Easy Approval Vacation Loans: 8 Best Options (100% Working)

Easy Approval Vacation Loans
Written by William Jameson
0 0
Read Time:15 Minute, 56 Second

Vacations are truly the time of the year that we wait for most eagerly. The lockdown on travel during the pandemic only added to our already stressful lives and stunted the progress of life and the economy for months. Ordinary people, travel bloggers, and the wanderlust community have all equally been craving that trip to the beach, that hill station hike, or that camping trip to the forest. You don’t have to tell us twice how much you have missed the breath of fresh air, the warmth of the golden sun on your face, and the thrill of a road trip. We realize that the pandemic was a tough time and may have impacted you financially. As such, if you’re in a dearth of cash, this article will guide you toward the perfect vacation loans. Let’s dive deep.


Lender Est. APR (%) Loan Amount ($) Loan Term (yrs) Minimum Credit Score Overall Rating
LightStream 6.99- 23.99 5000- 100,000 2- 7 660 5.0/5
Discover Personal Loan 6.99-24.99 2500-35,000 3-7 660 5.0/5
Prosper 6.99-35.99  2000-50,000 2-5 560 4.5/5
Lending Club 8.30-36.00 1000-40,000 3-5 600 5.0/5
SoFi 7.99-23.43 5000-100,000 2-7 None  5.0/5
Upgrade  8.49-35.97 1000-50,000 2-7 560 5.0/5
Upstart  6.56-35.99 1000-50,000 3-5 None  5.0/5
Universal Credit 11.69-35.93 1000-50.000 3-5 560 4.5/5

8 Best Vacation Loans for 2023

Amidst the wide variety of loans available, vacation loans fall under the category of short-term unsecured loans. Unsecured loans are loans given out by people, communities, businesses, or financial institutions without asking for a security deposit. Personal loans for vacations work in the same manner. 

Best Vacation Loans

The institution will lend the money for the purpose of traveling without asking for any security deposit. There’s generally little to no credit check; so a bad or damaged credit status will not hold you back. The application procedure is usually fast and hassle-free and the requirements are easier to follow. You will be spoilt for choice but not all of them will be beneficial for you. So, here are 8 best vacation loans that actually help:

1. LightStream


One of the nation’s premier money lending companies, LightStream approves loans for various reasons, from car loans to home repairs, including a few niche areas like medical loans, jewelry financing, adoption financing, and IVF financing. But it is the most reputed in the market for providing a personal loan for vacation. They are a part of Truist, an American bank holding company. According to its website, the company’s founding philosophy is that a person with good credit should not wait longer than necessary for an application to be processed and the loan to be disbursed. 

It is this ideology that has made them so popular in the field of financing trips. Providing loans from $5000 to $100000, the company has overwhelmingly positive reviews on its website. One customer cited same-day funding and no requirement for contractors as reasons to use the app.

Other customers praise their low annual percentage and easy application process. LightStream also has excellent customer service. They urge the customers to contact them after receiving the loan if they aren’t satisfied. They will send a questionnaire through email to gauge your dissatisfaction.


  • The biggest advantage is that there are no hidden fees.
  • You will be provided a discount for making automated payments.
  • Their customer service is truly unparalleled. 
  • Through their one-of-a-kind Rate Beat program, Light Stream reduces their offered rate to 0.10% less than the offered rate of their competitor, in case the latter is initially lower.


  • No provisions to pre-qualify for the loan are listed on their website.
  • You will need years of prior credit history.
  • No consolidation of debt is offered.


  • A fair credit score of 660.
  • Prior credit history.
  • Strong payment history.
  • Ability to have retirement savings, investments, or any portfolio.
  • History of car loans.
  • A robust income.

2. Discover Personal Loans

Discover Personal Loans

If you are looking for vacation loans with low rates and longer repayment tenures, then Discover Personal Loans is perfect for you. With a minimum requirement of 660, the company provides a credit line of $2,500 to $35,000 and a repayment period of up to 36, 48, 56, or 84 months.

Discover Personal loans also enjoy an annual percentage rate of as low as 5.99%. There are no hidden fee structures or origination fees charged by customers. A group of financial experts addresses customer queries and grievances and also provides support and advice regarding the credit market.

