Guaranteed Approval Payday Loans for Bad Credit

When you’re in the middle of a financial crisis and you have bad credit, it’s easy to feel as if there are no other options available to you.

It’s during times such as these, though, when an online payday loan can give you the help you need to pull yourself out of a rut. Whether its medical fees, transportation, or a diy project, payday loans have your back.

A payday loan is a type of short-term personal loan that’s usually processed in as few as 1-2 days, usually up to $1,000, but some lenders can pony up as much as $50,000.

And the best part is that with payday loans, bad credit won’t immediately disqualify you.

In this article, we’ve listed the best guaranteed approval payday loans for bad credit, and we’ve included helpful tips for choosing the best lender for you.

What We Looked For In Guaranteed Approval Payday Loans

When reviewing the best guaranteed approval payday loans for bad credit, we took many different factors into account.

First and foremost, it mattered to us that the payday loans we chose don’t include any hidden fees or extra charges. None of these platforms charge any service fees, so you only pay what you have to.

Next, we kept an eye out for short transfer times, since we know it’s important that you get the funds you need in as quick a wait as possible.

We also took into account each company’s security & privacy policies to ensure that your personal information is kept safe.

Lastly, we understand that payday loans are often needed most by those who don’t have good credit, so we made sure to stick with platforms that consider more than your credit score when considering your application.

Best Online Payday Loans For Bad Credit

1.) Honest Loans

2.) GetFundsQuickly

3.) iCashLoans

4.) Dollar Loan Club

HonestLoans is one of the more vast marketplaces for those in search of a loan, and will even offer up to $50,000 depending on the lender.

Once you fill out & submit your application to HonestLoans, your information will be shared with a network of lenders that might be compatible with your needs and you can expect an offer in as little as 24 hours.

Features

Here are some prominent features of Honest Loans to help you decide if the services they provide are suitable for you: No Credit Check

One of the pros from HonestLoans is that your credit score won’t ruin your chance of taking out a loan, and even those with bad credit are still eligible to apply. Of course, it’s important to understand that your credit score can affect your APR.

Terms & Limits

The terms, limits and fees issued by the provider are directly related to the APR charged by the provider. It can’t be given by HonestLoans because it’s not a direct lender, instead they work with over 1,000 lenders looking to loan immediately.

A few different factors have an impact on what APR the lender might charge, such as the loan amount, credit score, and payment timing.

Transparency

HonestLoans is clear about the way they function as a lead generation service, and that lenders pay them to gain info about prospective borrowers.

According to the site, it’s not known which companies will purchase the leads, but you may come into contact with companies you’re not acquainted with.

Pros:

Quick application process
Lots of different loans
Bad credit is not held against you
Large lender network

Cons:

Not a direct lender (works with over 1,000 lenders!)
7 US states are excluded from this service

Funding Amounts- $500-$50,000 Time Frame- 24 hours

GetFundsQuickly is a lending platform that can speedily get you in touch with a personal loan, for as much as $50,000.

GetFundsQuickly is one of the quickest and easiest ways to get help in a bind, and it can help pay for all sorts of emergencies, like rent, utility bills, car expenses, and medical expenses. And with automated repayment, GetFundsQuickly can help you prevent late fees, overdraft charges and other penalties.

Features

Here are some of the factors that make GetFundsQuickly stand out:

Wide Borrow Range Loan amounts vary from $100-$50,000, but the official amount for each lender is determined by the provided information and any available payment history.

Easy & Fast Application

Typically, an online application form from GetFundsQuickly will take as little as 5 minutes. This is because it’s integrated with many lenders, which speed up the online decision of your loan request approval.

With the assistance of GetFundsQuickly, you won’t have to wait hours, days, or weeks to get your funds. Instead, the online application process is free, fast and easy, not to mention private and secure.

All Credit History Accepted

It doesn’t matter if you have a poor credit history, have filed for bankruptcy or bounced checks. GetFundsQuickly will make sure you’re connected to a willing lender.

$50,000 Next Day

GetFundsQuickly is fantastic at connecting lenders with borrowers, enabling them to get up to 50K dollars as soon as the next business day. As soon as your application is successfully confirmed and the loan request is officially approved, you can expect funds in your bank account as soon as the next business day.

Pros:

Funds as much as $50,000
All credit history accepted
quick, painless application process

Cons:

Terms & APR must be reviewed on lender’s site

Funding Amounts – $100 – $2,500 Time Frame – 24 hours

iCashLoans.co, takes the work of finding & applying for a loan and combines it into a process that’s easy and straightforward to understand. After completing a quick form on their site, you’ll get connected with lenders who can provide you with the funds you need. There are no hidden fees ever, and they’ll never ask why you need the funds requested.

Features

Here are some of the prominent qualities of iCashLoans:

No Questions Asked

iCashLoans recognizes that personal loans are a private matter, and the reason for applying for one can greatly vary. Whether it’s for an unexpected car repair or a much-needed family getaway, there’s no reason to need funds that iCashLoans will turn you away for.

Streamlined Lender Connection

In just minutes, you can expect to get connected with a lender that’s willing to work with you and fits your needs.

Fast Funding

The turnaround time for funding can vary with every lender. But with iCashLoans, you can expect to see funds in your bank account as soon as within 24 hours of approval.

Automated repayments.

When you set up automated repayments, you can avoid late fees and possible penalties.

Pros:

Won’t harm your credit
Fast funding
Get connected to a lender quickly

Cons:

Not a direct lender
APRs can be high
Lenders vary a lot

Dollar Loan Club has partnered with over hundreds of lenders, and they’re able to offer their customers a wide range of options.

