No Credit Check Loans

Small, short-term loans can be a lifeline if you can’t afford a bill or need to cover an emergency expense. But without at least fair credit (a 580 FICO score or higher), qualifying for a traditional loan can be tough. There are several no credit check loan options, but it’s important to know which are safe and affordable and which are predatory and dangerous.

Before borrowing, it pays to understand exactly what you’re getting into — and whether you have better options.

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

Consider one of these lenders for a loan with no credit check:

60 Month Loans

• Credit check? Soft credit check with application; hard credit check only if loan offer is accepted
• Loan amount: $2,600 – $10,000
• APR range: 25.76% – 35.87% (varies by state)
• Repayment term: Up to 5 years
• Best for: Borrowers who want a longer repayment window or a larger loan

60 Month Loans offers personal loans in 16 states. You can apply with only a soft credit check — 60 Month Loans conducts a hard credit check only if you accept a loan offer. Applicants are also asked to submit their bank statements for the last three months after submitting their application. Compared to other no-credit-check lenders, 60 Months Loans offer larger loans (up to $10K) with longer repayment terms (up to 60 months).

Possible Finance

• Credit check? No hard or soft FICO check during application; eligibility determined by factors including income and bank account balance; some applications may involve checking Experian Clarity score (no effect on FICO score)
• Loan amount: Up to $500 (varies by state)
• APR range: Up to $25 for every $100 borrowed (varies by state; some states have variable fees); with short repayment term, up to 249% APR equivalent
• Repayment term: 8 weeks (4 installments over 8 weeks)
• Best for: Building credit on a small loan

Possible Finance lets you borrow up to $500 and charges up to $25 per $100 borrowed (varies by state). While that might sound like a 25% APR, it’s actually much higher given the short (8-week) repayment period. The APR equivalent can go as high as 249%, making Possible Finance an expensive way to borrow.

However, unlike payday loans, Possible reports payments to the credit bureaus. On-time repayment across the four payments can establish better payment history and help improve your credit score.

MoneyLion

• Credit check? Soft credit check during prequalification
• Loan amount: Up to $500 ($1,000 for RoarMoney customers)
• APR range: No interest; instant transfer fees can send APRs over 200%
• Repayment term: Auto-deducted on your next payday
• Best for: Borrowers who can wait a few days for the money

MoneyLion is a loan app, also called a cash advance app. Unlike a traditional personal loan, MoneyLion's Instacash involves borrowing against a portion of your paycheck ahead of schedule. To qualify, you must link your bank account where you get your paycheck directly deposited. Once MoneyLion has confirmed your recurring payday, you should be eligible.

While MoneyLion doesn't charge interest, borrowing this way means you’ll get less money on your next payday and instant transfer fees make this a very expensive way to borrow. You can wait one to five business days for the funds to reach your account, or you can pay a fee for an instant transfer ($0.49 to $8.99, depending on whether the money is transferred to an external account or a RoarMoney account and how much you borrow). For example, on a $90 instacash transfer to an external account, you’d pay an $8.99 fee — that equates to a 260% APR. The app asks for tips, but tipping is optional and will increase the APR.

OppLoans

• Credit check? Soft credit check on Experian report
• Loan amount: $500 – $5,000
• APR range: 99% – 195% (varies by state)
• Repayment term: 9 – 18 months (varies by state)
• Best for: Borrowers with bad credit who need more than $500

OppLoans works with a network of bank lenders to find applicants a small loan that they might qualify for, even with fair or worse credit. There’s no hard credit inquiry on your traditional credit reports (there may be a soft credit inquiry on your Experian report), but there is a hard inquiry on your Clarity report. Partner banks may be willing to work with you even if you have bad credit.

The lowest APR you can get, regardless of your state, is 99%, and APRs can go as high as 195%. While costly, OppLoans may be more affordable than a shorter-term small loan via a cash app.

Varo

• Credit check? No
• Loan amount: Up to $250 initially; up to $500 over time (when you meet qualifying conditions)
• APR range: Fees vary from $1.60 to $80 for cash advance, depending on various factors; equivalent to up to 195% APR equivalent
• Repayment term: 30 days
• Best for: Varo customers with at least $800 in monthly deposits (a Varo bank account is required)

Varo offers small, short-term loans to customers. If you’re not a customer, you can still open a Varo account and get a same-day loan between $20 and $250.

