If you have terrible credit, your only option may be a no credit check loan. Because of the risk to the lender, APRs are high on these loans. Still, a no credit check personal loan is a safer option than a payday or title loan.
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You may need a no credit check loan if you’ve had a past
bankruptcy or defaulted on previous loans. However, you shouldn’t get a no
credit check loan just to avoid a hard inquiry. No credit check loans typically
come with higher interest rates and shorter terms, which can make repayment
more difficult. Furthermore, borrowing limits are generally lower.
If you can get a loan with a credit check, you’ll save a lot
of money and have more flexibility. But if a no credit check personal loan is
your only option, we’ve got your back. Our team of financial experts reviewed
and ranked more than 30 online lenders to help you get funded.
You can get a loan from 60MonthLoans without putting up collateral or enduring a hard credit check. The company reports to the major credit bureaus, so your on-time payments will help you build credit as well. Rates and terms vary by state, but overall APRs are low considering a credit check isn’t required. You’re unlikely to beat credit card APRs, however.
60MonthLoans offers personal loans between $2,600 and $10,000 with an origination fee of up to 5% and APRs ranging from 19.09% to 69.5%. Terms vary by state but range from 12 to 60 months, and there are no prepayment penalties. Once you’re approved, you can receive the funds as soon as the next business day, and you can use the money for just about anything. 60MonthLoans doesn’t specify minimum income or debt-to-income ratio requirements.
If you live in one of the 20 states served by 60MonthLoans, you may find the company is your best option for a no credit check personal loan with a reasonable APR. However, those who want more education and access to customer support may want to choose OppLoans.
Fast funding time as soon as the next business day
Extended customer support hours
No prepayment penalties
Flexible use of funds
No origination fee
Loans as small as $500 available in some states
APRs up to 160%
Maximum repayment term is 18 months in some states
Maximum $4,000 borrowing amount
Not available in all states
OppLoans offers a ton of free online financial education for borrowers and has extended customer support hours and excellent customer service reviews. The lender does not require a hard credit check, but rather makes decisions based on a soft credit pull and income information. However, rates can go up to 160% in some states. In many of those same states, the maximum repayment term is only 18 months, which may make repayment difficult.
OppLoans offers loans between $500 and $4,000 with APRs ranging from 59% to 160%. There’s no origination fee or prepayment penalties to worry about. Terms range from six months to three years, but the maximum repayment term is 18 months in many states. You can get your funds as soon as the next business day and use the money for almost any financial need. You’ll need to receive income from direct deposit to qualify for a loan from OppLoans, and you’ll also need to live in one of the 37 states the lender serves.
If you need a small loan and don’t want to worry about an origination fee, OppLoans is one option that doesn’t require a credit check. The lender also provides industry-leading customer support and can help you improve your credit. However, since rates are at least 59%, you should exhaust your other options before applying for a loan from OppLoans, including getting a quote from the alternative bad credit lenders below.
Accepts borrowers with newer credit profiles or lower credit scores
Flexible approved uses for the loan money
Pros & Cons
Prequalify without hurting your credit
Loans as small as $300
Free financial education
Secured personal loans available in some states
35.99% rate cap
Flexible use of funds
No prepayment penalties
Flexible repayment terms up to 48 months
Same-day funding available
Charges an origination fee
Not available in all states
Maximum $10,000 borrowing amount for unsecured loans
While Oportun requires a credit check, the lender is reportedly very lenient with poor credit borrowers, and will even work with people who have faced bankruptcy in the past. The best part is, Oportun offers a 35.99% rate cap and free financial advice from trained coaches. Oportun even allows cosigners in some situations and offers secured options in some states to make approval more likely.
With Oportun, you can borrow between $300 and $10,000 with no collateral. In Arizona, Florida, Texas, and California, you can also choose to secure the loan with your car title and borrow between $2,525 and $20,000. Terms range from 12 to 48 months. Oportun charges an origination fee, which varies by state, but there are no prepayment penalties to worry about. APRs range from 7.99% and 35.99%. Applying with a creditworthy cosigner may allow you to access Oportun’s lower rates. A hard credit check is required for the formal application. Funding can happen as soon as the same day you apply, and you can use the money for almost anything. Oportun doesn’t specify minimum income requirements, but you will be required to verify your income.
Oportun is a great option for people who have made credit mistakes in the past, especially those who have faced bankruptcy. Applying with a cosigner or securing the loan with your car title can help you get a low rate, even if you have bad credit. Oportun is also ideal for those who need a quick, small loan and want some free financial advice to go along with it.
99% of personal loans funded the next business day
Very low starting rates with a 35.99% cap
No joint applications or cosigners
Only two term choices
Not available in West Virginia or Iowa
Charges an origination fee of up to 8%
Upstart will consider applicants with a credit score as low as 300 as well as those without sufficient credit history to generate a score. You can check your rate without hurting your credit, but a formal application requires a hard credit check. Like Oportun, Upstart caps rates at 35.99%.
