No Credit Check Loans

Some no credit check loans have high fees, short repayment terms, and triple-digit annual percentage rates (APRs) that make them difficult (and very expensive) to repay. The most notorious of these, payday loans, can have APRs of well over 400% in states with few regulations.

But there are safer options, including online personal loans, “buy now, pay later” (BNPL) plans, and payday alternative loans (PALs). Any of these loans could help the nearly 29% of Americans with fair or poor credit get through a funding crunch. But they're not an endgame solution and also have drawbacks.

Improving your credit with responsible debt management and credit-builder products is typically the smartest strategy. But if you need money now, it's important to know which loans to seek and which to avoid.

Best loans with no credit check (or a soft credit check)

60 Month Loans

60 Month Loans is one of our top picks due to reasonable rates, long terms, fast funding, and excellent customer service reviews. The company performs a soft credit check, which won't hurt your score. Depending on your state, loan terms range from 12 to 60 months, with typical APRs under 36%. Amounts range up to $10,000. Funds are typically disbursed one business day after you accept your loan offer.

Possible Finance

Possible Finance is a no-credit-check loan app that stands out with no late fees and free instant transfers plus helpful perks. It provides loans up to $500, depending on your state, repaid in four equal payments over eight weeks. Fees and interest charged vary by state. The maximum APR is 163%. It also offers cash advances up to $300 with a paid membership. 

The company requires that your bank account is not overdrawn, income is deposited regularly, and you don't have a history of excessive non-sufficient funds fees. Possible Finance reports to the credit bureaus to help you build credit history. It also lets you move payments out 29 days from the original due date with no rescheduling fee. 

MoneyLion

MoneyLion is a cash advance app that offers up to $500 with 0% interest and no mandatory fees, or up to $1,000 if you become a RoarMoney customer. Tipping is optional and you can elect to get your money within two to five days (to external checking account) fee-free. But if you want money instantly, Instacash turbo fees can be steep. 

You schedule repayment for your next payday, and MoneyLion takes the money out of your account automatically. You'll need a bank account with a positive balance and a history of deposits to qualify. No credit check is required, and a cash advance from MoneyLion won't impact your credit.

Loan Amounts:

$500 Loan

$1,000 Loan

$2,000 Loan

What is a no credit check loan?

A no credit check loan refers to any loan that doesn't require a credit check, also known as a credit pull or credit inquiry. Most lenders perform a credit check to view the information on your credit report, like your payment history and outstanding debt, to evaluate whether you're likely to repay a new loan. No credit check lenders don't perform a credit check, but they may have other requirements, such as proof of income and a bank account.

Loans that only require a soft credit inquiry aren't technically no credit check loans. But they won't impact your credit score if you apply for one (or several). They also tend to have more lenient credit requirements. Some loans without a credit check charge fees instead of interest, which makes it important to determine the loan's APR. The APR accounts for the interest rate and upfront fees, which makes it a good way to evaluate loan costs.

Some personal lenders, such as 60 Month Loans, as well as BNPL plans, perform a soft credit pull as part of the application process. While a poor credit score won't necessarily prevent you from getting approved for these loan types, you might not get approved for the lender's maximum loan amount.

What to know before getting a no credit check loan

While no credit check loans can help you if you have poor or no credit, they may come with risks — and other options may be better. Consider these factors before applying for a no-credit-check loan:

Higher interest rates or fees

Credit scores are typically used to determine your creditworthiness, or your ability to repay the loan. But without a credit check, lenders don't have as clear a picture. Or, they might assume that you're a credit risk. In either case, most charge higher interest rates or fees to compensate. 

Payday loan lenders and short-term loans through cash-advance apps often charge fees instead of interest, which can make it hard to compare costs. For instance, you might pay a flat fee per every $100 borrowed or pay a fee to get the money instantly. A study conducted by the Center for Responsible Lending found that the average APR for cash advances repaid in seven to 14 days was 367%, which is nearly as high as the average payday loan APR. 

Shorter repayment terms

Loans without credit checks generally have shorter repayment terms, which is another way for lenders to limit their risk. Shorter repayment terms mean higher monthly payments, which can make it more difficult for you to fit debt payments into your monthly budget.

Risk of predatory lending practices

As noted, some loans, like payday loans and even some cash advance apps, can have APRs around or above 400% — which is extremely high when you consider that most states that cap APRs cap them below 60%. Additionally, if you’re unable to repay your loan, you may end up taking out another payday loan or cash advance. According to the Consumer Financial Protection Bureau, 80% of payday loans are rolled over, meaning those borrowers take out another loan, lengthening their terms and increasing their costs. The Center for Responsible Lending found that 75% of cash app users took out a new advance on the same day or the day after repaying. 

