- Long-term Loans of up to $5,000
- Money Deposits within a Day
- Affordable Monthly Payments
- Bad Credit OK
- No Impact on Your Credit Score
Having a poor credit history may block your path to obtaining unsecured personal loans. But if you have some bills to pay or vacation to finance, getting extra money fast may be a priority. For such situations, no credit check installment loans were created. These loans suit borrowers who don’t have a good credit score.
At 1F Cash Advance, we can provide you with cash within just one business day. You don’t need to undergo hard credit checks or pay extra fees for applying.
Can I Get an Installment Loan without a Credit Check?
Getting an installment loan without a credit check is possible if you request it from the right lender. However, it’s important to be precise about what is behind a “no credit check loans” definition.
When loan providers advertise their products without credit checks, they typically mean that they use alternative sources to review your payment and credit history. Thus, a no credit check loan is simply an option that involves no inquiries through three major credit bureaus.
Do No Credit Check Installment Loans Available to People with Poor Credit?
Lenders that offer no credit check installment loans are usually more permissive than conventional ones. Thus, they are not worried about a borrower’s credit score. Instead, they use criteria such as your solvency and debt-to-income ratio to estimate an applicant’s creditworthiness. Having poor or bad credit won’t hold you back from getting loan approval if you earn enough to cover your loan payments.
No Credit Check Installment Loans vs Payday Loans
Both no credit check installment loans and payday loans are fast and accessible for people with less-than-perfect credit. This is where their similarities end. Let’s take a look at how these two options differ.
A payday loan is a cash advance loan with an amount limited to $1,000 and a repayment period by a borrower’s next paycheck. Payday lenders require a loanee to repay the borrowed money in one lump sum, which makes payday loans more difficult to manage. On top of that, payday loans have higher than national average interest rates. In terms of an annual percentage rate, they can cost as much as 400%.
An installment loan is an option with flexible repayment terms and a loan amount of up to $5,000. Instead of making a single lump-sum payment, you can split your loan cost into up to 60 parts and cover it in a set number of scheduled monthly payments. Additionally, an installment loan usually has a lower interest rate compared to an option till payday. However, a longer repayment period may result in a higher total loan cost.
Summing up, payday loans are short-term options that people use to cover small emergencies. Installment loans can be used to finance big purchases or various life events while remaining affordable.
Benefits of Installment Loans with No Credit Check
Installment loans with no credit check come with a few noteworthy advantages:
- Fast and easy loan processing. Soft credit checks that installment loan lenders make can be completed in a few minutes, so you will get your loan decision shortly after submitting an application form;
- No impact on your credit score. As there are no hard credit report checks performed, your credit score won’t be affected as long as you make your payments on schedule;
- Quick money deposits. Most borrowers get their installment loan funds within just one business day;
- Borrowers with any credit scores can qualify. An installment loan lender usually doesn’t set minimum credit score requirements, so your credit rating is not a determining factor.
How to Get Installment Loans with No Credit Check from 1F Cash Advance?
The application steps for installment loans with no credit check are quite simple. Here's what you need to do:
Complete a loan request form on the website. It takes just a few minutes.
Get an approval decision. One of our direct lenders will review your data quickly and send you a response within an hour or less.
If approved, sign a loan agreement. Read it thoroughly before signing to make sure you fully understand the terms.
Receive the funds. In most cases, a direct deposit reaches a borrower's checking account within one business day.
What Do You Need to Apply for Installment Loans Online with No Credit Check?
Our service makes it easy to apply for installment loans online with no credit check. There are just a few requirements you need to meet and some basic information to specify in your online loan request form. This includes:
- Be an adult in your state (typically 18 years old);
- Have a government-issued photo ID;
- Have an active bank account;
- Verify your stable source of income;
- Provide some personal and contact details, such as your full name, cell phone number, email, residential address, and Social Security number.
How 1F Cash Advance Differs
At 1F Cash Advance, we help people get flexible loan solutions by connecting them with trusted direct lenders. We use smart algorithms to make it easier and faster for you to find the best possible loan offer on the market. By filling out just one simple form, you can access multiple loan options from credible loan providers.
We value your trust and do our best to make the entire process quick, convenient, and safe. Apply now and get your competitive loan offer within one hour! If approved, the money will arrive in your bank account within just one business day.