No Credit Check Loans – 12 Personal Loan Options (Bad or No Credit OK)


12 Online Personal Loans (No Credit Check Loans, Bad Credit OK)

No credit check loans sound too good to be true, especially to someone with bad or even no credit . But, when something sounds too good to be true, be especially careful.   You could end up buried in a never ending cycle of debt.  Or, you could even be scammed out of your personal information.  It takes persistence to apply for a personal loan with poor credit.  It can be tedious searching  for a lender that will look past your low credit score.  Each new rejection can increase your stress level and make you more desperate to find the financing you think you need.

Eventually, those dodgy sounding No Credit Check Loan offers start to look like an option.  However, that could be a very expensive mistake. Personal loans with no credit check almost always come at a very steep price.  Better options are almost always out there.  You’re better off exploring every other option before turning to a no credit check loan.

No Credit Check Loans – What are They?

A No Credit Check Loan is typically a type of loan that does not involve a hard credit check.  A lender will use other information, like work history and bank balance to determine if a borrower is creditworthy.  Some potential borrowers find this appealing  as opposed to a lender digging into a bad credit history. A no credit check loan may seem like a good option for fast cash.  But there are risks involved and these offers usually come with a very high price tag.  You need to educate yourself to make the best and safest borrowing decision.

There are many personal loan companies that specialize in working with borrowers with bad credit. But, personal loans that involve no credit check at all are entirely different. Lenders offering these loans may consider other aspects of your finances, like proof of regular employment and a checking account. Other lenders may not bother with either.  They just tack on interest and fees to compensate for any potential default on loan payments.

No Credit Check Loans – How They Work

Loans that don’t require a credit check include payday and auto title loans. Instead of a credit check, they may ask for information about your bank account, proof of current income and a valid address and phone number. These loans tend to have short repayment periods, typically ranging from a couple of weeks to a month. Payday loans are unsecured and usually need to be repaid by your next payday. Auto title loans, on the other hand, use the title of your car or vehicle as collateral.  Lenders that offer payday and auto title loans may also provide short-term personal loans that allow at least a few months to repay the debt. These installment loans offered by payday and auto-title loan lenders typically have high interest rates.  But, they may give  you as long as a year to repay the debt.

No Credit Check Loans – Why You Should Avoid Them

Lenders who don’t require credit checks aren’t doing it out of kindness.  Subprime lenders have such high risk tolerance because they can charge desperate borrowers exhorbitant interest and fees. As a result, no credit check loans often come with remarkably high interest rates.  These rates tend to be concealed by calling them finance charges in addition to the interest charged.  This approach makes it harder to compare with regular loans that operate by disclosing an APR (annual percentage rate).

A study was conducted by the Consumer Financial Protection Bureau regarding payday loans.  The agency found that more than 80% of these loan borrowers reborrow, or roll over, within 30 days.  Also, more than 40% of online payday loan borrowers end up defaulting.  Some lenders that offer these loans don’t report any of your payment activity to the three major consumer credit bureaus. If you end up with a loan that doesn’t get reported, you can’t use it to rebuild your credit history.

Bad Credit – Best Online Installment Loans 

Even with poor credit, personal installment loans are often the easiest type of financing to repay.  This is because they allow monthly payments instead of requiring the principal and fees to be repaid all at once. These loans do come with credit checks.  So, it can take a little shopping around to find a good lender if you have bad credit or your credit score is low. However, online lending networks can be a good way to compare dozens of lenders from around the country.

1 MoneyMutual

  • Short-term loans up to $2,500
  • Online marketplace of lenders
  • Funds available in as few as 24 hours
  • Simple online form takes less than 5 minutes
  • Trusted by more than 2,000,000 customers
  • Not available in NY or CT


  • Loans from $500 to $10,000
  • All credit types accepted
  • Receive a loan decision in minutes
  • Get funds directly to your bank account
  • Use the loan for any purpose


  • Loans from $500 to $5,000
  • Helping those with bad credit since 1998
  • Get connected with a lender
  • Simple form & quick funding
  • Get your money as soon as next business day

Installment loans often come with origination fees.  However, those fees are typically included in the APR provided to you with your loan offer.  This makes it easier to compare loans by directly comparing the APRs rather than a bunch of interest rates and variable origination fees.  With a personal installment loan, you can have a lot of control over the size of your monthly payment.  This can be managed by varying the length of your loan terms. Longer-term loans will generally have lower monthly payments than short-term loans.  It makes them easier to repay.  However, the longer you take to repay your installment loan, the more total interest fees you’ll wind up paying.  There is a tradeoff between smaller monthly payments and a longer overall payoff period.  The longer term results in making your overall loan cost more expensive.

Bad Credit – Best Online Short-Term Loans

Short-term or cash advance loans are usually the types of loans that are offered by no credit check lenders.  However, not all short-term loans are as dangerous as those that don’t require a credit check. By checking your credit, some short-term lenders can limit their risk.  This lets them charge lower fees than those who don’t check credit at all.  The best way to find a short-term loan with minimal fees is to shop around and compare options.  An online lending network can provide access to a large number of potential lenders.  This lets you compare the rates and fees of multiple lenders from a single application.

