Written by: Eric Bank
Edited by: Lillian Guevara-Castro
Reviewed by: Ashley Fricker
When your credit is bad and money is tight, payday loans online with no credit check and instant approval can see you through your next paycheck. These loans are not ideal due to the high interest rates they charge. But they are meant to be used only as a short-term emergency loan, which can limit the actual amount of interest you’ll pay.
Online payday loans differ from the ones you get from a brick-and-mortar storefront. A borrower can submit a loan application 24 hours a day from the comfort and safety of their home, and the money should appear in the borrower’s bank account by the next business day.
If you meet the simple prequalification requirements, you’ll receive instant approval without damaging your credit score.
Online Payday Loans With Instant Approval Decisions
The nine companies reviewed here are in the business of prequalifying and connecting cash loan requests to the lenders on their networks. Most give you a choice between a true guaranteed payday loan and a short-term installment loan.
A bad credit score is not a dealbreaker because a borrower can instantly prequalify for a small loan without a credit check. After you prequalify, you’ll be matched to one or more direct lenders that will give you an instant decision and next-day funding.
1. MoneyMutual
- Short-term loans up to $5,000
- 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 million customers
- See official site, terms, and details.
| Loan Amount | Interest Rate | Loan Term | Loan Example |
|---|---|---|---|
| Up to $5,000 | Varies | Varies | See representative example |
Located in Las Vegas, MoneyMutual has been facilitating bad credit loans since 2010. You can submit a loan application for a bad credit payday loan that you repay on your next pay date, or you can request a short-term loan that you repay in as few as three monthly payment installments. To prequalify, you must be at least 18 years old and collect a regular income of at least $800 a month.
- Personal loans from $500 to $35,000
- All credit types are considered and welcome
- Simple, no credit impact form
- Helping consumers since 2001
- 4.7 out of 5 Trustpilot rating with 2,000+ reviews!
- See official site, terms, and details.
| Loan Amount | Interest Rate | Loan Term | Loan Example |
|---|---|---|---|
| $500 to $35,000 | 5.99% - 35.99% | 60 Days to 72 Months | See representative example |
The 24/7 Lending Group is another lending network with high-dollar loans for good credit borrowers, but it can also match you with an offer for an instant payday loan. Preapproval will require a soft credit check that won’t affect your credit score.
3. CashUSA.com
- Loans from $500 to $10,000
- Receive a loan decision in minutes
- Get funds directly to your bank account
- Use the loan for any purpose
- See official site, terms, and details.
| Loan Amount | Interest Rate | Loan Term | Loan Example |
|---|---|---|---|
| $500 to $10,000 | 5.99% - 35.99% | 3 to 72 Months | See representative example |
Also headquartered in Las Vegas, CashUSA is a personal loan service that arranges installment loans that charge less interest and offer larger cash loan amounts than those available from a payday loan. You must be 18 or older and have a post-tax income of at least $1,000 per month to prequalify. This company is our choice for an online lender when MoneyMutual’s small loan limit won’t meet your needs.
- Quick loans up to $5,000 as soon as tomorrow
- Submit one form, get multiple options
- All credit ratings welcome — good or bad
- Requires a checking account and $800 minimum monthly income to apply
- No collateral or cosigner required
- See official site, terms, and details.
| Loan Amount | Interest Rate | Loan Term | Loan Example |
|---|---|---|---|
| $250 to $5,000 | Varies | Varies | See representative example |
The same online lender company owns InstallmentLoans.com and MoneyMutual, so you’ll experience the same fast prequalification and referral to a network of lenders. Expect an instant decision, and if you choose a payday loan, no credit check. Or you can save money with a personal loan that you repay in three or more monthly payment installments.
- Loans from $250 to $5,000
- Cash deposited directly into your account
- Get money as soon as tomorrow
- Bad credit OK
- More than 750,000 customers since 1998
- See official site, terms, and details.
| Loan Amount | Interest Rate | Loan Term | Loan Example |
|---|---|---|---|
| $250 to $5,000 | Varies | Varies | See representative example |
Operating out of Tampa, CreditLoan can prequalify you for a short-term personal loan despite your bad credit. You will be instantly prequalified if you meet the simple age, income, and bank account requirements and can use the loan proceeds for any purpose if you receive final loan approval. You also have the flexibility to opt for a longer-term loan and stretch out repayments over several years.
