Best Vacation Loans in 2024

Pay for your flight, hotel and travel expenses with a loan

Checking rates won't affect your credit score

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LendingTree is compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.
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Top lenders for vacation loans

Discover: Best vacation loans for good credit

(1,594)
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7.99% - 24.99%

$2,500 - $40,000

36 to 84 months

None

720

Pros
  • No upfront fees
  • Money available the next business day
  • No fees for paying off loan early
Cons
  • Charges late fees
  • Only available to people with good or excellent credit
  • Can’t apply with another person

What to know

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If you have good or excellent credit, consider using a Discover loan to pay for your next trip. Discover will send you your money within one business day. Plus, you’ll keep costs down by skipping the upfront loan processing fee (origination fee) that many other lenders charge.

But don’t let your vacation relax you so much that you forget to make your Discover loan payment. Otherwise, you’ll be on the hook for a $39 late payment fee.

To learn more, read our full Discover personal loan review.

How to qualify

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You’ll need to meet these eligibility criteria to get a Discover loan:

  • Age: Be at least 18
  • Citizenship: Have a Social Security number
  • Administrative: Have a physical address, an email address and internet access
  • Income: Minimum income of $40,000 (individually or as a household)
  • Credit score: 720

LightStream: Best vacation loans with no fees

(349)
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(349)
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7.49% - 25.29% (with autopay)

$5,000 - $100,000

24 to 84 months

Loan Term Disclosure

Your loan terms, including APR, may differ based on loan purpose, amount, term length, and your credit profile. Excellent credit is required to qualify for lowest rates. Rate is quoted with AutoPay discount. AutoPay discount is only available prior to loan funding. Rates without AutoPay are 0.50% points higher. Subject to credit approval. Conditions and limitations apply. Advertised rates and terms are subject to change without notice. Payment example: Monthly payments for a $25,000 loan at 7.49% APR with a term of 3 years would result in 36 monthly payments of $777.54. © 2024 Truist Financial Corporation. Truist, LightStream and the LightStream logo are service marks of Truist Financial Corporation. All other trademarks are the property of their respective owners. Lending services provided by Truist Bank.

None

Not specified

Pros
  • No fees
  • Borrow up to $100,000
  • Same-day funding available
  • Autopay discount
Cons
  • Must have good or excellent credit to qualify
  • Can’t check rates without submitting application
  • Must borrow at least $5,000

What to know

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You’ll avoid the upfront and late payment fees that other lenders charge when you take out a vacation loan with LightStream. You can also get fast funding — LightStream will send you your money as soon as the same day you apply.

LightStream only works with borrowers who have good or excellent credit and several years of credit experience. Also note that LightStream will only show you your rates after doing a hard credit pull. This will temporarily knock a few points off your credit score.

To learn more, read our full LightStream personal loan review.

How to qualify

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LightStream doesn’t specify its exact credit score requirements, but you must have good to excellent credit to qualify. Most of the applicants that LightStream approves have the following in common:

  • At least five years of on-time payments under a variety of accounts (credit cards, auto loans, etc.)
  • Stable income and the ability to handle paying their current debt obligations
  • Savings, whether in a bank account, investment account or retirement account

Prosper: Best vacation loans with another person

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(3,647)
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8.99% - 35.99%

$2,000 - $50,000

24 to 60 months

1.00% - 9.99%

560

Pros
  • Allows for co-applicants
  • Borrow as little as $2,000
  • Funding within one business day
Cons
  • Charges fees
  • Charges high rates to people with bad credit
  • No autopay discount

What to know

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If you want to boost your odds of approval, you can add a second person to your Prosper vacation loan application. A co-applicant with excellent credit can also help you qualify for lower rates, which would make paying for your vacation less expensive.

Keep in mind that you’ll have to pay an upfront loan processing fee (origination fee) of 1.00% - 9.99%, which is taken out of the total amount you’re borrowing.

To learn more, read our full Prosper personal loan review.

How to qualify

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To get a loan with Prosper, you must meet the following eligibility requirements:

  • Age: Be 18 or older
  • Citizenship: Be a U.S. citizen
  • Administrative: Have a U.S. bank account and Social Security number
  • Residency: Not live in Iowa or West Virginia
  • Credit score: 560

SoFi: Best large vacation loans

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(97)
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8.99% - 29.99% (with discounts)

