Key takeaways:You can get a personal loan with bad credit, and the loan might help you build better credit. Your credit score is based on your experience with credit products like loans and credit cards. An opportunity for a personal loan for bad credit: co-borrowersSome lenders will consider an applicant with bad credit if they apply with a qualified co-borrower. Benefits of a personal loan for bad creditA personal loan can’t wipe the slate clean on bad credit, but if used wisely, it can help you improve your financial situation and credit profile. Loan application process for a bad credit loanApplying for a personal loan with bad credit is easy.