9 Payday Loans for Bad Credit Platforms: Learn How To Get a Payday Loan for Bad Credit

11:12 AM, May 02, 2023
11:12 AM, May 02, 2023

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Every day, the keyword "bad credit payday loans" is searched for on the internet by thousands of individuals looking for assistance in overcoming short-term financial difficulties.

If you have bad credit, that doesn’t mean you can’t get a loan. We review the best payday loans for bad credit: our top pick is MoneyMutual: it has a fast application process and swift approval times.

9 Best Payday Loans for Bad Credit

1. MoneyMutual - Best Payday Loans for Bad Credit Marketplace


  • $5,000 loans
  • 5-min application
  • No extra application fees
  • Over 2,000,000 customers
  • Swift approval


  • Limited in some US states

MoneyMutual Overview

MoneyMutual is a well-rounded platform with an impeccable reputation that helped over 2,000,000 satisfied customers connect with potential lenders.

You can loan anywhere between $100 and $5,000, but what impressed us the most was how swiftly you are connected to potential lenders.

The process takes under 2 minutes, and if you accept the offer, the funds will reach your bank account in under 24 hours.

On the downside, you can’t use this service if you’re from NY, CT, and IL. But if you aren’t located in these three states, you will enjoy zero application fees.

Interest rates: Vary between lenders

Minimum - Maximum Loan Amount: $100 - $5,000

Loan Term: Depends on the lender, granting possible flexibility

2. PersonalLoans - Fast Payday Loan for Bad Credit


  • Loans up to $35,000
  • Collateral not required
  • One-day funding
  • Plenty of lenders to choose from


  • You can't take out less than $1,000
  • Origination fees

PersonalLoans Overview

PersonalLoans is another neat platform you can join if you need higher "buy now pay later loans."

The credit line reaches $35,000, which is significantly above average, but you also can't take out less than $1,000.

Collateral is not required, and the variety of available lenders is pretty comprehensive. If you meet the criteria and stick within the limit, the loan will reach your account within a business day.

You can choose between 3 and 72 months to repay the loan.

Interest rate: 5.99% to 35.99%

Minimum - Maximum Loan Amount: $1,000-$35,000

Loan Term: 3 to 72 months

3. CashUSA - Large Online Payday Loans for Bad Credit


  • $10,000 loans available
  • 72 months to pay the money back
  • Fast delivery
  • Soft credit check only


  • The minimum credit score requirement is slightly higher
  • The site could use a revamp

If you need to lend slightly higher amounts of money, we recommend Cash USA, which allows US citizens to take loans of up to $10,000.

You can pay the loan back within 72 months, which is flexible and fair, and the funds will reach your bank account within just 24 hours.

The platform could use a revamp in terms of design, but the foundational functionalities of the website are solid as a rock.

Also, note that CashUSA performs soft credit checks only.

Interest rates: 5.99% and 35.99%

Minimum - Maximum Loan Amount: $500 to $10,000

Loan Term: Up to 72 months

4. BadCreditLoans - Best Payday Loans for Poor Credit Scores


  • You can get a loan with under 500 credit score
  • No collateral required
  • Student loans
  • Competitive APR


  • Loans capped at $1,000 for under-500 credit score
  • Not BBB accredited

BadCreditLoans Overview

If your credit limit and history are pretty bad, going below the 500 score, BadCreditLoans will take care of you.

The company offers loans ranging between $500 and $10,000, although individuals with under 500 credit score are only limited to $1,000.

You can take out a loan for up to six years, with APR ranging between 5.99% and 35.99%.

No collateral or down payment is required, and the website offers students dedicated loans. The platform is easy to navigate, and loan approval usually requires 5 to 10 minutes. Not as super-swift as 24/7 Dollar Loan, but still pretty fast.

