Ask AI: What loan can I get with 480 credit core

Having a credit score of 480 is considered as poor, and it can make it difficult to get loan approval from most traditional lenders or large financial institutions. However, you still may have some options: 1. Payday or Cash Advance Loan: These are short-term loans that generally require no credit check. However, they come with extremely high-interest rates. 2. Bad Credit Personal Loan: Some lenders specialize in providing loans to individuals with bad credit. However, these often come with higher interest rates as well. 3. Secured Loans: These loans require collateral, such as a car or home equity. If you default on the loan, the lender has the right to claim the collateral. 4. Co-signer Loans: If you have a trusted person with good credit who's willing to co-sign your loan, you might have a better chance of approval for loans. 5. Credit Unions: Credit unions might approve loans for their members even with a lower credit score. However, these options may prove expensive in the long run due to high interest rates and fees. Therefore, one of the best things you can do with a 480 credit score is to work on improving your credit before applying for any loan. Pay your bills on time, lower your debt balances, and avoid new debt. By improving your credit score, you'll be able to qualify for loans with better interest rates in the future. Always ensure to consult a financial advisor before making such decisions.