Varo is a decent choice for an online bank (checking and savings), but its cash advances can get expensive, especially if you don’t receive at least $800 in monthly deposits into your Varo account. However, the availability of a same-day loan with no credit check could be a viable option if you have poor or no credit history and need a small amount of money fast.

What is a no credit check loan?

A no credit check loan is any loan for which the lender does not pull your credit report or credit score as part of the application process. Typically, lenders use a credit check to evaluate your creditworthiness before approving you for a loan, evaluating factors like payment history, credit utilization, and length of credit history. No credit check loans may instead use alternative sources, such as bank statements, to determine your eligibility. Because of the higher risk for the lender, no credit check loans typically have borrowing costs that can be equivalent to annual percentage rates (APRs) in the triple digits.

Even if you can’t find or afford a no credit check loan, you may be able to get a loan with only a soft credit check. A soft credit check is an inquiry into your credit file that doesn’t impact your credit score. While most personal loan lenders perform a hard credit check (which can lower your credit score by up to 10 points for a year) before approving your loan, other lenders may be able to approve you with only a soft credit check, which is a less comprehensive review of your credit report.

Lenders that provide loans with no credit check typically have more lenient qualification requirements. If you’ve got bad credit, these loans might be a viable option for borrowing cash.

Types of loans with no credit check

There are several types of loans you can get without a credit check. The safer (i.e., lower-interest) options include payday alternative loans (PALs) from federal credit unions, some personal loans with a soft credit check, usually from online lenders, and small bank loans (you’ll typically need to be an existing customer).

Cash advance apps, loan apps, and buy now, pay later (BNPL) options can be riskier, either because of expensive fees or because they can lead to a cycle of borrowing. Payday loans, car title loans, and pawnshop loans are the most expensive; if you can avoid these, you should.

Payday alternative loans (PALs I and PALs II)

Payday alternative loans (PALs I and PALs II) are offered by federal credit unions and regulated by the National Credit Union Administration (NCUA). Some credit unions don’t check your credit report when approving you for a loan. Credit union members are eligible to apply, but you may have to meet certain criteria to qualify, such as proof of income or employment.

If you belong to a credit union that offers a PAL, it may be your best option. The NCUA imposes a rate cap of 28%, and loans can max out at either $1,000 or $2,000, with repayment terms up to six or 12 months. 

Personal loans

Some online lenders, such as 60 Month Loans, approve borrowers only using a soft credit pull, meaning your score won’t be affected by applying. Keep in mind that 60 Month Loans runs a hard credit check only if you accept a loan offer.

Personal loans are installment loans, meaning you’ll make a monthly payment toward the principal balance (what you borrowed), plus interest. Borrowing limits and repayment terms vary by lender, but you can usually borrow more (and take longer to repay) with this option than with other types of no credit check loan.

Cash advance and loan apps

Cash advance apps like Dave, EarnIn, MoneyLion, and Varo let you borrow a small amount of money (often less than $500) ahead of your next paycheck. While they may not charge interest, instant transfer fees can make them as expensive as payday loans. To qualify, you’ll need to link the bank account where you get your paycheck deposited; the repayment is then deducted on your next payday.

Each of these apps works a little differently. Some may charge a monthly subscription fee, some may request tips, and many charge fees if you request an instant transfer.

While these apps look promising on the surface, proceed with caution. The Center for Responsible Lending (CRL) reports that the average APR for these loans was 367%, and 75% of people took out advances repeatedly.

“Cash advance apps can lead to overuse and create a paycheck-to-paycheck loop,” says Chad Gammon, certified financial planner and owner of Custom Fit Financial. “The cycle is dangerous and easy to fall into … Using these apps means you have a cash flow problem that needs to be solved.”

Loan apps like Possible Finance work similarly to cash advance apps, but they may give you more time to repay, and your loan isn’t directly tied to your paycheck. These can have APRs in the triple digits due to fees, but they may still be lower-cost than short-term cash apps. 