Interest rates: 5.99% to 35.99%

Minimum - Maximum Loan Amount: $500 to $10,000

Loan Term: 3 months to 6 years

5. Funds Joy - Easy Payday Loans for Bad Credit


  • Straightforward application
  • $5,000 loans
  • Zero origination fees
  • Easy to approve loans


  • The minimum amount could be lower
  • Phone support is not available

If you aren’t the most technologically savvy individual, we recommend easy payday loans like Funds Joy. Not only because the platform is effortless to use, but also because it backs its ease of use with fair terms.

The website is modern, safe, and effortless to use. No hidden charges, no dodgy tactics, just ease of use and straight talk.

You can take out up to $5,000 in loans, which is a solid credit line, although we would like to see minimum loans below the $200 limit.

Interest rates usually range between 4.99% and 4.50%. Even if you take your time, you will fill out the loan request within 5-7 minutes, and the approval will follow in 10 minutes tops. The lenders are flexible, which makes it easier to make on-time payments.

Interest rates: 4.99% to 4.50%

Minimum - Maximum Loan Amount: $200 to $5,000

Loan Term: Flexible terms

6. 24/7CreditNow - Urgent Loans With Low-Income Requirement


  • The minimum required income is just $800
  • Two-minute process
  • Instantaneous responses


  • Consumers with poor credit scores may only qualify for small loans

24/7CreditNow works with a network of leading financial institutions in the United States to provide an easy credit application.

This platform is ideal for people with bad credit records who require a short-term loan. Applying for a loan can take just a few minutes, and the response from the lender can come in less than a minute.

At 24/7CreditNow, up to $35,000 can be lent in personal loans. It is hard to get a loan with a bad credit rating, but it might be beneficial in the long run if it keeps you away from large debts. 

Moreover, the least income required to be eligible for a loan at 24/7CreditNow is the least in the business at $800. If you want quick approval on a loan application and access to low-priced guaranteed payday loans for bad credit, 24/7CreditNow is the right option.

Interest rates: Varies between lenders

Minimum - Maximum Loan Amount: $100 to $35,000

Loan Term: Flexible terms

7. 24/7DollarLoan - Best Payday Loans for Bad Credit Online


  • Simple to use
  • Signup is simple
  • Rapid loan approval in as little as 60 seconds
  • $1,000 loans
  • Entrepreneurs are encouraged to apply


  • More learning materials are needed.

24/7 DollarLoan offers online payday loans for bad credit that can be paid back in installments. We were amazed by the speed at which the technology works, which makes it one of the best payday loans online for instant approval. The amount offered can range from $100 to $1,000. 

The authorization procedure requires only one minute. Both businesses and individuals can qualify for fast payday loans for bad credit, provided that they are American citizens, have a checking or savings account, and make more than $800 a month. 

It would be beneficial to add more knowledge-based materials on the website for online payday loans for bad credit; however, the website is genuine and does not affect the interest rates or other conditions proposed by the lenders.

The customer service team for online payday loans for bad credit is available 24/7, and inquiries will be responded to within 24 hours.

Interest rates: Depends on the lender

Minimum - Maximum Loan Amount: $100 - $1,000

Loan Term: Proof of $800 monthly income is necessary

8. Upgrade - Most Reputable Payday Loans for Bad Credit


  • The credit may go as high as $50,000
  • First, see whether you qualify for lower interest rates
  • Financers dealing with the lender directly
  • Recognized for innovative practices


  • Higher-than-average up-front costs

If you prefer to take care of the loan process with your lender directly, Upgrade is one of the few online sites that give you that option. Another advantage is that you can immediately view your pre-approved interest rates before completing an application. 

Seeing your rates won't have any impact on your credit score. After that, you can select from various loan options to find the best option. Nonetheless, the lender will charge an origination fee which could be anywhere between 2-8%. 

It is essential to keep this fee in mind when calculating the total amount of the loan. With the ability to borrow up to $50,000, Upgrade may be an excellent solution for significant purchases. 

If you meet the loan's requirements, you can expect to receive the funds within a day, or even faster in some cases. Upgrade may be a good option if you're looking for direct lender contact.

