Loans

Installment Loans for Bad Credit

Who approves low scores, what each one really costs, and how to tell them apart.

By REPLACE WITH REAL NAME, REPLACE — e.g. 8 years covering consumer credit · Reviewed by REPLACE WITH REAL NAME · 2 min read · Updated September 24, 2026

You are on step 5: Subprime installment loans

Advertiser disclosure: we're paid when you apply through some links on this site, and some lenders here are operated by our parent company. Compensation does not change our scores or the order of the cost ladder. How we make money →

What you'll learn

An installment loan spreads repayment over scheduled payments — easier to manage than a payday loan, but the APR can still be several hundred percent.
APRs here run from 34% to 779.97%; on $500 that's roughly $560 versus $2,437 repaid.
Lenders that report to the credit bureaus make the next loan cheaper; loyalty programs lower the cost of staying on this step.

Before you borrow

Cheapest first. Work down only if you have to.

You are on step 5. If a higher step works for you, it's cheaper.

By the numbers

products compared

Check cheaper steps

lowest $500 total above this step

≈ $575 – $2,437

$500 total on step 5

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CreditCube

Short-term installment loans from a tribal lender, with loyalty pricing for repeat borrowers.

Score 5.9

Amounts$100–$500
Term224 days (about 7 months)
SpeedResults within seconds of applying; funds next business day, or within about 30 minutes with Real-Time Funding where supported.

First-loan cost: borrow $500 → 16 payments of about $152 → $2,437 total repaid (779.97% APR)

Expensive credit — 779.97% APR. Try every cheaper step above before you use this.

CreditCube is operated by the same company that operates this site. See how we make money.

Not available to active-duty service members or their dependents (Military Lending Act 36% cap).

Tribal lender, owned by Big Valley Band of Pomo Indians (federally recognized tribe). It operates under tribal law, so state rate caps and some state protections may not apply. What tribal lending means for you →

See rates at CreditCube →Read the full review

Opens the lender's site. We may be paid if you apply.

Availability varies by state.

Last verified September 24, 2026

How to choose an installment lender

Every lender on this page will split your loan into scheduled payments instead of one payday-style lump sum. That's the good news. The rest of the decision is about price, access and what the loan does for you afterwards.

Price. APRs here run from 34% (NetCredit's floor, for its best-qualified borrowers) to 779.97% (a first loan through the house brands). On $500 over seven months that's the difference between roughly $560 and $2,437 repaid. Every card shows the lender's own representative example; compare totals.

Access. The lower the APR, the higher the bar. NetCredit and OppLoans want verifiable income at a level many readers don't meet, and they exclude a dozen states each. Rise lends in 30 states. Possible Finance is in 34. The house brands and Big Picture Loans set the lowest bar — regular income and a checking account — and lend in most states outside the excluded list.

Afterwards. If you'll need to borrow again, two features matter: credit reporting (OppLoans, NetCredit, Rise, Possible) and loyalty pricing (CreditCube and its referral brands, Rise). Reporting helps you move up the ladder over time. Loyalty pricing lowers the cost of staying on this step.

The house brands, plainly

Four of the lenders on this page — CashOtter, CashLantern, MeteorLoans and CreditCube — are operated by the company that operates this site. We say so on their cards. They're on this page because they fit it: no minimum score, decisions in minutes, the full payment schedule shown before you apply, and a loyalty program for repeat borrowers. They're near the bottom of the step because their first-loan APR is the highest here. Both things are true, and you should weigh both.

If the total is too high

Go back a step. A secured card won't help today but changes the next emergency. An app advance covers a smaller gap for almost nothing. And the free-help section exists because half the bills people borrow for have a program built for exactly that bill.

Step 5: Subprime installment loans

Step 5 · Subprime installment loansLower-cost option

NetCredit

Larger, longer installment loans with the lowest APR floor in this group.

Score 6.9

Still an option for

No minimum credit score. Needs a personal checking account and verifiable income.

Amount

$1,000–$10,000

Term

6–60 months

Cost

≈ $1,639 over 6–60 months

Speed

1–3 business days after signing; same-day possible before 7 a.m. CT weekdays.

