A financial emergency may crop up at any time. You may look to borrow money from someone you know, but not everyone around you may be in a position to offer help. Or, you may be too embarrassed to ask your relatives or friends for monetary help. In such situations, your best bet would be to turn to moneylenders.
But, when you apply for a loan, your credit score may play spoilsport. That occasional missed housing loan installment, forgotten credit card payment, or the running personal loan may upset your plans. In such a case, a no-credit-check loan can come as a huge relief.
Banks and moneylenders generally check your credit score before approving the loan. If your credit score falls below 450, it is considered poor, and your loan application gets rejected.
For no-credit-check loans, lenders consider other factors besides the credit score. They check your bank account statement, credit history and previous paychecks to ensure you have a steady income.
Many people are unaware of no-credit-check loans, and those who are aware struggle to find a reputable lender. Most lenders will try to maximize their profit off your situation. So, to make your job easier, we have listed five of the best no-credit-check lenders. These sites help you choose lenders who offer you good deals on no-credit-check loans.
Top 5 Picks For No Credit Check Loans
- MoneyMutual : Overall Best Direct Lender For No Credit Check Loans
- BadCreditLoans : Runner up, Best Online Lender For Online Loans WIth No Credit Check
- CashUSA : Best For Installment Loans
- Personal Loans :Popular Online Lender for Personal Loans
- Credit Loan: Instant Fast Loans
#1. MoneyMutual: Overall Best Direct Lender For No Credit Check Loans
The first platform on our list is America’s most popular online money-lending platform, MoneyMutual. It was established in Las Vegas in 2010, recognizing the financial need of Americans. It claims that four in ten Americans are not able to come up with $400 in times of an emergency. Since its establishment, over two million people have turned towards MoneyMutual for quick cash.
It is popular for its wide network of lenders, which include over 60. MoneyMutual matches borrowers with their network of lenders, and it does not take any further responsibility. All of your interactions and transactions will take place with your lender.
MoneyMutual has some basic eligibility criteria that borrowers need to meet to apply for a loan. These requirements include:
- You should be at least 18 years old
- You must be a permanent citizen of the U.S.
- You should possess an active checking account
- You need to have a monthly income of $800
The lenders perform no credit checks, so your credit score will not be taken into account when you apply for a loan.
How It Works
When you fill out the form, you must provide some basic information, such as address and other personal details. Your information will be evaluated by the platform after you submit the form, and you will be linked with the appropriate lenders.
After you have chosen a lender, you will be sent to its website, where the rest of the process will take place. The loan’s terms and conditions, payback schedule, and interest rate will all be provided by the lender.
Upon approval of the loan and your agreement to the terms and conditions, the money will be transferred to your account in the following 24 hours. You can get loans for medical expenses, automobile repair, holidays, or other sudden expenses.
- No Credit Check: MoneyMutual performs no credit checks for the loans it offers. It has a detailed guide on bad credit loans on its website, where you will get all of the information you need before you apply for a loan.
- Instant Approval: If you meet the eligibility criteria, you can apply for a loan on MoneyMutual’s platform. Upon approval, the money will be transferred to your bank account by the next business day. If you do not agree to the lender’s terms and conditions, you can get connected to another lender.
- Free Service: The services you use on MoneyMutual’s website are free for all borrowers. So, you can meet as many lenders as you want until you find the one that meets your requirements for no charge. Also, there are no hidden costs.
- Easy to Use: The website is very simple to use, and you can fill out the loan application form without any assistance. With just a few clicks, you will get your loan transferred to your bank account. Also, the FAQs section of the website has answers to all relevant questions.
- Interest Rates: The loan is not offered by MoneyMutual but by the lenders on its platform. While MoneyMutual guarantees that the interest rates are affordable, the accurate rate depends on the lender and the loan amount.
- Wide Lending Options: There are other loan options for borrowers depending on their needs, as you can also get payday loans also known as unsecured loans on the platform. You can choose anything from $200 to $5,000, according to your requirement.
Customers of MoneyMutual often complain that the interest rates of some lenders are higher than normal market rates. Since MoneyMutual is not charging them, they have nowhere to share their grievances.
However, MoneyMutual has served over two million happy customers, which speaks for their reputation. Most borrowers are happy that MoneyMutual does not dig their credit scores and offers a secure platform with wide loan options.
