There are five categories of credit scores: excellent, good, fair, bad, and very poor. A fair score is the situation between a good and bad credit score. When your score is between 721 and 880, it is called a fair credit rating. There are good and bad credit loans, but fair credit score loans also exist. These are available to people falling in this category.
If your credit score is fair, you can borrow money through customised deals at low interest rates. This facility is for the short term and meets your instant and temporary financial requirements. Direct lenders provide such loans through a speedy approval policy. This is because the ultimate aim of the loans is to give money to the borrowers when needed.
We at Widelyfinance provide loans for fair credit that are planned according to your financial conditions. The money is disbursed within one hour and a maximum of 24 hours. We verify the financial details you provide to us online and offer you a tailor-made deal. Our loan interest rates are competitive but affordable.
You can repay the loan as quickly as you avail it. Are you still waiting? Apply now and get your money.
Like bad credit and good credit score loans, which have many benefits, fair credit score loans have their special place. Read below to know what aspects of financial life loans for fair credit rating can benefit you. Once you are convinced, we can start processing your loan application too.
Speedy funds conveniently
Financial conditions can take an unexpected turn, creating the need for money. You can handle any problem if you get funds on time according to your credit score. You can borrow money on the same day with a fair credit score. This is due to the liberal and borrower-friendly culture of direct lending. Money received on time is valuable; otherwise, help received after the right time is useless.
Improve credit rating
Repayments of loans for fair credit scores are affordable due to the low rate. You can quickly pay off the entire loan within the decided duration. If your financial situation permits, you can repay your loan in time by making free payments. In both situations, your credit score will improve from the fair credit category to a good credit score, which will help in your future financial decisions.
Extended limits for existing customers
If you avail funds again from the same lender, you get the benefit of an extended loan amount limit and lower interest rates. Finance companies keep pre-analysed offers for existing customers. The loan companies offer deals on the best loans for fair credit to customers with a good repayment history. Widelyfinance prioritises the convenience of its existing customers.
Available for individuals and businesses
You do not need to mention any particular purpose while borrowing money. Whether for personal requirements or business, these loans are available for all borrowers. The loan amount can be used for any purpose without any restriction. The most significant advantage of such short-term loans is that instant funding is available without explanation.
No guarantor required
You do not need to bring a guarantor to get a loan. Apply for loans for fair credit with no guarantor and you will get the money soon through a speedy process. We do not demand a guarantor even in case of poor credit loans. In such a situation, a fair credit score is better for availing funds. As long as you are not applying for any long-term loan, you do not need to worry about a guarantor.
Our customer support team receives many such calls in which fund seekers do not know the difference between a bad credit score loan and a fair credit score loan. Some think both are the same, while others believe low-rate deals are possible only with fair credit score loans.
If you are also confused, the comparison given below will clarify the difference between a bad credit score and a fair credit score.
| Fair credit score | Bad credit score |
|---|---|
| Fair credit score range is 721 – 880. | Bad credit score is 561 – 720. |
| Fair credit score loans are not applicable to people with low credit scores. | People with low credit scores cannot apply for fair credit score loans. |
| You achieve a good credit score when your fair credit score improves. | You reach a fair credit score after improving your bad credit score. |
| Loans for fair credit have lower interest rates as the borrower’s credit score is better than a bad one. | Bad credit score loans are a bit higher in interest rates as the lenders bear a higher risk. |
Now you have clearly understood the difference. You will never again be confused about whether you are applying for the right loan when taking one. There is a different loan for bad credit scores and a different loan for fair credit scores.
In both situations, due to affordable repayment, you can quickly improve your credit score if you apply with us.
We have emerged as a responsible lender in direct lending. Over the years, we have provided loans to thousands of borrowers for their short-term and last-minute financial needs. Therefore, we have a long list of loyal customers.
Our borrowers trust us due to some unique features of our lending policies. You should also trust us and choose us if you plan to get loans for fair credit from direct lenders. The points below will explain why we can be a better option for you.
Speedy and transparent process
There is nothing slow or hidden in our online loan solution, and we follow the same rule. Our loan procedure is fast. Also, the borrower always knows at what stage his loan application is. To build trust, it is important that we do not make the borrower feel insecure in any way. After all, every fund seeker comes to us for financial relief.
Guaranteed approval
Our eligibility rules are quite simple, which means most borrowers qualify for the loan. As a result, we are able to implement the idea of guaranteed approval. If you are a fair credit borrower and your repayment situation is strong, you can be assured of getting fair credit loans on guaranteed approval. We always work on customer-oriented strategy which gives more flexibility to fund seekers.
No credit check
Through the no credit check facility, you can borrow money without fear of any search footprint appearing on your financial history. Due to various financial reasons, people do not want any kind of search spot to appear on their financial history. People especially prefer to avoid a credit footprint in case of a short-term installment loans. We provide you with a no or soft credit check facility so that you can borrow money with mental peace.
Personalised Deals
Every person’s financial condition and repayment capacity are different. When you apply for a loan, we do not provide you with the interest rate we have provided to any other customer. Your loan deal will be planned only according to your financial condition. Therefore, you can easily pay off the loan, improve your credit score, and say goodbye to money crises.
721-880 comes under fair credit score which allows you to get loans for fair credit score. Don’t forget, credit rating is not the only condition. Your current earnings should have been consistent for the past six months, and you should be able to pay off funds. The stronger your repayment capacity, the faster the approval and the lower the interest rate will be.
The APR for fair credit score loans is 29.9%. Still, there is no one rate applicable to all borrowers. This may be lower if you have a solid financial background. Your recent financial record for the past three months will be checked. The maximum rate will be applied to your repayment plan in bumpy finances. At Widelyfinance, we are quite flexible with rates and repayments.
Missing repayment is not as chaotic as borrowers normally think. If you fail to repay, we don’t apply any penalty immediately. There is a buffer time of one week. Even after that, we prefer to call you to discuss your problems. If you commit to repaying on time in the future, we can even alter your repayment plan.
You have to ensure that your financial condition is sound enough to prove your reliable repayment capacity. Besides, if you are applying to the same lender, you will definitely get a great offer with higher borrowing limit. Strong personal finances are always the best option to get a bigger amount at a higher loan amount limit.