Bad Credit Loans Guaranteed Approval
Rest assured, you'll get the money you need!
- Safe and secure application
- No hard credit checks
- Allmost immediate approval
- Fast money transfer
Sometimes life takes unexpected turns, and you may end up needing emergency cash in order to fix your car, cover a medical bill, or pay rent because you lost your job. Whatever the case, there are times when we need cash fast.
When you have good credit, dealing with financial emergencies is easier, since you can take a loan from the bank, credit union, or get a cash advance on your credit card.
But what if you have bad credit? Can you apply for a loan with guaranteed approval?
Your options become limited when your credit is less than perfect. However, that doesn’t mean you can’t get a loan to overcome your financial difficulties. In such situations, bad credit loans with a guaranteed decision are a suitable solution.
Do Bad Credit Payday Loans Guaranteed Approval Exist?
Having bad credit drastically lowers your odds of being approved for a traditional bank loan. However, some loans are specifically designed for borrowers with poor credit scores. Although with these loans for bad credit the borrowers might easily be approved for, calling them “guaranteed approval” is not correct because nobody in the lending industry can guarantee loan approval.
The best loans with high chances of approval for bad credit are payday loans. These high interest rate loans should not be treated like bad credit personal loans or installment loans. While taking an almost instant reply on your loan request, the lenders don’t perform a traditional, hard credit check, making them a good source of emergency loans.
A payday loan is a type of short term borrowing solution with a quick loan decision that can help you cover emergency costs when you need cash fast. The loan amounts are small and range from $50 to $1,000, depending on your needs and the state where you live. The repayment period is typically two to four weeks, your loan with bad credit becoming due on the next paycheck.
Bad Credit Loans Options
Unsecured payday loans
With an unsecured loan, the lender determines how much they can give you based on your paystub amount. States have their own rules regarding the maximum amount of money you can borrow.
Unlike requesting an unsecured personal loan or an installment loan, having good credit is not a requirement. Therefore, many people who apply for payday loans may become eligible. However, your request can be denied if the lender determines that your monthly income is not sufficient to cover the repayment of the debt.
The minimum eligibility requirements are as follows:
- be at least 18 years old
- be a US citizen
- provide proof of regular income
- have a valid checking account
- have a valid email address and phone number
Secured title loans
In order to take a secured loan, you need to provide some sort of collateral, such as your car title, to back up your debt. This is why these loans are also called title loans.
When you ask for a secured short-term loan, you need to give the lender the title to your car, and you can borrow an amount that is proportional to the value of your vehicle. The title stays with the lender until you repay in monthly payments the principal along with interest and fees. If you can’t pay back the cash you borrow, there is a chance that you may lose your car.
Benefits of Guaranteed Payday Loans
Convenient, secure and easy process
You can apply for a payday loan for any financial emergency. The entire process takes only a few minutes, and everything happens online. You can use any device. As a result, you don’t need to leave the comfort of your home to visit a loan store or to stand in line at the bank. Moreover, you could rest assured the provided personal banking information is secure.
No credit check loans
Direct lenders have flexible credit requirements for loans and don’t run hard credit checks. That means they don’t report your loan application to traditional credit bureaus. Payday lenders are more interested in your ability to repay the money, rather than on your credit history. Therefore, even if your credit score is poor, you might get approved. You will get a guaranteed loan decision (not guaranteed approval) on your application, whether it’s positive or negative.
Opportunity to improve credit score
As you make your payments and repay your bad credit loan amount in a timely manner, you have the opportunity to rebuild your credit history and undo financial mishaps in the past. This is because many lending companies do report payments to credit reporting agencies.
No employment verification
Getting a short-term loan does not involve verifying your employment. It’s sufficient to meet minimum income requirements by proving that you have a regular income. This way, you have the opportunity to make sure that no one at work knows you have applied for a payday loan.
Instant loan decision
Payday loans are one of the fastest solutions for people with low credit scores and small salaries. You don’t have to wait for days. Within minutes of submitting your completed form, you get an offer from one of our online lenders, along with their terms and conditions. If you don’t like their offer, payment terms, or interest rates, you may opt for products and services provided by other lenders.
Fast money transfer
Because all borrowing processes happen online, the money transfer will take very little time. If you apply early in the day, you could get the money before banks close. Otherwise, you’ll receive the funds as soon as the next working day.
How do Guaranteed Payday Loans From Direct Lenders Work?
While no one can promise you guaranteed approval, in order to get a guaranteed decision on a loan request, you must fill out an easy online application form, providing only basic information.
First, our customers must specify the amount of money they need. Then, they enter their personal details and also provide a contact number at home or at work. As soon as they press enter, we connect them to a vast network of top-rated lending companies.
So you will most likely be approved and will receive an offer from one of our direct lenders. If their conditions are not to your liking, you might get offers from other lenders. An advantage of working with us is that you’ll be able to find the best deal possible within a short period of time. Also, there is no fee for this service. Our services are completely free of charge.
After you agree on the loan terms, your lender will deposit the loan directly on your bank account. The money will be available on the next business day.
How Fast is it to Get a Bad Credit Payday Loan?
Our lenders are capable of deciding on your loan request very quickly. Since most applicants become eligible, the approval will be almost immediate. All processes will be complete in less than an hour. The funds are also transferred very quickly within one working day.
To improve the response time, we recommend applying during regular business hours and on a business day. Banks don’t work on holidays, and this will slow down the funding process.
Also, make sure that you enter all your information correctly and spell everything without mistakes. Typos on your loan form will result in higher processing times since they can’t be processed automatically and require attention from a customer service representative, or even in denial of your loan request. So, check your details twice before hitting the send button.
Commonly Asked Questions
The approval process doesn't entail a hard credit check, which means you can have poor credit. Therefore, applying for this type of loan will not negatively affect your credit score. Make sure you pay back the debt on time.
No, there's no guaranteed approval. Although payday loans have minimum eligibility requirements, there are certain checks (including a soft credit check) that you have to pass before you become eligible for bad credit payday loans. Take precautions if you see a lender that guarantees approval or require an upfront payment.
Lenders let you use your cash advance to cover different financial needs, but most customers use it for financial emergencies and unexpected expenses like medical bills or paying their rent (rather as an exception). Covering credit card debt and making large purchases is not recommended.
A payday loan fee range from $10 to $25 per $100 borrowed. This equals an interest rate of 10 to 25 percent, but when expressed in APR, it is usually higher than 400 percent. However, it is true that they come with higher interests and fees.
Different states have different regulations, but borrowers could typically require $50 to $1,000 with a payday loan. Be sure you can pay back the amount you borrow to avoid falling into debt trap. Installment loans allow you to borrow up to $5,000.
Most lenders let borrowers roll over the debt if they can't make their payment. It means they may end up in a cycle of debt.