- Trusted by millions of Americans
- Reputable service
- No-credit-check loans
- Loans up to $5,000
- The service is free
- Fast transfer of funds
- Wide network of lenders
- Not available in New York and Connecticut
- You need to show proof of minimum monthly income of at least $800
#2. BadCreditLoans: Runner up, Best Online Lender For Online Loans WIth No Credit Check
BadCreditLoans is second on our list after MoneyMutual. Based in Nevada, it does not offer loans directly. Instead, it offers a free service to match borrowers with lenders, which include both State and Tribal Lenders.
The platform of BadCreditLoans is ideal for anyone in financial trouble. If you do not qualify for a loan on the platform, BadCreditLoans will connect you with lenders who offer other financial assistance, such as credit repair, debt relief, and other credit-related products and services.
You will also get many financial resources — well-written articles by experts on when to take a loan, how to spend responsibly, how to pay off a loan quickly, etc.
The requirements of this platform are simple and are similar to the previous platform. However, meeting the eligibility criteria does not guarantee loan approval. It only means you are eligible to apply for a loan on the platform. Borrowers with poor credit scores can also apply on the platform, and the eligibility criteria include the following guidelines:
- You should be at least 18 years old
- You need to have a valid checking account
- You need to provide some proof of citizenship, like your Social Security Number
- You should be able to provide contact details like phone number, address, and email
- You should have a stable monthly income and be able to provide proof of that
How It Works
You can apply for a loan on the website if you fulfill its standards, and you will be requested to enter the amount you require as soon as you get on the website. Following that, you will be required to complete a form with your personal information, which will be transmitted to various lenders on the site.
If any lender agrees to grant you the loan after examining the form, it will contact you and discuss all details. You can proceed with the transaction if you agree to its terms and conditions, but you will be under no obligation to accept the loan you are offered. The process will be successful only after you put your e-signature in the application. Within the next 24 hours, the funds will be transferred to your checking account.
- Interest Rate: The interest rates vary depending on the lender and the loan amount. But to maintain transparency and ensure the lenders do not charge exorbitant rates, BadCreditLoans has set an APR of 5.99% to 35.99%, and no lender can charge you more than that.
- Loan Options: Personal loans, mortgage loans, business loans, home loans, student loans, and auto loans are available from the lenders of BadCreditLoans.
- Convenient Process: BadCreditLoans has made online loan applications easy with its simple online process. You need to give a lot of personal information when you fill out the form, which may take a few minutes. After you are done, it is only a matter of time before a lender receives your application and you get in touch with them.
- Additional Services: What makes BadCreditLoans so popular among borrowers and makes it stand out in the market is the additional services it offers. If you do not qualify for a loan on the website, you will get services like debt relief, credit repair, and other financial services.
- No Credit Check: If you meet some other loan criteria, you may be able to qualify for a no-credit-check loan from certain lenders. However, many lenders can perform a credit check, and the type of loan and amount will depend on your credit score.
- Customer Support: BadCreditLoans is known for excellent customer support, and they are available 24/7 for any doubts or queries you may have. Their helpful team will guide you and solve your problems over a call or email at any point in your transaction.
Most customers have shared positive and helpful reviews about BadCreditLoans. They have praised the platform for quick approvals and good customer assistance. There has been almost a 100% approval rate for most customers, which is why BadCreditLoans has become a popular choice for people with bad credit scores.
However, many customers have expressed concern over the safety of their information shared on the website.
- Excellent customer support
- Guaranteed loan approval
- Quick funding up to $10,000
- Free service
- Multiple lenders available
- Trusted service
- High-interest rates
- You have to share a lot of personal information
#3. CashUSA : Best For Installment Loans
The third platform on our list, CashUSA, is also not a direct lender but connects you with third-party lenders. Based out of Las Vegas, Nevada, it not only boasts a vast network of lenders but also provides huge educational resources to borrowers. It matches you with the right lender without any service charge. On its website, you can also educate yourself on credit, debt, finances, and banking to make an informed decision. It has one of the largest resource centers for anyone wanting to learn about financial services and products.
Besides providing free service, CashUSA also approves your loan within minutes. No matter what your credit score is, CashUSA does not turn anyone down. As a result, it has earned a reputation for guaranteed loan approval.
