Credit Check as well as Credit Score are important for both a borrower and a lender. They help to evaluate risks and affect the loan rates, amounts and terms. Compare pros and cons of no credit check Payday Loans and find the lender ready to approve you making a soft inquiry or taking into account other factors such as employment history, income, previous debts, etc.

TOP RATED COMPANIES

Rates last updated December 17th, 2018
4.4705882352941

PAYDAY LOANS USA .ONLINE

$1,000
MAX. loan amount

It’s the maximum sum of cash advance allowed to apply for in the state. It usually ranges from $500 to $1000. But it may vary depending on the lender and his requirements.

16,6%
MIN MPR

The minimal percentage allowed that actually represents the cost of your loan charged for a month. It's more important for the customer as mostly Payday loan are borrowed for a month term and paid off with the next paycheck.

None, unsecured
Collateral or Guarantor

Collateral – is some kind of your property which ensures the lender that you will repay the money. Guarantor – is a person that sings the agreement thus giving his guarantee that you will repay the loan. Payday loans are unsecured which means to get cash advance you don’t need either a collateral or guarantor.

Available for Bad Credit

Has life thrown you an unexpected financial curveball? Need a loan? Bad Credit?  Don’t look any further! PAYDAY LOANS USA .ONLINE is here for You. 100% online short-term Payday and unsecured Personal loans from some of the best direct lenders in the USA.

LEND YOU

$1,000
MAX Loan Amount

It’s the maximum sum of cash advance allowed to apply for in the state. It usually ranges from $500 to $1000. But it may vary depending on the lender and his requirements.

15%
MIN APR

The minimal percentage allowed that actually represents annual cost of your loan. The APR is based on several things, including the amount you borrow, the interest rate and costs you’re being charged, and the length of your loan.

None, Unsecured
Collateral or Guarantor

Collateral – is some kind of your property which ensures the lender that you will repay the money. Guarantor – is a person that sings the agreement thus giving his guarantee that you will repay the loan. Payday loans are unsecured which means to get cash advance you don’t need either a collateral or guarantor.

Available for Bad Credit

LendYou.com is the easy way to find the cash you need when you need it. You’re looking for cash to pay bills, to buy a car or maybe do some work around the house. LendYou.com has the lenders you're looking for. It's easy. It doesn't matter the size of the loan you're looking for… LendYou may be able to connect you with a lender that can help.

The loans you need, when you need them. 

Check Into Cash

$1,000
Maximum Loan Amount

It’s the maximum sum of cash advance allowed to apply for in the state. It usually ranges from $500 to $1000. But it may vary depending on the lender and his requirements.

Varied by state
MIN APR

The minimal percentage allowed that actually represents annual cost of your loan. The APR is based on several things, including the amount you borrow, the interest rate and costs you’re being charged, and the length of your loan.

None, unsecured
Collateral or Guarantor

Collateral – is some kind of your property which ensures the lender that you will repay the money. Guarantor – is a person that sings the agreement thus giving his guarantee that you will repay the loan. Payday loans are unsecured which means to get cash advance you don’t need either a collateral or guarantor.

Available for Bad Credit

Check Into Cash is a national leader in direct lending, providing customers with affordable, short-term, small dollar credit solution. We provide Payday Advances, In-Store Cash Advances, Online Payday Loans, Title Loans, Title Pawns,Check Cashing, Western Union®, walk-in Bill Pay, and reloadable prepaid U.S. Money Cards in our centers nationwide. Check Into Cash is truly your one-stop money shop.

4.3809523809524

CashAdvance.com

$999
Maximum Loan Amount

It’s the maximum sum of cash advance allowed to apply for in the state. It usually ranges from $500 to $1000. But it may vary depending on the lender and his requirements.

15%
MIN APR

The minimal percentage allowed that actually represents annual cost of your loan. The APR is based on several things, including the amount you borrow, the interest rate and costs you’re being charged, and the length of your loan.

None, unsecured
Collateral or Guarantor

Collateral – is some kind of your property which ensures the lender that you will repay the money. Guarantor – is a person that sings the agreement thus giving his guarantee that you will repay the loan. Payday loans are unsecured which means to get cash advance you don’t need either a collateral or guarantor.

