Can I get a moving loan with a 640 credit score?

Yes, it is definitely possible to get a moving loan with a 640 credit score. This score falls squarely in the 'fair' credit range, and many online lenders specialize in working with applicants in this category. While you may not receive the absolute lowest interest rates reserved for those with excellent credit, you should have access to competitive options. Lenders will also consider other factors like your income and existing debt load.

Will checking my rate for a moving loan hurt my credit score?

No. Using platforms like ours to check your potential rates involves a 'soft' credit inquiry. This type of inquiry does not impact your credit score at all. It allows you to see what loan amounts, terms, and APRs you might qualify for without any risk. A 'hard' credit inquiry, which can temporarily lower your score by a few points, only occurs if you choose a loan offer and proceed with the formal application directly with the lender.

What is a typical interest rate for a relocation loan with fair credit?

For applicants with fair credit scores (roughly 600-670), typical APRs on unsecured personal loans can range from about 12% to 35.99%. The exact rate you're offered will depend on the lender, your specific credit score, your debt-to-income ratio, the loan amount, and the repayment term you choose. Shopping around is the best way to find the most competitive rate for your situation.

How quickly can I get funds for my move?

The funding speed is one of the biggest advantages of online lenders. After you are formally approved and have signed your loan agreement, many lenders can deposit the funds directly into your bank account in as little as one to two business days. This speed is crucial when you have to pay a security deposit or put a down payment on a moving truck quickly.

Can I use a moving loan if I'm starting a new job in a new city?

Yes, many lenders will work with you in this situation. You will likely need to provide a signed offer letter from your new employer that states your start date and salary. This serves as proof of future income, assuring the lender of your ability to repay the loan once you begin your new job. It's a common scenario for relocation loans.

Is it better to use a personal loan or a credit card for moving expenses with so-so credit?

For most people, a personal loan is the better choice for large moving costs. It provides a fixed interest rate and a structured repayment plan, making it easier to budget. Putting a large expense on a credit card can dramatically increase your credit utilization, which can lower your credit score. Credit card APRs are also typically higher and variable, meaning your interest costs could rise over time.

Moving Loans for Fair Credit

Finance your relocation, even with an average credit score, and get the funds you need for movers, deposits, and a fresh start.

Check your rate

Moving is a major life event, full of excitement and logistics. But when you have a fair credit score—typically between 600 and 670—figuring out the financing can add a layer of stress you don't need. You know you can handle the payments, but traditional lenders might be hesitant. This is where a personal loan specifically for moving can be a game-changer, providing the upfront cash to make your relocation smooth and manageable.

Does This Sound Familiar?

My 650 credit score gets me turned down for the best rates.
We partner with lenders who specialize in working with applicants who have average or fair credit, looking beyond just the score.
I need cash for a security deposit *before* I get my old one back.
A moving loan provides a lump sum of cash you can use for any relocation expense, including deposits, rent, and movers.
My credit card limits are too low or the interest is too high for a whole move.
Personal loans often offer higher borrowing amounts and lower fixed interest rates than credit cards, especially for large, one-time expenses.
I'm worried applying for a loan will drop my credit score even further.
You can check your rate through our platform with a soft credit inquiry, which has no impact on your credit score.

Understanding Your Moving Loan Options with Fair Credit

A moving loan is simply an unsecured personal loan used to cover relocation expenses. For someone with a fair credit score, this is a powerful tool. Unlike a credit card, which has a revolving balance and often a variable interest rate, a personal loan gives you a fixed amount of cash upfront. You then repay it over a set period (the term) with a fixed interest rate and a predictable monthly payment. This makes budgeting for your new life much easier.

Lenders who work with fair-credit applicants understand that a credit score is just one part of your financial picture. They'll also look at your income, your employment history, and your debt-to-income ratio to assess your ability to repay the loan. A steady job and a reasonable amount of existing debt can significantly improve your chances of approval and help you secure a more favorable interest rate, even with a score in the mid-600s.

Example scenario

I thought my credit score would be a problem, but I got a fair rate and was able to pay the security deposit and movers without maxing out my credit cards. It was a huge relief.

Alex R.·Recently relocated with a 660 credit score

Get Your Moving Funds in 3 Simple Steps

1
Complete a Short Form
Tell us how much you need to borrow and a bit about yourself. This takes about two minutes and won't affect your credit score.
2
Compare Your Options
If you pre-qualify, you'll see loan offers from our network of lenders. Compare APRs, terms, and monthly payments.
3
Receive Your Funds
Once you select an offer and are formally approved by the lender, your money is typically deposited directly into your bank account in as little as one business day.

Breaking Down Typical Moving Costs

Security Deposit + First Month's Rent Often the largest upfront cost	$2,000 - $5,000
Hiring Professional Movers For a 2-bedroom local move	$1,200 - $2,500
Rental Truck & Supplies (DIY) Truck, boxes, tape, packing materials	$400 - $900
Transportation & Travel Gas, lodging, and food for a long-distance move	$500 - $1,500+

Estimated monthly

~$181/mo

Example: a $5,000 loan over 36 months at 18% APR.

The total cost of a move can add up quickly, often exceeding the available limit on a credit card. A moving loan allows you to bundle these expenses into a single, manageable financial product, so you can focus on the move itself, not on juggling multiple payments.

See What Your Monthly Payment Could Be

Get a personalized rate estimate without any commitment or impact to your credit score.

