If you’re suffering from bad credit, you’re not alone. Almost a third of all Americans have a credit score that’s lower than 601, which is often considered the line between fair and bad credit.
If you have bad credit but need money fast, it can seem like your situation is hopeless. But luckily, there is a solution that can help you get the money you need, without the credit check.
Keep reading to learn how you can get an option when no credit check loans aren’t available today.
Determine How Much You Need
Before you start requesting a loan besides a no credit check loan, you need to determine how much money you need.
There is likely a catalyst to your current money troubles. Maybe your car broke down and you need to repair it. Or you lost your job and can’t cover rent or buy food.
Consider what put you in your current situation, and how much money you’ll need to get you through until your next paycheck comes in. Consider your food costs, rent, and any other expenses, like utilities, bills, or school tuition.
Once you’ve determined how much you’ll need, think about how much money you have that you could use to cover it. This includes money in your checking account, as well as any savings that you could dip into or credit cards that you could use.
Avoid maxing out your credit cards to cover your costs. This can be a worse choice than a loan other than a no credit check loan and can put you further into debt.
Once you’ve added up your costs and deducted any money you have available to cover them the remaining number will tell you how much money you need to get through a loan.
Avoid Asking for Too Much
The above steps can help you figure out how much money you need to get through a loan other than a no credit check loan. Once you’ve figured out that total, be sure to stick to it.
Borrowing too much money with a loan is a mistake. While you may think you’ll have enough to pay it back using future paychecks, things can change unexpectedly. You could lose your job, or get your hours cut.
Other unexpected costs could arise and take up your available funds.
Only borrowing the amount that you need will make it easier to pay back your loans in the future.
Find the Right Type of Loan
When you first start shopping for loans, the process can seem overwhelming. After all, there are tons of different types of loans out there. Each has its own specific requirements, details, amounts, and processes for requesting.
Choosing the right loan for your needs is important.
When you need a loan that doesn’t require a credit check, your options become fewer. The main options you’ll have are a payday loan or a personal loan.
Payday Loan
A payday loan is a short-term loan designed to get borrowers through until their next paycheck.
Payday loans typically only offer small loans, which means that they aren’t great for those who need to cover major expenses.
Because you use proof of employment and pay to get a payday loan, you won’t need a credit check. Payday loans are also often quick to request and receive, which can be a great solution for those who need money as quickly as possible.
No credit check, while sounds good doesn’t actually exist. Our lenders do soft credit checks to start, which won’t affect your credit score, which means no further damage will occur if you can’t pay off your loan right away. But beware, not paying on time will cause you to incur additional fees.
Personal Loan
Personal loans allow you to borrow greater amounts than payday loans. But they also require a bit longer request process. They usually also come with a fixed interest rate and payment period.
Personal loans are sometimes available in short-term periods, making them similar to payday loans. If you need more money, a personal loan might be the right option for you.
Requesting Your Loan
Once you’ve determined how much money you need and what type of loan is right for you, it’s time to start requesting a loan.
If you’re worried that a loan other than a no credit check loan will mean more paperwork or a more complicated process, fear not. It’s simple and easy to request a loan without a credit check.
First, you’ll need to review the requirements for personal and payday loans. You’ll usually need to be over the age of eighteen, have an active bank account, and have access to a mobile phone for confirmation purposes if you are requesting a loan online.
Next, you’ll need to create an online account with the lender service, fill in personal information, list the amount of money that you’re requesting, and then submit the form.
When your loan is approved, you’ll get a notification. You’ll get access to your money through a deposit in your checking account as quick as one business day after confirmation is received.
Get a loan besides a No Credit Check Loan Today
More than 40 percent of Americans live paycheck to paycheck. This means that when unexpected costs or financial strain arises, money can become scarce.
Loans can help. If you have bad credit, choosing something besides a no credit check loan can help you get the money you need, and fast. Pay for car repairs, cover your bills or living expenses until your next paycheck, or use it for whatever other costs you have.
If you are responsible and take measure to pay back your debts, and avoid borrowing too much, payday and personal loans can be a responsible way to make ends meet during tough times.
If you need money fast and have poor credit, start the process to request one of our loans other than no credit check loans today. We’ll help walk you through the process of requesting the loan, making it simple and stress-free.