Borrowing with a personal line of credit has its advantages and disadvantages. Know the difference between a line of credit and a personal loan. Unsecured personal lines of credit allow you to draw funds at your leisure, without the need to take the full loan as a lump sum. This is more convenient and generally incurs less interest than a traditional personal loan. Read our article about the advantages and disadvantages of a personal line of credit. Lines of Credit for bad credit, find, compare and apply for credit cards, loans, repair your credit, consolidate debt - 131. Personal lines of credit are becoming more common for bridging short-term gaps in cash flow. Compare them first with other forms of credit. In a Nutshell If you have bad credit, it can be difficult to get approved for a line of credit. When you need money, looking at lenders that offer “bad-credit” lines of credit may not be your only financing option — or even the best one. 1. Citibank Custom Credit Line. To qualify for this line of credit, you'll need a Citibank deposit account with a minimum balance of $500 — and the account must be at least 3 months old. You must also have an annual income that starts at $10,500. The Citibank line of credit rates range from 8.99 percent to 20.99 percent, depending on your credit. Personal lines of credit for fair to bad credit Since most personal lines of credit require borrowers to have pretty stellar scores, you may think you’re out of luck if you have bad credit. KeyBank provides the tightest range of rates on its standard unsecured credit line, ranging from 10.74% - 15.99%. While KeyBank’s isn’t the lowest unsecured rate offered, KeyBank’s listed 15.99% upper limit helps unsecured borrowers with moderate credit scores establish a reasonable ceiling on their interest rates. A CreditFresh Personal Line of Credit by CBW Bank provides you with the financial flexibility to have a safety net for unexpected expenses that may come your way. This process is simple, quick, and completely transparent, with clear terms and no unexpected hidden fees. Most financial institutions offer unsecured personal loans to consumers, even if they have bad credit. Consumers with very poor credit scores may be able to obtain personal loans for more than $50,000. However, these personal loans typically aren't available to individuals in bankruptcy.