Understanding Bad Credit Loans

Sometimes people realize that they are in a situation where they will need to apply for bad credit loans and they need these right away. Bad credit loans are designed for people with a poor credit report that's less than spotless, or who have little to no credit history.

Bad Credit Loans: Everything you need to know about bad credit loans

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LendYou
до $ 2 500
loan amount:$100-5000
age:18 years of age or older
loan term:2 to 7 years
est. APR:6.63% to 485%

information
  • valid checking or savings account with direct deposit
  • you should have worked at your current employment at least 90 days
  • be a US citizen/permanent resident
  • minimum regular income of $1,000 per/month after tax
  • have a checking account in your name
  • have a valid email
  • have a home/work telephone number

Get Started

USA NewLoan
до $ 5 000
loan amount:$100-5000
age:18 years of age or older
loan term:2 to 7 years
est. APR:6.63% to 485%

information
  • valid checking or savings account with direct deposit
  • you should have worked at your current employment at least 90 days
  • be a US citizen/permanent resident
  • minimum regular income of $1,000 per/month after tax
  • have a checking account in your name
  • have a valid email
  • have a home/work telephone number

Get Started

PrimeTimeAdvance
до $ 5 000
loan amount:$100-5000
age:18 years of age or older
loan term:2 to 7 years
est. APR:6.63% to 485%

information
  • valid checking or savings account with direct deposit
  • you should have worked at your current employment at least 90 days
  • be a US citizen/permanent resident
  • minimum regular income of $1,000 per/month after tax
  • have a checking account in your name
  • have a valid email
  • have a home/work telephone number

Get Started

Loans4USA
до $ 5 000
loan amount:$100-5000
age:18 years of age or older
loan term:2 to 7 years
est. APR:6.63% to 485%

information
  • valid checking or savings account with direct deposit
  • you should have worked at your current employment at least 90 days
  • be a US citizen/permanent resident
  • minimum regular income of $1,000 per/month after tax
  • have a checking account in your name
  • have a valid email
  • have a home/work telephone number

Get Started

PaydayCash
до $ 5 000
loan amount:$100-5000
age:18 years of age or older
loan term:2 to 7 years
est. APR:6.63% to 485%

information
  • valid checking or savings account with direct deposit
  • you should have worked at your current employment at least 90 days
  • be a US citizen/permanent resident
  • minimum regular income of $1,000 per/month after tax
  • have a checking account in your name
  • have a valid email
  • have a home/work telephone number

Get Started

Payzonno
до $ 5 000
loan amount:$100-5000
age:18 years of age or older
loan term:2 to 7 years
est. APR:6.63% to 485%

information
  • valid checking or savings account with direct deposit
  • you should have worked at your current employment at least 90 days
  • be a US citizen/permanent resident
  • minimum regular income of $1,000 per/month after tax
  • have a checking account in your name
  • have a valid email
  • have a home/work telephone number

Get Started

Qualifications

  • Minimum credit score: None.
  • Minimum credit history: None, this lending platform accepts borrowers with credit history too limited to produce a FICO score.
  • Minimum gross income: $10,000.
  • Employment: Full-time job, full-time job offer starting in 6 months, a regular part-time job, or another source of regular income.
  • Must have U.S. residential street address where borrower resides (unless military personnel on active duty).
  • Must be at least 18 years old.
  • Valid email account required.
  • Personal bank account with U.S. routing number required.

Pros

  • Allows secured and joint loans.
  • Offers a wide range of repayment terms.
  • Offers a 0.5% rate discount for setting up autopay.
  • Offers significant rate discount for checking account customers.
  • Offers rate discount with direct payment to creditors on debt consolidation loans.

Cons

  • Charges origination fee.
  • No co-signed loan option.

Online decision in seconds - Money within 15 minutes

Installment Loan
under $ 5.000
Payday Loan
under $ 1.000
Personal Loan
under $ 35.000

These are also the times when these same people will sit and ask themselves if taking out a payday loan is really a worthwhile thing for them to do. Of course we cannot answer this specifically because every person’s opinion on bad credit loans can differ from one another. From here you will simply read what it is that most people ask about payday loans direct lenders and the answers to these questions. Hopefully they will help you decide whether to get a cash advance this way or not.

Bad Credit Loans - Compare Top Lenders, Rates

One thing that you might wonder about bad credit loans is whether you will be able to check the balance of the loan anytime you want. Naturally, when you take out a payday loan you should be able to check on your outstanding balance at any time you wish to. This is something that is protected by the fair lending act. You should have access to your outstanding balance and the prior payments that you have made.

Some people also think that payday loans direct lenders will not let them pay off their loan early. But this is far from the truth. The fact is that most lenders will even encourage you to do this because it will help you to save cash and give you a lower amount that you would have to pay off at the end of the lending period. It would also help you to get back on your feet in terms of your finances. Sure, you do pay interest when you take out these loans but their primary purpose is to get you back on track again with your budget. Most lenders do not care whether you pay off the loan early or not but you have to make sure that they will not charge you something extra for doing so.

Once you have paid off bad credit loans, you can definitely apply for one again. You have proven yourself to be a good customer and the lender is not definite that you will be able to pay back what you borrowed because you have done so in the past. It would then make borrowing a second time a lot faster and easier for you. All you have to do is to inform the lender that you will be needing another cash advance. Then you do the application online and you know that the lender already has your documents on file. This is a great method to use for people who are trying to increase their credit rating because their reports will show that they were able to pay off their debts to payday lenders right away.

Your loan proceeds is directly proportionate to how much you earn each month so while you can get more than $1,500 from your payday lender, this has to be commensurate to how much you earn.

FAQ - Loans for Bad Credit

Are online loans safe❓

It is safe to get a loan from an online lender; you just need to choose a reputable lender. Features like no credit checks and annual percentage rates above 36% should be red flags. Know the signs of predatory loans to avoid a debt trap.

Where can I get a loan❓

Online lenders, banks and credit unions all offer unsecured personal loans. While some online lenders can offer low rates and fast funding, you may get a better offer from your credit union or bank if you're an existing customer. Learn more about where to get a personal loan.

How fast can I get a loan❓

Some lenders say they can approve a loan application in minutes and fund a loan win a day or two of approval, while others may take a few days for each. Generally, you should expect to get the funds from a installment loan within a week of approval.

Can I get a fast loan with bad credit❓

Credit score requirements vary among lenders. Some lenders accept borrowers with good or better credit only; others will loan to bad-credit borrowers. Learn how to get a payday loan with bad credit.

Can I get a cash advance online❓

Cash advance online loans are quickly approved, and in most cases available on the same day for our clients. As soon as the submitted cash loan application has been approved, funds will be transferred into your account on the same day.

How can I borrow emergency money❓

You can get an emergency loan through a bank, online lender or credit union. It's best to compare emergency loans with alternatives to find the cheapest way to borrow money. Online lenders can fund loans quickly — sometimes the same or next day after you're approved — and many let you check your rate before you apply. It usually takes a few minutes to apply for a loan if you have all the required documents ready.