GoCompare’s Bad Credit Loans aim to help individuals with poor credit histories find suitable lending solutions. Borrowers can access loans from trusted providers, even with less-than-ideal credit. Interest rates are higher due to the elevated risk, but flexible terms and loan amounts between £1,000 and £25,000 (and sometimes more) are available. Eligibility checks will not impact your credit score, making it easier to shop around without consequence.

How to Apply Step-by-Step

1. Visit the GoCompare Bad Credit Loans webpage.
2. Complete the quick eligibility checker.
3. Compare the available loan offers tailored to your situation.
4. Select the loan product that suits your needs and proceed with the application.
5. Provide any required supporting documents when prompted by the lender.

Pros

One clear advantage is the ability to compare loan offers from multiple lenders in one place, saving you time and reducing guesswork. Eligibility checks are soft, so your credit score will remain unaffected during the quote process. Additionally, the panel of lenders includes those specialising in helping applicants with poor credit histories.

Cons

The primary drawback is the higher interest rates attached to bad credit loans. Over time, this can result in paying significantly more in interest compared to standard loans. Loan amounts may also be more restricted if your credit score is particularly low, and some offers may require a guarantor or collateral.

Our Verdict

If you have a poor credit history but need funds for a significant purchase or debt consolidation, GoCompare provides a transparent and user-friendly way to see your options. While the rates can be steep, the platform’s soft search and inclusive lender panel make it a strong contender for those aiming to boost approval chances without damaging their current credit standing.