The percentage of Americans with bad credit (a FICO score below 580) is 12.1%, according to Experian data. If you fall in that group, it can be hard to qualify for a personal loan.

This is where no-credit-check loans can come into play. A no-credit-check loan doesn’t take your credit history into account, meaning you may qualify no matter what’s on your report or how low your score is. While this may seem appealing, these loans often come with significant risks, such as sky-high fees or triple-digit annual percentage rates (APRs). We’ll explore these risks as well as potentially better alternatives.

Tip:

Check if you can prequalify with bad credit with a traditional lender first.

A no-credit-check loan doesn’t require a credit inquiry as part of the approval process. As a result, these loans can be easier to get, especially if you have bad to fair credit (a FICO score between 300-669).

Some of the most common no-credit-check lenders are payday loan companies. Payday loans are short-term, relatively small loans that usually must be repaid within two to four weeks. Because of their short repayment period and low dollar amounts, it’s not unusual for payday loans to have APRs in the triple digits.

Other no-credit-check loans include cash advance apps and personal loan companies that specialize in making loans to borrowers with bad credit. Buy-now-pay-later (BNPL) may also be considered a type of no-credit-check personal loan.

The approval process for a no-credit-check loan is based on factors other than your credit history, such as your employment status, income, or bank account history. If you apply for a secured loan, like a title loan, it’s also based on the collateral that you provide. 

Once you are approved for a no-credit-check loan, a lender will require you to repay funds over a specified term, which could be as short as two weeks. You repay the loan plus interest and/or fees just like any other loan.

While these loans can be easy and quick, lenders typically charge significantly higher interest rates and/or very high fees for these loans. For example, the average interest rate for a 3-year personal loan with bad credit is 33.07%, according to Credible data. No-credit-check loans, like payday loans, typically have APRs that exceed 100%.

No-credit-check loans, like payday loans and cash apps, don’t generally report repayment history to the three major credit bureaus — Equifax, Experian and Transunion. This means, they’re unlikely to help you build credit. However, if you miss payments, the debt could go into collections, which could show up on and hurt your credit report and score.

Personal loans that run a soft credit check, however, often do. If you want to improve your credit, choose a loan that reports the loan and payments to credit bureaus.

There are some no-credit-check lenders that offer long-term installment loans, like OppLoans. Such lenders may perform a soft credit check (instead of a hard pull,) which won’t impact your credit score. They also review information from alternative credit bureaus like Clarity Services and Experian. 

These types of lenders may charge triple-digit annual percentage rates (APRs). Loan amounts typically range from a few hundred to a few thousand dollars, with repayment terms usually less than two years. You can find no-credit-check installment loans through online lenders or from storefronts. 

Benefit of high-interest installment loans

• Can build credit
• Easy to qualify for
• Longer repayment term
• No hard credit pull

Risks of high-interest installment loans

• Potential damage to your credit score
• High interest costs

• Can build credit: Payments are reported to the three major credit bureaus. In other words, on time payments can help build your score.
• Easy to qualify for: Relative to traditional installment loans that check your credit, no-credit-check installment loans are easier to qualify for. 
• Longer repayment term: Compared to common no-credit-check loans like payday loans and cash apps, no-credit-check installment loans have terms that can last many months. 
• No hard credit pull: When you apply, these lenders don’t conduct a hard credit pull, so you don’t need to worry about your credit score taking a hit. 

• Potential damage to your credit score: Although they don’t conduct a hard inquiry, no-credit-check lenders may report missed payments to credit bureaus. If you fail to repay the loan, they can send your account to collections, negatively impacting your credit score.
• High interest costs: Though APRs may be lower than payday loans, since terms are longer, you could end up paying more in interest than you originally borrowed.

For example:

If you took out a $2,000 no-credit-check loan with a 12-month repayment term and an APR of 160.00%, your monthly payment would be $343, and the total cost of your loan would be $4,116. That’s $2,116 in interest.

You can download a cash advance app to your mobile phone and borrow a small amount of money quickly. These apps generally don’t perform hard or soft credit checks. Instead, they primarily assess your bank account transaction history to determine your eligibility and the amount you can borrow. 

