Guaranteed Payday Loans No Matter What

Writer and editor - Joseph Smith | Updated on 2020-09-11
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Where to find guaranteed payday loans – no matter what

Many people ask how they can find guaranteed payday loans no matter what, but the truth is that these loans cannot be inherently guaranteed. There are industry standards that companies have to follow, which prevent them from accepting all borrowers who come to their company on principle. Luckily, these payday lenders only do minimal checks into your credit history, so you are virtually guaranteed for approval as long as you meet some basic requirements. These requirements may vary from lender to lender.

Your best course of action is to shop around your loaning needs to a variety of companies. When you’re looking to get a payday loan, these lenders will only do a small background check that factors in your age, income, and identity. What you want to avoid are companies that do hard credit checks. A hard credit check, which is standard on some of the more sought-after personal loans, can harm your credit score. When your credit score is already low, you can’t afford to let this happen.

Instead, you will want to look for companies that do soft credit checks. A soft credit check only looks at your base income in some cases, which means that most people can be approved as long as they have a reliable source of monthly income. Some personal loan lenders check with companies like Experian and Equifax, which may qualify as a hard check and not only disqualify you as a candidate but also hurt your credit score in the process.

Best “guaranteed” payday loans options

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 ?
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 ?
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 ?
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 ?
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 ?
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 ?
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 ?
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 ?

Finding the best options – payday loans

When you are looking for a payday loan with an interest rate you can afford, you may need to shop around your needs to a variety of lenders. If done correctly, you can do this as many times as you want without negatively affecting your credit score and forcing you back into the cycle of rejection. The best payday loan vendors will only check to see if you have the minimum income they need to approve your loan; everything else is secondary. They justify this practice by relying on higher interest rates so that their investment is safe.

The higher your loan amount is, the higher the interest rate will be. This practice makes sense from a business standpoint, as the lenders are investing more money, and they want more return on their risk. If you are only looking for a small amount, such as a few thousand dollars, then your interest rate is likely to be more manageable.

Is same-day deposit guaranteed?

In the same way that lenders cannot guarantee instant approval, they also cannot guarantee same-day deposits due to the nature of the work. Instant approval can depend on several factors, including:

  • How quickly they can approve your loan
  • Whether or not the paperwork is done by the end of the day during their banking or business hours
  • The size of the loan
  • How long it takes for them to look into your background and verify the requirements, such as your income and identification

The lender in charge of your loan will need to send the money over before their business hours end for the day so it can process in time. But they cannot ensure a same-day deposit into a borrower’s bank account. Most lenders like to say that they offer loans as quickly as the next business day, which covers their tracks against broken promises. The smaller the loan, the more likely it is to be deposited in the same day, as long as you do your part in getting the lender the necessary paperwork.

Pros and cons with “guaranteed” payday loans

So-called “guaranteed” payday loans can offer a lot of benefits to their borrowers who genuinely need them. At the same time, they definitely have their pitfalls. These may include:

Pros:

  • Allows the borrower to get their money much quicker than other loans so they can use the money for the emergency at hand
  • Getting money promptly can enable the borrower to pay off balances on other loans and credit cards so that late fees and penalties are not enacted, which can further push the borrower into debt
  • A payday loan allows borrowers to be more financially independent so they can break away from more harmful financial practices like even-higher interest rates, pricey credit cards, loan sharks, increased mortgages, etc.
  • These loans generally do not require a credit report. Instead, the lenders only check to see that you are at least 18 years old, have an income of at least $800 a month, have a valid form identification, and a few more small caveats

Cons:

  • The major drawback is the high-interest rate, which may be hard to pay off
  • These loans can also carry late fees and penalties if not paid on time
  • You may need to go to several lenders to get your desired amount
  • They sometimes cannot be deposited until the next business day
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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