One honest con

Origination fees in some states; the $1,000 minimum is high for an emergency shortfall.

See rates at NetCredit →Read our review

Opens the lender's site. We may be paid if you apply.

Availability varies by state.

Last verified September 24, 2026

APR: 34%–155%

Representative estimate: ≈ $1,639 over 6–60 months

Expensive credit — 155% APR. Try every cheaper step above before you use this.

Best for

People who need $1,000+ and can qualify for the lower end of 34%–155% APR over 6–60 months.

See the full cost and what you need ↓

Installment loan

$1,000–$10,000

Term: 6–60 months
APR: 34%–155% APR
Payments: Monthly

Origination fee in some states, deducted from proceeds; no prepayment fee Comparison math uses a representative 24-month term; actual terms are 6–60 months.

What you need: 18+ (19 in AL/DE, 21 in MS), personal checking account, email, verifiable income.

Not for: Anyone needing less than $1,000; residents of the 13 states NetCredit doesn't serve.

Not available to active-duty service members or their dependents (Military Lending Act 36% cap).

Step 5 · Subprime installment loans

Possible Finance

Small loans repaid in four installments over eight weeks, reported to two credit bureaus.

Score 7.6

Still an option for

No minimum credit score. Needs a bank account and about $20,000/yr income.

Amount

$50–$500

Term

8 weeks (4 installments)

Cost

$29 a time

Speed

Same day to a debit card; ACH takes 1–2 more days.

One honest con

A flat $15–$25 per $100 fee works out to 98%–163% APR because the term is only eight weeks.

See rates at Possible Finance →Read our review

Opens the lender's site. We may be paid if you apply.

Availability varies by state.

Last verified September 24, 2026

APR: 98%–163%

Representative example: borrow $100 → 4 payments of about $29 → $115 total repaid (98% APR)

Expensive credit — 163% APR. Try every cheaper step above before you use this.

Best for

People who need $50–$500 fast, want installments instead of a lump sum, and want the payments to build credit.

See the full cost and what you need ↓

New customers

$50–$500

Term: 8 weeks (4 installments)
APR: 98%–163% APR
Payments: 4 installments, biweekly

What it costs: borrow $100 → 4 payments of about $29 → $115 total repaid (98% APR)Lender's published example: $100 with a $15 fee = four payments of $28.75. With a $25 fee: four payments of $31.25 (163% APR).

Flat fee of $15–$25 per $100 borrowed

Repeat customers

$50–$1,000

Term: 8 weeks (4 installments)
APR: 98%–163% APR
Payments: 4 installments, biweekly

Flat fee of $15–$25 per $100 borrowed

What you need: $20,000/yr income, SSN, proof of residency and income, US bank account, email.

Not for: Residents of the 16 states + DC where Possible doesn't lend; anyone who can get an app advance for free.

Not available to active-duty service members or their dependents (Military Lending Act 36% cap).

Step 5 · Subprime installment loans

OppLoans

Larger installment loans with monthly payments and credit-bureau reporting.

Score 6.9

Still an option for

No minimum credit score, but you need $1,500/month income with direct deposit and 30+ days on a W-2 job.

Amount

$500–$5,000

Term

9–18 months

Cost

$3,551

Speed

Same or next business day if approved by 12 p.m. CT.

One honest con

Still very expensive — 129%–195% APR — and not available in 11 states/DC.

See rates at OppLoans →Read our review

Opens the lender's site. We may be paid if you apply.

Availability varies by state.

Last verified September 24, 2026

APR: 129%–195%

Representative example: borrow $2,000 → $3,551 total repaid (160% APR)

Expensive credit — 195% APR. Try every cheaper step above before you use this.

Best for

People who need $1,000–$5,000 over 9–18 months and want on-time payments reported to the bureaus.

See the full cost and what you need ↓

Installment loan

$500–$5,000

Term: 9–18 months
APR: 129%–195% APR
Payments: Monthly (due date adjustable)

What it costs: borrow $2,000 → $3,551 total repaid (160% APR)Lender's published example: $2,000 at 160% APR over 18 months costs $1,551 in interest.

