The Best No Credit Check Payday Loans Online

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Author : Chris Morgan
Updated on : July 21st, 2021

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If you’re in need of a loan and you have poor credit, you should be familiar with no credit check payday loans. In short, a no credit check payday loan can get you instant cash quickly without further hurting your credit score. One of the best online lenders of these loans is Personal Loans.

Trying to get a normal loan with poor credit can feel impossible. Moreover, it can be very time-consuming going to different banks and credit unions to apply for them. This is where a no credit check payday loan can help, despite the negative things you may have heard about them.

In this detailed post, we’ll cover everything about no credit check payday loans and review the best online lenders that offer them.

How Can I Borrow Money Without a Credit Check?

Usually, lenders will perform a credit check every time you apply for a loan. This applies broadly across all personal installment loans, like auto loans and credit cards.

If you have a poor credit score, you may be denied these loans outright. Even if you do get the loan, the credit check will lower your credit score by a few points in the short term.

To get around this, there are some ways to borrow money without a credit check. Some of these include pawnshop loans, title loans, and bad credit loans, which we’ll discuss later in this article. However, one of the fastest ways is a no credit check payday loan.

What Are No Credit Check Payday Loans?

There are two characteristics of a no credit check payday loan:

  • No Credit Check: The first part is self-explanatory. These loans do not involve a look at your credit, making it a viable option for those with a low credit score.
  • Payday Loan: These loans usually have to be paid in a single lump sum within 15 to 30 days. It’s called a “payday” loan because you typically have to repay this loan in full when you get your next paycheck.

Instead of checking your credit, a lender will request information about your employment, income, and bank account. Once they verify your next payday can cover the loan repayment, they’ll issue your loan directly to your bank account.

No credit check payday loans are usually small amounts of around $500 or less. They are not meant to cover large or luxurious expenses, and should be reserved for emergencies only.

Different states have different maximum loan amounts and terms. The National Conference of State Legislatures offers a full list of state-specific payday laws.

Also, interest rates on no credit check payday loans tend to be extremely high: close to 400% APR on average. Before taking one of these loans, be absolutely sure that you’ll be able to pay it off on time!

No Credit Check Payday Loans vs. Personal Installment Loans

Here are some key differences between no credit check payday loans and regular personal installment loans:

  • Repayment Time: A no credit check payday loan will usually need to be repaid in 15 to 30 days. Personal installment loans can have much longer terms, from a few months to many years.
  • Repayment Method: You’re expected to repay a payday loan in a single lump sum. Installment loans are named as such because you pay them back in monthly installments.
  • Interest Rates: Payday loans have very high interest rates of around 391%. Depending on the loan, installment loans will usually have interest rates anywhere between 3% to 10%. The average 24-month personal loan had an interest rate of 9.46% in early 2021.
  • Loan Amount: Payday loans are small--around $500 to a couple thousand maximum. Installment loans can be much larger.
  • Credit Check: As we’ve seen, no credit check payday loans won’t involve a credit check. However, just about any installment loan will require one.

When Should You Consider a No Credit Check Payday Loan?

A no credit check payday loan is for those who need money to cover a small, sudden emergency expense, and cannot secure a regular loan due to bad credit. Some of the most common reasons to get a payday loan include:

  • Rent or mortgage payment
  • Utility bills
  • Family or children-related expenses

We do not recommend getting a payday loan to cover:

  • Entertainment costs, i.e. travel
  • “Holiday loans,” i.e. Christmas presents
  • Leisure, i.e. new furniture or new car

Basically, you should only use a no credit check payday loan to pay for real emergencies. Otherwise, if you aren’t able to make a timely repayment, your debt could quickly spiral out of control.

Advantages of No Credit Check Payday Loans

The biggest advantage is that securing the loan won’t involve a credit check. This makes them easy to access for just about anyone. Even if you have bad credit, you’ll be able to get a small loan in case of emergencies.

Secondly, there are fewer requirements for payday loans. All you really need is proof of income and a bank account, and the lender will most likely approve you.

Finally, a payday loan is unsecured, meaning you don’t have to give anything up as collateral to get the loan. This is different from pawn shop loans or title loans, which are common alternatives to payday loans.

Disadvantages of No Credit Check Payday Loans

The most obvious disadvantage of no credit check payday loans is that they are extremely expensive. With the average APR at around 400%, a $500 payday loan results in a $578 payment for a 2 week loan term.

Moreover, if you miss the initial repayment, your debt could quickly multiply and get out of hand.

Finally, repaying the loan usually won’t show up on your credit report. However, missing payments may still end up on your report as a collection. Because of all these reasons, it’s even more important to make sure you don’t miss the repayment date on a payday loan.

Can You Get a Loan On The Same Day You Apply?

In general, payday loans are granted quickly. Because there’s no credit check process, an online lender could give you the loan within hours of your application.

Some companies such as Personal Loans can get you connected to funding options within minutes. Some services go as far as to advertise 1 hour payday loans with no credit check, provided you live near one of their physical locations.

What Do You Need To Apply For a No Credit Check Payday Loan?

Here are the usual requirements to apply and qualify for a no credit check payday loan:

  • You are at least 18 years old
  • Valid government-issued ID
  • Proof of employment and income, i.e. a past paycheck
  • Active checking account

Also, online lenders may or may not ask you the reason for your loan. If they do, your answer may affect the outcome of your application.

Are There No Credit Check Payday Loans with Guaranteed Approval?

It’s difficult to say that there are no credit check loans with guaranteed approval. However, the approval rate for payday loans tends to be very high.

