A 369 credit score falls in the poor range on the standard 300 to 850 FICO scale, which means you may struggle to get approved for most loans and credit cards, but it does not automatically rule you out: some lending platforms like Upstart weigh your income and employment history alongside your score, so a loan for bad credit may still be available.
Can I get a loan with a 369 credit score?
You may be able to qualify for certain types of loans depending on your other qualifications such as income and employment. However, lenders tend to look at borrowers with poor credit scores as high-risk, and even if you can get approved, you’ll likely have to pay higher fees and interest rates relative to borrowers with higher credit scores.
What may still be available at a 369 credit score:
- Personal loans. Some lending platforms look at more than your credit score. Expect rates at the higher end of any lender’s range.
- Personal lines of credit. It’s typically harder to qualify for unsecured loan at this credit tier, but a smaller revolving line may be easier to manage than a large lump-sum loan, since you only draw what you need.
- Secured loans. Offering collateral, such as a vehicle, gives a lender more to work with.
- Credit union loans. Membership-based lenders are often more flexible on score than large banks.
What is generally out of reach until your score improves:
- Traditional credit cards. With a 369 credit score, you may be unlikely to get approved for a traditional credit card.
- Conventional mortgages. The lending standards of both Fannie Mae and Freddie Mac require a minimum credit score of 620.
Can I get a loan through Upstart with a 369 credit score?
Some people with a 369 credit score may still get a personal loan through Upstart. There’s no minimum credit score required to check your rate through Upstart’s platform. The Upstart’s underwriting model looks at more than 2,500 variables3 beyond your FICO score, things like education4 and employment history, so a loan for bad credit may still be available. If you own a vehicle, you may be offered the option of using it as collateral in your personal loan application.
You may still be able to qualify if:
- Your application shows more than your score. Approval depends on your full application, not your credit score alone.
- You own a vehicle. If you own a vehicle, you may be offered the option of using it as collateral in your personal loan application.
Checking your rate won’t affect your credit score1, so there’s no cost to finding out where you stand.
If a personal loan isn’t a fit, or if you aren’t approved, you may consider:
Cash Line™ from Upstart
Cash Line is a revolving line of credit available directly within the Upstart app, designed for smaller, shorter-term needs rather than a lump-sum loan. Cash Line from Upstart may be worth checking for smaller amounts.
Short term relief loan through Upstart
If you’re facing a specific financial hardship, you may also want to look at Short Term Relief Loan through Upstart, a smaller hardship-focused loan option.
What loans and rates are available at a 369 credit score?
With a 369 credit score, you can expect to see personal loan rates of about 26.38% on average, although there are some lenders who may offer you significantly higher or lower rates. Plus, keep in mind that your exact rate will depend on your full application, not your credit score alone. Personal loan rates through Upstart currently range from 6.2% to 35.99%2.
| Credit tier | Average personal loan APR* | Typical 30-year mortgage rate impact | Typical auto loan APR (60 month used auto) |
| 720-850 | 14.48% | 6.64%-6.92% | 6.36%-6.62% |
| 690-719 | 18.82% | 6.95%-7.07% | 7.33%-7.92% |
| 630-689 | 22.61% | 7.07%-7.42% | 7.92%-9.46% |
| 300-629 | 26.38% | N/A | N/A |
Note: Examples are for illustration only. Actual rate, term, and savings will vary based on your credit profile and lender. Rates vary significantly over time with overall market conditions.
Debt consolidation with a 369 credit score
Consolidating several balances into one loan can simplify repayment, but at a 369 credit score the math matters more than usual. Consolidating only helps if the rate you’re offered is lower than what you’re paying now. Compare the APR and remaining term on your existing debt against the APR and term you’re offered before you accept. You can check your rate at Upstart with no impact on your credit score1.
Tips to get emergency cash with a 369 credit score
If you need money quickly, a few things are worth knowing at this credit tier.
- Borrow only what you need. At higher rates, a larger loan typically costs more.
- Be careful with payday loans. They’re widely available at any score, but their costs are typically far higher than a personal loan.
- A line of credit may fit better than a loan. For a small, short-term gap, a personal line of credit such as Cash Line™ is designed for smaller, shorter-term needs rather than a lump sum.
How is your 369 credit score calculated?
While the popular credit scoring models all use the same general information from your credit report, there are important things to know:
- The actual formulas used to calculate your credit score are a well-guarded secret.