Available for Bad Credit

CashAdvance.com is one of the more trusted names in payday loans, and works the same as Trusted Loan Network in that it aggregates lenders to help match the best one for you. They offer a wide range of loans and have some of the lowest APRs in the payday loan business. CashAdvance.com also does not require a credit check, but you do need to be 18, have a source of income and have an open back account. Once you are approved, funds will be deposited in your account the following business day.

ONLINE COMPANIES

Rates last updated December 17th, 2018
4.2777777777778

Payday Loans Low Rates

$1,000
MAX Loan Amount

It’s the maximum sum of cash advance allowed to apply for in the state. It usually ranges from $500 to $1000. But it may vary depending on the lender and his requirements.

16,6%
MIN MPR

The minimal percentage allowed that actually represents the cost of your loan borrowed for a month. It's more significant criterion than APR as mostly Payday loans are borrowed for 14-30 days until the next paycheck.

None, unsecured
Collateral or Guarantor

Collateral – is some kind of your property which ensures the lender that you will repay the money. Guarantor – is a person that sings the agreement thus giving his guarantee that you will repay the loan. Payday loans are unsecured which means to get cash advance you don’t need either a collateral or guarantor.

Available for Bad Credit

THE TYPES OF LOANS THAT WE OFFER ARE AS FOLLOWED:

Payday Loans - a short-term loan which you typically would repay by your next payday or within 30 days. Normally comes with a higher (APR).

Instalment Loans - involves equal periodical repayments over an agreed loan term. No collaterals are needed either, but the APR is normally lower compared to the one of the payday type.

Your Faster Payday

$1,000
MAX Loan Amount

It’s the maximum sum of cash advance allowed to apply for in the state. It usually ranges from $500 to $1000. But it may vary depending on the lender and his requirements.

16,6%
MIN APR

The minimal percentage allowed that actually represents the cost of your loan borrowed for a month. It's more significant criterion than APR as mostly Payday loans are borrowed for 14-30 days until the next paycheck.

None, unsecured
Collateral or Guarantor

Collateral – is some kind of your property which ensures the lender that you will repay the money. Guarantor – is a person that sings the agreement thus giving his guarantee that you will repay the loan. Payday loans are unsecured which means to get cash advance you don’t need either a collateral or guarantor.

Available for Bad Credit

How does YourFasterPayday.com work? You’re looking for cash to pay bills, to buy a car or maybe do some work around the house. YourFasterPayday.com has the lenders you're looking for. It's easy. It doesn't matter the size of the loan you're looking for... YourFasterPayday may be able to connect you with a lender that can help. Fill out the block above to get started.

4.3157894736842

Fast Holiday Loans

$1,000
MAX Loan Amount

It’s the maximum sum of cash advance allowed to apply for in the state. It usually ranges from $500 to $1000. But it may vary depending on the lender and his requirements.

200%
MIN APR

The minimal percentage allowed that actually represents annual cost of your loan. The APR is based on several things, including the amount you borrow, the interest rate and costs you’re being charged, and the length of your loan.

None, unsecured
Collateral or Guarantor

Collateral – is some kind of your property which ensures the lender that you will repay the money. Guarantor – is a person that sings the agreement thus giving his guarantee that you will repay the loan. Payday loans are unsecured which means to get cash advance you don’t need either a collateral or guarantor.

Available for Bad Credit

Get cash for the holidays! Get a loan of up to $15,000 as soon as the next business day! Wrap Up the Holidays with up to $15,000 in Cash! This holiday season, get the cash you need. We’ll connect you with a lender who can provide up to $15,000 to take care of all of your holiday expenses!

Benefits:

  • Easy Online Application
  • Safe and Secure
  • Fast Decision
  • Trusted Source

 Contents:

Credit Check: hard inquiry, soft inquiry, no check.

Why is credit check necessary?

How credit check affects your credit score and credit history.

What loans can you get without credit check.

How do No Credit Check Payday Loans work?

Dangers of No Credit Check Payday Loans.

How to apply for a Bad Credit Payday Loan with the least affect on credit history.

NEED CASH FAST?
  • Payday Loans $100 - $1,000
  • Personal Loans $1,000 - $35,000

Credit Check: hard inquiry, soft inquiry, no check. 

There are different types of credit check, which take place when you apply for a loan: hard inquiry, soft inquiry and no check.