To qualify for a cash advance you must have an active bank account and, in some cases, a qualifying direct deposit amount. For example, Varo requires you to have $800 during the current or previous calendar month.

Advance amounts typically range from $10 to $750, with some apps capping advances at $250. New users might not qualify for the maximum amount initially but can increase their borrowing limit over time. 

Benefits of cash advance apps:

• Same-day funding
• No credit check
• Optional or no fees for standard delivery

Risks of cash advance apps:

• High Fees
• Potential paycheck gap
• Small loan amounts
• Short repayment period

• Same-day funding: Cash apps can get you money the same day you apply, though it’s often for a fee.
• No credit check: While most cash apps consider your banking history and income, they don’t run a credit check (soft or hard). 
• Optional or no fees for standard delivery: Many apps don’t charge for standard delivery, which can significantly reduce borrowing costs. However, you could wait days for the funds to reach your account.

• High fees: Cash advance app fees can be high compared to the amount you borrow. Most apps offer standard delivery of funds within a couple of business days for free, but charge expedited fees ranging from $1 to $15 same-day cash. Additionally, many apps request optional tips or charge subscription fees.
• Potential paycheck gap: Using a portion of your upcoming paycheck to repay the advance can create a financial shortfall. This may lead you to rely on the app repeatedly to make ends meet, creating a difficult-to-break cycle of debt.
• Small loan amounts: Relative to installment loans…
• Short repayment period

Important:

The repayment for an advance is usually deducted from your next paycheck.

Some of the most common no-credit-check lenders are payday loan companies. Payday loans are short-term loans that usually must be repaid within two to four weeks. Loan amounts are relatively low — typically $500 or less — with fees of $10 to $30 charged for every $100 borrowed. 

The relatively short repayment period and high fees are why payday loans often have APRs in the triple digits. For comparison, the average interest rate for a two-year personal loan was 12.49%, according to Federal Reserve data, while the average APR for payday loans is over 600% in some states. 

You can obtain a payday loan from either an online lender or storefront, but there are often better options, such as payday alternative loans from a credit union or fee-free cash advance apps.

Benefits of payday loans

• Same day funding
• Easy qualification

Risks associated with payday loans

• Exorbitant fees
• Short repayment period
• Banned in several states

• Same day funding: You can get money the same day you apply. 
• Easy qualification: Payday loans are designed to be an option for borrowers with bad credit. Easy qualification is offset significantly by ultra-high fees. 

• Exorbitant fees: Fees can vary widely by state. In states where payday loans are legal, average APRs can be over 600% (Idaho and Nevada). In states that have implemented safeguards, APRs could be in the 100% range. 
• Short repayment period:  A two-week repayment period paired with excessive fees can make payday loans difficult to repay and lead to a cycle of debt.
• Banned in several states: Payday loans or extremely high-cost payday loans are prohibited in 21 states. 

Warning:

A two-week payday loan at $15 charged per $100 borrowed has an APR of almost 400%. That’s significantly higher than the maximum rate on most legitimate personal loans.

Buy now, pay later (BNPL) apps may perform a soft credit check rather than a hard inquiry to approve your loan. If you fail to repay the loan on time and in full you may be met with late fees. 

The standard BNPL plan is typically paid in four interest-free installments over six weeks. For example, you pay 25% of the purchase at checkout and the remaining amount is repaid in three installments every two weeks thereafter without interest. 

However, Depending on how much you borrow, some BNPL companies offer loans with payments up to 12 months or longer with APRs up to 36%, depending on your credit.

Benefits of BNPL

• Short term no-interest loans
• Relatively easy qualification

Risks associated with BNPL

• Difficulty budgeting
• Dependency on payment plans

• Short term no-interest loans: While exclusively available for retail purchases, BNPL lenders work with a wide range of companies, including Amazon. If you need a small short-term loan, consider buying necessary goods with BNPL in order to free up that money to use instead.
• Relatively easy qualification: Though some BNPL lenders may perform a soft-credit check for interest-free financing, BNPL is often easier to qualify for than a conventional loan.

• Difficulty budgeting: Utilizing multiple BNPL apps for various purchases can lead to challenges in managing payments, potentially resulting in late fees or even collections.
• Dependency on payment plans: Relying on payment plans for essential expenses, such as groceries, can create a cycle of debt if you struggle to pay off the purchase and cover your other monthly expenses.

