Can You Get a Bad Credit Loan Without a Credit Check?

Can You Get a Bad Credit Loan Without a Credit Check?

  • Offers that are guaranteed approval without even a soft check of your credit
  • No online presence
  • A company name that’s very similar to another big lender
  • No registration or license in your state
  • Solicitations via phone or door-to-door
  • Requests to wire money or pay another person directly
  • Unsecure website (no HTTPS in the URL)
  • Lack of a physical office location
  • Loan offers that sound too good to be true, especially for people with a very poor credit score

Simply put? No, you can’t get loans with bad credit without at least having a soft credit check. Don’t get us wrong: You can apply for a no-credit-check installment loan, which doesn’t require a credit or financial review of any kind. Usually, the companies that offer these insanely high-interest and expensive loans are just as aggressive and predatory as a payday lender.

What Is a No-Credit-Check Installment Loan?

If you’re considering applying for a bad credit personal loan, you may want to think twice-or three times!-before accepting a no-credit-check installment loan. When we say „high“ interest rates, what we really mean is astronomical. Some of these no-check lenders charge rates of 400% or more!

Instead of choosing this type of loan, consider alternative solutions. One option is to apply for a personal loan at a credit union, where you could find a loan amount from $500 and up. Since credit unions can only charge a maximum APR of 18%, this type of loan is an excellent choice for borrowers with a bad credit score. Another benefit of a credit union loan is that the approval process will include your entire credit history and other financial information instead of just your credit score. Pokračovat ve čtení „Can You Get a Bad Credit Loan Without a Credit Check?“