  • Hard credit inquiry or "voluntary" inquiry is when you apply for a loan or some services, and an organization makes request to get credit information about you (such as credit history, the amount of debts, current bank accounts). The companies, which perform hard inquiry, are usually mortgage brokers, some cell phone and cable TV providers, credit card issuers and other lender institutions. Some people are afraid that hard inquiry will lower their credit score, but don't worry, that type of credit inquiry composes only about 10% of your credit score. Although, some lenders can take your hard inquiries into account. But on the other hand, most of them understand, when they see a lot of inquiries in a 3-month period: a customer just tries to get a low-rate loan.
  • Soft credit inquiry doesn't affect your credit score like when you check your credit score. It's just a soft inquiry, which is used, for example, in order to send you special offers. It's also known as "involuntary" inquiry, cause you didn't ask to check your credit report. But even in this case a lender can look through your credit score to find out if you are a reliable borrower or no. These inquiries will not influence your credit score. The other type of soft inquiry (soft pull) happens when a lender does a background check (employment verification is usually included), but don't worry, even hundreds of soft inquiries will not have any impact on your score2.
  • If we talk about no credit check, it's when you can get a loan without any verification procedures (or just a few). No credit check usually means that you don't need to have good credit score, you don't need a bank account, in fact you don't need anything to get a loan. However, some lenders can ask you to verify your monthly income or bank account and that's that.

Why is credit check necessary? 

Credit check is necessary, because a lender can estimate real risks and decide whether you can repay a loan or no. However, credit check is important not only for lenders, but for customers too. 

Let's see how good credit score can simplify your life:

  • Low insurance premiums. A lot of states allow insurers to use their credit score to set insurance premiums. Using this method you strongly decrease the amount of money, which you need to pay for insurance coverage. The higher your credit score, the less money you need to pay for insurance premiums.
  • Best price on TV and Internet. A lot of internet and TV providers check your credit score before making a deal. If you have good credit score, you can pay a discounted price or get extra functions. If you have bad credit score, a company can ask you to make a prepay.
  • Low interest rate. If you have good credit score, lenders always offer your better conditions, cause if you repaid your previous loans, it's more likely that you would pay off a new one. It works for all types of loans: personal, mortgage, education, etc. So, if you want to get the best conditions, keep your credit score in a good state. There's one more thing that you need to know: the score that you see, and the one, which your lender looks at, can be different. It depends on the agency that the lender uses to trace your score.
  • Better financial deals. If you have good credit score, you have a lot of opportunities: better interest rate on debit and credit cards, bonus programs, checking or investment accounts. It can help you to manage your finances better and save money.

NEED A LOAN? FIND THE BEST LENDERS ONLINE!

How much would you like to borrow?

How credit check affects your credit score and credit history. 

An impact of multiple inquiries. As we mentioned above, multiple inquiries in a short period of time can't affect your credit score seriously. Some lenders can decide that you're a more risky borrower because of these inquiries, but most of them understand that you're just shopping around for a low-rate loan. Most lenders don't take into account inquiries from student, auto and mortgage loan lenders. Usually lenders treat it like only one inquiry, that will not have big influence on your credit score.

Hard and soft inquiries. The second thing you need to remember is that only your application for a loan (hard inquiry) can have an impact on your credit score. When lenders check your credit score by themselves (to send some special offers, for example), it's a soft inquiry, and it will not influence your credit score. If you have a long credit history, hard inquiries will not affect your credit score much. On the other hand, if the history is short, you may have problems. One hard inquiry decreases your credit score by about 5 FICO points which will have an impact in the long run. Moreover, according to the statistics, customers, who have six or more inquiries in their credit report, are more likely to become bankrupt (up to 8 times). However, inquiries aren't the most important factors, what is much more important is how you pay your bills and repay previous loans.

FICO formula. FICO score usually takes into account the inquiries, which are older than 30 days, if it finds some, FICO score mixes it into only one inquiry3. If you find one loan a month, the inquiries will not affect your credit score. Although, the scoring formula differs from version to version. For the newest one, the shopping period is every 45 days, for the older version it's every 15-day span. Lenders can choose any version of the formula for their agencies, it depends only on their preferences.

How to improve your credit score. There are simple tips, which will help you to improve your credit score:

  • pay bills on time;
  • open a new credit account only if you really need it;
  • trace your credit card balance;
  • if you had huge problems, opened a new account and made on time payments, it would boost your credit score;
  • check your credit reports regularly (it will not affect your credit score), before taking out a new loan, the reports can be out-of-date.

What loans you can get without credit check. 

The most popular form of no credit check loans is online Payday Loans, cause this kind of loans is usually short-term.