- The FICO score is by far the most popular among lenders
The FICO credit scoring formula takes five different categories of information into account:
- Payment history (35% of your score)
The most important component of your credit score is your payment history. In other words, paying your bills on time every month is the best way to build your credit score over time. - Amounts owed (30%)
The second most important component of your credit score is the amounts you owe. And the most important factors are your credit account balances relative to your credit limits or original loan amounts. - Length of credit history (15%)
In general, the longer your credit history, the better. The formula considers time-related data, such as the time since your oldest account was opened, the average age of your open credit accounts, and the ages of your individual accounts. - New credit (10%)
There are two specific types of information in this category—inquiries and new accounts. The latter is self-explanatory. A credit inquiry happens when you apply for new credit, and a hard credit inquiry is completed. - Credit mix (10%)
Creditors want to know that you can be responsible with different types of credit—not just one or two. For example, if you have a mortgage, auto loan, and credit card, it could be counted more favorably than if you just had one of the three.
How to improve your 369 credit score?
While your credit score isn’t a perfect indicator, the reality is that your financial life can be much easier with an even modest improvement in your score. Building good credit takes time, but you can have a meaningful impact on a low credit score faster than you may think. Here are some steps to bring your credit score up:
1. Assess the damage and check for errors
The first step is to check your credit reports. You should do this regularly if you have bad credit or not. Consumers are entitled to a free copy of their credit reports from each of the three major credit bureaus once a year, and you can request yours at annualcreditreport.com.
There are two things you need to do.
- First, check for errors. Over one-third of credit reports contain at least one error, and in many cases, these errors can adversely affect your score.
- Second, read through your credit report to determine why your score is low. Do you have missed payments? Charged-off accounts? Foreclosures? Judgements?
2. Do some damage control
Adverse information typically stays on your credit report for seven years. But that doesn’t mean you can’t do some credit repair to your bad credit score in the meantime. You might be surprised what you can accomplish.
For example, if you have a delinquent credit account, try calling your credit card company or the collection agency to see what can be done. It’s not uncommon for a creditor to agree to delete a negative item in exchange for payment in full. If you have late payments on your record, see if the creditor will stop reporting them after a certain number of on-time payments.
The point is that the worst thing they’ll say is “no.” And if they’re willing to work with you, it could have a positive impact on your credit score. And if you’re not comfortable making these calls yourself, there are some excellent non-profit credit counseling services that can help on your behalf and can also provide assistance with debt consolidation and budgeting.
3. Get a secured credit card
One of the most effective ways to establish or repair your credit is to start establishing a good payment history. And one way that’s available to all consumers (even with a low credit score) is a secured credit card.
You’ll need to place a deposit equal to your card’s credit limit, but once you do, it works just like a standard credit card—including regular reporting of your payment history to each credit bureau. You might be surprised at the impact even a few months of responsible use of a secured credit card can have.
Frequently asked questions about 369 credit score
Is a 369 credit score good or bad?
A 369 credit score is generally considered to be poor credit, although there’s no formal cutoff and different lenders have different definitions of good credit scores.
What loans can I get with a 369 credit score?
The loans you can get with a 369 credit score depend on your income, employment history, and several other factors, as well as the lender’s specific underwriting standards.
Can I get a personal loan through Upstart with a 369 credit score?
Upstart’s model doesn’t have a fixed minimum credit score requirement in most states, so it may be possible to get approved with a369 credit score.
How much can I borrow with a 369 credit score?
The amount of money you can borrow depends primarily on your income and other monthly debt obligations, not on your credit score. The main factor influenced by your credit score is whether you get approved, and the interest rate you’ll pay.
What rate can I get with a 369 credit score?
The rate you can get with a 369 depends on several factors, including the type of loan, the lender’s rate range, the overall rate environment, and other personal factors such as your employment history.
Do I need a minimum credit score to get a personal loan?
Some personal loan providers have minimum credit score requirements, but not all of them do. Some platforms, like Upstart, will consider many other factors in addition to your credit score to form a complete picture of your creditworthiness.
Can I get an auto loan with a 369 credit score?
Your 369 credit score may qualify you for an auto loan, however you may have a relatively high interest rate.
Can I get a mortgage with a 369 credit score?
It’s highly unlikely you’ll qualify for a conventional mortgage with your credit score. The lending standards of both Fannie Mae and Freddie Mac require a minimum credit score of 620. It is possible to qualify for an FHA loan with a credit score as low as 500, although borrowers without a FICO Score of at least 580 need to put 10% down. Home purchase mortgages aren’t offered through Upstart, but HELOC is available through Upstart Home Lending.
Can I get a credit card with a 369 credit score?
With a 369 credit score, you’re unlikely to get approved for a traditional credit card. Having said that, there are a couple of options. You can be added as an authorized user on someone else’s credit card. Alternatively, you can apply for a secured credit card, which typically requires a deposit equal to your credit limit.
Will checking my rate through Upstart affect my credit score?
No. Checking your rate though Upstart is a soft inquiry which will not affect your credit score1. If you accept your rate and proceed with your application, we do another (hard) credit inquiry that will impact your credit score.