Interest rates: 6.95 - 35.97%

Minimum - Maximum Loan Amount: $1,000 - $50,000

Loan Term: 24 - 84 months

9. 247FastFunds.com - Convenient Monthly Payment Solution


  • Take out many short-term loans
  • Assisting customers around-the-clock
  • Payments are made on a monthly basis through ACH
  • Financial aid is attainable even with poor credit


  • Must have a three-month work history
  • Annual Percentage Rates (APRs) is not specified

Emergencies may strike at any second. 247FastFunds.com allows you to request a loan and be connected with a lender anytime during the day or night. This is an example of a company living up to its reputation.

Unsecured personal loans are possible after being matched with a lender. The money from these loans may be used for anything, from emergency medical care to house repairs to a well-deserved holiday.

To qualify for a loan, a spotless credit history is optional. All that is required is 90 days of employment history and a net monthly income of $1,000.

Furthermore, you can make use of ACH transfers for loan repayment. This is often a convenient option since you can set up automatic payments and ensure the money is in the right place. To learn more, visit the website.

Interest rates: Varies between lenders

Minimum - Maximum Loan Amount: $1,000 - $5,000

Loan Term: Varies depending on the lender

What Is a Bad Credit Payday Loan?

A payday loan for bad credit is a high-interest, short-term lending product aimed at assisting borrowers with a low credit history in managing unforeseen financial difficulties.

As a result of legislation changes, most companies that operate as "payday lenders" now provide high-interest installment loans for terms of up to a year rather than mandating that the borrower return the loan on their subsequent paycheck.

Rates for poor credit loans may vary from one lender to the next, but they will always be within limits set by the Financial Conduct Authority (FCA).

These limits ensure that you won't ever have to pay back more than $24 a month for every $100 borrowed and will never pay back more than double the original loan amount.

What Is "Bad Credit"?

A person's financial status is often referred to as having "bad credit" when the person in question has a demonstrated history of being unable to manage their finances successfully.

The likelihood of missing credit payments for loans, utilities, or credit cards is higher for those with poor credit scores. At the same time, it is also possible that they've never utilized credit facilities and consequently have no credit record.

Simply put, some borrowers have trouble securing financing from traditional lenders like banks because they have poor or "adverse" credit.

Lenders see borrowers with poor credit as a higher risk than one with good credit.

Should I Apply for a Bad Credit Loan?

Quick loans and loans for those with bad credit can quickly cover unexpected financial demands. As a kind of short-term borrowing, they are among the few options for persons with low credit scores.

The most important thing to consider before taking out any loan is whether or not you will have enough money to pay it back on time.

It's crucial to borrow just what you can afford and meet your loan repayment obligations on time if you need to take out a loan.

Bad-credit loans tend to have high interest rates, so it's essential to consider this kind of borrowing before making a final decision.

Do I Need Good Credit To Get a Payday Loan With No Credit Check?

As was said before, one attractive feature of payday loans is that they are available even to those with poor credit. Lenders often have lax standards and will work with borrowers with varying credit histories. You may still submit your information for approval despite your poor credit score.

What Are the Benefits of Payday Loans for Bad Credit?

The advantages of getting a payday loan without a credit check are as follows:

Fast Application Process

A no credit check loan often has a straightforward application and approval procedure. If you have access to the internet, you may enter your information from any location. The submission procedure will take you no more than a few minutes to complete.

Instant Approval

After entering your information online for a loan, you will get instant approval. There is no need to wait for days or weeks to be accepted for a payday loan, unlike when dealing with more conventional lenders like banks.

Safe and Secure

Your financial and personal information will be protected if you work with reputable lenders. It is essential to do research on potential lenders before engaging with any of them.

All Credit Types Considered

A payday loan may be obtained even if the borrower has no credit or has a low credit score. Loan companies will also look at your income and job history when deciding whether or not to provide you with a loan. So, even with a low credit score, you may still acquire a loan.

Are Online Payday Loans With No Credit Check Safe?

