Although the average credit score in the USA reached 688 - six points up compared to the previous year, according to the data from Experian - many Americans still struggle to reach the milestone of at least 550-600. 

Those who fail to meet the standards are bound to face higher interest rates or even rejections. Does it mean that getting a loan with a bad credit score is an impossible task? Sure not!

We have prepared several lending options for people who struggle to up their credit score to the fair minimum of 600:

Payday Loans

These are Payday Depot loans that should be covered with your next paycheck. In other words, as soon as the money appears on your account, they are taken as a repayment for the borrowing. The advantage of such a loan is a rather simple approval procedure: usually, the lender asks for minimal documentation and processes the request fast.

Subprime Loans

Typically, subprime loans take place when you are buying a car yet don't have the full sum to cover the costs and can't get any other type of borrowing. The peculiarities of such a debt is a rather extended repayment period, as well as high interest rates. 

Credit Cards

Although people usually need a decent credit score to go overdraft, some cards allow this even if your credit history leaves much to be desired. We are speaking about unsecured credit cards with more lenient requirements. However, this comes at a price: the limits may be restricted, lack of benefits like cash back rewards or airline miles. 

P2P Lenders

Peer-to-peer lenders stand out as you can borrow money for almost any need. Although the rates may be rather high, such type of borrowing boasts fixed rates and doesn't require collateral. 

Loan Aggregators

Loan aggregators are platforms where a number of lenders may help you to get some money. The principle is simple: you fill in an application while the lenders are making offers. You need to find a match, and the money is yours. 

How to Improve Your Credit Score?

If none of these options seems valid for you, then your only option is to increase your credit score. There is a number of tricks for this:

•  Repay your debts - even if you manage to cover small debts, it may improve your credit history. 

•  Opt for debt consolidation - although the sum of the debt is likely to be the same, the interest rate may be less. Therefore, you will repay it faster and improve your state.  

•  Stop taking loans for some time - It's a working method that is especially effective when you are paying back the debts while don't take new ones.  

As you can see, a poor credit score isn't the end of the world. You can always try to improve it or find alternative lenders that will help you in times of struggling.