- Loans from $500 to $10,000
- Get connected with a lender
- Simple form & quick funding
- Get your money as soon as next the business day, if approved
- See official site, terms, and details.
| Loan Amount | Interest Rate | Loan Term | Loan Example |
|---|---|---|---|
| $500 to $10,000 | 5.99% - 35.99% | 3 to 60 Months | See representative example |
Bad Credit Loans can prequalify your loan request even if you have a poor credit history — or no history at all. The company was founded in 1998, operates under Nevada state law and can help you borrow up to $10,000. Its reputable lender network offers personal loans at reasonable rates compared with the three-digit APRs charged for most payday loans.
- Loans from $250 to $35,000
- Large lender network
- Fast loan decision
- Use the loan for any purpose
- Funding as soon as one business day, if approved
- See official site, terms, and details.
| Loan Amount | Interest Rate | Loan Term | Loan Example |
|---|---|---|---|
| $250 to $35,000 | 5.99% - 35.99% | 3 to 72 Months | See representative example |
PersonalLoans.com can quickly arrange small or large personal loans in all 50 states. Borrowers can receive instant prequalification without a hard credit check when they meet the required minimum of $500 in monthly income. The network contains a mix of lenders, some of whom may ignore credit scores and others that may set a minimum score threshold.
- Small personal loans starting at $100
- Receive an approval decision in as little as 2 minutes
- Funds can be deposited into your account in one business day and used for any purpose
- No hidden fees
- See official site, terms, and details.
| Loan Amount | Interest Rate | Loan Term | Loan Example |
|---|---|---|---|
| $100 to $20,000 | Varies | Varies | See representative example |
SmartAdvances.com can find you an instant payday loan offer without a hard credit inquiry. Simply answer a few questions, such as the amount you’re seeking and personal contact details, to see whether you qualify for a loan offer.
- Short-term loan of $100 to $1,000
- Large network of lenders
- Loan decision as fast as a few minutes
- Funding as soon as the next business day, if approved
- See official site, terms, and details.
| Loan Amount | Interest Rate | Loan Term | Loan Example |
|---|---|---|---|
| $100 to $1,000 | 200% - 2,290% | Varies | See representative example |
CashAdvance can help connect you with a direct payday lender that arranges payday loans you repay when you receive your next paycheck. It has been operating since 1997 to help consumers with bad credit obtain short-term cash quickly and without credit checks. To prequalify for a payday cash advance loan, you must earn at least $1,000 per month after taxes.
Can I Get a Payday Loan Online?
Many consumers with bad credit have difficulty finding receptive lenders. A guaranteed payday loan solves this dilemma by approving quick loans based on your income, not your credit score.
You can get a payday advance at a local storefront, and that may be the fastest way to put cash in your pocket. But it may also require travel during working hours to areas of town that may not be close or familiar.
An online payday loan is much easier. Although the income and job requirements may be the same, you can request an online loan on your computer and at your convenience.
However, payday loans are not legal in every state. If you’re in a state that bans these loans, you may be offered another type of quick loan with reasonable rates and terms.
The lending services reviewed in this article save you a lot of time by giving you access to large networks of direct lenders after you complete one short loan request form. There is no charge for this service and no obligation to accept any loan offers.
Anyone can need a cash emergency loan, but online payday loans help workers borrow funds, usually available by the next business day. Basically, if you earn wages, your chances are good that you’ll be approved for a payday loan, albeit at a high interest rate, without reference to your credit score.
How Can I Get Money Fast Without a Credit Check?
The process of getting quickly prequalified for an online loan without a credit check is essentially the same for all nine of the reviewed loan services. You’ll have to provide some personal data to prequalify, including:
- Who you are: You’ll be asked to provide your name, address, work and home phone numbers, and a valid email address.
- How old you are: You must be at least 18 years old (some states may set a higher minimum age).