You can borrow between $1,000 and $50,000 from Upstart and repay the loan over a three or five-year term. The origination fee ranges from 0% to 8% and APRs vary from 5.35% to 35.99%. There’s also a late payment fee, but there are no prepayment penalties. Most loans are funded the next business day, and the money can be used for almost any purpose, except educational expenses. The minimum credit score is 300 unless you have no credit history. The lender doesn’t disclose a minimum income, but your debt-to-income ratio can’t exceed 50% (45% in some states). You also can’t have any bankruptcies or public records in the past year and can’t have any currently delinquent accounts.
If you don’t have a credit score but you need a loan, Upstart is a great option. Funding is fast and APRs are capped at 35.99%. However, if you need to apply with a cosigner or have had a recent bankruptcy, you’ll need to look elsewhere for funding.
Maximum $10,000 loan amount or less in some states
APRs up to 155%
Charges an origination fee in some states
Charges late payment fees in some states
Not available in all states
No cosigners or joint applications
NetCredit is reportedly friendly to fair and poor credit borrowers and doesn’t impose a minimum credit score. You can prequalify with a soft credit check and get your money quickly once you’re approved. Plus, repayment terms are extremely flexible. However, since rates go up to 155%, we don’t recommend applying unless you can’t qualify for a loan from Oportun or Upstart.
With NetCredit, rates, terms, and available amounts vary by state, but you can generally borrow between $1,000 and $10,000 with a varying origination fee and APRs ranging from 34% to 155%. Loan terms are customizable and range from 12 to 60 months. There may be a late payment fee, but there are no insufficient fund fees or prepayment penalties. You can get your funds the next business day or sooner, and there are no restrictions on how the money can be used. NetCredit does not disclose minimum income or credit requirements.
If you aren’t able to get a personal loan from an online lender with a 36% rate cap, try prequalifying with NetCredit. The lender still offers more flexible repayment terms and lower starting rates than many no credit check lenders, and checking your rate won’t hurt your credit.
Our experts considered the following parameters when evaluating lenders. As you compare your options, you’ll want to pay attention to these factors:
Loan Features: Ensure the lender offers the amount you need, and never borrow more than you need. Also make sure you can comfortably afford the monthly payments based on the repayment term. And check to make sure there aren’t any restrictions on how the loan can be used.
Interest Rates and Fees: Choose the option with the lowest APR that still meets your needs, and avoid any lenders that charge prepayment penalties.
Application Process: If you’ll need to loan quickly, pay attention to the speed of funding, and choose a lender that offers a streamlined online application process for convenience.
Qualification Process: Watch out for income requirements to make sure you’re eligible.
Customer Support: Ensure the lender’s support team is available at a time that is convenient for you, and make sure you can easily manage your account online.
Online User Reviews: Read reviews of the lender on sites like Trustpilot, ConsumerAffairs, and Credit Karma. Look for patterns in complaints from customers.
Perks and Bonuses: Some lenders may offer payment flexibility and utilize technology more than others. Pay attention to any special features that make the lender stand out.
Best No Credit Check Personal Loans — Feature Comparison
Credit Check Required?
19.09% to 69.5%
$2,600 to $10,000
12 to 60 months
59% to 160%
$500 to $4,000
6 to 36 months
7.99% to 35.99%
$300 to $10,000 (up to $20,000 for secured loans)
12 to 48 months
5.35% to 35.99%
$1,000 to $50,000
36 or 60 months
34% to 155%
$1,000 to $10,000
12 to 60 months
What Is a No Credit Check Loan?
A no credit check loan is any loan offered to a borrower by a lender without the requirement of a hard credit inquiry. No credit check loans often refer to predatory products such as payday loans and title loans. However, in this guide, we focused our recommendations on no credit check personal loans. A no credit check personal loan is an installment loan that is typically unsecured and repaid in fixed monthly payments with interest.
Reasons to Get a No Credit Check Personal Loan
If you need money in an emergency and you can’t qualify for other lenders based on your credit score, a no credit check loan may be your only option. However, because no credit check loans are costly, you shouldn’t use them for non-emergency large purchases, vacations, or weddings. Some examples of situations in which you might need a no credit check personal loan include:
Rent or mortgage and utilities
Car insurance premiums
How to Get a No Credit Check Personal Loan
While the process varies by lender, in general, you’ll go through the following steps:
Ensure you don’t qualify for a cheaper loan: Try prequalifying with lenders such as Oportun and Upstart to see if you can get a loan with a lower APR based on your credit score before you look for personal loans with no credit check.
Gather the necessary documents: You’ll need to provide your social security number and identifying documents as well as verify your income. You may also need to provide references.
Apply with a no credit check lender: The two safest options we reviewed for loans with no credit check are OppLoans and 60MonthLoans. Since neither lender does a hard credit check, you can apply to both and compare their offers. Avoid online payday loans and other short term loans with no credit check.