One of the most challenging parts of getting a no-credit-check loan is finding a trustworthy lender that offers them. The vast majority of lenders that offer personal loans require credit checks. Whether you’re borrowing from a traditional bank, a credit union, or an online lender, you’ll have a hard time finding a no-credit-check option, but they do exist.

Here are a few no-credit-check loan lenders to consider:

Pros and cons of no-credit-check loans

Pros

• Easy access to money
• Same-day funding is often available
• May have unsecured or secured options

Cons

• High APRs
• Difficult to repay
• Usually don’t report to credit bureaus
• Often have low loan amounts

• Easy access to money: If bad credit prevents you from qualifying for a personal loan elsewhere, you may still be able to get a no-credit-check loan.
• Same-day funding is often available: Many no-credit-check lenders, including payday loan companies, offer immediate funding on loans.
• May have unsecured or secured options: Payday loans are unsecured loans. Car title loans, another no-credit-check loan option, are secured by your vehicle, which the lender can take if you default to help recoup its losses.

• High APRs: Payday loans have fees that can send the APR into the triple digits. Other no-credit-check loans, such as title loans, have a reputation for exorbitant APRs (the average is 300%), though they vary by type of loan and lender. Cash advance apps can also have triple digit APRs if you pay to get money the same day.
• Difficult to repay: Because of the quick turn-around times for repayment (often two weeks), it can be difficult to repay loans and fees on time, which can lead to a cycle of debt that's tough to get out of.
• Usually don’t report to credit bureaus: Payday lenders and other no-credit-check lenders generally don’t report your payments to the credit bureaus (though some do, so research lenders carefully), meaning the payments won't help to boost your credit score. But if you can’t pay back the loan and the account goes to collections, your score could drop significantly.
• Often have low loan amounts: No-credit-check loans often have loan amounts of $500 or less. If you need more money, they may not be the right option.

When you have bad credit, a high-APR option like a no-credit-check loan may feel like your only option. However, there are some alternatives to consider that may be less predatory and less expensive.

You don’t necessarily have to get a no-credit-check loan to get a personal loan with bad credit. There are plenty of legitimate lenders that offer personal loans to borrowers with bad credit, typically at a fraction of the interest rate offered by payday loan companies. 

A 3-year fixed rate personal loan for a consumer with a credit score under 599 has an average interest rate of 33.07%. Hard credit checks are generally required for these loans, however, which cause your score to drop by a few points temporarily.

Fox Money rating

Fixed (APR)

7.80% - 35.99%

Loan Amounts

$1000 to $50000

Min. Credit Score

Overview

Upstart has one of the lowest available APRs of Credible partner lenders and of all non-partners we reviewed, making it a good choice for well-qualified applicants. However, it's also is one of few lenders that doesn't have a minimum credit score requirement (if you apply on the lender's website), which makes it an option if you have bad credit or no credit history. Upstart may charge an origination fee as high as 12%, but good-credit borrowers may not be charged one at all.

Trustpilot gives Upstart 4.9 stars, which is the highest of all lenders we reviewed.

Loan amount

$1,000 to $50,000

Fees

Origination fee

Eligibility

Available nationwide

Min. income

Customer service

Phone, email

Soft credit check

Time to get funds

As soon as 1 to 3 business days

Loan uses

Pay off credit cards, consolidate debt, relocate, make a large purchase, and other purposes

Fox Money rating

Fixed (APR)

9.95% - 35.99%

Loan Amounts

$2000 to $35000

Min. Credit Score

Overview

Avant personal loans are a good choice for borrowers with bad credit looking for small- to moderate-sized personal loans. Loans are available up to $35,000 and you could get the money as soon as the next business day after approval. Plus, Avant is more likely than some lenders to approve the applications of borrowers who've prequalified with Avant. However, the lender charges an origination fee up to 9.99%, and its top-range interest rates are among the highest of the lenders we reviewed.