Check Your Rate Now

Loan amount: $2,000 – $12,000
APR: 11.99% – 35.99%
Term: 24 mo – 60 mo

Your actual Annual Percentage Rate (APR) will depend on your credit score, loan amount, term length, and credit history. Not all applicants will qualify for the lowest rates.

Moving Loan vs. Credit Cards for Fair Credit

When you have average credit, you might be tempted to put moving expenses on a credit card. While convenient for small purchases, it's often not the best strategy for a large expense like a move. Understanding the key differences can help you make a smarter financial decision.

Comparing Your Financing Options

Feature	Personal Moving Loan	Credit Card
Typical APR (Fair Credit)	12% - 35.99% (Fixed)	20% - 30%+ (Variable)
Payment Structure	Fixed monthly payment	Variable minimum payment
Loan Amount	Lump sum up to $12k+	Limited by your credit line
Credit Score Impact	Installment loan, diversifies credit mix	Can spike credit utilization, lowering score

For a large, one-time expense like a move, the fixed payments and potentially lower overall interest of a personal loan are significant advantages. Maxing out a credit card can also hurt your credit score by dramatically increasing your credit utilization ratio, whereas an installment loan is treated differently by credit bureaus.

What Lenders Look For in Fair Credit Applicants

Credit Score: A score of 600 or higher is typically required. A score of 640+ may unlock better rates and terms.
Verifiable Income: Lenders need to see that you have a steady source of income to make your monthly payments. Pay stubs or bank statements are common.
Debt-to-Income (DTI) Ratio: This compares your monthly debt payments to your gross monthly income. Most lenders prefer a DTI below 40%.
Credit History: Lenders will look for a history of on-time payments and may be wary of recent bankruptcies or collections.

To strengthen a borderline application, consider paying down some credit card balances to lower your DTI before you apply, and check your credit report for any errors that could be pulling down your score.

Find Out What You Qualify For

It takes just a few minutes to see your personalized loan options from our network of lenders.

See My Options

Tips for a Smoother Application with Average Credit

Navigating the loan process with a mid-range credit score doesn't have to be difficult. Following a few best practices can increase your chances of approval and help you secure the best possible terms.

Only Borrow What You Need: While you might be approved for a larger amount, only take what you absolutely need for moving expenses to keep your future payments manageable.
Understand Origination Fees: Some loans for fair credit include an origination fee, which is a percentage of the loan amount deducted from your funds. Factor this into your calculation when determining how much to borrow.
Have Documents Ready: To speed up the final approval process, have digital copies of your recent pay stubs, bank statements, and a government-issued ID ready to go.
Check for Prepayment Penalties: Ensure the loan you choose doesn't charge a fee for paying it off early. This gives you the flexibility to pay down your debt faster if your financial situation improves.

Ready to make your move happen?

Start by checking your rate.

Get Started

Frequently Asked Questions

Can I get a moving loan with a 640 credit score?
Yes, it is definitely possible to get a moving loan with a 640 credit score. This score falls squarely in the 'fair' credit range, and many online lenders specialize in working with applicants in this category. While you may not receive the absolute lowest interest rates reserved for those with excellent credit, you should have access to competitive options. Lenders will also consider other factors like your income and existing debt load.
Will checking my rate for a moving loan hurt my credit score?
No. Using platforms like ours to check your potential rates involves a 'soft' credit inquiry. This type of inquiry does not impact your credit score at all. It allows you to see what loan amounts, terms, and APRs you might qualify for without any risk. A 'hard' credit inquiry, which can temporarily lower your score by a few points, only occurs if you choose a loan offer and proceed with the formal application directly with the lender.
What is a typical interest rate for a relocation loan with fair credit?
For applicants with fair credit scores (roughly 600-670), typical APRs on unsecured personal loans can range from about 12% to 35.99%. The exact rate you're offered will depend on the lender, your specific credit score, your debt-to-income ratio, the loan amount, and the repayment term you choose. Shopping around is the best way to find the most competitive rate for your situation.
How quickly can I get funds for my move?
The funding speed is one of the biggest advantages of online lenders. After you are formally approved and have signed your loan agreement, many lenders can deposit the funds directly into your bank account in as little as one to two business days. This speed is crucial when you have to pay a security deposit or put a down payment on a moving truck quickly.
Can I use a moving loan if I'm starting a new job in a new city?
Yes, many lenders will work with you in this situation. You will likely need to provide a signed offer letter from your new employer that states your start date and salary. This serves as proof of future income, assuring the lender of your ability to repay the loan once you begin your new job. It's a common scenario for relocation loans.
Is it better to use a personal loan or a credit card for moving expenses with so-so credit?
For most people, a personal loan is the better choice for large moving costs. It provides a fixed interest rate and a structured repayment plan, making it easier to budget. Putting a large expense on a credit card can dramatically increase your credit utilization, which can lower your credit score. Credit card APRs are also typically higher and variable, meaning your interest costs could rise over time.

Personal loan disclosure

Money Savvy is not a lender. We are a marketing service that connects consumers with participating lenders. Rates, amounts, and terms vary by lender, your credit history, and other factors.

Loan amounts: $1,000 – $100,000
Repayment terms: 3 – 84 months
Min APR: 5.99%
Max APR: 35.99%
Origination fees: 0% – 10% of the loan amount
Late fees: May apply; vary by lender

Representative example: A $10,000 loan with a 36-month term at an 18.99% APR would have an approximate monthly payment of $366.39 and a total cost of $13,190.04, including interest and a $500 origination fee.

Your actual APR depends on your credit score, income, and other factors. Only borrow what you can afford to repay.

California residents: California Financing Law disclosures available upon request.