Sign your loan documents: Read the fine print so you understand the terms. Select a repayment term you can afford. Then, sign and accept your loan documents.
Receive your funds: Most lenders can make funds available within one business day.
Where to Get a No Credit Check Personal Loan
No credit check personal loans aren’t offered by many lenders. Most loans without a credit check are online payday loans, which are expensive and risky. It’s unlikely that a bank or credit union will offer you a no credit check personal loan, so check with online lenders instead. The following lenders offer no credit check personal loans with longer repayment terms than payday loans:
Alternatives to No Credit Check Personal Loans
Payday Alternative Loans: Payday Alternative Loans (PALs) are short-term, small dollar loans that come with a maximum APR of just 28%. They’re offered by credit unions, which typically have membership requirements.
Home Equity Loans: A home equity loan is easier to qualify for than an unsecured personal loan because you offer the equity you’ve built in your home as collateral. These loans come with low APRs, but they do require a credit check, and it can take a while to get the funds.
401(k) Loans: 401(k) loans don’t require a credit check, and though you must repay them with interest to avoid tax penalties, you’ll be paying interest to yourself.
Point-of-Sale Financing: If you need to make an emergency purchase, such as a new refrigerator, many retailers now partner with Buy Now, Pay Later or Point-of-Sale companies that allow you to pay later or over time. Most of these options do not require a hard credit check.
Bad Credit Lenders: Lenders like Oportun, Upstart, Avant, NetCredit, OneMain Financial, and others offer loans to fair and poor credit borrowers. While these lenders require a credit check, you may qualify even if you have bad credit.
Cash Advance Apps: Some cash advance apps allow you to get an advance on your next paycheck. These apps don’t typically charge interest, but instead make money from voluntary tips or membership fees.
How to Avoid No Credit Check Loan Scams
Check to make sure the lender is registered in your state: If the lender is not licensed to issue loans in your state, that’s a red flag.
Ensure the lender has a physical address: Scammers may use a P.O. box or not provide an address at all, so review the lender’s contact information.
Beware of promises of guaranteed approval: While loans are available without a credit check, a legitimate no credit check lender will still review information such as your income and outstanding debt. If a lender promises to issue a loan regardless of your financial situation, that’s a red flag.
Never pay an advance fee to receive a loan: It’s illegal for a telemarketer to demand payment prior to issuing a loan. Be especially wary of scammers who request prepaid cards in exchange for issuing a loan.
Make sure fees and APRs are transparently disclosed: Legitimate lenders make their APRs, fees, and terms apparent online. If you can’t find this information about a lender, you’re likely dealing with a scam artist.
How to Improve Your Credit to Avoid Risky No Credit Check Loans
If you can improve your credit score, you’ll be able to qualify for loans with lower APRs, better terms, and fewer fees in the future. Take the following steps to build healthy credit:
No credit check loans generally come with higher APRs and less favorable terms than personal loans that require a credit check. It’s a good idea to prequalify with a few bad credit online lenders before considering a no credit check loan. But if you need a loan without a credit check, there are a couple of options that won’t leave you buried in debt. Just make sure to evaluate your budget and plan for repayment, or the high APRs could lead you to default.
Frequently Asked Questions(FAQ)
Are There Safe No Credit Check Loans?
While all no credit check loans come with high APRs, some
are safer than others. An installment loan with a longer repayment term reduces
your risk of becoming trapped in debt. Based on our analysis, the two safest
options for no credit check loans are OppLoans and 60MonthLoans.
Can I Get a Loan with No Credit Score?
Yes. Not only can you apply for a no credit check loan, but
you might also qualify for a bad credit loan from an online lender. For
example, Upstart is willing to accept applicants without sufficient credit
history to generate a score.
What’s the Easiest Loan to Get with Bad Credit?
The easiest loans to get with bad credit are not the safest
loans. While a payday loan or pawn shop loan may be the quickest and easiest
way to get cash, you should first try prequalifying with an online lender that
is friendly to borrowers with bad credit.
Which Loan Is Easiest to Qualify For?
The easiest loan to qualify for is a 401(k) loan, since it
does not require a credit check or income verification. But not all plans offer
loans. Furthermore, taking a loan from your 401(k) eats into your retirement
savings. And if you leave your job with an outstanding loan, you may be
required to pay it back all at once. Other loans that are easy to qualify for
include payday loans, title loans, and pawn shop loans, which are all risky
forms of borrowing.
What Is the Minimum Credit Score Needed to Get a Loan?
While there is no minimum credit score needed to get a loan,
you’ll need good credit to qualify for the lowest rates. That said, some
lenders offer loans to borrowers with bad credit or no credit history, and
others don’t require a credit check at all.
Which Type of Loan Does Not Require a Credit Check?
The following loan types may be available without a credit