Loan amount

$2,000 to $35,000**

Fees

Origination fee, late fee, dishonored payment fee

Eligibility

Available in all states except HI, IA, MA, ME, NY, VT, and WV

Min. income

$1,200 monthly

Customer service

Phone, email

Soft credit check

Time to get funds

As soon as the next business day (if approved by 4:30 p.m. CT on a weekday)

Loan uses

Debt consolidation, emergency expense, life event, home improvement, and other purposes

Repayment terms

2 to 5 years

Fox Money rating

Fixed (APR)

9.99% - 35.99%

Loan Amounts

$1000 to $50000

Min. Credit Score

Overview

Upgrade has a suite of features that make it a very attractive lender: competitive interest rates, discounts for direct pay and autopay, as soon as same-day funding, up to seven-year repayment terms, and nationwide availability. Plus, loans are available to fair-credit borrowers, and you don't need to input your Social Security number to prequalify on the website. Upgrade even offers secured personal loans, which is not common among lenders.

However, Upgrade does charge an origination fee of 1.85% to 9.99%. You must have a FICO score of at least 600 and a minimum income of $25,000 annually to qualify.

Loan amount

$1,000 to $50,000 ($3,005 minimum in GA; $6,600 minimum in MA)

Repayment terms

2 to 7 years

Fees

Origination fee

Discounts

Autopay and direct pay

Eligibility

Available in all states

Min. income

Does not disclose

Customer service

Soft credit check

Time to get funds

1 business day

Loan uses

Credit card refinancing, debt consolidation, home improvement, major purchase, other

Fox Money rating

Fixed (APR)

11.69% - 35.99%

Loan Amounts

$1000 to $50000

Min. Credit Score

Overview

Universal Credit is one of a handful of lenders that offers personal loans for bad credit. If your FICO credit score is at least 560, you may be eligible for a Universal Credit personal loan. It offers loan amounts up to $50,000, repayment terms up to seven years, and discounts for direct pay and autopay. Funds are available as soon as the next business day after loan approval.

Note that rates and fees can be relatively high — you may pay an origination fee from 5.25% to 9.99%, and APRs start at 11.69%. If you get a loan with a high interest rate, consider refinancing your personal loan at a lower rate once you've improved your credit score.

Loan amount

$1,000 - $50,000

Repayment terms

3, 5, or 7 years

Fees

Origination fee

Discounts

Autopay and direct pay

Eligibility

A U.S. citizen or permanent resident; not available in DC, IA, SC, WV

Min. income

Customer service

Phone, email

Soft credit check

Time to get funds

As soon as 1 business day after acceptance

Loan uses

Debt consolidation, pay off credit cards, home improvements, unexpected expenses, home and auto repairs, weddings, and other major purchases

Fox Money rating

Fixed (APR)

18.00% - 35.99%

Loan Amounts

$1500 to $20000

Min. Credit Score

Overview

OneMain Financial has multiple options for bad-credit personal loans. There is no minimum credit score required (if you apply directly with OneMain), which means you could get a loan with bad credit (FICO below 580). Plus, cosigners are allowed — a cosigner is someone (ideally, with good credit) who promises to repay the loan if you can't, which can make it easier to qualify or lower your rate. And, secured personal loans are available. You secure a loan with collateral, which may also help you qualify or lower your rate.

Rates are higher than competitors and OneMain charges origination fees as either a flat fee up to $500, or a percentage from 1% to 10% (depending on your state of residence). Note that even if you prequalify for a personal loan with OneMain, getting approved isn't a given. 

Loan amount

$1,500 to $20,000

Fees

Origination fee, unsuccessful payment fee, late fee

Eligibility

Must have photo I.D. issued by U.S. federal, state or local government

Min. income

Does not disclose

Customer service

Phone, email

Soft credit check

Time to get funds

As soon as 1 to 2 days after acceptance

Loan use

All except business, and education

Fox Business does not make or arrange loans.

A PAL is a type of loan offered by certain federal credit unions to their members. They are small loans with amounts up to $2,000 and repayment terms to 12 months. Rates are capped at 28%, making them a much more affordable alternative to traditional payday loans. Some types of PALs are immediately available after joining a credit union.

If you don’t qualify for a personal loan by yourself, consider asking a friend or family member to cosign your loan. When you apply for a loan with a cosigner, the lender takes into account both your credit scores and income to determine eligibility. If you default on your payments, your cosigner will be responsible for paying back the loan. Not all personal loan lenders allow cosigners.