Small bank loans

Some banks offer small, short-term loans to customers without running a credit check. Examples include the U.S. Bank Simple Loan, which customers can use to borrow between $100 and $1,000. Instead of interest, the Simple Loan charges a $6 fee for every $100 borrowed. The customer repays the amount borrowed, plus the fee, in three monthly installments.

The borrowing costs of small bank loans depend on the amount borrowed and the financing fee, but in some cases they might be similar to APRs on personal loans for bad credit. The U.S. Bank website uses an example of a $400 loan with $24 in fees repaid over three months, which is equivalent to an APR of 35.65%.

Buy now, pay later (BNPL)

Buy now, pay later (BNPL) is an increasingly popular way for people to pay for goods and services in stores and online. BNPL providers like Affirm and Klarna pay the merchant directly, and then you make payments to the provider — usually one payment upfront and then three more payments spread out over the next 6 weeks. (This is also sometimes referred to as “pay in 4.”)

The pay-in-4 repayment plans are usually interest-free, but BNPL providers do offer longer repayment options — longer terms often carry interest. Be careful of convenience fees and late charges as well.

The real dangers of BNPL lie in how easy it is to get multiple loans at once for various items; to avoid overextending your budget, only use BNPL for necessary, planned purchases that you know you can pay off within weeks, rather than impulse purchases. 

“These products add complexity [to your budget]. Any time you add another debt payment, you have to make sure there’s enough cash in your account to cover it,” says R.J. Weiss, CFP and founder of The Ways to Wealth. 

Payday loans

Payday loans are small-dollar loans (usually less than $500) that are due in full on your next payday, usually within two weeks. While these loans don’t require a credit check, they are extremely risky. According to the Consumer Financial Protection Bureau (CFPB), the high fees (usually $10 to $30 per $100 borrowed) and short repayment terms can equate to APRs close to 400% on average (payday loans in some states have APRs over 600%). The CFPB also reports that more than 80% of payday loan borrowers rolled the debt into a new loan, creating a debt cycle.

Auto title loans

Car title loans are often short-term loans in which the title to your vehicle serves as collateral. You’ll provide the lender with your title and demonstrate your proof of insurance; the lender then gives you money (typically up to 25% to 50% of the car’s value). You may have 15 to 30 days to repay a short-term title loan, plus a finance fee (and other potential fees), which could result in an APR as high as 300%. However, some lenders offer longer-term title loans that may have APRs below 36%.

Title loans are often high-risk. The CFPB found that one in five drivers ended up losing their car when they took out a car title loan.

Pawnshop loans

A pawnshop loan is a lump sum of cash given in exchange for a high-value item, such as jewelry, electronics, tools, or artwork; the loan amount will be a percentage of the item’s estimated value. Interest rates are typically monthly instead of annually; coupled with high fees, pawnshop loans can have APRs up to 200% or more. Repayment terms vary depending on state regulations, but these loans are generally short-term (a few months); if you don’t pay back what you owe (plus interest and fees), the pawnshop can keep and sell your item.

One advantage of pawnshop loans is that they’re considered non-recourse. This means that the lender will not pursue you for payment — and your credit won’t suffer — if you don’t pay back the loan.

What to know about no credit check loans

Doing a little homework before signing a loan agreement can help you avoid predatory loans and keep you from getting trapped in a cycle of debt. Here’s what you need to know:

Expect high interest rates or fees

No-credit-check loans are inherently riskier for lenders because they don’t know your credit history. Without reviewing your credit report, lenders are more likely to assume you may not repay the loan on time.

To address this risk, they charge higher interest rates or high fees instead of interest — in many cases, APRs exceed 100%.

Prepare for shorter repayment terms

Most no credit check loans have short turnarounds, meaning you’ll have to come up with the cash to repay the loan quickly. For instance, payday loans get their name from their traditional setup: You must repay them by your next payday. Cash advance apps often auto-deduct what you owe from your next paycheck as well.

Buy now, pay later options stretch out a little longer: typically six weeks, though you may qualify for a longer repayment period with interest applied. Secured personal loans and personal loans with soft credit checks (designed for bad-credit borrowers) may stretch multiple years, but these are harder to qualify for.