No origination fee. In some states the loan is made by a partner bank (FinWise Bank, First Electronic Bank or Quill Bank, formerly Capital Community Bank). Comparison math uses a representative 12-month term; actual terms are 9–18 months.

What you need: 18+, US citizen with SSN, $18,000/yr gross income (can include SS, disability, child support), bank account with direct deposit, W-2 employment 30+ days.

Not for: Gig workers without W-2 income; anyone needing under $500.

Not available to active-duty service members or their dependents (Military Lending Act 36% cap).

Step 5 · Subprime installment loans

Rise Credit

Installment loans that can get cheaper as you repay on time.

Score 6.8

Still an option for

No minimum credit score. Needs $1,000/month after-tax income and a checking account.

Amount

$500–$5,000

Term

7 months – 3 years

Cost

$10,506

Speed

Next business day if accepted by 6 p.m. ET.

One honest con

APR runs 59.80%–299%; origination fee up to 5% in DE, ID, MO, UT, WI.

See rates at Rise Credit →Read our review

Opens the lender's site. We may be paid if you apply.

Availability varies by state.

Last verified September 24, 2026

APR: 59.8%–299%

Representative example: borrow $3,000 → $10,506 total repaid (199% APR)

Expensive credit — 299% APR. Try every cheaper step above before you use this.

Best for

Borrowers in one of Rise's 30 states who plan to repay on time and refinance at a lower rate.

See the full cost and what you need ↓

Installment loan

$500–$5,000

Term: 7 months – 3 years
APR: 59.8%–299% APR
Payments: Biweekly installments

What it costs: borrow $3,000 → $10,506 total repaid (199% APR)Lender's published example: $3,000 at 199% APR over 2 years costs about $7,506 in interest.

Origination fee up to 5% in DE, ID, MO, UT, WI Comparison math uses a representative 18-month term; actual terms are 7 months – 3 years.

What you need: 18+, checking account, email, SSN, job or regular income of $1,000/month ($12,000/yr) after tax.

Not for: Residents of the 20 states + DC where Rise doesn't lend; anyone who can get a sub-36% option.

Not available to active-duty service members or their dependents (Military Lending Act 36% cap).

Step 5 · Subprime installment loansFeatured

CashOtter

Shows the full payment schedule and total cost before you apply.

Referral service — connects you to an affiliated tribal lender; the lender is named in your loan agreement.

Score 6.7

Still an option for

No minimum credit score. Needs regular income and a checking account.

Amount

$200–$500

Term

224 days (about 7 months)

Cost

$152 a time

Speed

Decision in minutes; funds typically next business day.

One honest con

Expensive credit: a first loan costs roughly $2,430 to repay on $500 over 224 days.

See rates at CashOtter →Read our review

Opens the lender's site. We may be paid if you apply.

Availability varies by state.

Last verified September 24, 2026

APR: 259.94%–779.97%

Representative example: borrow $500 → 16 payments of about $152 → $2,437 total repaid (779.97% APR)

Expensive credit — 779.97% APR. Try every cheaper step above before you use this.

Best for

First-time borrowers who want to see exactly what a $200–$500 loan will cost before they commit.

See the full cost and what you need ↓

First loan

$200–$500

Term: 224 days (about 7 months)
APR: 779.97% APR
Payments: Biweekly installments

What it costs: borrow $500 → 16 payments of about $152 → $2,437 total repaid (779.97% APR)Illustrative: 16 equal biweekly payments at the published APR. The lender's Rates & Terms page governs.

Returning customers

$501–$5,000

Term: 224 days (about 7 months)
APR: 259.94%–779.97% APR
Payments: Biweekly installments

What it costs: borrow $1,000 → 16 payments of about $128 → $2,045 total repaid (259.94% APR)Illustrative, at the lowest published returning-customer APR.

Loyalty program lowers rates with payment history

What you need: Age 18+, US resident in an eligible state, regular income, active checking account, valid ID and SSN.

Not for: Anyone who qualifies for a cheaper step on the cost ladder, or who cannot afford ~$150 every two weeks.