When this is the case, many borrowers will pay more back in fees and interest than they originally borrowed.

Types of loans with no credit check

The following loan types don't require a hard credit inquiry and are available to qualified borrowers with poor credit or no credit history. Applying won't impact your credit score.

Personal loans

A personal loan provides a lump sum of cash that you repay in monthly installments over several months or years. While most online lenders don't offer personal loans with no credit check, a few approve borrowers with only a soft credit pull, including OppLoans and 60 Month Loans. These lenders don't offer loans in all states, and interest rates may be over 100%. Personal loans with only a soft credit check tend to come with lower borrowing limits and shorter terms than personal loans that require a hard credit check, but some lenders offer loan amounts up to $10,000 and terms up to 5 years with only a soft credit check.

Payday alternative loans (PALs I and PALs II)

Many federal credit unions offer payday alternative loans to their members and may not require a credit check. PAL II loans are immediately available to new members, come in amounts up to $2,000, and are repaid over one to 12 months. PAL I loans have a one-month membership requirement, a maximum term of 6 months, and a maximum loan amount of $1,000. Both loan types come with a maximum interest rate of 28%.

Cash advance apps

Cash advance apps allow you to receive a portion of your earnings ahead of payday. You can typically only get a few hundred dollars at a time, but there's no credit check required. The money is typically repaid as an automatic deduction from your next paycheck. Some cash advance apps charge fixed transaction fees, some are membership-based, and others make money through expedited funding fees and tips. Requirements vary, but you typically need to link the bank account where your income is deposited. Common examples include Dave, Earnin, MoneyLion, Albert, Brigit, Chime, Empower, and Varo.

Loan apps

Similar to cash advance apps, loan apps might let you borrow up to $500 without a credit check. But they also might give you more time to repay since the loan isn't considered an advance on your paycheck. Possible Finance is one company that offers loans up to $500 with eight-week repayment terms. 

Buy now, pay later (BNPL)

Buy now, pay later is a checkout option at many online retailers that functions like an installment loan. The BNPL provider pays the retailer directly, and you repay the provider in fixed installments. BNPL providers, like Affirm and Klarna, typically offer two options: four interest-free, bi-weekly payments or a longer-term installment loan with fixed monthly payments that may include interest. Most providers don't require a hard credit inquiry for short-term financing options.

Payday loans

Payday loans are typically small-dollar loans of $500 or less that the borrower repays on their next payday. Depending on the laws in your state, payday loans may be available online, from a storefront payday lender, or banned entirely. APRs also vary according to state regulations, but may be between 140% and 662%, according to data from the Center for Responsible Lending.

In some states, payday lenders allow you to renew the loan repeatedly (or do so automatically), which leads to mounting fees. You might also need to authorize the lender to debit your bank account. Payday loans don't require a credit check.

Auto title loans

Auto title loans are typically short-term loans secured by the title to your vehicle. Your car acts as collateral for the loan, which means the lender can seize your car if you fail to repay. But title loan terms, APRs, and loan amounts vary significantly depending on your state laws. In some states, maximum finance charges may equate to triple-digit APRs or be uncapped. Repayment terms are typically less than one year and could be as short as one month. But years-long loans may be available in some states.

Title loans typically don't require a credit check, but some lenders may run a credit check for longer-term installment loans secured by your vehicle.

Pawnshop loans

To get a loan from a pawnshop, you need to provide a valuable asset, like a television or gold jewelry, as collateral. The pawnshop may lend you up to 60% of the item's resale value, for example, which you may need to repay within 30 to 60 days.

Finance fees can translate to triple-digit APRs, though some states cap the APR at 36%. Some pawnshops allow you to extend the loan term, but if you can't afford to repay the shop, you'll lose your asset. Pawnshop loans don't require a credit check or impact your credit score. If you default on the loan, the legal title of your asset transfers to the shop.

How do no credit check loans work?

Each type of no credit check loan works a little differently. In general, you need to show proof of income, which might involve showing a storefront payday lender your paystub or linking your bank account to a cash advance app, or pledging an asset as collateral. You'll also need to verify your identity, and you may need to provide your Social Security number or fulfill other requirements as part of the application process.

Funding, rates, and repayment

Most no credit check loans provide a lump sum of cash, either directly to your bank account or to a retailer to pay for your purchase. Funding is usually fast, and you may receive the cash the same day.

