christmas loans bad credit
christmas loans bad credit

Christmas Loans

  • Only soft credit checks
  • Guaranteed approval decision
  • Reasonable interest rates
  • Perfect for major Christmas expenses
Written by Michael Lefler | Reviewed by Latoria Williams

Holiday expenses are overwhelming when you don’t have a budget for every present. But your holiday party will be more pleasant if every guest receives a perfect present, won’t it? Christmas loans are the most suitable financial solution you can get during the holiday season. Borrow money for gifts, celebrations, food, decorations, and more, all in a lump sum, and enjoy your holidays.

What is a Christmas Loan?

A Christmas loan is a financial product you borrow from lenders, such as banks, credit unions, or online loan providers, to cover your holiday spending. Christmas loans exist in different types that vary by amounts, repayment terms, and charges. A Christmas loan may have fixed rates or variable rates. They are available through a loan application, be it online or offline. Usually, Christmas loan lenders welcome all types of borrowers who need to cover their holiday purchases.

How Do Christmas Loans Work?

Christmas loans work straightforwardly as other types of loans. Here is the process described:

  1. Loan requesting. You complete the loan application with the necessary information about yourself and your financial situation.
  2. Approval decision. After you submit the Christmas loan application form, wait for the loan approval decision. Usually, it takes from several minutes to one hour.
  3. Loan agreement. If approved, you will receive the Christmas loan offer containing the term, interest rate, and other fees. Once you agree to these terms and conditions, sign the loan contract.
  4. Christmas loan funding. The lender will transfer the funds to your bank account within one business day. Same-day funding is also available.
  5. Repayment process. You must repay the Christmas loan principal plus its cost on the due date. Payment might be made with cash, withdrawals, or postdated checks.

How to Get Christmas Loans for Bad Credit?

You must go through the following steps to get a Christmas loan for bad credit.

  • Prequalify by completing the loan request form;

  • Choose the loan amounts that fit your financial needs and check interest;

  • Submit the application form;

  • Receive your money within 24 hours.

Pros & Cons of Christmas Loans

Before applying for Christmas loans, 1F Cash Advance suggests you consider the following pros and cons that will help you make an informed decision:


  • Quick access to funds that will help you pay for gifts;
  • No excellent credit score is needed;
  • Wide range of available loans;
  • No collateral is required;
  • Flexible repayment terms.


  • Potential high APR cost for bad credit;
  • Origination fees may be charged;
  • Late payments may affect your credit score.

apply for Christmas loans to cover holiday expenses

Things to Consider Before Borrowing Loans for Holiday Expenses

Before you get a Christmas loan, here are a few things to think about:

Eligibility Criteria

Most lenders check borrowers’ income; they want to see if applicants can pay off the debt after the holidays. This verification is available to bad credit borrowers. The lender won’t check their credit scores through major credit bureaus and won’t require any collateral.


Some lenders allow you to prequalify for a loan by performing a soft credit check, which does not affect your credit ratings. Submitting several prequalification forms will assist you in narrowing your selection of lenders and comparing offers.

One Sum or Monthly Payments

Christmas loans may be payday or installment loans, which include one payment or monthly installments and a set repayment schedule. It implies they’ll have to make monthly payments over a set period. You should budget for this and make sure you can afford the payments.

Interest Rates

Christmas loans often have higher interest rates than credit card interest rates, depending on loan conditions and credit history. Sift through the conditions and calculations to discover if a payday or personal loan would save you more than a credit card.

Fast Direct Deposit

When you pick an online lender, the application and funding procedure is usually quick and straightforward. If accepted, you might have your loan the next business day, giving you extra time to prepare for the holidays.

How Much Can You Borrow with Christmas Loans?

The borrowers who need money for the holiday season may get up to $5,000, depending on the loan type. Payday loans offer lower amounts than personal loans—the worse your credit score, the lower the loan amount. To get more information, ask your lender about what loan amount you may qualify for.

Is There a Guaranteed Christmas Loan?

No lender may guarantee you a loan. First, they need to check your credit situation and see if you can pay the loan on time. Then, you’ll receive a guaranteed approval decision. You’ll know if you were approved or denied within one hour.

What are the Easiest Loans to Get Approved for Christmas?

You may apply for different types of loans depending on your financial necessities. Check the following loan products and decide what better fits your situation:

Payday Loans

You can get payday loans from direct lenders within 24 hours or sooner, even with poor credit. They offer from $100 up to $1,000 with a maximum term of 31 days. However, the annual percentage rate may exceed 375%.

Short-Term Personal Loans

A short-term personal loan has a lower interest rate than a payday loan. It doesn’t exceed 36%; the maximum amount you may get is $5,000. The repayment schedule varies from 6 months to 24 months.

Credit Union Loans

Most credit unions offer discounts for new members. Usually, credit union loans are cheaper compared to payday and personal loans. A federal credit union is a perfect solution if you live in a small community that helps needy consumers.

Credit Card Cash Advances

Your credit card may help you pay holiday expenses and cover the debt after the holidays. However, you must keep your credit limit at zero or above to avoid credit issues. If you need more money and don’t want to increase your credit utilization ratio, consider increasing your credit limit.

Where Can I Get Money for Christmas?

You can shop around and find lenders that provide Christmas loans with reasonable interest rates and flexible repayment terms. If you don’t know how to compare these loans, rely on 1F Cash Advance! We will help you find the best Christmas loans fast. All you need is to apply on our website and prequalify with our lending partners. They provide suitable Christmas loans within only one business day.

Practical Advice from Latoria Williams

  • Shop for lenders who perform only soft credit checks.
  • Check the repayment terms and see if you can pay off the debt after the holidays.
  • Stick to your Christmas budget to avoid the debt cycle.

Michael Lefler

Written by: Michael Lefler

Published: Dec 8, 2023