Referral service — connects you to an affiliated tribal lender; the lender is named in your loan agreement.

CashOtter is operated by the same company that operates this site. See how we make money.

Not available to active-duty service members or their dependents (Military Lending Act 36% cap).

Step 5 · Subprime installment loansFeatured

CashLantern

Turn the light on before you borrow: APR and total cost shown up front.

Referral service — connects you to an affiliated tribal lender; the lender is named in your loan agreement.

Score 6.7

Still an option for

No minimum credit score. Needs regular income and a checking account.

Amount

$200–$500

Term

224 days (about 7 months)

Cost

$152 a time

Speed

Decision in minutes; funds typically next business day.

One honest con

Expensive credit: 779.97% APR on a first loan.

See rates at CashLantern →Read our review

Opens the lender's site. We may be paid if you apply.

Availability varies by state.

Last verified September 24, 2026

APR: 259.94%–779.97%

Representative example: borrow $500 → 16 payments of about $152 → $2,437 total repaid (779.97% APR)

Expensive credit — 779.97% APR. Try every cheaper step above before you use this.

Best for

Borrowers who have been refused elsewhere and want the cost spelled out before applying.

See the full cost and what you need ↓

First loan

$200–$500

Term: 224 days (about 7 months)
APR: 779.97% APR
Payments: Biweekly installments

What it costs: borrow $500 → 16 payments of about $152 → $2,437 total repaid (779.97% APR)Illustrative: 16 equal biweekly payments at the published APR. The lender's Rates & Terms page governs.

Returning customers

$501–$5,000

Term: 224 days (about 7 months)
APR: 259.94%–779.97% APR
Payments: Biweekly installments

What it costs: borrow $1,000 → 16 payments of about $128 → $2,045 total repaid (259.94% APR)Illustrative, at the lowest published returning-customer APR.

Loyalty program lowers rates with payment history

What you need: Age 18+, US resident in an eligible state, regular income, active checking account, valid ID and SSN.

Not for: Anyone who qualifies for a cheaper step on the cost ladder.

Referral service — connects you to an affiliated tribal lender; the lender is named in your loan agreement.

CashLantern is operated by the same company that operates this site. See how we make money.

Not available to active-duty service members or their dependents (Military Lending Act 36% cap).

Step 5 · Subprime installment loansFeatured

MeteorLoans

Installment loans with scheduled biweekly payments instead of one lump sum.

Referral service — connects you to an affiliated tribal lender; the lender is named in your loan agreement.

Score 6.7

Still an option for

No minimum credit score. Needs regular income and a checking account.

Amount

$200–$500

Term

224 days (about 7 months)

Cost

$152 a time

Speed

Decision in minutes; funds typically next business day.

One honest con

Expensive credit: 779.97% APR on a first loan.

See rates at MeteorLoans →Read our review

Opens the lender's site. We may be paid if you apply.

Availability varies by state.

Last verified September 24, 2026

APR: 259.94%–779.97%

Representative example: borrow $500 → 16 payments of about $152 → $2,437 total repaid (779.97% APR)

Expensive credit — 779.97% APR. Try every cheaper step above before you use this.

Best for

Borrowers who need more than a cash-advance app will give and want installments rather than a single payday-style payment.

See the full cost and what you need ↓

First loan

$200–$500

Term: 224 days (about 7 months)
APR: 779.97% APR
Payments: Biweekly installments

What it costs: borrow $500 → 16 payments of about $152 → $2,437 total repaid (779.97% APR)Illustrative: 16 equal biweekly payments at the published APR. The lender's Rates & Terms page governs.

Returning customers

$501–$5,000

Term: 224 days (about 7 months)
APR: 259.94%–779.97% APR
Payments: Biweekly installments

What it costs: borrow $1,000 → 16 payments of about $128 → $2,045 total repaid (259.94% APR)Illustrative, at the lowest published returning-customer APR.

Loyalty program lowers rates with payment history

What you need: Age 18+, US resident in an eligible state, regular income, active checking account, valid ID and SSN.

Not for: Anyone who qualifies for a cheaper step on the cost ladder.

Referral service — connects you to an affiliated tribal lender; the lender is named in your loan agreement.