A secured personal loan is one that requires collateral to qualify, such as a bank account, your house, or your vehicle. Having collateral attached to the loan reduces the risk for the lender, which could mean easier qualification or a more reasonable rate for you. But you will be at risk of losing your collateral if you default.

If you have any friends or family who are in a position to lend, consider asking them for a loan. While it’s not ideal, borrowing from a loved one may be preferable to the predatory rates on payday loans. Before you borrow from a loved one, make sure you can pay them back later, and put the terms in writing to avoid any misunderstandings down the line.

These types of loans were created to help borrowers build their credit. But you typically don’t receive the money upfront like a traditional personal loan. Instead, the money is locked in a savings account and is only released once you pay off the loan.

Improve your credit:

If time isn’t of the essence, things like reducing your credit utilization or becoming an authorized user can boost your score in months, so you may not have to wait long to apply.

Fox Money rating

Fixed (APR)

6.99% - 25.49%

Loan Amounts

$5000 to $100000

Min. Credit Score

Overview

Lightstream is one of three Credible partner lenders to offer loan amounts up to $100,000, which makes it ideal for financing large expenses like home improvements or weddings. Funds are available as soon as the same day you apply, and you'll have up to 12 years to repay certain types of loans, including home improvement loans, RV loans, and boat loans. There are no origination fees, and rates are low — Lightstream's lowest APR beats SoFi's advertised lowest APR by 1 percentage point. But you'll need good credit to qualify.

Unlike most lenders, Lightstream does not let you prequalify on its site. Nor does it provide a contact phone number next to its customer service hours on its website.

Loan amount

$5,000 to $100,000

Repayment terms

2 - 20 years, depending on loan purpose

Eligibility

Available in all states except RI and VT

Min. income

Does not disclose

Customer service

Soft credit check

Time to get funds

As soon as the same business day

Loan uses

Credit card refinancing, debt consolidation, home improvement, and other purposes

Fox Money rating

Fixed (APR)

7.80% - 35.99%

Loan Amounts

$1000 to $50000

Min. Credit Score

Overview

Upstart has one of the lowest available APRs of Credible partner lenders and of all non-partners we reviewed, making it a good choice for well-qualified applicants. However, it's also is one of few lenders that doesn't have a minimum credit score requirement (if you apply on the lender's website), which makes it an option if you have bad credit or no credit history. Upstart may charge an origination fee as high as 12%, but good-credit borrowers may not be charged one at all.

Trustpilot gives Upstart 4.9 stars, which is the highest of all lenders we reviewed.

Loan amount

$1,000 to $50,000

Fees

Origination fee

Eligibility

Available nationwide

Min. income

Customer service

Phone, email

Soft credit check

Time to get funds

As soon as 1 to 3 business days

Loan uses

Pay off credit cards, consolidate debt, relocate, make a large purchase, and other purposes

Fox Money rating

Fixed (APR)

7.99% - 24.99%

Loan Amounts

$2500 to $40000

Min. Credit Score

Overview

Discover Personal Loans offers low APRs, repayment terms up to seven years, no origination fees, nationwide availability, and doesn't require your Social Security number to prequalify on its site. You'll need to have an annual income of at least $40,000, and a FICO score 660 or higher, to be eligible. If your credit score is fair or poor, you'll need to go elsewhere, as Discover doesn't allow cosigners.

Funds are available as soon as the next business day after loan approval. 

Loan amount

$2,500 - $40,000

Repayment terms

3 - 7 years

Eligibility

Available in all 50 states

Min. income

Customer service

Soft credit check

Time to get funds

Funds can be sent as soon as the next business day after acceptance

Loan uses

Auto repair, credit card refinancing, debt consolidation, home remodel or repair, major purchase, medical expenses, taxes, vacation, and wedding

Fox Money rating

Fixed (APR)

8.98% - 35.99%

Loan Amounts

$1000 to $40000

Min. Credit Score

Overview

LendingClub is a solid lender for good credit borrowers and some fair credit borrowers that apply directly on its website. It's easy to prequalify with LendingClub, especially if you're uncomfortable providing your Social Security number, as the company doesn't require it at the prequalification stage. (You will need to provide it if you move forward with a full application.)