In most cases, getting a payday loan online is risk-free, especially if you choose a lender authorized to do business in your state. If you must get a payday loan online, always deal with reputable companies and make sure they use a secure server.

You should also review the privacy policies to ensure that your information will not be shared with any other parties.

Online Payday Loans for Bad Credit

Applicants' credit histories vary widely. Many people's credit ratings are subpar because of their financial histories. It's important to remember that some borrowers have no credit history at all or a very short one.

The issue for consumers with poor credit ratings is that most banks and other conventional lending organizations will not provide loans to them. Banks may determine that you do not meet their criteria for creditworthiness after reviewing your credit record provided by credit agencies.

How Can I Apply for Payday Loans Online?

Payday loans are now available for use through computers, tablets, or smartphones. Unexpected costs are often covered with these kinds of online loans. As a rule, they are paid back on the borrower's following paycheck. However, loan extensions are legal in certain states.

Online Loans With No Credit Checks?

When asking for a loan, the prospect of a credit check is enough to make anybody nervous. Our network of lenders is well-positioned to assist borrowers with fair credit facing challenging financial circumstances.

Consider looking into personal loans that don't need proof of income if you need help proving your earnings.

Because of this, personal loans offered by online lenders do not need a credit check. In other words, this method may prevent the major credit bureaus from getting this information and further damage your credit score.

If you are working to improve your credit score and need access to cash fast, a personal installment loan may be the way to go. The interest rate on an unsecured loan is often more significant than that on a secured loan.

You should install collateral to get financing at reasonable interest rates and with suitable payback conditions.

Payday Loan for Bad Credit

A payday loan, as the name implies, is a small, short-term loan that must be repaid before the borrower's next paycheck.

Typical loan amounts for this kind of lender are approximately $500, and the APR may be far over 200% per year. In contrast, personal loans often have an interest rate ceiling of 30%.

Payday loans may be a convenient option for persons with poor credit. In most cases, payday lenders won't verify your credit, and they'll put the loan money straight into your account.

Some people may have trouble paying them back or deciding which invoices to pay on time because of their very high interest rates and other costs. If you don't pay your loan on time, you may have to pay late penalties on top of what you already owe.


  • Fast cash availability - Payday loans are a practical method to receive rapid cash since they often strive to offer you the money in a day or two.
  • Simple application - People who struggle to get other forms of credit should turn to payday loans since they are simple to acquire and apply for.
  • Less stringent criteria - Payday loans often have less criteria for acceptance. Conventional lenders often need extensive paperwork as part of the verification process. Payday loans normally merely require that you be over 18, have a way to prove your identification, and have a regular source of income.


  • Higher interest rates - Instant payday loans sometimes come with higher interest rates, which makes them an expensive option to borrow money. Payday loans often have APRs in the triple digits, compared to personal loans where the APR might be between 12% and 30%. However, the interest rates that payday lenders may charge may not exceed the limits set by various state legislation.
  • It's simple to get into a cycle of constant payday loan use because of how readily available these loans are. For others, this might be the beginning of a never-ending spiral of debt.
  • Getting a payday loan won't enhance your credit score. Since most payday loan companies do not disclose to credit reporting agencies, taking out one of these loans is not a good way to improve your credit.

Payday Loans for Bad Credit Online

Poor credit Payday loans are short-term, fast cash loans made available to those with low credit scores who are in urgent need of cash.

Traditional forms of credit, such as loans from banks and credit cards with higher limits, are often off-limits to those with poor credit.

First, let's define "poor credit," and then we'll go through the details of payday loans for those with terrible credit.

What Is a Bad Credit?

There is lots of dispute regarding what poor credit truly is. In truth, several resources indicate poor credit using a variety of different credit ratings.

On the other hand, if you have a credit score (according to any of the three main credit agencies) that is lower than 600, it is safe to state that you have poor credit. This is the consensus among financial experts. A score of 600 or above is considered "fair."