You need to meet the eligibility criteria set by CashUSA before you apply for a loan. This includes:
- You should be at least 18 years old
- You should be a U.S. citizen
- You should have a checking account
- You should have a stable income of at least $1,000 a month
- You should be able to provide your email address, work, and home phone numbers
How It Works
You need to fill out the application form requesting a loan on the website, where you will have to provide your personal details, income details, and other information. Once you successfully fill out the form, your application will be forwarded to the network of lenders, as well as to all third-party lenders. If any lender agrees to work with you after reviewing your application, you will receive an offer from them.
You can talk to the lender about all terms and conditions, and if it works out for both of you and you agree to accept the loan offer, you will be required to place your e-signature on the form. Following this, the loan amount will be transferred to your account in less than 24 hours.
If your application is not accepted by any of the lenders, then CashUSA forwards it to other third-party partners for other financial services.
- Quick Approval: Once you submit the loan application, it will take only a few minutes to know if you qualify for a loan. If you do, one of the lenders will get in touch with you in the next few minutes, making the entire process quick and easy.
- Flexible Credit Score: Those with bad credit scores stand a chance of getting a loan approved with CashUSA, as the lenders here focus more on the financial stability of the borrower rather than a credit report. This platform also helps you to get in touch with marketers who can help with credit repair to improve your credit score.
- Educational Resources: A unique feature of CashUSA is its resource center. You can access this on the website, where you can learn about debt, banking, credit, and other financial issues. It is particularly helpful for new users. You can learn about financial issues and get a loan at the same time. Users can make an educated choice on the platform.
- Lenders: CashUSA has a network of both state and tribal lenders. Federal laws are not enforced on tribal lenders. As a result, the rates of tribal lenders are higher than state lenders. You can proceed with what works best for you.
Over the years, CashUSA has become the go-to platform for people looking for loans without any hassle. Customers who have used the website are happy with the overall process of how easy it is to get a loan from the website. They also praise the platform for its excellent customer support, as CashUSA goes out of its way to help its customers.
- Resource center available for everyone
- Free service
- Great customer support
- No credit checks
- Compare lenders before agreeing to the terms and conditions
- Quick service
- Data encryption and strict measures of security
- Need to have a monthly income of $1,000
- High interest rates
#4. Personal Loans: Popular Online Lender for Personal Loans
PersonalLoans.com is equally popular among people with bad and good credit. This platform, based in Utah, connects lenders with borrowers. It has its network of lenders as well as third-party lenders with an aim to make the process of online loans convenient and easy for everyone. Some of the lending partners also offer lines of credit.
Once PersonalLoans.com connects you with a lender, it does not participate in any lending process. Its network of registered lenders is trusted, and you can compare the interest rates before you accept the agreement. If no lenders agree to work with you, they forward your details to other third-party marketers for other credit-related services.
The eligibility requirements include some basic guidelines similar to other platforms mentioned above. You will need to have:
- A social security number
- A valid checking account
- At least 18 years of age
- A stable monthly income
How It Works
PersonalLoans.com has a simple loan process to help you connect with lenders. Once you fill out the form with all personal details, the form will be forwarded to the network of lenders and third-party lenders. You can get different kinds of loans from lenders, which include personal loans and payday loans.
If your application gets approved by any lender, you will get a request to fill out another application form on the website. After reviewing this and understanding all terms and conditions with your lender, if you agree to accept the loan, it will be transferred to your bank account by the next day.
You will get 90 days to 72 months to repay the loan. The term depends on the loan amount, the terms and conditions of the lender, and the loan type.
- Loan Types: Keeping the requirements of everyone in mind, PersonalLoans.com offers fast cash, bad credit, emergency loans, instant loans, and debt consolidation. Depending on your need and eligibility, you may qualify for any of these loans.
- Loan Guide: The website is packed with useful information. You get a guide on each type of loan on the website. This website is particularly helpful for first-time borrowers, who will be guided well and can make the right decision.
Even the application has all the questions explained so that you know why a particular question is being asked.
- Co-Signers Allowed: PersonalLoans.com allows co-signers for your loan. A co-signer makes the entire process of loan approval very convenient. If you get a co-signer to sign your loan application, the credit score of the co-signer will be considered instead of yours, increasing the chance of approval of the loan.
In simple words, if you know someone with a great credit score, get him/her to sign your loan application.
- Easy Website: The website of PersonalLoans.com is user-friendly. You can easily navigate through the different features. With a few easy steps, you can get your loan amount transferred to your bank account.