MeteorLoans is operated by the same company that operates this site. See how we make money.

Not available to active-duty service members or their dependents (Military Lending Act 36% cap).

Step 5 · Subprime installment loansFeatured

CreditCube

Short-term installment loans from a tribal lender, with loyalty pricing for repeat borrowers.

Score 5.9

Still an option for

No minimum credit score. Needs regular income and an active checking account.

Amount

$100–$500

Term

224 days (about 7 months)

Cost

$152 a time

Speed

Results within seconds of applying; funds next business day, or within about 30 minutes with Real-Time Funding where supported.

One honest con

This is expensive credit. A first loan is capped at $500 and the APR is in the hundreds of percent.

See rates at CreditCube →Read our review

Opens the lender's site. We may be paid if you apply.

Availability varies by state.

Last verified September 24, 2026

APR: 259.94%–779.97%

Representative example: borrow $500 → 16 payments of about $152 → $2,437 total repaid (779.97% APR)

Expensive credit — 779.97% APR. Try every cheaper step above before you use this.

Best for

People turned down by banks and mainstream online lenders who can afford a biweekly payment and want a lender that rewards repayment history.

See the full cost and what you need ↓

First loan

$100–$500

Term: 224 days (about 7 months)
APR: 779.97% APR
Payments: Biweekly installments

What it costs: borrow $500 → 16 payments of about $152 → $2,437 total repaid (779.97% APR)Illustrative: 16 equal biweekly payments at the published APR. The lender's Rates & Terms page governs.

Returning customers

$501–$5,000

Term: 224 days (about 7 months)
APR: 259.94%–779.97% APR
Payments: Biweekly installments

What it costs: borrow $1,000 → 16 payments of about $128 → $2,045 total repaid (259.94% APR)Illustrative, at the lowest published returning-customer APR.

Loyalty tiers by points: Silver up to $1,000 (16% fee discount), Gold $1,500 (33%), Platinum $2,000 (50%), VIP $5,000 (66%).

What you need: Age 18+, US resident in an eligible state, regular income, active checking account, valid ID and SSN.

Not for: Anyone who can get a credit-union PAL, a paycheck-advance app, or an employer advance first — those cost a small fraction of this.

CreditCube is operated by the same company that operates this site. See how we make money.

Not available to active-duty service members or their dependents (Military Lending Act 36% cap).

Step 5 · Subprime installment loans

Big Picture Loans

Tribal installment loans of $200–$3,000 with instant funding when available.

Score 6.2

Still an option for

No published minimum score. Needs regular income and a bank account.

Amount

$200–$3,000

Term

12 months

Cost

$159 a time

Speed

Real-time funding attempted (including weekends); otherwise next business day by ACH.

One honest con

Very expensive: 395%–699% APR for new customers, 160%–699% returning. 12-month term multiplies the cost.

See rates at Big Picture Loans →Read our review

Opens the lender's site. We may be paid if you apply.

Availability varies by state.

Last verified September 24, 2026

APR: 160%–699%

Representative example: borrow $1,000 → 26 payments of about $159 → $4,130 total repaid (395% APR)

Expensive credit — 699% APR. Try every cheaper step above before you use this.

Best for

People who need money the same day and have been refused by state-licensed lenders.

See the full cost and what you need ↓

New customers

$200–$3,000

Term: 12 months
APR: 395%–699% APR
Payments: Biweekly installments

What it costs: borrow $1,000 → 26 payments of about $159 → $4,130 total repaid (395% APR)Lender's published example: 25 payments of $158.88 and a final payment of $157.92.

Returning customers

$200–$3,000

Term: 12 months
APR: 160%–699% APR
Payments: Biweekly installments

What you need: Regular income meeting the lender's minimum, bank account, valid ID and SSN.

Not for: Anyone who qualifies for a cheaper step; anyone uncomfortable with tribal-jurisdiction dispute rules.

Tribal lender, owned by Tribal Economic Development Holdings, LLC — Lac Vieux Desert Band of Lake Superior Chippewa Indians. It operates under tribal law, so state rate caps and some state protections may not apply. What tribal lending means for you →

Not available to active-duty service members or their dependents (Military Lending Act 36% cap).