Watch out for predatory lending practices

Some lenders may target borrowers already under financial pressure, and repayment structures may encourage repeat borrowing. For instance, the CFPB found that more than 80% of payday loans were rolled over or renewed within two weeks. The risk is similar to that of cash advance apps; the CRL found that more than 75% of borrowers took out at least one new cash advance on the same day they repaid an existing one.

Though fees for these types of loans may seem small on paper (such as $10 to $30 for each $100 borrowed), this can quickly add up if you keep taking out new loans.

How do no credit check loans work?

If a lender isn’t checking your credit, they’re finding other ways to assess risk and protect themselves. Understanding how the process works can help you make the best borrowing decisions.

Application and approval process

Instead of pulling your credit report, no credit check lenders often evaluate your ability to repay (and on time) through other means — primarily your income. Here’s what you may need to provide:

• Proof of income: This could include recent pay stubs, bank statements showing regular deposits from an employer, or documentation of benefits or other income sources.
• Bank account verification: Most lenders (especially cash advance apps) require you to link your checking account, which lets them verify your deposit history and, in some cases, automatically deduct the loan repayment on your next payday.
• Government-issued photo ID: This helps lenders verify your age and identity.
• Social Security number: This may be required for identity verification.

How funding and repayment works

Most no credit check loans deposit funds directly into your linked bank account. Funding timelines vary from the same day to a few business days. For instance, some cash advance apps offer instant transfers (usually for a fee), and BNPL services often allow you to get funding at the point of sale. Some personal loan lenders advertise same-day funding as well, assuming you meet certain requirements. Other personal loans and cash advances can be slower, taking multiple business days to process.

Repayment terms vary. For instance, cash advance apps often deduct the payment amount from your linked checking account on your next scheduled payday. For longer-term loans, like personal loans and PALs, you’ll make the payments by logging into your account, though you can often set up automatic payments, which may even get you a discount on the interest rate.

Lenders make money in a few ways:

• Origination fees: Some personal loans have origination fees to start the loan, usually a small percentage of the loan amount (often between 0% and 10%, though it varies by lender). This is typically deducted upfront from the loan proceeds.
• Flat fees: Payday loans and loan apps typically have fees that require you to pay a certain dollar amount per $100 borrowed.
• Interest: Some lenders charge interest on their no credit check loan products.
• Instant transfer fees: Cash advance apps sometimes charge fees for immediate transfers.
• Subscription fees: Other cash advance apps charge monthly subscription fees for access to their services.
• Tips: Some cash advance apps allow you to pay a “tip” for the service.

Loan amounts and limitations

No credit check loans are typically small-dollar loans. Payday loans, cash advances, and some BNPL loans often top out at $500 to $1,000. Pawnshop and title loans are limited by the value of your collateral. Even online personal loans with soft credit checks rarely offer more than a few thousand dollars.

So why are these loan limits so small when borrowers with excellent credit may qualify for $50,000 personal loans or even $100,000 personal loans? Lenders assume more risk when they approve loans without checking your credit history; keeping the loan amounts smaller minimizes those risks.

Credit impact

One of the reasons to get a no credit check loan or a loan with a soft credit inquiry is to avoid the small, temporary drop in your credit score upon applying. But just because there’s no hard inquiry for a loan doesn’t mean your credit score won’t be affected.

Some no credit check lenders report your payments to the credit bureaus. Thus, on-time payments could help boost your score, while missed or late payments could cause your score to drop.

While payday lenders, pawnshops, and many cash advance apps don’t report to the credit bureaus, you can expect the following types of loans to impact your score:

• Personal loans
• Payday advance loans
• Some BNPLs (varies by provider)

Pros and cons of no credit check loans

No credit check loans offer some obvious benefits (like no credit checks upon applying), but they come with some serious drawbacks.

Pros

• Lenient eligibility requirements: Instead of making your credit score the primary factor for approval, lenders may use other factors such as your income. On the other hand, car title loans require that you own your vehicle. 
• No effect on credit score to apply: When you apply for most loans, there’s a hard credit inquiry. This can temporarily lower your credit score. No credit check loans and soft credit check loans don’t impact your score when you apply.
• Relatively fast funding: When you get a payday loan or similar, you can usually walk out with cash in hand. Cash advance apps have options for instant transfers to your bank account, and BNPL platforms let you make purchases at the point of sale. Even some personal loans offer same-day funding. 

