How much money can I borrow with bad credit?
Bad credit can happen to anyone, such as from a medical emergency that might cost much more than you have. You can usually borrow money even with bad credit, but consider the effects of taking on more debt.ConsiderationsGetting a loan when you already have bad credit proves difficult, no matter what. A poor credit score might mean paying “subprime” (higher) interest rates. Scores below 500 may disqualify you for a loan all together.Best OptionA personal loan might be the best option for a borrower with a spotty credit history. Payday loan companies generally do not perform a credit check, but require a social security number and a pay stub.Limits of a Payday LoanIf a payday loan seems like your only option, know that the typical upper borrowing to these hovers around $1,500.Other OptionYou might also look into a secured credit card, which means you put up collateral on the credit line. However, the collateral can vary from the full amount of the credit to a small down payment with year