- Where you live: You must be a U.S. citizen or permanent resident with a valid Social Security number or other approved taxpayer identification.
- How much you earn: You must collect a specified minimum in income or benefits each month.
- Where you bank: You must have an active checking account registered in your name at your financial institution — a bank or credit union.
If you satisfy these requirements, the lending service should instantly prequalify you for a bad credit loan and connect you to a direct lender’s website. At this point, you can choose to complete the application process by providing any additional data needed by the lender.
If you are seeking a payday loan, it’s quite likely that lenders will limit their credit checks to soft pulls, thereby preserving your already fragile credit score. On the other hand, personal loan providers usually do a hard credit check, but that isn’t necessarily a problem because the lenders on these networks regularly accommodate bad credit borrowers.
You will virtually always get a same-day loan decision, and if approved, you’ll be asked to e-sign a loan agreement. After carefully reviewing and signing it, you can expect the transfer of the bad credit loan proceeds to your checking account within one to two business days.
Are There Any Guaranteed Approval Loans?
Guaranteed is a tricky word when it comes to loans — no lender can guarantee approval. And even loans guaranteed by the federal government require you to divulge private information and complete the required paperwork.
We can say a few things about the guarantees offered by the reviewed lending services. First, you are guaranteed a fast prequalification decision if you provide the required data, and it satisfies the minimum requirements.
Second, the lending service will not do a hard credit check during the prequalification process.
Third, you are guaranteed that the lending service will immediately query its network of lenders to find you a suitable loan provider. The lending service will connect you to the lender that responded positively to your loan request.
Here is what is not guaranteed:
- There is no guarantee that a direct lender will step forward to take your application for a loan after you have successfully prequalified.
- There is no guarantee that you will be offered the loan amount or terms that you seek.
- You, on the other hand, do not guarantee that you’ll accept any loan offers.
The direct lender may or may not make a hard inquiry on your credit, depending on the type of loan you want. Generally, a payday lender doesn’t need a hard inquiry, but a personal loan usually will trigger a hard pull.
Finally, it’s guaranteed that a payday advance will not allow you to boost your credit score because your on-time payments are not reported to a credit bureau. However, collections and write-offs will be reported, thereby tanking your credit score even further.
How Soon Will I Have to Repay the Loan?
Instant payday loans are meant to be repaid when you receive your next paycheck — normally in the next week or two. If you can’t fully repay the loan at that time, it will roll over to your next pay date, triggering additional fees and interest.
Rolled-over payday loans are dangerous because the fees and interest compound each time. If you aren’t careful, you could wind up in a debt spiral that leads to bankruptcy. The following map shows how many times a payday loan rollover is permitted in each state:
Personal loans are a lot safer because you have, at minimum, a three-month loan term — and possibly much longer (up to a 72-month loan term) — to repay them. They also charge interest rates no higher than 36%, compared to the 300% to 2,000% APRs on payday loans.
While personal loans have relatively low APRs compared with those for instant payday loans, they still can be expensive as the loan increases. In fact, a personal loan may end up costing you more than quick payday loans because of the longer period in which you are paying interest.
Can I Get a Loan With a 450 Credit Score?
You can get a bad credit payday loan with any credit score or no credit history at all. These quick loans depend on your income, not creditworthiness.
Of course, if you have been convicted of multiple fraud felonies, you are unlikely to get an unsecured loan from anyone.
However, a secured loan, such as a car title loan, home equity loan, cash advance loan from a credit card, or a pawnshop loan, is usually immune to a poor credit score. Your collateral backs up these loans, removing the risk that the lender will not get repaid.
Compare Payday Loans Online With No Credit Check & Instant Approval
Our review of payday loans online with no credit check and instant approval should come as welcome information to consumers with bad credit. You can confidently contact one of these lending services by clicking on the START NOW link when you need a same-day loan.
Each of the nine reviewed companies can immediately prequalify you without a hard pull of your credit file and connect you to a direct lender comfortable with all types of credit. A payday loan lender will charge high interest rates, so you may want to consider a much less expensive personal loan instead, also available from most of the reviewed companies.
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