If you want to find the best Christmas loans to light up your tree this year, check out our list of lenders that offer great rates, flexible repayment terms, and fast funding.
We thoroughly researched many lenders and compared their terms to find the ones that offer the best options. Here are our top picks:
5 Holiday Loans to Consider in 2022
We may earn a commission on sales made from partner links on this page. This doesn’t affect our research and evaluation process. Read our full Affiliate Disclosure. 1. Upgrade
Best Overall
- Long repayment terms (two to seven years)
- Autopay and direct pay discount
- Secured and joint loans
- Fixed rates (7.46%–35.97%)
BadCreditLoans.com
Best for People With Poor Credit Scores
- No application fees
- No credit check when prequalifying
- Easy online application form
- Many potential lenders
Personal Loans
Fastest Funding
- Fast funding (within one business day)
- Flexible repayment terms
- Suitable for short and long term loans
- Free to use
CashUSA.com
Best for Small Loans
- Quick funding
- Loans tailored to your history
- Multiple lenders
- All credit types accepted
LoansUnder36
Best for Short and Long Term Loans
- Flexible repayment terms
- Over 100 affiliate lenders
- No minimum credit score requirement
- Wide range of loan amounts
Comprehensive Holiday Loans Reviews
1. Upgrade
Best Overall
- Minimum credit score requirement: 560
- Loan amount: $1,000–$50,000
- Loan length: 24–84 months
- APR: 7.46%–35.97%
Overview — Upgrade is a reputable lender that offers Christmas loans for bad credit that range between $1,000 and $50,000. You can use these loans to cover all your holiday expenses, from minor home improvements to large purchases.
Loan amounts — Your personal loan amount will be based on your credit profile (credit history, credit score, etc.). While you can get anywhere between $1,000 and $50,000, you’ll usually be limited to $25,000.
On top of that, if you live in Georgia and Massachusetts, you’ll be asked to borrow a minimum of $3,005 and $6,400, respectively. Personal loans also come with an origination fee of 1.85% to 8%.
Loan terms — Upgrade’s Christmas cash loans come with generous repayment terms, ranging from two to seven years.
Credit score requirements — We didn’t find any information about the minimum credit score requirement on Upgrade’s website. However, after contacting the company’s representative, we found out that the minimum FICO score required to qualify for a loan is 560.
Pros
- + Long repayment terms (two to seven years)
- + Autopay and direct pay discount
- + Secured and joint loans
- + Fixed rates (7.46%–35.97%)
Cons
- − Not available in Washington, DC
- − 1.85%–8% origination fee
BadCreditLoans.com
Best for People With Poor Credit Scores
- Minimum credit score requirement: None
- Loan amount: $500–$10,000
- Loan length: 90 days to 72 months
- APR: 5.99%–35.99%
Overview — If you’re looking for Christmas loans with no credit check when it comes to prequalifying, BadCreditLoans.com has got you covered.
Since there’s no explicitly stated minimum credit score requirement, you’ll likely still be able to borrow some cash even if your score is low.
BadCreditLoans.com isn’t a lending company. Instead, it aims to connect borrowers with poor credit to a network of willing lenders.
Loan amounts — You can borrow a minimum of $500 and a maximum of $10,000. However, if you want to get the highest loan amount ($10,000), make sure your score is above 500. On that note, if your score is under 500, you’ll be allowed to borrow only $1,000.
Loan terms — The emergency Christmas loans come with a repayment term of at least 90 days and up to 72 months, depending on the lender. You can also get the loan within one business day.
Credit score requirements — None
Pros
- + No application fees
- + No credit check when prequalifying
- + Easy online application form
- + Many potential lenders
Cons
- − The borrowing limit for people with credit scores of 500 or lower is $1,000.
- − Loan amounts are pretty small.
Personal Loans
Fastest Funding
- Minimum credit score requirement: 580+
- Loan amount: $1,000–$35,000
- Loan length: 90 days to 72 months
- APR: 5.99%–35.99%
Overview — Next, in our holiday cash loan reviews, we have another company that connects borrowers with numerous lenders. Personal Loans offers three types of loans — peer-to-peer, bank, and installment loans.
However, what makes the company unique is that it also provides you with access to tribal loans.
Loan amounts — While you can borrow between $1,000 and $35,000, your loan amount will be based on your credit score, credit history, and ability to pay. You’ll also need to have a minimum monthly income of $2,000.
Personal Loans also offers fast Christmas funds loans (available within one business day). To be eligible for fast cash loans, you must have an active bank account and make over $500 per month. So, if you want to get cash in a flash, put Personal Loans on your list.
Loan terms — Borrowers can take out a personal loan with repayment terms ranging from 90 days to 72 months.
Credit score requirements — For peer-to-peer loans, you’ll have to have a credit score of 600+, while for personal installment and bank loans for Christmas expenses, your credit score must exceed 580.
Pros
- + Fast funding (within one business day)
- + Flexible repayment terms
- + Suitable for short and long term loans
- + Free to use
Cons
- − 1%–5% origination fee
- − You'll be added to the company's mailing list.
CashUSA.com
Best for Small Loans
- Minimum credit score requirement: None
- Loan amount: $500–$10,000
- Loan length: 90 days to 72 months
- APR: 5.99%–35.99%
Overview — CashUSA.com is a reliable company that can connect you with lenders willing to give you small Christmas loans. In just four steps, CashUSA.com will help you find lenders who will work with you even if you have a poor credit score.
