Best No Credit Check Loans

Writer and editor - Joseph Smith | Updated on 2020-05-27
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If you don’t have a stellar credit history, you may be looking for the best no credit check loans.

While many promises of ‘no credit check loans’ aren’t what they seem, there are various ways to access a loan if you don’t have a good credit score.

In this article, we’ll dissect the different options you have if you need a loan without a credit check.

Best No Credit Check Loans Alternatives

Loans Amount Cost / APR ? Bad Credit Features
CashUSA
$500 - $10,000
Individual rates
Bad credit allowed
Allowed
  • Loan terms start at 3 months.
  • Next-day deposit: In some cases ?
  • High approval rates ?
  • Time for decision: 1.5 min ?
  • Type of service ?
QuickLoanLink (Personal loan) $300 - $35,000 APR:
Starting at 6.90% ?
Bad credit allowed
Allowed
  • Loan term 2 months to 7 years
  • Credit check type: Soft ?
  • Next-day deposit: In some cases ?
  • Min creditscore: 550
  • High approval rates ?
  • Time for decision: 1.5 min ?
  • Type of service ?
HonestLoans
$400 - $5,000
$30 - $750 ?
Bad credit allowed
Allowed
  • Same-day deposit: In some cases ?
  • High approval rates ?
  • Time for decision: 1.5 min ?
  • Type of service ?
CreditLoan (Personal loan) $100 - $40,000 APR:
Starting at 5.34% ?
Bad credit allowed
Allowed
  • Loan term 2 months to 7 years
  • Same-day deposit: In some cases ?
  • High approval rates ?
  • Time for decision: 1.5 min ?
  • Type of service ?
GazelleLoans
$300 - $5,000
Individual rates
Bad credit allowed
Allowed
  • Same-day deposit: In some cases ?
  • High approval rates ?
  • Time for decision: 1.5 min ?
  • Type of service ?
LifeLoans (Personal loan) $500 - $40,000 APR:
Starting at 5.99% ?
Bad credit allowed
Allowed
  • Loan term 2 months to 5 years
  • Credit check type: Both ?
  • Next-day deposit: In some cases ?
  • Min creditscore: 580
  • High approval rates ?
  • Time for decision: 1.5 min ?
  • Type of service ?
OppLoans (Direct Lender)
(Personal loan)
$1,000 - $5,000 APR:
Starting at 99.00% ?
Bad credit allowed
Allowed
  • Loan term 9 months to 3 years
  • Next-day deposit: In some cases ?
  • Low approval rates ?
  • Time for decision: 1.5 min ?
RubikLoan
$100 - $1,000
$1,000 - $5,000
$15 - $300 ?
APR from 6.9% ?
Bad credit allowed
Allowed
  • Same-day deposit: In some cases ?
  • High approval rates ?
  • Time for decision: 1.5 min ?
  • Type of service ?
Personal Loans (Personal loan) $500 - $35,000 APR:
Starting at 5.99% ?
Bad credit allowed
Allowed
  • Loan term 3 months to 6 years
  • Credit check type: Soft ?
  • Next-day deposit: In some cases ?
  • Min creditscore: 580
  • High approval rates ?
  • Time for decision: 1.5 min ?
  • Type of service ?
BadCredit.com
$100 - $5,000
Individual rates
Bad credit allowed
Allowed
  • Next-day deposit: In some cases ?
  • High approval rates ?
  • Time for decision: 1.5 min ?
  • Type of service ?
OpenCashAdvance
$200 - $5,000
Individual rates
Bad credit allowed
Allowed
  • Same-day deposit: In some cases ?
  • High approval rates ?
  • Time for decision: 1.5 min ?
  • Type of service ?

No Credit Check Loans Explained

If you apply for a loan, a lender will typically perform a credit check to verify your credit history. It’s a way for them to assess whether you have any previous defaults or significant outstanding balances.

If you don’t believe you can pass this type of credit check, or you want to avoid an inquiry showing up on your report, you’re most likely considering a ‘5000 no credit check loan.’

Every lender will perform some type of check on your financial history, so it can be a good idea to access a loan that requires an alternative credit check. For example, instead of having your credit report checked with official credit bureaus, an alternative check may only include an assessment of your income stability.

Some lenders may also allow you to accept financing regardless of your credit history, so you do have options available if you don’t have a strong credit profile.

Payday loans and installment loans are two prevalent loan types that are more reliant on income than credit history, for example.

Requirements

If you’re considering a payday loan, installment loan, or another type of alternative personal loan, it’s important to understand the requirements.

These products don’t usually have the same credit score requirements as other types of financing, but there are other income and documentation restrictions to consider.

Payday Loans

  • Age: 18+ years
  • Income: $800+ per month
  • Valid ID
  • Legitimate proof of income
  • A bank account that is currently active

Other Loans

  • Age: 18+ years (Preferable if over 21)
  • Income: $800+ per month (Preferable if over $2000)
  • Valid ID
  • Legitimate proof of income
  • A bank account that is currently active

Improve Your Credit Score to Get More Options

While you can use alternative credit check loans to access a loan, the best way to improve your chances of success is to increase your credit score. Increasing your credit score can also help you access better interest rates.

There are a few different ways to initiate drastic improvements within your credit report, including:

  1. Pay Off Your Balances – If you pay down your credit card balances, you’ll lower your overall credit utilization. The more credit you use, the lower your score will appear. Paying down your balances improves your score quickly.
  2. Consolidate Your Credit Card Debt – Credit bureaus will often prefer that borrowers have fewer balances on record. If you can consolidate all your current debts into a single credit card, you may stand a better chance of improving your score, but you should still leave your other cards open.
  3. Open New Credit Card Accounts – If you only have one credit card currently open, apply for several new lines of credit. Multiple accounts may increase your credit score if the balances are kept at zero once opened. Consider opening two more cards if you only have one on hand.
  4. Don’t Wait Until Your Due Date – If you’re someone who often pays your credit cards on the due date, you may be disadvantaging yourself (even if you pay off your whole balance monthly). Some credit card companies report the balances to the credit bureaus before the due date, which means you’ll be pegged with a large balance even if you pay the entire amount off each month. Pay your balances early to avoid this situation.
  5. Use a Secured Credit Card – If you don’t have a credit card, but you want to build credit, consider applying for a secured credit card. It is a credit card with a down payment. You use the collateral to provide the bank with capital if you should need to default on the card.

Difference Between a Hard and Soft Credit Check

If you’re applying for ‘online loans no credit check,’ it’s critical to understand the stark differences between a hard and soft credit check. Not differentiating between these two types of credit checks can have severe consequences for your overall credit score.

A soft credit check won’t be recorded on your credit report. It allows a lender to view your basic report without pulling your entire history, for example.

It’s best to work with lenders that use a soft credit check to assess your eligibility.

Alternatively, a hard credit check will pull your full credit history and record an inquiry on your official report. A lender will often use a soft credit check first, and then move on to a hard credit check after approving your application.

It is worth clarifying this procedure with your lender before you apply for a loan.

Joseph Smith

Joseph Smith
Writer and editor

Joseph Smith is an experienced freelance writer with over 11 years of experience. His area of expertise includes finance, loans and lending. His work has been featured on various large websites including this one.
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