Your best odds for getting payday loans with no credit check and instant approval is to find a reputable online lender. We will introduce some of the best choices later in this article.

Alternatives To No Credit Check Payday Loans

It’s worth knowing what some of your other options are if you don’t want a payday loan. Some of the most common alternatives are pawn shop loans, title loans, and bad credit loans.

Pawn Shop Loans

In a pawn shop loan, you give a pawnbroker (the shop owner) an item and get a cash loan in return. Usually, the pawnbroker will evaluate the value of the item, and offer you a loan that’s around 20 to 50 percent of the item’s value. You’ll get a pawn ticket that summarizes your loan terms.

Depending on what you pawn, loan amounts will vary. In general, they could range anywhere from $10 to $1,000. 

Unlike payday loans which are unsecured, pawn loans are considered a special type of secured loan. This is because you need to give up an item as collateral in order to receive the loan. If you fail to pay back the loan, you’ll lose your item, though this won’t show up on your credit report.

Title Loans

Title loans are another common alternative to payday loans. They are similar to pawn shop loans, but instead of any item, they use your car as collateral.

Title loan lenders will lend about 25 to 50 percent of your car’s value. Depending on the value of your car, this can mean several thousand dollars to work with, which is significantly more than most pawn loans or payday loans.

However, this also means it’s very bad if you fail to repay a title loan, since the lender has the right to take your car. Title loans are also relatively short-term, with loan terms of a few months at the max.

Bad Credit Loans

Bad credit loans are similar to installment loans in that you repay the debt in fixed monthly payments. They are reserved for those with low credit scores (i.e. below 630 on the FICO Score scale).

If you don’t want to give up an item as collateral, this is a great option. However, you could be living with this debt for a while, as loan terms can last several years. With APRs between 20 to 30 percent, make sure you have a good reason for taking out the loan.

The Best No Credit Check Payday Loans Online

If you are looking for a no credit check payday loan, here are our top recommendations.

Personal Loans

At the top of our list is Personal Loans, our top recommendation. Personal Loans is an online platform that connects you with many different lenders. They offer many different types of loans, with payday loans being one of them.

Filling out a loan application is very easy. Within minutes, you’ll be able to see multiple lending options presented to you. What we like best about this step is that you get to see all these options obligation-free, meaning you don’t need to give your bank information or commit to any loan to see all the offers.

In addition, because multiple lenders will be competing for your loan, you’ll tend to see better rates at Personal Loans. As you’re able to compare offers, you have a higher chance at landing a better deal.

Perhaps the only con with Personal Loans is that they aren’t a direct lender. This means they will not be involved with the loan after you’ve accepted an offer. Because of this, you should always read the loan terms carefully.

Funding time varies from lender to lender, but many Personal Loans customers are able to get their loan one business day after their request. Due to their competitive rates and overall ease of use, Personal Loans is the best choice for most people.

Bad Credit Loans

Bad Credit Loans Logo

Similar to Personal Loans, Bad Credit Loans is also an online platform that connects you with other lenders. Bad Credit Loans has helped many clients with poor credit scores secure small to midsize loans.

Bad Credit Loans can help you get a loan up to $10,000. When you submit your request, you’ll have to provide information such as your income source, employer name, when you get paid, as well as your banking information. These are all typical asks for payday loans.

Unlike Personal Loans, at Bad Credit Loans you’ll have to provide all this information before you get to see a quote. This can seem like a huge negative for some. However, Bad Credit Loans counters this by claiming that you’ll save time shopping around for offers, since they’ll already be optimized for you.

Bad Credit Loans is also not a direct lender, so review your loan offers carefully before accepting.

All in all, Bad Credit Loans is best for those who have struggled to find standard loans elsewhere. We’re not fans of having to give up your information before seeing a quote, but their online process is quick and you can get your funds within one business day.

Check Into Cash

Check Into Cash Logo

Check Into Cash is a popular direct lender that is accredited by the BBB with an A+ rating. They offer payday loans online in 22 US states. After filling out their application, you could receive between $50 and $1,500 depending on a number of factors.

Unlike our previous two recommendations, Check Into Cash has convenience store locations across the country. This means that if you are close to one of these locations, you could get your money on the same day. Otherwise, you’ll get your funds in one business day.

Unfortunately, since Check Into Cash is not a direct lender, if you don’t like the terms of their loan, you don’t really have the option to negotiate with them. You’ll probably just need to find a deal with a different lender.

However, some people like that it’s a “take it or leave it” offer, since it requires less work on your end. If this is you, and you happen to live nearby a convenience store location, Check Into Cash could be the best, fastest option for you to get a payday loan.

Cash Advance Logo

Cash Advance is an older online platform that also connects lenders with those in need. They typically offer payday loans ranging from $100 to $1,000.

In order to make sure you can repay the loan, they require that you are currently employed and earn at least $1,000 a month. Once you finish your application, Cash Advance will attempt to connect you with a lender.

It’s important to realize that no online lending platform can guarantee to connect you with a lender. However, in terms of reliability, Personal Loans clients tend to see more offers more quickly than Cash Advance clients.

Cash Advance is still a reputable lender that has a longer history in business compared to other platforms. They are a great choice for those who are wary of trusting an online service with their personal information for a payday loan.

Conclusion and Next Steps

No credit check payday loans don’t have the greatest reputation, so it’s very important to understand how they work and where to find good deals. When used correctly, a payday loan can effectively help you relieve short-term debt. The rule of thumb is that you absolutely must be able to pay the loan back on time.

We’ve covered four popular online payday lenders in this article, and suggest trying out Personal Loans. After a quick application, they can connect you with lenders who can provide you with funds as quickly as one business day.

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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