Credit scores range from 300 to 850, with higher scores improving personal loan approval chances.
Personal loans fund large expenses, usually offering lower interest rates than credit cards.
Many lenders require credit scores of 640+ for approval, with better terms at 760+.
Applicants with low scores may still qualify but face higher rates and additional fees.
Improving approval odds involves timely payments, reducing debt, and maintaining a debt-to-income ratio under 36%.