- Compare Lenders: You do not have to accept the first loan offer you get. You can compare the lenders and their different features before selecting one.
There are only good reviews about PersonalLoans.com. Overall, people are extremely satisfied with their service. From their guide to the instant transfer of the loan amount, their customers have had only happy experiences. Better Business Bureau one of the best credit bureaus has also given an A+ ranking to PersonalLoans.com.
- Up to $35,000 loan amount
- Co-signers are allowed
- Easy-to-use website
- Quick loan transfer
- No hidden charge
- Available in all states
- Loan guides available
- Very particular about approving applications
- Not the right choice for borrowers with bad credit scores
#5. Credit Loan: Instant Fast Loans
The last platform on our list, CreditLoan, also helps borrowers meet a wide network of lenders. Being in the market for 20 years, CreditLoan has proven itself as a reliable platform for both borrowers and lenders.
CreditLoan started with an aim to educate people about personal finances, and since its inception, it has successfully educated more than 33 million visitors on different aspects of personal finances. It provides several financial tools on its website, like mortgage calculators and interest calculators. Even if you do not require a loan at the moment, you can still visit the website to learn about different types of loans and credit issues.
Your eligibility depends on the lender you are working with. Lenders have criteria that borrowers need to fulfill. However, some of the basic criteria remain the same as the above-mentioned platforms, which include:
- You should have a Social Security Number
- You should be a permanent citizen of the United States
- You should have a steady income
- You should have a valid checking account
- You should not have any recent bankruptcies
How It Works
If you have applied for an online loan before, you will be familiar with the process. You need to apply for the loan request first. In the first step, you need to provide information like your state, all personal information, financial information, and other details.
Once submitted, the application will be forwarded to lenders. Once they have assessed your application, you will be notified within a few minutes whether you prequalify for a loan on the website.
If a lender decides to work with you, you will be directed to its website, where you will see the loan agreement, and you can decide to put your e-signature on it if you accept the loan. You may also receive a call from the lender.
- Lending Network: This is unique to CreditLoan. It has two different networks of lenders—one for borrowers with good credit scores, another for borrowers with poor credit scores. This makes the entire process hassle-free and connects the right lender with the borrower.
- Loan Types: The types of loans offered by CreditLoan include personal loans, auto loans, bad credit loans, and student loans. When you visit each type of loan on the website, you will get detailed information about them, which can help you make an informed decision.
- Loan Amount: It is mentioned on the website that it offers a loan amount ranging from $250 to $40,000. But if you have a bad credit score, do not expect more than $2,500. The lenders won’t offer anything higher.
- Interest Rate: The interest rate can range from 5.99% to 35.99%. CreditLoan does not determine the interest rates. It depends on the lender you are working with and the loan amount.
A few people have expressed grievances about the interest rates being high. However, the platform has good reviews on most review sites. People love the easy access to information on the website and the flexibility of loans. CreditLoan also enjoys an A+ rating by Better Business Bureau.
Before you agree to the loan agreement, make sure you are clear with your lender on every ground. This will help you avoid any unfavorable experiences.
- The website contains detailed information
- No minimum monthly income required
- Reputable company with more than 20 years of experience
- Fast transfer of cash
- Loans are approved with bad credit
- Different types of loans are available
- Easy application
- Not available in New York and Connecticut
- The interest rate is high
How We Made Our List of the Best Platforms to Get ‘No-Credit-Check Loans’ Online
Due to the high demand for no-credit-check loans, numerous online platforms provide these to people in financial distress. We started by making a long list of all the online platforms that are providing no-credit-check loans. This list included all the new lesser-known platforms as well as the reputable platforms that have been in business for a long time.
We set up criteria to separate the best platforms from the rest. We looked for credibility and reputation. It is important to choose a platform that won’t scam you because you should always be extra careful while dealing with financial matters.
We did not trust every platform that is providing good interest rates for no-credit-check loans. After doing extensive background research, reading customer reviews, and talking to people with first-hand experience of dealing with these platforms, we listed the ones in this article.
What We Looked For
How long the company has been in the business, the name it has built over the years, the services of the company, what it is known for—all these factors build a company’s reputation. We have included the companies that are well-known in the market.
Keeping everyone in mind, the application process for a loan should be easy. We have included the websites that require minimum documentation, easy navigation, and no assistance for filling out the application form.