Side by side

Compare amounts, timing, costs and availability in one place.

Lender	Amounts	Term	APR or fees	Speed	Score	Available in your state
NetCredit	$1,000–$10,000	6–60 months	34%–155% APR	1–3 business days after signing; same-day possible before 7 a.m. CT weekdays.	6.9	Varies
Possible Finance	$50–$1,000	8 weeks (4 installments)	98%–163% APR	Same day to a debit card; ACH takes 1–2 more days.	7.6	Varies
OppLoans	$500–$5,000	9–18 months	129%–195% APR	Same or next business day if approved by 12 p.m. CT.	6.9	Varies
Rise Credit	$500–$5,000	7 months – 3 years	59.8%–299% APR	Next business day if accepted by 6 p.m. ET.	6.8	Varies
CashOtter	$200–$5,000	224 days (about 7 months)	259.94%–779.97% APR	Decision in minutes; funds typically next business day.	6.7	Varies
CashLantern	$200–$5,000	224 days (about 7 months)	259.94%–779.97% APR	Decision in minutes; funds typically next business day.	6.7	Varies
MeteorLoans	$200–$5,000	224 days (about 7 months)	259.94%–779.97% APR	Decision in minutes; funds typically next business day.	6.7	Varies
CreditCube	$100–$5,000	224 days (about 7 months)	259.94%–779.97% APR	Results within seconds of applying; funds next business day, or within about 30 minutes with Real-Time Funding where supported.	5.9	Varies
Big Picture Loans	$200–$3,000	12 months	160%–699% APR	Real-time funding attempted (including weekends); otherwise next business day by ACH.	6.2	Varies

How we scored these →

Next on the ladder

Compare nearby steps

Move up if you can qualify for a cheaper option; move down only if you need to.

Next: Secured & bad-credit cards →Next: Payday loans →

Questions people ask

Plain answers to the questions readers ask most often.

What is an installment loan?

A loan you repay in scheduled payments — usually every two weeks or monthly — over a set term, instead of one lump sum on your next payday. The structure is easier to manage than a payday loan, but the APR can still be very high.

Why are the APRs so different from lender to lender?

Because the lenders serve different risk levels and operate under different rules. State-licensed lenders like NetCredit and OppLoans are bound by state rate caps in the states they serve; tribal lenders operate under tribal law and often charge far more. Always compare the total you'd repay, not just the payment.

Will an installment loan build my credit?

Only if the lender reports your payments to the credit bureaus — OppLoans, NetCredit, Rise and Possible do. Each card says whether a lender reports.

What happens if I miss a payment?

You'll usually be charged a late fee and the lender may retry the withdrawal, which can trigger overdraft fees at your bank. Call the lender before the due date — many will move a payment once. Our guide on what happens if you can't pay explains your rights.

Which house brand?

Compare the product family

CashOtter, CashLantern, MeteorLoans are referral brands that show the full schedule before you apply. CreditCube is the lender itself.

CashOtter

Referral brand; full schedule shown before you apply.

Availability varies by state.

CashOtter is operated by the same company that operates this site. See how we make money.

CashLantern

Referral brand; full schedule shown before you apply.

Availability varies by state.

CashLantern is operated by the same company that operates this site. See how we make money.

MeteorLoans

Referral brand; full schedule shown before you apply.

Availability varies by state.

MeteorLoans is operated by the same company that operates this site. See how we make money.

CreditCube

Lender in the same product family.

Availability varies by state.

CreditCube is operated by the same company that operates this site. See how we make money.

Keep comparing

Three useful next stops before you choose a lender.

GuideTribal loans explained Free help211 and emergency assistance CalculatorLoan-cost calculator

Sources

Figures were checked against these sources on September 24, 2026.

12 CFR 701.21(c)(7) — Payday Alternative Loans (eCFR) ↗ ecfr.gov
CFPB — What are the costs and fees for a payday loan? ↗ consumerfinance.gov
CFPB — Military Lending Act ↗ consumerfinance.gov

Last verified September 24, 2026