While prequalification is not a guarantee that you'll be approved for a loan, LendingClub does a better job than most other Credible partner lenders at approving applicants that have successfully prequalified. In other words, you're less likely to have your application declined once you apply (if you've already prequalified). LendingClub may charge an origination fee between 3% and 8%.

Loan amount

$1,000 to $40,000

Fees

Origination fee

Eligibility

Available in all 50 states

Min. income

Customer service

Phone, email

Soft credit check

Time to get funds

Within 3 days

Loan uses

Debt consolidation, paying off credit cards

Fox Money rating

Fixed (APR)

8.99% - 29.99%1

Loan Amounts

$5000 to $100000

Min. Credit Score

Does not disclose

Overview

SoFi stands out for offering no-fee personal loans with competitive rates, high loan amounts, long loan terms, discounts for autopay and direct pay, and funding as soon as the same day. Plus, SoFi prioritizes convenience for existing and potential customers with features like live chat and an easy prequalification process that doesn't require your Social Security number. 

The main catch is that you need to qualify for a loan with SoFi, which can be hard to do if you don't have good credit. You also won't be able to apply with a cosigner, since SoFi doesn't accept cosigners; nor does it offer secured personal loans. 

Loan Amount

$5,000 to $100,000

Repayment terms

2 - 7 years

Fees

Option to pay an origination fee in exchange for a lower rate

Discounts

Autopay, direct pay

Eligibility

Available in all states 

Min. income

Does not disclose

Customer service

Phone, email, live chat

Soft credit check

Time to get funds

Typically within a few days, given approval and bank account verification, but sometimes within the same day

Loan uses

Solely for personal, family, or household uses

Fox Money rating

Fixed (APR)

8.99% - 35.99%

Loan Amounts

$2000 to $50000

Min. Credit Score

Overview

Best Egg is a solid lender for a wide range of borrowers and, notably, scored second for personal loan satisfaction in J.D. Power's Consumer Lending Study. It offers competitive rates, reasonable loan terms and amounts, and personal loans for fair credit. You'll need a FICO score of at least 600 to qualify, but the lower your score, the higher your APR may be. The APR includes the interest rate and origination fees, which range from 0.99% to 9.99% with Best Egg.

Note that if you successfully prequalify with Best Egg, you may be more likely to be approved for the loan relative to other lenders you prequalify with. Based on Credible data, borrowers who chose to apply for a loan with Best Egg were more than twice as likely to be approved (relative to most other Credible partners). 

Loan amount

$2,000 to $50,000

Fees

Origination fee, late fee, unsuccessful payment fee, check processing fee

Eligibility

Available in all states except DC, IA, VT, and WV

Min. income

Customer service

Phone, email 

Soft credit check

Time to get funds

As soon as 1 to 3 business days after successful verification

Loan uses

Credit card refinancing, debt consolidation, home improvement, and other purposes

Fox Money rating

Fixed (APR)

9.95% - 35.99%

Loan Amounts

$2000 to $35000

Min. Credit Score

Overview

Avant personal loans are a good choice for borrowers with bad credit looking for small- to moderate-sized personal loans. Loans are available up to $35,000 and you could get the money as soon as the next business day after approval. Plus, Avant is more likely than some lenders to approve the applications of borrowers who've prequalified with Avant. However, the lender charges an origination fee up to 9.99%, and its top-range interest rates are among the highest of the lenders we reviewed.

Loan amount

$2,000 to $35,000**

Fees

Origination fee, late fee, dishonored payment fee

Eligibility

Available in all states except HI, IA, MA, ME, NY, VT, and WV

Min. income

$1,200 monthly

Customer service

Phone, email

Soft credit check

Time to get funds

As soon as the next business day (if approved by 4:30 p.m. CT on a weekday)

Loan uses

Debt consolidation, emergency expense, life event, home improvement, and other purposes

Repayment terms

2 to 5 years

Fox Money rating

Fixed (APR)

9.99% - 35.99%

Loan Amounts

$1000 to $50000

Min. Credit Score

Overview

Upgrade has a suite of features that make it a very attractive lender: competitive interest rates, discounts for direct pay and autopay, as soon as same-day funding, up to seven-year repayment terms, and nationwide availability. Plus, loans are available to fair-credit borrowers, and you don't need to input your Social Security number to prequalify on the website. Upgrade even offers secured personal loans, which is not common among lenders.