A poor credit score is caused by a number of factors, but late payments and defaults are the most significant ones. Having a lot of debt and not many assets is also a problem. While they aren't the only things that go into determining your score, they are among the most important.

What Types of Loans Are There for People with Bad Credit?

There are hardly any viable lending possibilities for those with poor credit. You may qualify for a $1,000 or more installment loan with repayment terms of 6-12 months, depending on your specific credit score and monthly income.

However, this won't work if your credit is actually bad. If you need money quickly and have low credit, your only option is a payday loan.

And if you have low credit and need money fast for whatever reason, they may be a real lifesaver.

Benefits of Bad Credit Payday Loans

Payday loans for persons with bad credit are the most popular option for people in this situation. Payday loans are modest, easy-to-obtain loans that are often repaid in full when the borrower's next paycheck arrives. In addition, there are a few more advantages:

  • You don't have to put up collateral, like your vehicle, even if you need a very little loan amount since these loans are unsecured.
  • Payday loans for those with bad credit may be obtained quickly, easily, and safely online.
  • Your obligation to repay the loan will terminate once you have done so.
  • Bad credit payday loans online typically range from $500 to $1,000, while some jurisdictions have lower limits.
  • If you need money quickly but have low credit, you may get a short-term loan with a cost, but as long as you pay it back on time, there are no further fees.

How Do You Get an Online Payday Loan with Bad Credit?

First, you shouldn't go on a fruitless search for a storefront, and then another, and another. You may apply for a loan and get the results in a few minutes by using your mobile device. It's secure and safe.

If you submit a request, you will get a response in less time than it took you to submit it. If you're authorized, you may finish the loan procedure on the spot by connecting with your lender through your mobile device. You may expect the funds to be deposited into your bank account the next business day.

One must be aware of a few prerequisites before applying.

  • Must be above the age of 18.
  • Get a proper ID and a proof of residence card.
  • Possess a working email address, mobile phone, and checking account.
  • If you get a steady stream of money each month (through disability, a pension, social security, or any other source), you may be eligible.
  • Complete the loan application form in its entirety, including the additional required information.

Some states have outright bans on cash advance lending. If you are unclear about the state that you now reside in, you may check the webpage for your state.

Bad Credit Payday Loan FAQs

Let’s answer some common questions about bad credit payday loans.

Are Online Payday Loans With Bad Credit Legit?

Yes, online payday loans for bad credit are typical and acceptable lending operations to aid persons with low credit. They're meant for use in dire circumstances, not frivolous spending.

Do Online Loans With Bad Credit and No Faxing Even Exist?

They are, in fact, fairly prevalent. The only people who still use fax machines are the most conventional of lenders.

Even if the terms and circumstances of your loan are reviewed over the phone, the technology that modern direct payday lenders employ means that the whole process may be completed online.

To do otherwise would be in violation of the law. Poor credit Payday loans are quite widespread, with over half going to borrowers with low credit scores.

Can I Get Bad Credit Payday Loans Online With Guaranteed Approval?

Online payday loans for those with poor credit are available, but acceptance is not certain in every case. There are various considerations to be taken into account, and everyone's circumstance is unique, therefore approval cannot be guaranteed.

However, more than 80% of people with poor credit have their requests for payday loans processed and accepted completely online.

How Long Will a Bad Credit Payday Loan Take To Be Approved

Loan forms typically take two to four minutes to fill out, and responses often arrive within 90 seconds. If your application is successful, you should prepare to speak with your lender over the phone for ten to twenty minutes.

At that point, they'll go through the loan's specifics and get your stamp of approval. Any loan offer is voluntary on your part. Applying for and getting a loan can't be done much quicker. Within one business day, your loan will be disbursed.

Best Payday Loans for Bad Credit: The Verdict

Even while having poor credit may unquestionably make day-to-day living more challenging, there are solutions to deal with the situation. If you need a loan but have low credit, your best choice is to look for an unsecured loan, such as a personal installment loan or a secured loan from a reputable lender like MoneyMutual.

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