One of the main benefits of using CashUSA.com is that your loan request will be sent only to relevant lenders. This ensures a better chance of being approved for a loan and getting the best possible terms.
Loan amounts — CashUSA.com offers loans that start at $500 and go up to $10,000. However, you must make at least $1,000 a month to qualify for one of these loans.
Loan terms — You can choose a loan term between 90 days and 72 months.
Credit score requirements — There’s no explicitly stated minimum credit score requirement. In fact, the company is willing to work with borrowers of all types, including those with bad credit histories.
Pros
- + Quick funding
- + Loans tailored to your history
- + Multiple lenders
- + All credit types accepted
Cons
- − Maximum loan amount $10,000
- − Minimum income requirement
LoansUnder36
Best for Short and Long Term Loans
- Minimum credit score requirement: None
- Loan amount: $500–$35,000
- Loan length: 60 days to 72 months
- APR: Varies according to the lender
Overview — Though LoansUnder36 doesn’t offer loans for Christmas with no credit checks (like many of its counterparts), it’s ideal for people with low credit scores looking for versatile borrowing options and flexibility.
Namely, LoansUnder36 is partnered with more than 100 affiliate lenders, meaning you’ll have many options for repaying your loan.
Loan amounts — LoansUnder36 has various personal loan options with no application fee and no penalty for early repayment. Lenders provide loans ranging from $500 to $35,000.
The application process takes a few minutes, and you can expect to see the funds in your bank in one business day.
Loan terms — LoansUnder36 offers personal loans for Christmas that vary in repayment terms. The average personal loan repayment term is 60 days to 72 months, with most falling somewhere in the middle.
Credit score requirements — None.
Pros
- + Flexible repayment terms
- + Over 100 affiliate lenders
- + No minimum credit score requirement
- + Wide range of loan amounts
Cons
- − Not available in New York, Vermont, West Virginia, or Alaska
- − You may have more difficulty getting approved without a regular income.
How to Find the Best Holiday Loans
Before we venture into the art of searching for Christmas loans online, let’s go through the basics.
What’s a Christmas Loan?
A Christmas or holiday loan is a personal loan you can use to cover your holiday expenses. When you apply for a holiday loan, you get money upfront that you have to pay back over time. The payments are usually fixed and monthly.
The terms of your loan will depend on the lender. However, you’ll get better rates if you have a good credit score.
How to Get a Holiday Loan?
The process of getting guaranteed Christmas loans is similar to getting any other type of loan. You’ll need to fill out an application, which will be reviewed by the lender. If you’re approved, you’ll receive the funds.
However, there are a few things you need to do before applying for a holiday loan:
Do a Credit Check
It’s in your best interest to know your credit score and what information is on your credit report before applying for a loan. Although you can get Christmas loans with bad credit, you’re likely to get a better interest rate if you have a good credit score.
Compare Your Options
Never settle for the first lender you find. Shop around to get the best rates and terms. Most holiday loans come from online lenders and credit unions. Just be aware that, with credit unions, in particular, you’ll need to become a member before officially taking out the loan.
Review Your Budget
The amount you can borrow largely depends on the lender. It usually ranges from $500 to $50,000.
Since monthly payments on these loans can be expensive, make sure you can afford them before you opt for one. Otherwise, you could end up paying overdraft or late payment fees.
Focus on the APR
The best loans for Christmas expenses aren’t always the ones with the lowest monthly payments. You also need to compare the annual percentage rate (APR) and repayment terms.
Most loans come with an APR ranging between 5.99% and 35.99%. When it comes to repayment terms, you can usually choose between 90 days to 72 months.
Conclusion
So there you have it. These Christmas loans reviews offer the best holiday loans to consider in 2022. As you can see, each lender offers different loan amounts and repayment terms, so choose the one that suits your needs the most.
And always remember to review your budget before taking out a loan to avoid any financial stress during the holidays.
We wish you all the best this holiday season!
FAQs
Can I get a holiday loan with bad credit?
Yes, you can. Opt for lenders that accept all credit types and those that don’t have strict requirements for credit scores. Note that people with poor credit may receive loan offers with higher APRs.
What loan can I get instantly?
That would be instant loans or short-term loans. They typically come with small loan amounts and high interest rates and fees.
There are a few types of instant loans — payday or cash advance loans, pawn shop loans or pawn loans, and car title loans or pink slip loans. Instant loans are usually approved within the same day of application.
Can I get a loan to pay for a holiday?
Yes, by opting for a holiday loan. Holiday loans are personal loans that can be used for various holiday-related expenses, such as travel and gifts.
There are many places you can go to get a holiday loan, from credit unions and online lenders to banks (banks may not label these loans as such, but they exist nonetheless).
Interest rates, terms, and application processes vary from lender to lender. While some lenders check your credit score, others don’t consider it at all. The latter usually require higher interest rates, though.
How can I borrow money for Christmas?
Choose a lender that offers holiday loans and fill out the application form. Most lenders will require you to provide the following information:
- Proof that you’re a US citizen or permanent resident
- Proof that you’re at least 18 years old
- A verifiable bank account
- A valid email address
While some lenders might not have strict requirements for Christmas loans, others may request a good credit score and/or regular income.