NEED CASH FAST?
  • Payday Loans $100 - $1,000
  • Personal Loans $1,000 - $35,000

But you can get a lot of loans without any credit check, for example Student Loans, Auto Loans, even some mortgages. The loans with no credit check may seem a good option, but it has few pitfalls. The interest rates are usually high, debt consolidation is aggressive and you’re more likely to come across scams. No credit check loans are worth it, only if you have a very low credit score and can't fix it. Usually, there are only some simple requirements to get the loan with no credit check:

  • you must be an adult over 18, but not older than 65 years;
  • be a resident of the USA;
  • you should have a valid bank account;
  • show the documents, which verify your monthly income;
  • have a valid phone number to cooperate with a lender.

How do No Credit Check Payday Loans work?

The lenders, who offer you the loans with no credit check, can be predatory lenders. Predatory lenders offer you extremely high interest rates (300 percent or higher) and for quite short terms (usually from 1 to 4 weeks). The combination of high rate and short term can be very dangerous. If you can't repay the loan on time, your lender charges new fees, or pressure you to take a new loan to repay the last one. And then you have to pay, to pay and pay... until you are cleared out. But are there any fair lenders, who offer the loans with no credit check? – Yes, and now it's time to talk about the difference between fair lenders and predatory lenders. Good lender checks your ability to repay even with no credit check. It usually includes:

  • verification of your current place of work (you should work at the current place at least for a few months)
  • check of your bank account (it should be registered on your name for at least 3 months).

Fair lenders also use alternative credit data to define your ability to repay the loan. Moreover, you can use your car or house as a collateral. In this case lenders can offer you better conditions, and it will motivate you to make payments on time.

Dangers of No Credit Check Payday Loans. 

To protect yourself from the scammers you must know their tricks. Below we enumerate the most popular traps, which unfair lenders use in their business:

Overdraft fees. I'm sure you know that lenders use penalty fees, when customer doesn't pay on time. Since most lenders use the accounts of customers for automatic payments, the fees can also be charged automatically. But what you don't know is that there're overdraft fees, which add $180 (on the average) in addition to any other fees, that lender charges for late payments.
Extreme interest rates. Payday Loans always have very high interest rates, it may not seem so, if we look at the fees, which lenders usually offer, but it's a great mistake. For example, you take out $100 Payday Loan and the fee is $30, it's not very big, isn't it? But if we turn it into APR, it gets up to 782%.
Loan default. It happens when a borrower can't repay the loan or has to take out a new one. Debt collectors can use illegal means to get their money back, the bank of a consumer usually withdraws funding of his account and the government can stop funding too. This faith befalls 20% of Payday Loans borrowers according to CFPB research.
Closure of a bank account. If you have negative balance for a long time, the bank can close your account. After that the lender will force you buy a new debit card with high fees (cause ordinary banks will not approve your application) to pay the bills. According to CFPB statistics, 36% of the bank accounts, which have failed debit transactions for the first time, were closed in 90 days.

    No problem, here's another one. When you failed to repay the loan, that you took out, the lender would offer you to apply for another loan with new fees. The Consumer Financial Protection Bureau found that 4 of 5 people take out another loan from their lenders in 30 days and most borrow more than 5 loans in a row1 . Now you know, why refinancing is prohibited in most states.

    How to apply for a Bad Credit Payday Loan with the least affect on credit history. 

    There are some ways to apply for a Bad Credit Payday Loan with the minimum influence on credit history:

    • Don't take out a lot of loans in a short time. If you take many small loans, lenders see you like a more risky consumer, even if you repaid these loans. For lenders it indicates, that you're in unstable financial state.
    • Make payments on time. Your credit history includes previous repayments, it means that all missed or late repayments will be stored in your profile for about 2 years.
    • Don't make too many applications in a short time. A few Payday Loans applications are ok, but if you have bad credit and make many financial requests, it indicates you like the borrower with some financial difficulties.

    Bad Credit Payday Loans can help you to increase your credit score, if you took out a Payday Loan and paid it off, you would look like a more reliable consumer (at least for the lenders. who offer such kind of cash advance). Although, if you need to take out a long-term loan like mortgage, Payday Loans in your credit history can push some lenders off (even if you repaid the loans).

    NEED CASH FAST?
    • Payday Loans $100 - $1,000
    • Personal Loans $1,000 - $35,000