However, Upgrade does charge an origination fee of 1.85% to 9.99%. You must have a FICO score of at least 600 and a minimum income of $25,000 annually to qualify.

Loan amount

$1,000 to $50,000 ($3,005 minimum in GA; $6,600 minimum in MA)

Repayment terms

2 to 7 years

Fees

Origination fee

Discounts

Autopay and direct pay

Eligibility

Available in all states

Min. income

Does not disclose

Customer service

Soft credit check

Time to get funds

1 business day

Loan uses

Credit card refinancing, debt consolidation, home improvement, major purchase, other

Fox Money rating

Fixed (APR)

10.95% - 24.51%

Loan Amounts

$5000 to $35000

Min. Credit Score

Overview

It’s worth considering a personal loan through Splash if you have good credit (ideally, a FICO score above 700). The platform offers loans from a wide range of lenders, and next-day funding is available. Plus, Splash has a live chat feature so you can get real-time answers without having to wait on hold or for an email. Loans are available up to $100,000 if you apply via Splash’s website.

Rates are competitive, but borrowers with excellent credit may find lower APRs elsewhere. If you need a repayment term longer than five years, you’ll need to look elsewhere as well. 

Loan amount

$5,000 - $100,000 (up to $35,000 on Credible)

Fees

Origination fee

Eligibility

Available in all states except VT. OH and NM net disbursed amount must be greater than $5,000. MA must be greater than $6,000

Min. income

Customer service

Soft credit check

Time to get funds

Same day available, typically 1-3 days

Loan uses

Debt consolidation, home improvement, medical expenses, major purchases

Fox Money rating

Fixed (APR)

11.69% - 35.99%

Loan Amounts

$1000 to $50000

Min. Credit Score

Overview

Universal Credit is one of a handful of lenders that offers personal loans for bad credit. If your FICO credit score is at least 560, you may be eligible for a Universal Credit personal loan. It offers loan amounts up to $50,000, repayment terms up to seven years, and discounts for direct pay and autopay. Funds are available as soon as the next business day after loan approval.

Note that rates and fees can be relatively high — you may pay an origination fee from 5.25% to 9.99%, and APRs start at 11.69%. If you get a loan with a high interest rate, consider refinancing your personal loan at a lower rate once you've improved your credit score.

Loan amount

$1,000 - $50,000

Repayment terms

3, 5, or 7 years

Fees

Origination fee

Discounts

Autopay and direct pay

Eligibility

A U.S. citizen or permanent resident; not available in DC, IA, SC, WV

Min. income

Customer service

Phone, email

Soft credit check

Time to get funds

As soon as 1 business day after acceptance

Loan uses

Debt consolidation, pay off credit cards, home improvements, unexpected expenses, home and auto repairs, weddings, and other major purchases

Fox Money rating

Fixed (APR)

11.72% - 17.99%

Loan Amounts

$5000 to $40000

Min. Credit Score

Overview

Happy Money has been in operation since 2009 (formerly known as Payoff). It's an option for fair-credit borrowers (plus those with better credit), and notably has a relatively low top-end APR. In other words, you could qualify for a lower rate with Happy Money with fair credit, relative to other lenders that offer fair-credit loans. The company does charge an origination fee on some loans, up to 5%, but that's not as high as some other lenders' origination fees.

You should be prepared to wait a few days to get your money, as funding can take three to five days once approved. And loans aren't available in Massachusetts or Nevada. Happy Money has an A+ rating with the BBB and is ideal for debt consolidation and credit card consolidation loans.

Loan amount

$3,000 to $40,000

Fees

Origination fee

Eligibility

Available in all states except MA, MS, NV, and OH

Min. income

Customer service

Phone, email, chat

Soft credit check

Time to get funds

As soon as 2 - 5 business days after verification

Loan uses

Debt consolidation and credit card consolidation only

Fox Money rating

Fixed (APR)

11.96% - 21.38%

Loan Amounts

$20000 to $200000

Min. Credit Score

Overview

BHG Financial stands out for offering the largest loan amounts — up to $200,000 — of any Credible partner lenders. Simply put, if you need an unsecured personal loan over $100,000, there are very few places to look, but BHG is one. You'll have up to 10 years to repay the loan, but you'll need an annual income of at least $100,000 to qualify and a FICO score that's 660 or higher. However, if you have a cosigner that meets these requirements, BHG will consider your application.

