If you’ve ever wanted to borrow money at a reasonable interest rate but have been denied because of limited credit, income or employment history, the latest generation of marketplace lenders might be able to help.

A thin credit file is a problem for many borrowers whom these lenders target.

While you may be more likely to be approved with one of these lenders, your rate might be higher than if you worked on your credit first, before applying for any loan, says Thomas Nitzsche, a financial educator with Atlanta-based ClearPoint Credit Counseling Solutions.

Even if you can’t get a better rate than you could on a credit card, a personal loan may be a better option, says John Laurito, president and CEO of Concord Wealth Management in Waltham, Massachusetts.

The personal loan has a specified payoff period; a credit card can lead borrowers to keep the debt longer and pay more interest over time.

Upstart has a minimum of 640, although the lender will consider applicants who don’t have enough credit history to have a score, and Vouch requires 600.

Historically, there is a link between credit score and ability and willingness to repay debt, which is why a credit score still remains a critical characteristic in loan qualification,” Cox says.