Discover Personal is suitable for vacation financing and is reputed in debt consolidation, which is the process of clumping all existing debts into one. Discover Personal loans also provides the unique facility of a 30-day money-back guarantee if you want to cancel your debt for any reason. They have a mobile application that you can use to manage your debt and stay updated.


  • No fee is charged for origination.
  • Debt consolidation is available.
  • A mobile application is available to monitor your debt.


  • You may be charged a late fee.
  • There are no discounts of any kind.
  • You cannot co-sign your loan.


  • You must be an adult (18 or more).
  • You must be a citizen or a permanent resident of the U.S.A.
  • A credit score of 660.

3. Prosper


Founded in 2005, Prosper took advantage of the peer-to-peer short-term personal loan market growing in the United States and went from strength to strength. According to its website, Prosper has a customer base of approximately 1,400,000 borrowers handling approximately twenty-three billion dollars in loans and other services. 

With a fixed credit line of $2000 to $50,000, Prosper is a typical bad credit vacation loan company. Turning to Prosper is a good idea if your credit is damaged or low, especially if you’re searching for a personal loan for bad credit to fund your holiday.

At Prosper, you can also apply for a joint loan with a co-signer, especially if it’s a co-signer with a strong credit history, so it can benefit the other borrower as well. Prosper has also extended its services to home equity, with a credit line that can go up to half a million dollars. However, even Prosper has its limitations. They charge an origination fee. Also, there are no benefits to automating your payments in this company.


  • They offer loans to people with bad to fair credit.
  • There are provisions for joint loan applications. 
  • The credit line is very high.


  • They charge origination fees and late payment fees.
  • There are no benefits to automating your payments.
  • The debt consolidation process is complicated.


  • You need to be a permanent resident or citizen of the US.
  • You need to be at least 18 years of age.
  • Your DTI (Debt to Income) ratio should be within 50%.
  • A minimum credit score of 560.

4. SoFi


With no fees, a wide range of credit lines, and convenient repayment plans, SoFi screams out all the features necessary to be a top personal loan lender, especially for a personal loan for vacation. According to its official website, SoFi Lenders Corp was built to make people financially literate and teach them to use money in a way that fulfills their dreams.

Created by two young men during their college years, SoFi or Social Financial’s primary focus was to provide suitable alternatives for people riddled with academic debt. With this noble and clear mission in mind, SoFi’s progress was unstoppable. 

In 2014, they collaborated with Barclay’s to provide student loans and submit their report. SoFi also has a cryptocurrency trading facility and other banking facilities, such as a hybrid savings, checking account, etc. However, if you use SoFi’s services, you can only borrow a large sum as they have a high threshold amount. Moreover, there are no provisions to choose the initial payment date.


  • No fees are applied.
  • There are provisions for a joint application. 
  • There are discounts for automating your payment. 
  • They offer hardship programs for urgent borrowings. 
  • They have a mobile app for easy access.


  • The initial payment date is fixed for you.
  • There is a high threshold for the loan amount.


  • You must be 18 years of age.
  • You must be a legal US citizen or permanent resident.
  • You must have a stable income or proof of employment. 

5. Lending Club


Serving over 4 million customers, Lending Club is one of the best options for a vacation loan. Lending Club has an innovative approach to online banking, incorporating technology with an AI-driven algorithm to provide a wide range of financial services. 

Being one of the few personal loan companies that loan out up to $40,000 makes Lending Club an appropriate choice for vacation loans. The company has reached the goal of lending more than $80 billion and also has excellent customer feedback.

Lending Club also stands out because of its service in debt consolidation. If you have a history of borrowing money and have existing debts while taking out the loan, Lending Club will help consolidate your other loans with this one. They also provide joint applications for loans that are suitable, for example, a personal loan for vacation if you are a couple. You can pre-check your qualifications without affecting your credit score. But Lending Club isn’t free. Origination and late fees range from 1% to 6%. 


  • They offer a credit line of up to $40,000.
  • Joint applications are allowed.
  • Debt consolidation services are provided.


  • Origination and late fees are applicable.
  • There’s no mobile application to monitor your loan.


  • A credit score of 600 is required at the least.
  • A minimum credit history of about two years.