Pricing Disclosure

Fixed rates from 8.99% APR to 29.99% APR reflect the 0.25% autopay interest rate discount and a 0.25% direct deposit interest rate discount. SoFi rate ranges are current as of 02/06/2024 and are subject to change without notice. The average of SoFi Personal Loans funded in 2022 was around $30K. Not all applicants qualify for the lowest rate. Lowest rates reserved for the most creditworthy borrowers. Your actual rate will be within the range of rates listed and will depend on the term you select, evaluation of your creditworthiness, income, and a variety of other factors. Loan amounts range from $5,000– $100,000. The APR is the cost of credit as a yearly rate and reflects both your interest rate and an origination fee of 0%-7%, which will be deducted from any loan proceeds you receive. Autopay: The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. Autopay is not required to receive a loan from SoFi. Direct Deposit Discount: To be eligible to potentially receive an additional (0.25%) interest rate reduction for setting up direct deposit with a SoFi Checking and Savings account offered by SoFi Bank, N.A. or eligible cash management account offered by SoFi Securities, LLC (“Direct Deposit Account”), you must have an open Direct Deposit Account within 30 days of the funding of your Loan. Once eligible, you will receive this discount during periods in which you have enabled payroll direct deposits of at least $1,000/month to a Direct Deposit Account in accordance with SoFi’s reasonable procedures and requirements to be determined at SoFi’s sole discretion. This discount will be lost during periods in which SoFi determines you have turned off direct deposits to your Direct Deposit Account. You are not required to enroll in direct deposits to receive a Loan.

$5,000 - $100,000

24 to 84 months

0.00% - 7.00% (optional)

680

Pros
  • Borrow up to $100,000
  • Offers same-day funding
  • Check rates without affecting credit score
Cons
  • Must borrow at least $5,000
  • May have to pay an upfront fee to get lower rates

What to know

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While lenders usually only offer up to $50,000, you can take out as much as $100,000 from SoFi. SoFi can transfer your funds the same day you close on your loan, and the upfront origination fee is optional.

Since SoFi loans start at $5,000, you’ll have to look elsewhere for a smaller vacation loan. And you may have to accept an origination fee in order to qualify for SoFi’s lowest rates.

To learn more, read our full SoFi personal loan review.

How to qualify

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You must meet the requirements below in order to get a loan from SoFi:

  • Age: Be the age of majority in your state (typically 18)
  • Citizenship: Be a U.S. citizen, an eligible permanent resident or a non-permanent resident (a DACA recipient or asylum-seeker, for instance)
  • Employment: Have a job or job offer with a start date within 90 days, or have regular income from another source
  • Credit score: 680

Upgrade: Best small vacation loans

(2,261)
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(2,261)
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9.99% - 35.99% (with discounts)

$1,000 - $50,000

24 to 84 months

1.85% - 9.99%

580

Pros
  • Available to borrowers with fair credit
  • Borrow as little as $1,000
  • Autopay discount
Cons
  • People with fair credit will pay high rates
  • Charges fees

What to know

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You should only borrow as much as you need to pay off your vacation, and Upgrade allows you to take out as little as $1,000. Besides small loans, Upgrade also offers an autopay discount, which could make your trip even less expensive.

While Upgrade loans are available to people with fair credit, these borrowers will likely pay high rates. You should also keep in mind that Upgrade charges an upfront loan processing fee called an origination fee, which will add to the cost of your loan.

To learn more, read our full Upgrade personal loan review.

How to qualify

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To qualify for an Upgrade loan, you must meet the requirements below:

  • Age: Be at least 18 years old (19 in some states)
  • Citizenship: Be a U.S. citizen or permanent resident or live in the U.S. with a valid visa
  • Administrative: Have a valid bank account and email address
  • Credit score: 580

Upstart: Best vacation loans for bad credit

(16,845)
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(16,845)
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7.80% - 35.99%

$1,000 - $50,000

36 or 60 months

0.00% - 12.00%

300

Pros
  • People with bad credit may qualify
  • Competitive rates
  • Get money within one business day
Cons
  • May charge high fees
  • Only offers two repayment periods

What to know

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Borrowers with bad credit have better odds of getting a vacation loan from Upstart, an online marketplace. Upstart heavily weighs factors like employment, income and level of education when deciding whether to offer you a loan. Plus, you need a minimum credit score of 300 to qualify. This is one of the lowest credit requirements currently on the market.

People with bad credit may qualify for an Upstart loan, but they’ll likely pay high rates and fees. Upstart’s origination fees go up to 12.00%, and repayment periods are limited to just two options: 36 or 60 months.

To learn more, read our full Upstart personal loan review.

How to qualify

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Upstart has transparent eligibility requirements, including:

  • Age: Be 18 or older
  • Administrative: Have a U.S. address, personal banking account, email address and Social Security number
  • Employment: Have a job or job offer that starts within six months, or have regular income
  • Credit-related factors: Debt-to-income (DTI) ratio no higher than 50% (45% in Connecticut, Maryland, New York and Vermont), no bankruptcies within the last year, fewer than six inquiries on your credit report in the last six months and no current delinquencies
  • Credit score: 300

What is a vacation loan?

