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  • Official comment
    Stilt Team

    There are a few things to consider:

    • Length of your credit history: Credit Score is only a basic measure of risk that is not predictive of default unless it is established over 6+ years. A 700+ score doesn’t mean much if you developed it over only 6 months (this is more like an estimate).
      • You can expect to get credit card offers from companies at APR of 29.99% or higher. Personal loans are a completely different challenge.
      • Personal loans are generally fully amortized loans between $1,000 - $40,000 with APR from 5% - 36%. These are the loans you’ll get from companies like Lending Club, Prosper, LoanDeport, LendingPoint and many others.
        • They need a strong credit history (only 3% of the applicants with less than 6 year credit history are approved on Lending Club)
        • Interest rates are generally high for people with limited credit or imperfect credit history
        • Credit Score is not useful if you don’t have a long enough credit history
      • But if you go to websites offering these loans, you’ll most likely be rejected because of your limited or zero credit history (irrespective of your credit score). Even if approved by a lender, the average APR for you could be anywhere between 27% - 36%.
    • Previous defaults/delinquencies/collections: Hopefully, you don’t have any delinquencies, defaults or collections pending on your account. This will considerably reduce your chances for a loan (even with 731 score).
    • Recent credit checks: If you’ve been looking for credit recently - credit cards or other types of credit, you may be rejected just on the basis of number of recent credit checks. A high score score doesn’t help here as number of inquiries is an important factor.

    Based on all of the above, 700 is a good score and with a $40k income, you may get up to $10,000 personal loan from some lenders. They will not to give you a loan that increases your debt to income ratio considerably (anything close to 50% is really high). If you looking for student loans, then you can go much higher (hundreds of thousands of dollars).

    About Stilt:

    Stilt provides loans to international students and working professionals in the U.S. (F-1, OPT, H-1B, O-1, L-1, TN visa holders) at rates lower than any other lender. Learn more about us on wikipedia or visit us at If you have any questions, send us an email at

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