You repay the money you borrowed plus interest and/or fees at a later date in one or more installments. For example, payday loan lenders don't typically charge interest, but charge fees per $100 borrowed; repayment is due in one lump sum after two weeks. But the short time span makes the fees charged very high. If you pay $15 to borrow $100 and repayment is due in two weeks, you'd pay a 391% APR.

Payday alternative loans, available from some credit unions, have APRs that top out at 28% and are paid back over one month to one year. BNPL lenders may offer 0% interest and fee-free financing if you repay within six weeks. They also may offer rates similar to traditional personal loan lenders for longer terms — up to 36% APR — but this may require a credit check.

Loan amounts

Loans without a credit check are inherently risky for the lender. As such, loan amounts are typically low. For example, both payday loans and cash advance apps usually have maximum amounts less than $1,000. Or, the loan amount is determined and secured by an asset of yours that the lender holds on to (and can keep if you don't repay).

Credit impact

Some loans without a credit check, such as payday loans and BNPL, have no impact on your credit. But some lenders, including most online installment lenders, report your payment activity to the three major credit bureaus. If you're able to make your payments on time every month, this can be a great way to build a positive credit history, which will give you access to better loan options in the future. But these loans can also damage your credit if you pay late or miss payments.

Pros and cons of no credit check loans

How to get a personal loan with no credit check

1. Compare your options: It's worth prequalifying for a personal loan from an online lender that evaluates your credit score, even if you have bad credit, since some lenders have flexible requirements. Prequalifying won't hurt your credit score, and you may get a lower rate compared to other no credit check options.
2. Apply: You can apply for most no credit check loans online. Some lenders allow you to link your bank account for a quick and easy application process. With others, you may need to provide documents that prove your income, such as a pay stub or W-2. Since applying won't impact your credit score, you can apply with multiple lenders to compare your options. But consider applying for a loan that requires a hard credit check — since most cap APRs at 36% and some, like OneMain Financial and Upstart, have no credit score minimum.
3. Sign to accept: Choose the loan offer that best meets your needs. Make sure you can afford to repay the loan before signing your loan agreement. 
4. Get funded: Most no credit check lenders can transfer the funds to your bank account within a few days without a fee. Choose this option to keep costs down.

How to compare no-credit-check loans

As you research loans that don't require a credit check, consider the following:

• Lender reputation: Check customer reviews for each lender on third-party websites like Trustpilot. You may find that some no credit check lenders have an excellent rating, while others do not.
• Rates and fees: Compare the borrowing cost of different no credit check loan options. For an apples-to-apples comparison, you may want to calculate the APR of options for which the lender only provides a fee schedule. APR expresses the annual interest charges and upfront fees as a percentage of the loan amount. Avoid lenders that don't make their pricing transparent.
• Repayment terms: No credit check loans with very short repayment terms, such as payday loans, tend to have the highest rates. Personal installment lenders may offer a choice of repayment terms with the same or different rates for each option. Choose a loan with a monthly payment you can comfortably afford. You can typically repay an installment loan early to save money on interest, as long as the lender does not charge a prepayment penalty.
• Funding time: If you need an emergency loan, look for a lender that offers same-day or next-day funding.
• Credit reporting: If you're looking to build credit, choose a lender that reports to the major credit bureaus. Just make sure you make your payments on time each month.

Alternatives to loans with no credit check

• Personal loan with a cosigner or co-applicant: If you apply for a personal loan with someone who has good credit and is willing to take responsibility for the loan in the event you fail to repay, you'll have a better chance of being approved. A few lenders allow cosigners — cosigners guarantee the loan, but don't have access to the money. Many more lenders allow co-borrowers, who have access to the loan funds and make monthly payments with you.
• Bad credit personal loan: Check out lenders that specialize in issuing bad credit or fair credit loans. For example, Upstart uses AI underwriting to approve a greater share of borrowers, and Opportun offers personal loans secured by your auto title that may be easier to qualify for but have lower rates than title loans.
• Employer advance: Some employers offer payroll advances or loans. Check your employee handbook or other materials to determine your employer's policy.
• Family loan: Asking your family for help can be tough, but if they have the means to assist, they may offer you a lower rate and better terms than what you can find online. Find a family loan agreement online to clarify how much you'll owe, when, at what rate, and whether there will be late or other fees. Taking this step can protect your relationship and could help you steer clear of potential tax consequences. 
• Crowdfunding: A crowdfunding campaign on an online platform like GoFundMe allows you to request money from your social network during financial hardship.

Disclosure: Some lending partners that participate in Credible’s comparison marketplace offer loans to borrowers with scores as low as 550. Borrowers with low scores will have fewer lending options than borrowers with higher credit scores.