A vacation loan is a personal loan you use to pay for travel expenses like plane tickets, hotel stays and rental cars. These loans can come with interest rates as high as 36% and range from $1,000 to $100,000.

Personal loans for vacation aren’t backed with collateral like a car or savings account. Instead, lenders compare you to their eligibility requirements in order to decide what rates you’ll get and whether to offer you a loan at all.

Pros and cons of using a personal loan for vacation

Here’s what to consider before taking out a loan for vacation:

ProsCons

  Can make your travel plans a reality if you’re unable to save up in time


  Build credit with consistent payments


  Come with fixed monthly payments and a specific end date

  Your vacation will cost more than it would if you saved up in advance


  It will likely take years to pay off your vacation


  It’s not a smart financial decision to take on debt for things you don’t need


  Missing payments will damage your credit score

How to find a vacation loan with LendingTree

  1. Fill out a single form. You only need to complete one application through LendingTree to qualify for vacation financing with up to five lenders. The form should take about two minutes to complete.
  2. Compare your rates. Review your vacation loan offers, paying close attention to the rates. Choose the lender that offers the lowest rates with a monthly payment that fits in your budget.
  3. Get your money. You’ll need to submit a formal loan application and sign a loan contract. After that, the lender will send you your money, usually by direct deposit.
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How to save money on a vacation loan

The best way to save money on any loan is to qualify for lower rates. Here are three of the best ways to get a cheaper loan with lower rates:

  • Work on your credit. If you have time before takeoff, spend a few weeks or months improving your credit score. According to a LendingTree study, personal loan borrowers could save an average of $1,925 by raising their credit scores from fair to very good.
  • Apply with another person. Adding a second person to your loan application can decrease your risk in the eyes of a lender. If you choose to take out a loan with a cosigner, remember that both of you will be legally responsible for paying off the loan.
  • Apply for a secured loan. Secured loans come with lower rates in exchange for collateral like a savings account, a car or real estate. Keep in mind that your lender will take your property if you can’t keep up with payments.

Alternatives to vacation loans

The best way to pay for a vacation is to save your money in advance to avoid taking on bad debt for an unnecessary expense. But if you don’t have time to save for an upcoming trip, the best (and cheapest) way to pay for your vacation is to use a 0% annual percentage rate (APR) credit card. Here’s why:

  • $0 in interest or fees. You won’t pay interest as long as you pay off the card in the introductory period. That means the vacation won’t cost extra money.
  • Less time in debt. You should pay off your vacation in the 0% introductory period, which lasts between six and 21 months. All things considered, that’s not a long time to be in debt.

We’ll break it down for you in numbers. Here’s what you need to know about the different ways to pay for a $3,000 vacation:

Monthly paymentTime until paid offTotal amount paidOur verdict
Saving up$125 (to a savings account)2 years$3,000Best financial choice (but you’ll need to wait to take your trip)
0% intro APR credit card$142.8621 months$3,000Best option if you need to travel now
Vacation loan with excellent credit$109.453 years$3,940.31Choose if you must, but know you’ll spend almost $1,000 on interest
Vacation loan with bad credit$137.413 years$4,946.81Most expensive

  Hit the road with a travel card

Whether you save up or take out a loan for your trip, use a travel credit card to pay for transportation and hotel stays. You’ll earn points or cash back for your travel purchases, which you can redeem to offset the cost of your vacation.

How we chose the best vacation loans

We reviewed more than 30 lenders that offer vacation loans to determine the overall best six lenders. To make our list, lenders must offer competitive APRs. From there, we prioritize lenders based on the following factors:

  • Accessibility: Lenders are ranked higher if their personal loans are available to more people and require fewer conditions. This may include lower credit requirements, wider geographic availability, faster funding and easier and more transparent prequalification and application processes.
  • Rates and terms: We prioritize lenders with more competitive fixed rates, fewer fees and greater options for repayment terms, loan amounts and APR discounts.
  • Repayment experience: For starters, we consider each lender’s reputation and business practices. We also favor lenders that report to all major credit bureaus, offer reliable customer service and provide any unique perks to customers, like free wealth coaching.

According to our systematic rating and review process, the best vacation loans come from Discover, LightStream, Prosper, SoFi, Upgrade and Upstart. LendingTree reviews and fact-checks our top lender picks on a monthly basis.

Frequently asked questions

Yes. You can use a loan for most purposes, including a vacation. Your lender will likely ask how you plan to use the money during the application process.

Vacation loans are a type of personal loan that are typically unsecured (don’t require collateral), come in a lump sum and have fixed interest rates and monthly payments. Travel loans also have predetermined repayment periods that usually last between 24 and 60 months.

Unless you can afford to pay off a travel loan quickly or the trip is absolutely necessary, it’s not a good idea to go into debt in order to take a vacation.