4 MoneyMutual

  • Short-term loans up to $2,500
  • Online marketplace of lenders
  • Funds available in as few as 24 hours
  • Simple online form takes less than 5 minutes
  • Trusted by more than 2,000,000 customers
  • Not available in NY or CT


  • Loans from $500 to $10,000
  • All credit types accepted
  • Receive a loan decision in minutes
  • Get funds directly to your bank account
  • Use the loan for any purpose

If you are looking for a short term loan, a reputable lender that checks your credit can usually charge cheaper rates.  Short-term loans from reputable lenders can be more affordable than the ridiculously expensive no credit check loans.  Therefore, most short-term or cash advance loans are going to be pricier than an installment loan.  In most cases, it is safer and cheaper to use a personal installment loan if you can qualify. If you do need a small short-term loan, research the lender carefully.  Also, never borrow more than you can pay off in your initial loan period.

Bad Credit – Best Credit Card Loans

A personal credit card may actually be a good solution when you have poor credit.  Of course, it depends on your financing needs.  But credit cards can be an option, particularly if you only need to finance a small amount.  Credit cards usually have lower interest rates than short-term loans.  Also, they are revolving credit lines, so you can use them again once you’ve repaid the balance.  There are credit cards that specialize in helping low credit score borrowers.

6 Fingerhut Credit Account

  • Easy application! Get a credit decision in seconds.
  • Build your credit history – Fingerhut reports to all 3 major credit bureaus
  • Use your line of credit to shop thousands of items from great brands like Samsung, KitchenAid, and DeWalt
  • Not an access card

7 Total Visa Card

  • Checking account required
  • Fast and easy application process; response provided in seconds
  • A genuine Visa card accepted by merchants nationwide across the USA and online
  • Manageable monthly payments
  • If approved, simply pay a program fee to open your account and access your available credit
  • Reports monthly to all three major credit bureaus

8 First Access Visa Card

  • Get the security and convenience of a full-feature, unsecured Visa® Credit Card – accepted at millions of merchant and ATM locations nationwide and online
  • Reporting monthly to all three major credit reporting agencies
  • Perfect credit not required for approval; we may approve you when others won’t
  • Easy and secure online application
  • If approved, pay a Program Fee and you can access the $300 credit limit (subject to available credit)

Credit card applications usually come with a credit check.  However, you can often check for pre-qualification offers before you apply to get an idea of your chances for approval.  Although not a guarantee of approval, being pre-qualified can indicate that the card may be a good fit.  Pre-qualification uses a soft credit inquiry that won’t impact your credit score.  It lets you avoid risking a hard credit check on a credit card for which you have little chance of approval.

Alternatives to No Credit Check Loans 

If you need fast cash, you may be able to find alternatives to no credit check loans.  Start by talking to family members, credit counselors, religious organizations and community nonprofits. Here are more options:

9 Credit Unions

Most credit unions offer small-dollar loans of $500 and above.  They are often willing to work with you to make the payments affordable. Many also have starter credit cards or loans to help you build a credit history. Even if your credit is poor, your local credit union may be worth a shot.  The interest rate charged by a federal credit union is capped at 18%.

10 Payday Alternative Loans

Known as PALs, these loans help small-dollar borrowers avoid the debt trap created by traditional payday loans.  Some federal credit unions offer these loans to members who need short-term cash. The terms typically include loan amounts ranging from $200 to $1,000.  The repayment term is usually from one to six months, and the APR doesn’t exceed 28%.  To qualify, you typically need to be a member of a credit union that offers the loans for at least one month.

11 Online Lenders

Lenders like OneMain and Avant consider borrowers with poor credit, even with scores below 600. OneMain has higher rates but provides faster access to cash.  Avant is a good option for debt consolidation.  Other lenders like LendingPoint and Peerform consider factors apart from credit score, such as employment status and income. However, watch for any additional fees that drive up costs.

12 Co-signed Loan

If you can’t get approved for a decent personal loan on your own, you may have better success with a co-signer who has good credit.  Finding someone to co-sign can be difficult if you have a history of defaulting on loan payments.  That’s because the co-signer will be on the hook for the debt if you stop paying. So while this can be a good solution, it may not be practical for everybody.  Family members who want to help, or close friends are the best place to look.

Beware – The Loan Offer Could be a Scam 

Beware of unsolicited offers for personal loans with no credit check.  You might encounter illegitimate offers and scams. If you have bad credit and need money, scammers may try to get your personal information or even your money.  Scammers are not likely to be interested in your credit history.  They are usually more interested in your personal information.  This would include your Social Security number and current bank account details. They may also try to charge you an upfront fee to process the loan paperwork. If any of this happens, beware.  Here are some other signs that the loan offer may be a scam.

  • The loan is offered over the phone
  • The lender isn’t registered to operate in your state (check your state’s attorney general’s office)
  • You can’t find a physical address for the lender
  • You’re being asked to send money to an individual

No Credit Check Loans – Bottom Line

Getting a personal loan with bad credit can be difficult.  But, you shouldn’t resort to loans with sky-high costs either. Before you think about trying to get a personal loan with no credit check, consider alternatives.  They can save you money and prevent you from entering a cycle of debt that can be difficult to escape.  Avoid the temptation to find financing without the perils of a credit check.  This can be especially appealing after being rejected for other loans.  But, that temptation can get you in over your head – financially.  Before signing up for a risky loan with no credit check, be sure you’ve exhausted all of your better, more affordable options.  Even if you’re down to your last resort, seriously consider whether you can repay the loan — and all its fees — on the due date without an extension. If you can’t, then avoid no-credit-check loans altogether.

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