types

Explore Greater Nevada’s variety of loan options. We offer flexible loan terms and competitive rates, but it’s important to note that a challenged credit score could limit term length options.

3. Gather Documents Needed

Required paperwork will vary by loan type, but generally we need to verify your credit history along with your income and residency.

4. Apply for a Loan

Apply in any of the ways that work best for you: online, by phone or even via text for select loans. A loan consultant will follow up after applying, whose goal is solely based on responsible lending practices to find the right option to meet your personalized needs.

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What is bad credit?

While there are many factors that go into a credit score and each case should be looked at individually, it is generally safe to say that a FICO credit score under 600 is considered a bad credit score. To qualify for a personal loan, lenders generally prefer a credit score higher than 600. Note that the higher your credit score, the more eligible you may be for lower interest rates and better loan terms. Interested to see where you stand with your credit report? Members can take advantage of our free My Credit Health feature within Digital Banking offering a powerful one-stop-shop to access your credit score, credit monitoring, credit score simulator, financial tips, and more. All of this without impacting your credit score, and all online.

What’s the easiest loan to get with bad credit?

Every situation is different, so there is no one easy answer to this question. However, Greater Nevada offers a host of resources to help you reform your credit, including the Credit Rebuilder auto loan. Contact us to work with a loan consultant to learn more about your options for your borrowing needs.

What loans can a person with bad credit get?

Often, people with bad credit or no credit turn to payday lenders for money. A word of warning: payday loans often come with unreasonable terms such as high interest rates that only serve to sink people further into debt. We recommend avoiding them if possible. Depending on your credit score, you may be eligible for a loan through Greater Nevada. Contact us to work with a local loan expert, whose goal is solely based on responsible lending practices to find the right option to meet your personalized needs.

Can I get a personal loan with a credit score of 500?

It is not unheard of for someone with a credit score of 500 or less to obtain a loan, but be cautious of those offering high-interest loans. These can often sink a person further into debt, creating an endless cycle. Contact us to work with a loan consultant to see what options could be available.