Having bad credit can be a real obstacle when it comes to borrowing money. Whether you need extra cash for an unexpected expense or are looking to consolidate debt, it can be difficult, if not impossible, to get approved for a loan with traditional lenders. Fortunately, there are bad credit loans available from online lenders that can help you get the cash you need.
Bad credit loans are a type of loan specifically designed for people with a bad or poor credit history. People who have defaulted on their loans, missed credit card payments, or filed for bankruptcy are generally considered to have bad credit. There are many lenders that offer bad credit loans, but not all of them are created equal.
Here is our curated list of the 10 best loans for bad credit:
1. WeLoans – From handling emergency expenses to paying off credit card bills, WeLoans provides easy personal loans and other bad credit loans for anyone with just a soft credit check. With flexible eligibility requirements and an easy application process, you can get loans for bad credit up to $5,000 effortlessly with WeLoans.
2. CocoLoan – Benefit from quick funding and affordable interest loans for bad credit with no hard credit check with CocoLoan. You can apply for up to $35,000 in instant loans from CocoLoan.
3. US Bad Credit Loans – Being one of the most prominent names in the bad credit loan industry, US Bad Credit Loans offers loans for people with bad credit with reasonable APRs. There is no collateral or guarantor required, and you can get up to $30,000 as bad credit loans with easy approval from US Bad Credit Loans.
4. iPaydayLoans – If a bad credit score is your problem, then iPaydayLoans can help you get easy loans from $50 to $5,000 with guaranteed approval. They have a trustworthy pool of lenders who can access your information and give you loan offers based on your credibility without any hard credit checks.
5. US Installment Loans – US Installment Loans is an online loan broker that offers loans for people with bad credit up to $5,000 by connecting the borrowers with their pre-approved network of lenders. They offer long repayment terms and quick approval rates.
6. UnityLoan – Forget being screwed because of a low credit score. Get personal loans for bad credit with UnityLoan at affordable interest rates. You can get up to $5,000 as a loan aided by UnityLoan, which will connect you with trusted lender partners.
7. HonestLoans – Get safe payday loans up to $5,000 even if you have a bad credit score at a reasonable interest rate with HonestLoans. They also provide personal loans below $35,000 with instant approval.
8. US Title Loans – Choose from the multiple options for no credit check loans guaranteed approval from US Title Loans. They offer secured, unsecured, co-signed, personal, and many more bad credit loans at competitive rates.
9. Easy Payday Loans – Apply for easy loans between $500 and $5,000 as payday loans or personal bad credit loans from Easy Payday Loans. This credit broker will match you with the best lenders in the market to get easy same-day loans for bad credit scores.
10. Fast Title Loans – Fast loans for bad credit score? Fast title loans can help you with that. Be it for payday loans below $500 or personal loans below $5,000, Fast Title Loans has various loan options for you to choose from.
Best Bad Credit Loans Top Picks
1. WeLoans
WeLoans is an online loan broker that can help you find a matching lender from their network of approved direct lenders. WeLoans has the largest loan options to offer and a wider lender network, ensuring a higher chance of getting loans for bad credit.
All you need to do is fill out their application form with basic information about your loan needs and your credibility. When applying for loans with no credit check, you can get up to $5,000 with guaranteed and instant approval.
Pros
- Loans up to $5000
- Low credit scores are accepted
- Higher chance of approval
- Credit scores can be repaired easily
Cons
- High-interest rates
- Fixed monthly installments
Get instant loans for bad credit with WeLoans today!
2. CocoLoan
CocoLoan lets you borrow up to $35,000 with guaranteed approval. They are a loan broker who acts as a mediator between the borrower and their wide network of direct lenders. When you apply for loans for people with bad credit with CocoLoan, your application will be shared with potential lenders, who will provide you with loan offers that you can accept and receive based on the general eligibility requirements.
This loan amount can be used for multiple purposes, like medical expenses, debt consolidation, home renovations, etc. With these lenders, your credit score is not the primary criterion. So, you have a higher chance of getting approval even if your score is bad. However, you must have a steady income to qualify as a credible source for the lenders.
Pros
- Instant funding as early as 1 business day
- Flexible repayment term
- No hidden fees
- Bad credit is accepted
Cons
- Interest rates might be high
- The approval amount depends on your credibility
Want the best loans for bad credit? Get a quote today from CocoLoan!
3. US Bad Credit Loans
A bad credit score will no longer be a hindrance to getting immediate funding for your urgent needs. US Bad Credit Loans specialize in loans for people with bad credit scores.
You can apply for loans online without any hassle and get up to $5,000 with guaranteed approval.
The best thing about US Bad Credit Loans is that they understand that a bad credit score does not decide whether or not you can get a loan. As long as you have the right plan and source to pay back the loan, they will provide you with loans for bad credit with instant approval.
Pros
- Safe and secure way
- Wide pool of trusted lenders
- Quick funding process
Cons
- Not a direct lender
- Not available in all states
Visit US Bad Credit Loans now and apply for bad credit loans easily.
FAQs
1. What Is a Bad Credit Score?
A bad credit score is one that is below 580 on the FICO scale. This scale ranges from 300 to 850, with 300 being the lowest and 850 being the highest. A bad credit score can make it difficult for you to get loans, credit cards, and other forms of financial assistance.
2. Is It Possible to Get Loans With No-Credit Check?
Ideally, you can’t. Reliable lenders who offer bad credit loans will do at least a soft credit check or basic credibility check in order to ensure you can pay back the loan. Unlike a hard credit check, this will not affect your credit score.
3. What Are the Ways to Improve My Credit Score?
There are a few things you can do in order to improve your credit score:
- Keep track of your credit score regularly.
- Always pay your debts on time.
- Avoid taking out loans you can’t afford.
- Reduce your credit card utilization rate.
4. Is There a Minimum Credit Score for a Loan?
For banks and other traditional financial institutions, a minimum credit score is considered to range from 610 to 640. However, there are many bad credit loan providers, like those listed in the article, that offer loans with no minimum credit score requirement.
