Can I Get an Installment Loan with No Credit Check?
No, it is impossible to get an installment loan with no credit check. Credit checks are mandatory under the relevant regulations. It is unrealistic to assure borrowers that no credit checks will be performed. Most lenders will check your credit to assess your financial situation and capability of repaying the loan.
The good news is, some direct lenders only perform soft checks and not hard checks, so your credit history won’t be impacted. However, these loans typically have higher interest rates, so you'll need to make sure that you can afford the payments.
How Does a Credit Score Affect Getting an Installment Loan?
Installment loan direct lenders use your credit report to determine your repayment ability and creditworthiness. A good credit score show you've had a history of good debt management, which increases the chances of getting approval for a loan. If you have defaulted on loans and have a very low credit score, your loan application may be rejected.
Apart from loan approval or rejection, credit scores also influence other aspects, such as interest rates and APRs.
Does US Installment Loans Offer Installment Loans for Bad Credit?
Yes, US Installment Loans partners with various lenders who can offer installment loans even if you have bad credit. You may be able to borrow from $50 to $5,000 in as little as 24 hours.
However, keep in mind that you will still need to prove your financial capability, for example, by providing proof of income documents. Also, the interest rates for the loan may be a bit higher compared to those offered to persons with good credit.
Am I Eligible for No Credit Check Installment Loans?
To qualify for a no credit check installment loan, here are some of the requirements you need to meet:
- Be at least 18 years old
- Be a United States resident
- Possess a valid government-issued ID
- Show proof of income
- Have a running checking or savings account under your name
- Have a working phone number and email
You should not have trouble being qualified for an installment loan if you meet these requirements.
How to Apply for an Installment Loan with No Hard Credit Check?
US Installment Loans allows you to apply for loans quickly and without any hassles. Below are the steps to follow:
Completing this form is simple and will only take you a few minutes. You are required to fill out basic personal and financial information, so it’s nothing difficult to answer.
- Compare Offers
Upon receiving your loan application form, we will forward it to our extensive partner lenders. Those who are willing to give you the loan will then send you their offers. Compare these offers and sign the one that suits you best.
- Get Funds
After signing the offer, nothing is left for you to do. You can now wait to receive the funds in your account. The lender will send you the money as soon as the next business day.
How Much Do You Want?
Why Should I Choose US Installment Loans?
There are many reasons for choosing US Installment Loans. Here are three main reasons:
- We only partner with reputable and trustworthy lenders
This means you don’t have to worry about scams and you can relax knowing your personal and financial information is safe.
- Our partner lenders charge fair rates
Our partner lenders understand that repaying a loan isn’t easy, especially if you’re dealing with astronomical interest rates. As such, they will offer you loans at favorable terms and interest rates to ease the burden of repaying the loan.
- Get the money you need fast
When you apply for a loan through US Installment Loans, our lenders will approve it within the shortest time possible and then send you the money as soon as possible.
How Does US Installment Loans Compare?
|How much do I qualify for?||Up to $35000||Competitive rates|
|What's the max loan length?||Up to 36 months||Fast decisions|
|Do lenders check my credit?||Yes||Soft credit checks|
|All credit levels accepted?||Yes||Bad credit doesn't matter|
|Chances of approval||Good||High approval rates|
|When am I allowed to apply?||24/7 online||Easy application|
Alternatives to No Credit Check Installment Loans
You might consider alternatives to no credit check installment loans if you need a more significant loan amount and don't have the best credit history.
Among these choices are:
Although most banks will require a credit check, some may be more lenient if your account transaction history is good. However, that means you need to have an active account with the bank to qualify for a loan.
Due to their non-profit status, credit unions may be more ready than banks or other lenders to provide installment loans with better conditions. However, most of them require you to be a member to qualify for a loan.
Other affordable choices
- Take out a personal loan.
- Borrow Money from your families or friends.
- Consider getting additional revenue streams.
1. What Are Installment Loans?
Installment loans are repaid over time with a set number of scheduled payments. Installment loans help to finance larger purchases, such as appliances, cars, or home renovations. They may be available from traditional lenders, such as banks, credit unions, and online lenders.
2. Does US Installment Loans Check My Credit?
No, we are a broker, which means we work with a network of lenders to find a suitable loan for you. Our lenders do soft credit checks, which won't impact your credit score. And because our loans are installment loans, you can make smaller payments over time instead of one lump sum.
3. How Much Can I Borrow from US Installment Loans?
The amount you can borrow ranges from $50 to $5,000, but lenders will determine how much you can borrow after reviewing your personal information and credit history.
4. Can I Repay My Installment Loans Early?
Yes, you can make early payments on your installment loans if you want. However, this may come with some early repayment charges (ERCs) that you may have agreed on while taking the loan.