6. Upgrade 


Providing a credit limit from $1000 to $50,000, Upgrade is a personal loan lending company with a good reputation for vacation financing. The upgrade provides a broad spectrum of financial services requiring fair to good credit, i.e., a credit score of 560 or above.

The upgrade has excellent discounts and multiple cash benefits offered for using their OneCard. You will be offered 3% cash back on essential purchases and 2% on other purchases. What makes Upgrade lucrative is also its debt consolidation features.


  • Fast funding.
  • Their credit line is high, i.e., up to $50,000.
  • There are good discounts and cashback opportunities.
  • They have good debt consolidation features.
  • A more extended repayment period for repairing your home.


  • They require an average to good credit score.
  • They need a high debt-to-income ratio.


  • A minimum credit score of 560 to 690.
  • Proof of stable income.
  • A minimum of 2 years worth of credit history. 

7. Universal Credit 

Universal Credit

Universal Credit’s biggest USP is its easy access to credit. Its official website markets itself as a company that provides loans when you need them urgently. Universal Credit offers various financial services, from home repairs to the consolidation of debts. Their funding is fast and has predictable payments and fixed rates. Access to credit happens directly through online transfers and credit monitoring is offered free of charge.

The biggest disadvantage of Universal Credit is that it charges an origination fee from $5.25% to 8.99%. With a minimum credit requirement of 560 credit score, it also charges a late fee of $10. Moreover, they have no service in Washington, DC.


  • Easy transfer of funds.
  • They are great for debt consolidation.
  • Direct online transfer of money.


  • High late fee and origination fee charges.
  • Not many repayment options.


  • A minimum of 560 credit score is required.
  • There must be a 75% DTI ratio.
  • Recorded credit history of the last two years. 

8. Upstart 


Upstart provides a rapid transfer of money to your loan account once the loan is approved. However, the rules and regulations are stringent and inflexible. Fast funding is where Upstart stands out the most. Its application process is rapid because it mainly uses prior credit records, banking history, and income brackets to determine whether you’re eligible for the loan.

However, it doesn’t provide any flexibility regarding payment terms. It provides a payment term of 2 to 5 years; which is neither exceptional nor gives the borrower the power to decide the amount of the installments. On top of that, there are origination fees and late fines for delayed payments.


  • No credit check is needed.
  • Fast funding is available.
  • Multiple choices for payment dates are given.
  • Offers important education loans.


  • Stringent rules.
  • Not many repayment options. 
  • No mobile apps to track progress.


  • A minimum income of $ 12,000 is required. 
  • Income documents such as salary slips, social security, alimony, business financial files, rent agreements, etc. need to be shown.
  • Income must be stable.

Applying for a Vacation Loan

It is imperative that we take time and offer ourselves a retreat from the world to decompress. However, for people who don’t have the luxury of having a massive disposable income, personal loans for a vacation can be helpful to make your dream holiday come true. You must know about a few things if you need a loan for vacation.

Check Your Credit Report

Always keep a tab on your credit score. Different personal loan companies have different requirements for credit scores. While Light Stream and Discovery have a minimum credit requirement of 660, others like Universal Credit have a minimum requirement of 560. Additionally, different companies can have different policies for vacation financing.

Compare Options

Search the internet or other sources to consider your options. Some companies charge variable interest rates in accordance with your credit score. If you have a high credit score, your interest rates will likely be less, and vice versa. Some credit cards, for example, Upgrade, provides massive cashback benefits on essential items and discounts. You need to look out for those if you’re applying for loans for vacation.


Most personal loan websites allow for pre-checking your qualification criteria before you apply for a loan. That doesn’t affect your credit score though. 


Arrange your documents like identity, proof of steady income, permanent address, credit score report, bank account numbers, and portfolio documents. 

Tips for Getting the Best Vacation loans

If you are looking for bad credit personal vacation loans, here are a few tips that can help you:

  1. Keep monitoring your credit score.
  2. Compare all your options by browsing the internet or by industry experts.
  3. If you have a stable income or are employed in some institution, you have a better chance of approval.
  4. Go for vacation loan companies without any origination or late fee.
  5. Try making payments on time, so you don’t have to pay any interest/ late fees.
  6. Keep an eye on the APR (Annual percentage rates).