Applicants for Dollar Loan Club must be a United States citizen over 18 years of age, and they must be employed at their current job for at least 90 days.

Applicants must also have around $1000 a month after income taxes.

Typically, you can acquire a loan between $100 and $5000, which is directly deposited into your bank account—in some cases as quickly as the next day.

And with their Fast Lender-Approval Process, it’s especially helpful in times of financial hardship.

Features

Here are some of the points that make Dollar Loan Club stand out:

Security & Privacy

Dollar Loan Club uses 256-bit SSL encryption while handling your data, so all your private information is kept securely in an encrypted format.

Quick Lender Connection

DollarLoanClub prides itself for connecting applicants to lenders quickly. When using Dollar Loan Club, you fill out a short form before getting connected with one of their 100+ partnered lenders. After your submission, you may be redirected to the lender’s site to review loan’s terms.

Speedy Inquiry Process

Thanks to their tech security, Dollar Loan Club can find a lender within their network that’ll work for you based on the info you submit. Once they’ve selected a lender that’s ready to work with you, the lender will get in touch with you over any additional information they might need.

Automated Repayment

If you choose to authorize automatic withdrawals, you can have your loan payments paid directly out of your bank account, so you can rest easy without worrying about late fees or missing a payment.

Pros: Loans from $100-$5000 Get connected with a lender quickly Funds as quick as the next day Secure technology Cons: New site with few reviews

Factors to Consider When Picking a Website to get a Payday Loan

It is hard to find reliable websites that connect payday loans to users with instant approval and no credit check.

Due to the growing industry with increasing competition, loan options are increasing by the day. Therefore it is important to know how to choose the correct online loan lender who meets your requirements.

The following are some essential factors to keep in mind while making a decision. So if you do plan on getting a loan, following these criteria will make sure you don’t get scammed by bad and fraudulent deals.

Company Reputation

When selecting a site for guaranteed approval payday loans for bad credit, reputation is a big factor. To check out a site’s reputation, you can look up how long the business has been in operation, and if possible, you can check out the customer reviews.

Funding Time

Payday loans are often taken out when emergencies arise, so a speedy fund release can make a huge difference in the loan you choose. It’s also important to avoid companies with a history of not releasing funds.

Terms and Conditions

When applying for a loan on any payday loan platform, it’s crucial that you understand the terms and conditions set out by the lender. Loan platforms aren’t lenders, but networks that put you in touch with one, and they’re not responsible for setting interest rates or terms.

That’s why before you select a loan, it’s essential that you read all of the information provided before accepting it, especially since loans for bad credit scores tend to charge higher interest rates.

Privacy and Security

When applying for a payday loan, you’re most likely going to have to give out personal information about your finances.

It’s especially important to note that some companies have even been caught stealing and selling users’ data to the highest bidder. That’s why it’s particularly important to choose a platform that guarantees safety & security of your data.

When perusing a site, make sure that it uses encrypted data protection, preferably ssl 26-bit.

Applying for a Loan With Bad Credit? Here’s How

See if You Prequalify

Your credit report is going to tell you a lot about your approval odds on a personal loan, but pre-qualifying online will tell you even more.

When you pre-qualify for a loan, this means that the creditor has done a basic review of your credit eligibility, typically with a soft credit check, which doesn’t impact your score. And while pre-qualifying doesn’t guarantee your approval for the loan, it does mean you’re more likely to qualify for it.

Budget, Budget, Budget

A budget is always essential to financial security, but it’s even more imperative when you’re taking on debt. Budgeting for a loan will give you a better idea what you can afford to pay each month, and where to cut costs.

Prepare Your Documents

Most lenders will require the typical documents for a loan: photo id, pay stubs and/or tax forms, and (sometimes) proof of residence. Make sure you have these ready to go so you’re not fumbling around as you apply online.

Consider Co-Signing as an Option

It’s rare for lenders to require collateral for bad credit loans, but in some cases, adding a co-signer can be helpful for your odds. When you have a cosigner, the lenders are assured that payments will be made on time; if you can’t make the payment, your co-signer will.

Submit Your Loan Application

Once your application’s been submitted, it can take anywhere from 1-7 business days for it to be reviewed and assessed by a lender. This process will likely involve a hard credit inquiry, which will have a temporary negative effect. However, you can bounce back over time, and possibly even build credit in the long run (more on this later).

So You Got Your Loan…Now What?

No matter what type of debt we take on, the golden rule is always the same: pay it off in a timely manner, and go in with a plan.

When you map out your plan, your budget should be like your bible. It’s going to be your roadmap of how much you can pay off each month and what spending to cut back on in order to save.

And most importantly, it’s going to keep you from those sleepless nights of stressing over loan payments.

Now is also a good time to consider autopay as an option.

Nowadays, most lenders will offer the option to enable autopay on your portal. When enabled, you’ll be automatically charged your monthly payment at the same time each month. Autopay helps you avoid late fees, and some even offer to lower your monthly payment as an incentive.

Will Personal Loans Help My Credit?

When we need to take on debt for expenses, the only thing better than paying it off is paying it off and building credit while doing so.

But not all loans are necessarily good for credit history, so what’s the case with payday loans? Specifically, what’s the case with guaranteed approval payday loans for bad credit?

In short, such loans may help, but that’s only if you consistently pay on time, and it likely won’t make a dramatic change to your credit score.

This is because personal loans are a type of credit known as installment credit, which can help your credit by adding a history of timely payments.

Personal loans can also diversify your credit. But if you wish to take it further, a truly diverse credit history will have both installment credit and revolving credit.

Guaranteed Approval Payday Loans for Bad Credit

What We Looked For In Guaranteed Approval Payday Loans