Where Can I Find Instant Payday Loans Online With Guaranteed Approval?

Where Can I Find Instant Payday Loans Online With Guaranteed Approval?
Author : Chris Morgan
Updated on : April 7th, 2022

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If you’re in the market for a payday loan, you may have come across companies that advertise guaranteed approval. Are they telling the truth, or is this too good to be true?

In the world of payday loans, both you and the lender are taking on risk. Payday loans don’t involve a credit check, so lenders need to be extra careful with who they decide to give loans to. In other words, it’s unrealistic for them to offer 100% guaranteed approval.

This doesn’t mean that you should give up on payday loans, particularly if you’re in a financial emergency. While instant payday loans online with guaranteed approval don’t exist, there are still many things you can do to maximize your chances of getting one.

Do Instant Payday Loans Online With Guaranteed Approval Exist?

No, instant payday loans online with guaranteed approval don’t exist. Whereas traditional installment loans rely on your credit score as the sole factor in determining your eligibility, payday lenders must use other criteria.

Most commonly, payday lenders will want to know what your gross monthly income is, and verify that you have a bank account. This is much more lenient than a credit check, but it’s still a screening process nonetheless.

With any screening process, there is a chance of getting denied. For example, you might not meet the company’s minimum monthly income requirements to get approved for the loan.

Is There a Way To Get a Guaranteed Loan?

We’ve learned that payday loans don’t come with guaranteed approval. However, this statement can be applied to any loan in general. Any time you request a loan, whether that be a mortgage, personal installment loan, or bad credit loan, there is always a screening process where you could be rejected.

That being said, payday loans tend to have the fewest requirements in order to get approved. Later in the article, we’ll share how you can almost guarantee getting one. If you’d like to go straight to our top recommendation, then read our complete review of LendYou.

What If a Company Claims To Guarantee Approval?

Despite all the information we’ve shared so far, companies out there will still claim that they have guaranteed approval. Does this mean that they’re untrustworthy?

Well, you might find asterisks attached to this claim hidden in their terms of service. For example, the fineprint might contain a clause saying that approval is guaranteed as long as you have a monthly income over a certain amount.

It’s important not to get caught up in flashy banners and landing pages that offer guaranteed approval. Instead, we recommend turning to LendYou for instant online payday loans. They are a well-known company in the industry that never claims to guarantee approval.

What Loans Am I Most Likely To Be Approved For if I Have Bad Credit?

For those with bad credit, your best bet is a loan with no credit check. You can apply for these loans without worrying about a credit inquiry, meaning that these lenders won’t take your credit history into account.

There are three main types of no credit check loans:

  • In a title loan, you trade your car title in exchange for cash. The value of your vehicle determines the maximum amount you can borrow. While the lender holds on to your car title, you can still drive your car throughout the loan. If you’re interested in a title loan, we recommend our list of the best title loan companies in the United States.
  • In a pawnshop loan, you exchange a valuable item for cash. The value of your item determines the maximum amount you can borrow. Once you pay off the loan in full, you’ll get your item back.
  • In a payday loan, the lender gives you cash upfront without any collateral. They expect the loan to be repaid in full once you receive your next paycheck–this is why they are also known as cash advances. This is why almost every payday lender will want to see proof of income. The rest of this article will focus on no credit check payday loans and how to maximize your chances of approval.

How Can I Get a Cash Advance Online Instantly?

LendYou is a company that specializes in helping clients instantly find cash advances online. Once you sign up with LendYou, they’ll immediately begin trying to match you with a lender that can meet your needs.

LendYou doesn’t offer guaranteed approval, but clients have historically seen very high approval rates. Here is an overview of what you might expect when working with LendYou:

  • Make sure you meet the requirements. To get started with LendYou, you must be at least 18 years old. In addition, you must have a checking or savings account, and a monthly income of at least $1,000. If credit issues have made it difficult to get a checking account, read our post on best checking accounts for bad credit.
  • Sign up for LendYou. If you meet these requirements, you can sign up on their website or mobile app. LendYou will also ask you how much you’re looking to borrow.
  • LendYou will match you with partner lenders. Once you’re in, LendYou will automatically start finding potential lenders for you.
  • Review the terms carefully. LendYou will notify you if lenders are interested. From there, you can communicate directly with the lender and discuss the terms of the loan. The lender will send you a loan contract which you should thoroughly review.
  • Accept or decline the offer. If you’re okay with the terms, and you’re sure you can repay the loan on time, you can accept the offer. It’s also okay to decline, as LendYou will continue finding other lenders for you.

Once you accept an offer, you should receive your funds in your bank account in around one business day. Make paying off this loan your highest financial priority.

LendYou is also often commended for their excellent customer service. If you have any questions throughout this entire process, don’t hesitate to reach out to a LendYou service representative. They can help you assess loan contracts and offer general payday loan advice.

The Best No Credit Check Payday Loans Online

LendYou is the best option for finding a no credit check payday loan online. This is because signing up with them can potentially open you up to multiple lenders, increasing your odds of finding the best loan for you.