Cost of a Vacation Loan

Different lenders facilitate different ranges of credit lines for vacation loans. Your cost also is influenced by high annual percentage rates and late fees, if applicable, especially if you’re applying for bad credit vacation loans. LightStream company provides a credit limit ranging from $5000 to $100,000 and an annual percentage rate of 6.99 to 23%, depending on your credit score. So you might get a considerable loan but be prepared to pay back more than you borrow if you’re late in your payments.

Discover Personal Loans offers a less range of credit lines of $2500 to $35,000, but the APR is more or less similar to 6.99 to 23%. But there aren’t any origination fees which is an advantage. 

Vacation Loans: How Does it Work?

Vacation financing loans are generally short-term loans disbursed to be returned within a limited amount of time with high-interest rates and sometimes, late fees. If you are approved for a personal loan for vacation, you will be asked to approve your loan account. The amount of the fund will be deposited there. There are different timings for different companies. Some companies might take a few days to transfer funds within hours.

how does vacation loan work?

Since it is a short-term loan, the repayment period starts a month after you have received the funds. Any delay in your repayment will cost extra money in the form of interest or a late fee, though that does not apply to all companies.

Alternative for Vacation Loans

Vacation loans can be advantageous, but high-interest loans and sketchy late fees can be burdensome. You will have problems saving up for future vacations when necessary. So here are alternative methods to gain access to vacation financing.

  • Saving up for vacations is a much better option than taking high risks loans for vacations.
  • Another way to fund your trip is to search for lenders who charge no annual percentage for late payments otherwise.
  • There are credit cards, both secured and unsecured, that provide low-interest rates and no fee, which can disburse ample funds for your trip.
  • Use your credit card reward system to travel judiciously if possible. It is proven to reduce substantial costs. 


Q1. What credit score do you need to finance your vacation?

The different lenders provide money for different credit scores. For companies like LightStream and Discover, the minimum criteria for a credit score are 660. Companies like SoFi have no credit checks whatsoever. So keeping a credit score in the range of 500 to 660 is enough to get approved for a personal loan vacation.

Q2. How far in advance should I apply for a vacation loan?

Vacation loans do not generally take time to go through your qualification procedure. Some companies can take about a few days, other companies have a swift processing phase and almost immediate transfer of funds. But to be safe, apply a month before planning your trip.

Q3. Can you take out loans for a vacation?

Multiple companies have categorically specialized in vacation loans, such as Lending Club. Other companies provide discounts with certain hotel brands and trip planning companies to be beneficial for traveling.


Vacation loans are an essential means to access funds for people who need a desperate retreat from the hustle and bustle of city life. They make travel plans a reality and ask for no collateral deposit. It can also be an opportunity for people seeking to build credit and make their budget easier to finance. However, you can also be overburdened with debt as it is a high-risk loan that can get you stuck for life. Scour for options, take the alternative with less or no fees, and go for it if you’re confident. Read the documents, terms, and conditions before applying.

About Post Author

William Jameson

As one of the members of our editorial team, William Jameson is responsible for driving the vision of what we want to communicate on our website about the latest financial services, loan offers, and credit card offers. With more than 10 years of experience in content creation and copywriting, William Jameson is an expert in his craft. He has a Bachelor’s degree in Communications from the University of California and has held various positions within journalistic outlets prior to joining our team. With his knack for concise yet informative pieces, He ensures that every article published in City Hall News contains valuable information that readers can take away with them.
0 %
0 %
0 %
0 %
0 %
0 %

About the author

William Jameson

As one of the members of our editorial team, William Jameson is responsible for driving the vision of what we want to communicate on our website about the latest financial services, loan offers, and credit card offers. With more than 10 years of experience in content creation and copywriting, William Jameson is an expert in his craft. He has a Bachelor’s degree in Communications from the University of California and has held various positions within journalistic outlets prior to joining our team. With his knack for concise yet informative pieces, He ensures that every article published in City Hall News contains valuable information that readers can take away with them.

Average Rating

5 Star
4 Star
3 Star
2 Star
1 Star

Leave a Reply

Your email address will not be published. Required fields are marked *