The approval time should be minimal because these loans are required in financial emergencies. Unlike banks, online platforms usually have quick approval and transfer. The entire process can be completed in two to three days.
The loan amount and the process should be flexible. Whether you require $250 or $10,000, the entire process becomes convenient if the platform offers flexibility.
- Transparency in Transaction
The borrower should not be kept in the dark about the lender’s service fees, interest rates, the annual percentage rate, the loan amount s/he qualifies for, and the process of repayment. The platforms that offer complete transparency in these matters have made it to the list.
Whether you are paying for goods or services, the golden rule is to read the customer reviews before you make a decision. These can save you from making a bad decision.
You should be able to trust the company you share your details with. All the platforms selected here maintain privacy regarding the information of the borrowers shared. They maintain high security to ensure that the information is not leaked.
FAQs: No-Credit-Check Loans
Q1: What is considered a bad credit score?
A: FICO Score is the most popular credit score range used by most reputable banks and lenders. The score ranges between 300 and 850. The following is the rank your credit score range implies:
- Excellent Credit: 800–850
- Very Good Credit: 740–799
- Good Credit: 670–739
- Fair Credit: 580–669
- Poor Credit: Under 580
Q2: How do I find out my credit score?
A: Three prominent credit reporting agencies are trusted by everyone—Equifax, Experian, and TransUnion. You can request a free copy of your credit report from either of them. You are entitled to one free copy of your credit report.
Q3: Do I have to pay higher interest if I have a bad credit score?
A: You should be grateful if you can secure a bad credit loan loan with a poor credit score. While most lenders reject loan applications from borrowers with poor credit scores, certain lenders may not consider the credit score if the other requirements are met. However, the interest rates you will be offered will be on the higher side if you have a poor credit score.
Q4: Which platforms offer loans without a credit check?
A: All the platforms mentioned in this article—MoneyMutual, BadCreditLoans, CashUSA, PersonalLoans.com, and CreditLoan—offer loans without a credit check.
Q5: What loan amount can I apply for with a bad credit score?
A: The loan amount depends on the lender. If you have a poor credit score, do not expect a high amount. The better your credit score, the higher the amount will be.
Q6: How fast can I get the loan amount transferred to my account?
A: If you apply for a small amount and before afternoon, the loan can be transferred to your bank account in less than 24 hours. Holidays and weekends may affect the transaction.
Q7: How can I improve my credit score for better loan options?
A: You should try to maintain a good credit score. You can take the help of credit repairs to fix the errors in your credit report. Other than this, try to pay your bills on time, do not close out old credit cards, and do not apply for too many loans.
Q8: Will the loan affect my credit score?
A: Applying for too many credits affects your credit report. When you apply for a loan, the lender runs a hard check on your credit report, causing temporary harm for two years. Even if you apply for too many loans frequently, try to pay them off in due time, as this will help to build your credit score. Do not default payments.
Q9: How do I qualify for a no-credit-check loan?
A: Every lender has different requirements for borrowers. The basic requirements that you need to fulfill include being at least 18 years old, having a stable monthly income, proof of citizenship, and an active checking account.
Q10: Can I get a loan if I am presently unemployed?
A: You may qualify for a loan if you are unemployed, but it depends on the type of loan you are applying for. If you are a student, you may qualify for a student loan. But for emergency loans or personal loans, you need to show a source of income to prove that you can repay the amount to the lender.
A Parting Word About Loans with No Credit Checks
Whether you have a good credit score or a poor one, we hope this article has benefited you. Financial emergencies can hit anyone, and credit scores can go up or down. It is safe to know all the options beforehand in case you ever require a no-credit-check loan.
There are many platforms on the market because of the high demand for no-credit-check loans. Do not waste your time with lenders that may scam you or do not meet your requirements. Compare the interest rates well and do not agree to the first offer you get.
Now that you know all the information related to no-credit-check loans, you can make a wise decision while applying for the loan. The above-mentioned list of platforms—MoneyMutual, BadCreditLoans, CashUSA, PersonalLoans.com, and CreditLoan—are reputable loan online platforms that have made the process of online loans easier and quicker.
So, if you are looking for no credit check loans, it is safe to avoid the long queues of banks and the hassle that follows. Online loan applications will save your time and effort while giving you the loan amount you require.