However, it can still be a good idea to consider other companies as well. To further boost your chances, we’ve compiled a list of the best no credit check payday loans online that you can consider in addition to LendYou.

Are Instant Payday Loans Online Safe?

Yes, online instant payday loans are safe, provided you get one from a trustworthy company like LendYou. Otherwise, be wary of scams or predatory loan terms.

How do you tell if a company is trustworthy? In general, you want to make sure they check all of these boxes:

  • They don’t guarantee approval. To reiterate, companies cannot realistically offer guaranteed approval on their loans. The most trustworthy companies are all aware of this.
  • They give you fair lending terms. Good lenders will not charge insanely high interest rates just because they can. Instead, they consider your financial situation and your monthly income, and draft a loan contract that’s fair to both parties.
  • They follow the law. Obviously, you should stay away from any company that violates the law. Be aware that different states have different payday lending laws.

Who Can Get an Instant No Credit Check Payday Loan?

No credit check payday loans are available to most US citizens. Most online payday loan companies have the following minimum requirements:

  • You must be at least 18 years old. 
  • You must be a permanent resident of the US, and live in a state where payday loans are legal.
  • You must have a checking or savings account. If you’re having trouble getting one, consider a second chance bank. These banks have more lenient criteria for getting approved, even if you’ve had banking troubles in the past.
  • You have a steady source of income. For LendYou, they require that you need at least $1,000.

Note that having good credit is not a requirement. This makes sense, since payday loans are no credit check loans.

When Should I Get a No Credit Check Payday Loan?

A no credit check payday loan is a great short-term solution for those that need instant funds. As long as you meet the minimum requirements above, you should have a very good chance of getting approved, even if you have poor credit.

However, sometimes a payday loan makes sense, and sometimes it doesn’t. Payday loans have very high interest rates, so you shouldn’t take one out unless you have a good reason to.

Only consider payday loans when you’re in a real financial emergency. For example, if you have an upcoming rent payment, utility bill, or medical bill due, these are valid reasons to get a payday loan. On the other hand, if you’re trying to fund an expensive gift or vacation, it’s not worth getting one.

The other major criteria you need to consider is your overall financial situation. Will you be able to repay the loan in full when it becomes due? If you have any reasonable doubt, you should definitely reconsider whether a payday loan makes sense at this time.

How Do You Increase Your Chances of Getting a Payday Loan?

It’s impossible to guarantee approval for a payday loan. However, you can certainly take steps to increase your chances of getting one. If you’re serious about getting a payday loan, consider doing these three things:

  • Have all your documents ready. If you walk into your payday loan application without having all your documents in order, this usually leads to rejection, no questions asked. Always make sure you have your government-issued ID and some form of proof of income prepared before starting your payday loan search. That way, when companies eventually ask you for this information, you’ll have it ready instantly.
  • Ask for less cash. From the lender’s perspective, the more cash you ask for, the higher risk you are. This makes sense, since asking for more cash also increases the total amount you’ll eventually need to pay back. If you can, asking for less cash can significantly increase your chances of approval.
  • Use LendYou. We’ve highlighted LendYou multiple times throughout this article, and for good reason. Because so many partner lenders are already on their platform, they have successfully helped numerous clients land competitive payday loans.

How Do Payday Loans Affect Your Credit Score?

When you apply for a payday loan, lenders will not check your credit. This means that you’ll see no new credit inquiries, and your credit score won’t be affected.

When you repay the loan, some payday loan companies may report these payments to the three credit bureaus. This gives you an opportunity to use your payday loan to build positive history and increase your score.

However, it’s also possible for this to ruin your credit if you don’t repay your loan. If your payday loan company reports a missed payment, this could stay on your credit report for up to seven years. Needless to say, it’s extremely important for you to repay your loan at all costs.

In general, you don’t want to continue letting your credit drag down your financial life. You may want to consider credit repair, which is a good longer-term solution to permanently fix some of the negative errors that may be on your report. Check out our Ultimate Review Guide for Credit Saint to learn more.

Conclusion and Next Steps

In this article, we discussed why instant payday loans online with guaranteed approval don’t exist. Even so, this shouldn’t discourage you from applying for a payday loan, since you can still do a lot to maximize your approval odds.

When you apply for a payday loan, be sure to have all your documents ready, and ask for less money if you can. Also, we highly recommend starting your search with LendYou, the best platform out there to find a payday loan.

When doing research, Credit Help Info relies on credible and authoritative sites. These research sources are provided so that you can see exactly where we get our information.

About the Author

Chris Morgan

Chris Morgan is a credit expert and founder of Credit Help Info. He has been featured in Addition Financial, GOBankingRates, MSN Money, Yahoo Finance, and many other publications. He has read hundreds of books and resources on finance and the credit industry. Because he did this, you don’t have to. As a school teacher for over 20 years, Chris enjoys taking complicated material and breaking it down into manageable information that’s easy to understand.

Learn more about Chris Morgan

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