When determining how much credit you qualify for, credit history is considered by any lender to be the indicator of your loan capacity and financial credibility. Typically, the credit score you have will be the first impression that a lender has of you. It is usually then up to the lender to decide on a specific amount that you qualify for. Another factor is how long you want to have the money for and how much you ask for given your plans.

Usually, those with bad credit will tend to be pushed towards taking on small high interest loans with stringent payment schedules. However, those with a good credit history receive good interest rates, high sums of money, and more flexible requirements on their payments.

Whether you have a poor or strong credit history, how much money you qualify for also depends on which of the following types of credit you choose.

Large Personal Loans

If you want a personal loan, the amount of money you qualify for can range from just a 1,000 to above 200,000 dollars. These types of loans are usually specified and designed to meet the needs of an individual and their plans. If you have a bad credit score, you will likely only qualify for 1,000-5,000 dollars at most. There are specific companies that specialize in loans for people with bad credit. However, this amount can vary from institution to institution as risk tolerance depends on the type of bank or lender. Usually providing collateral of some form can increase the sum of cash you can receive. If you have a good credit score, a solid income plan and reason for wanting the loan, you can expect to be offered up to a maximum of about 200,000 dollars.

Credit Cards

Credit cards best suit someone who only needs to borrow some money for short periods of time. Credit limits are more built in and less flexible, usually offering less of a total limit. If seeking a short-term loan, some providers off very low interest rates, however, credit card policy details should be reviewed carefully. Some card providers use different definitions of the "short term" that can either be six months while others say a year. Qualifying for a credit card is usually just as or a slightly more difficult than it is to qualify for short-term loans from banks. When considering this credit option, be sure that you will have the capacity to pay it off in the near future because credit card interest can be higher than most loans and usually kicks in just after this short-term threshold. With poor credit, expect a ceiling of no more than a couple thousand dollars. Typically, even with a good credit score you can find ceilings of just 10 to 20 thousand.

Credit Unions

If you find a local credit union, consider this option over personal loans and credit card purchases, especially if you are seeking a particularly large sum of cash. These unions typically will offer those with poor credit double what most banks or personal loan providers will. This amounts to about 10,000 dollars maximum for those with poor credit and 400,000 for this with good credit. This is largely due to their community style ownership. Not to mention, they are also non-profit organizations, which means that their interest rates tend to be more forgiving.

Loans for Debt Consolidation

If you opt to consolidate the debts you have outstanding into just one overarching loan, can help make lenders more comfortable giving you more money. Borrowers can expect to increase their debt ceiling by up to 50 percent using this method, amounting to about 7,500 dollars for those with poor credit, and 300,000 dollars for those with good history.