A no credit check loan is a type of loan that does not require a hard inquiry into your credit report during the application process. That means the specifics of your credit history do not factor into approval for the loan. Loans with no credit check do not guarantee approval, though. Whether or not you qualify depends on other things, like income or collateral to secure the loan, instead.
Best No Credit Check Loans
The best no credit check loans overall are from NetCredit, OppLoans, LendUp and Integra Credit. While loans from these lenders are quite expensive, they’re a reasonable alternative to predatory payday loans and auto title loans. That said, if you get a loan from one of these lenders, you should strive to pay it back as quickly as possible to avoid owing a lot of interest.
Best No Credit Check Loans
NetCredit ranks among the lenders with the best no credit check loans because it offers between $1,000 and $10,500 in funding, which is a fairly large range, with no collateral required. It also gives 6 to 60 months for loan payoff, and the APRs are among the lowest offered by lenders with no credit check, at 36% - 65% (varies by state). Plus, NetCredit customers can usually get approved and funded in 1 to 3 business days. On the other hand, one notable negative is the fact that NetCredit charges a 1% - 5% origination fee.
WalletHub’s editors award NetCredit a score of 2.5/5.
OppLoans offers some of the best no credit check loans because even though their APR range is high, at 59% - 160%, it’s still a lot lower than the rates that payday lenders charge. OppLoans does not require collateral for loans and has no origination fee, and it usually takes just 1 to 2 business days to get funded. One drawback, aside from the high APRs, is that borrowers can only get $500 - $4,000 in funding.
WalletHub’s editors give OppLoans a score of 2.4/5.
LendUp offers some of the best no credit check loans for very small dollar amounts. It only lends a few hundred dollars at a time but does not charge an origination fee or require collateral. LendUp also offers approval and funding in 1 to 2 business days. However, LendUp requires loan repayment in 7-30 days, and its APRs are extremely expensive, at 214.13% - 913.71%.
LendUp gets a score of 2.2/5 from WalletHub’s editors.
Integra Credit ranks among the lenders with the best no credit check loans because it offers approval and funding in as little as one business day and does not charge an origination fee or require collateral. Integra credit offers $500 - $3,000 in funding for 6 to 18 months, which is a decent amount of time for a relatively small loan. Integra Credit has very expensive APRs, however, at 99% - 300%.
Integra Credit receives a rating of 1.9/5 from WalletHub’s editors.
Other Ways To Get No Credit Check Loans
|Lender||Why It’s Dangerous|
|Payday lender||Extremely high interest
Cuts down your next paycheck
|Pawn shop||High interest
You could lose your property
|Auto title lender||Extremely high interest
You could lose your car
|Relatives or friends||Defaulting could hurt your relationship|
Payday lender: Many payday lenders advertise having no credit check for approval. But these types of lenders are incredibly predatory. They give you a sum of money, usually $500 or less, which you must pay back using your next paycheck. But you must also pay large fees that are typically equivalent to a 400% APR. So not only will you owe far more than is reasonable in finance charges, but your next paycheck will already have a big chunk taken out of it. Avoid payday loans at all costs.
Pawn shop: Pawn shops have come more into the public eye recently with the many reality TV shows based around them. When you “pawn” something valuable, the lender gives you 25% to 60% of its value in cash as a loan. The shop keeps that item but does not sell it for a specified period of time, usually several months. If the owner of the item pays the loan back, along with monthly interest (2% to 25% or more, depending on the state), they get their item back. If not, the pawn shop can sell it.
Auto title lender: These lenders offer loans for which you have to use your auto title (the certificate that makes you the legal owner of a vehicle) as collateral. In return, the lender lets you borrow up to 25% to 50% of the value of the car, to be paid back in 15-30 days with a fee equal to as much as 25% of the amount you borrow. These loans are $100 to $5,500, on average (sometimes $10,000+), according to the Federal Trade Commission.
If you are unable to pay the loan back within the specified timeframe, the lender may “roll it over” into the next month. This gives you another month to pay it back, in return for another month’s worth of fees. Eventually, if you roll it over multiple times, the lender may take possession of your vehicle. Avoid these loans.
Loans from relatives/friends: A family member or friend doesn’t have the capability to perform a hard check of your credit. They may also be willing to give you a loan even if your credit is bad. However, it’s important to handle such a loan as professionally as you would one from a bank.
Scams: Sadly, some “no credit check loans” out there are just expensive scams. If they ask you to make any kind of upfront payment before you receive your loan, that’s a big warning sign. If they won’t disclose their fees, that’s also a red flag.
No Credit Check Loans Alternatives
Secured personal loans
Rather than trying to get a predatory loan from a sketchy lender that will charge you enormous interest rates, go with a secured loan from a well-established lender. Some major banks that offer secured personal loans include Wells Fargo, PNC, Fifth Third Bank and KeyBank. While the lender will check your credit, you should still be able to get approved with bad credit because you will have to put up collateral.
Applying with a cosigner
A cosigner is someone who takes responsibility for your loan. The lender uses that person’s credit and income to decide whether or not to approve the loan. And if you can’t afford payments along the way, the cosigner is on the hook to pay off the balance. If you can find someone with good credit and a steady income who is willing to cosign, then you should have no trouble getting approved for an unsecured loan.
People with poor credit have a few credit card options. The first is to open a secured credit card, which will give you the highest approval odds but won’t allow you to actually borrow any money. Or, you could opt for an unsecured credit card for bad credit, which won’t require a deposit but will likely charge high fees. Lastly, you can become an authorized user on someone else’s credit card. That person may allow you to borrow from their credit line.
Before you consider any kind of no credit check loan, it’s a good idea to first make sure you really have no chance of getting a regular personal loan. Your odds may actually be better than you think, as there are plenty of personal loan providers that will consider people who have bad credit.
You can use WalletHub’s free personal loan pre-qualification tool to check your odds of approval with multiple lenders at once (and see your potential rates). Pre-qualification only uses a soft credit pull, so it will not affect your credit score at all.
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