If your credit isn’t great but you need a loan, you might be wondering if you can get a personal loan with no credit check. And the truth is, most personal loans require a hard credit check to qualify. However, there are some no credit check loans that most borrowers can qualify for, regardless of their credit score.
What is a no credit check personal loan?
A no credit check personal loan is simply a loan where the lender doesn’t require a credit check to determine loan approval. This feature makes it easier to get a loan for people with no credit history or that have poor credit. It’s also an option for borrowers who have good credit but don’t want to lose a few points just by applying for a loan.
However, the convenience of any no credit check loan comes with significant drawbacks. For one, lenders generally offset the increased risk of these loans by charging interest rates into the triple digits. In addition, loan amounts are typically small — usually $1,000 or less — and loan terms are short. Common types of no credit check loans include payday loans, title loans and cash advance apps.
Can I get a no credit check personal loan?
Most personal loans require credit checks, and we only found one legit lender that offers no credit check for personal loans.
However, even with a no credit check loan, you’ll likely still need to meet certain qualifications. Most lenders rely on factors such as employment, income and banking history to determine loan approval.
One of the primary advantages of a no credit check loan is that just about anyone can get one, but it’s not a slam dunk.
No credit check personal loans
Legit personal loans essentially all require hard credit checks to qualify, which can temporarily shave a few points off your credit score. But we found one lender — OppLoans — that only conducts a soft credit pull, so it won’t dent your score.
OppLoans offers personal loans up to $4,000 with loan terms ranging from nine to 18 months, offering higher loan amounts and longer repayment periods than most no credit check loans. Its interest rates are high at 160% to 179%, but that's still lower than payday loans, which can reach up to 400% or more.
OppLoans reports payments to the credit bureaus so you can build credit and ideally qualify for less expensive credit in the future. But you need to get paid by direct deposit to be eligible, and OppLoans isn't available in all states.
Loan amount
$500 - $4,000
Turnaround time
As soon as the same business day
Costs
160% - 179% APR
Online application
Yes
Not available in: Colorado, Connecticut, Georgia, Iowa, Maryland, Massachusetts, New York, South Dakota, Vermont, Washington, West Virginia
OppLoans offers personal loans up to $4,000 with loan terms ranging from nine to 18 months, offering higher loan amounts and longer repayment periods than most no credit check loans. Its interest rates are high at 160% to 179%, but that's still lower than payday loans, which can reach up to 400% or more.
OppLoans reports payments to the credit bureaus so you can build credit and ideally qualify for less expensive credit in the future. But you need to get paid by direct deposit to be eligible, and OppLoans isn't available in all states.
But most apps aren’t free — you may need to pay for a monthly subscription. Plus, the apps typically charge fees for fast transfers, and the advance is normally due on your next payday.
Payday loans are usually small, short-term loans you pay back within two to four weeks. Lenders that offer payday loans don’t care what your credit score is, but they charge high interest rates or fees that can equate to around 400% APR in some states. Plus, they don’t help you build credit, and relying on payday loans can put you at risk of falling into a cycle of debt that can be difficult to break.
Title loans
Title loans are fairly similar to payday loans — and are sometimes offered by the same lenders — except they’re secured by your car, boat or other vehicle. You can typically borrow more than you would with a payday loan without a credit check, but they are an expensive form of borrowing and are usually due within 30 days.
Pawn shop loans
If you have other items of value — such as used electronics — you could take them to a pawn shop and get a fast loan today with no credit check. But the fees to borrow are high, you’ll only have a short time to repay it and you risk losing your valuables if you can’t pay it back. However, you can also just sell items you no longer need to the pawn shop for a quick influx of cash.
Buy now, pay later (BNPL)
The option to buy now, pay later isn’t technically a loan — it’s more like short-term credit — but it allows you to make larger purchases and pay them off in several installments. Usually, no credit check is required, and in many cases, you won’t have to pay interest or fees.
But if you’re late or miss a payment, you’re charged extra. Plus, BNPL deals can encourage making purchases you don’t really need, and you can’t use them for more practical purposes such as paying your rent or other bills.
Friends or family loans
Getting a loan from a friend or family member may be an option to borrow money without a credit check, but it’s not to be taken lightly. If you decide to go this route, consider putting the terms in writing so both parties know what to expect.
Costs of no credit check loans
The exact costs of no credit check loans vary depending on the lender, the type of loan and the state you live in, but here are some rough guidelines:
Cash advance apps. Subscription fees could run from around $3 to $20 a month, and instant transfer fees may range from $2 to $25.
Payday loans. Varies by state, but typically $10 to $30 per $100 borrowed.
Title loans. Around 25% per month.
Pawn shop loans. About 20% to 25% a month, plus fees.
BNPLs. Some don’t charge interest, but others are around 30%, or roughly what department store cards typically charge.
Who are no credit check loans best for?
No credit check loans typically make the most sense for people who have poor credit or no credit history at all and don’t qualify for other loan options. Or, they may be a solution if you need a loan for an emergency and have nowhere else to turn.
Pros and cons of no credit check loans
Consider the benefits and drawbacks of no credit check loans before you sign on.
Pros
Fast funding
Credit score not a factor
Typically easy to qualify for
Cons
High rates and fees
Short loan terms
Risk of falling into a debt cycle
Risk of losing your valuables (if secured)
How to apply for a no credit check loan
It’s typically very easy to apply for a no credit check loan, and depending on the loan type, you might be able to do it all online or at a physical location.
Fill out the application.
Submit the required documentation, such as pay stubs, photo ID or banking information.
Wait for a decision, which could come in minutes.
Receive your funds.
Follow the repayment plan.
How does a no credit check lender determine your eligibility
Most lenders that offer no credit check loans have similar criteria.
Be at least 18 years old
Have a job or other source of regular income
Have a bank account
Some loans may also require that you get paid by direct deposit, but that’s not always the case.
Bottom line
It can be difficult to find personal loans that don’t require a credit check, although some may only require a soft credit pull that won’t hurt your score.
If you need a fast no credit check loan in an emergency, you may want to consider payday loans, title loans or cash advance apps. Those are some of the few true “no credit check” loans, but they can be expensive and often lead to a cycle of debt if relied upon too often.
Frequently asked questions
What is the easiest no credit check loan I can get?
Depending on your circumstances, a cash advance app may be the easiest to qualify for. Some don’t require direct deposit, your credit score isn’t a factor and if you pay extra for an instant transfer, you can have your funds in minutes.
Can I get a $4,000 loan with bad credit?
Most no credit check loans usually only have loan amounts up to $500 or $1,000. However, some personal loan lenders offer larger loans to borrowers with bad credit, but you’ll usually have to agree to a hard credit check and meet other criteria.
Are no credit check loans a bad idea?
No credit check loans tend to be very expensive and aren’t meant to be relied on for the long term. But, a no credit check loan might help in an emergency if you’ve run out of other options.
Lacey Stark is a freelance personal finance writer for Finder, specializing
in banking, loans, investing, estate planning, and more. She has 20
years of experience writing and editing for magazines, newspapers, and
online publications. A word nerd from childhood, Lacey officially got her
start reporting on live sporting events and moved on to cover topics
such as construction, technology, and travel before finding her niche in
personal finance. Originally from New England, she received her
bachelor’s degree from the University of Denver and completed a
postgraduate journalism program at Metropolitan State University also
in Denver. She currently lives in Chicagoland with her dog Chunk and
likes to read and play golf. See full bio
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