Cons

• High rates and fees: Payday loans and cash advance apps can have APR equivalents in the triple digits. Even BNPL products (when applicable) and personal loans with soft credit checks tend to have higher APRs than loans for borrowers with good credit.
• Debt trap risk: According to the CFPB, roughly 4 in 5 payday loan borrowers rolled over or renewed their debt with a new payday loan. Similarly, the CRL reports that 3 in 4 cash advance users took out a new cash advance on the same day they paid off their existing one. This type of borrowing leads to a debt cycle that can be hard to escape.
• Small loan amounts and short repayment terms: Most no credit check loan options require repayment within a few weeks or months. Even personal loan options with soft credit checks typically have repayment terms within a few years.

How to get a personal loan with no credit check

1. Prepare before you apply: Before applying for any loan, take a few minutes to review your financial picture. Calculate your monthly take-home pay, your recurring expenses, and how much you can realistically afford to pay each month (or each pay period, for faster-turnaround options). Gather all the documents you may need to apply, including pay stubs, bank statements, and a photo ID.
2. Compare your options: Don’t assume a no credit check loan is your only option. Some traditional online lenders, like Reprise, Avant, and OneMain Financial, may consider borrowers who have bad credit, and they cap APRs at 36%. Prequalifying with those lenders uses only a soft credit pull, but a hard credit check is typically required if you apply. 
3. Apply: Many no credit check lenders let you apply online in minutes. You may be able to link your bank account, or you may need to upload documents (PDFs or scans) to verify your income and identity. And because applying doesn’t trigger a hard credit pull, you can apply with multiple lenders without worrying about impacting your score.
4. Review, accept, and get funded: If you’re approved, review the loan terms carefully. If you’re approved by multiple lenders, compare the final offers and narrow them down to your top choice. If you’re comfortable with the terms and fees, accept and wait to get funded.

How to compare no-credit-check loans

When comparing no credit check personal loans, the sticker price can be misleading. A lender that charges a flat fee instead of interest can still be extremely expensive when you calculate the APR (the total cost of borrowing).

Here’s what to look at:

• Annual percentage rate: The APR accounts for both interest and loan fees and is expressed as a percentage. It's the most useful way to measure your true borrowing costs. For lenders that charge fees, like a dollar amount per $100 borrowed, calculate the APR yourself with a payday loan APR calculator.
• Total repayment amount: APR is useful for comparison, but for short-term loans, the actual dollar amount you’ll owe matters, too. A $500 loan with a $75 fee is $575 total; make sure you’ll be able to cover that when the loan ends.
• Repayment terms: Longer repayment terms mean lower installment payments (and more time to come up with the money), but more interest paid over time. Shorter terms mean you repay faster but may face larger payments.
• Funding speed: If you’re in a genuine emergency, look for lenders that offer same-day or next-day funding at no extra charge. Be wary of paying steep fees to get money slightly faster.
• Credit reporting: If you want to build credit so you have better options in the future, choose a lender or type of loan that includes reporting to the credit bureaus. But don’t miss any payments, or you can actually damage your credit score.

Alternatives to loans with no credit check

Because of the high cost and risk, you might realize that a no credit check isn’t the right choice for you. But that doesn’t mean you’re out of options when you need cash fast. Here are some other ways to get a loan quickly:

• Borrow from friends and family: Loans from relatives and close friends can be great, especially if your loved one won’t charge you interest. However, you may find many family members and friends are hesitant to lend money to loved ones; failure to repay quickly could damage the relationship.
• Personal loan with a cosigner: If a loved one with good credit will cosign a personal loan with you, you can improve your approval odds. However, if you fall behind on payments, the cosigner must step in or their credit will suffer; like borrowing from loved ones, this could strain your relationship.
• Earned wage access: Some employers offer a benefit called earned wage access (EWA). Similar to cash advance apps, this benefit lets you access a portion of your paycheck ahead of payday. EWA programs typically don't charge interest or fees. 
• Credit-builder loan: If the reason you’re looking for a no credit check loan is to improve your credit score, consider a credit-builder loan. These loans, offered by some banks, credit unions, and online lenders, help you build a savings account while establishing a payment history and boosting your credit score.