Loan amounts start at $20,000, so look elsewhere for small loans. And BHG charges a modest origination fee between 2% and 4%, depending on your financial profile. Loan funds are available within three to 14 days of loan approval. Note that you can't prequalify with BHG.

Loan amount

$20,000 - $200,000

Repayment terms

3 - 10 years

Fees

Origination fees, late fees

Eligibility

Available in all states except Maryland, Illinois, North Dakota, and Montana

Min. income

Customer service

Email, phone

Soft credit check

Not on lender's site

Time to get funds

In as few as 5 days

Loan uses

Debt consolidation, baby (adoption), engagement ring financing, moving (relocation), business, home improvement, special occasion, cosmetic procedures, major purchase, taxes, credit card refinancing, medical expenses, vacation, wedding, other

Fox Money rating

Fixed (APR)

14.30% - 35.99%

Loan Amounts

$3500 to $40000

Min. Credit Score

Overview

Reach is an option if you have fair credit, especially if you need money fast. According to the company, 90% of Reach personal loans are funded within one day of approval.

It's a good choice for debt consolidation and credit card refinancing, but borrowers with excellent credit may not find the lowest rates with Reach. The company also charges more fees than some of its competitors and doesn't offer direct pay or autopay discounts. If you need a 7-year term loan, you'll need to look elsewhere. Reach personal loans are not available in all states.

Loan amount

$3,500 to $40,000

Fees

Origination Fee, $15 Late Fee, $25 NSF Fee

Eligibility

Available in all states except CO, CT, ME, NV, NH, TN, VT, WV, WY, and all U.S. Territories

Min. income

$1,000 monthly

Customer service

Phone, email

Soft credit check

Time to get funds

Funds typically deposited into your account in 1 business day13

Loan uses

Debt consolidation, credit card refinancing

Fox Money rating

Fixed (APR)

18.00% - 35.99%

Loan Amounts

$1500 to $20000

Min. Credit Score

Overview

OneMain Financial has multiple options for bad-credit personal loans. There is no minimum credit score required (if you apply directly with OneMain), which means you could get a loan with bad credit (FICO below 580). Plus, cosigners are allowed — a cosigner is someone (ideally, with good credit) who promises to repay the loan if you can't, which can make it easier to qualify or lower your rate. And, secured personal loans are available. You secure a loan with collateral, which may also help you qualify or lower your rate.

Rates are higher than competitors and OneMain charges origination fees as either a flat fee up to $500, or a percentage from 1% to 10% (depending on your state of residence). Note that even if you prequalify for a personal loan with OneMain, getting approved isn't a given. 

Loan amount

$1,500 to $20,000

Fees

Origination fee, unsuccessful payment fee, late fee

Eligibility

Must have photo I.D. issued by U.S. federal, state or local government

Min. income

Does not disclose

Customer service

Phone, email

Soft credit check

Time to get funds

As soon as 1 to 2 days after acceptance

Loan use

All except business, and education

Fox Business does not make or arrange loans.

The most common type of no-credit-check loan is a payday loan. However, other types of loans that may not require a credit check are car title loans, cash advance apps, payday alternative loans, and high-interest installment loans.

To get a no-credit-check loan, start by shopping various lenders. Because of the high rates and risks commonly associated with these loans, it’s important to do your due diligence to find a good lender. Once you’ve chosen a lender, you’ll be able to complete your application, provide any required financial information, and then receive your loan funds.

There are several places where you can get no-credit-check loans, including both online and in-person lenders. You may use a local storefront lender to get a payday loan or a car title loan. Or, you may use an app or online lender to get a high-interest installment loan, get a cash advance, or use a buy now, pay later service.

Tim Maxwell

Tim Maxwell is a financial writer with over two decades of experience. Tim’s work has appeared in USA Today, Washington Post, Bankrate, LendingTree, Fox Business, Credible and more. He also publishes Incomist, a personal finance site that focuses on paying off debt by earning extra income in creative ways.

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