Christmas Loan for Bad Credit

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What is a Bad Credit Christmas loan?

Christmas Loans for bad credit are loans offered by lenders to help borrowers with unpleasant credit histories cover the expenses that are incurred during the Christmas period. A Christmas loan could be the best option if you are short on cash and need funds to get gifts, travel, or celebrate the festive period without ruining your budget.

A perfect credit score is not a must-have to get a Christmas loan. Most lenders leverage the festive season to advertise bad credit payday loans as Christmas loans. In most cases, these bad credit Christmas loans can have an APR rate as high as 400%, and you are expected to repay the loan within a few weeks or up to one month.

Can I Apply for a Christmas Loan with Bad Credit?

A Christmas loan could be the best alternative for you if you have a low credit score and need money to fund your expenses in the holiday season.

With the extended reputable lender network at US Installment Loans, getting approval for a Christmas loan is simple. There is no need for a hard credit check for most lenders we work with, and you don't need to provide any collateral. Also, you can apply for a Christmas loan using our online platform without any paperwork, making the process quick and easy.

Like most loans, you must be 18 years and above to qualify. You also be a U.S. citizen or permanent resident. US Installment Loans rounded up some of the common eligibility criteria for a Christmas loan based on the data collected from the market research; average requirements include:

  • A monthly income of around $1,200.
  • An active bank account with valid recent bank statements (checking or saving).
  • Employment in the last three months.
  • A verifiable email address, house address, and phone number.

Once you meet all these requirements, your loan requests will likely be approved. Most lenders we partner with will respond to you and may deposit the funds into your bank account in less than 24 hours with no paperwork.

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What Should I Consider When Getting a Christmas Loan?

Although Christmas loans come with less stringent requirements, there is a catch: an expensive interest rate with a short repayment term.

We always suggest our customers make thorough considerations and assessments before submitting their loan request through our secured online form, as getting a loan should always be your plan B. For high interests loans such as Christmas loans, it is crucial that you should apply for a loan with terms that you can repay without too much pressure.

So as not to get caught in a debt trap, you need to consider some aspects before filing your Christmas loan application:

Interest rate

This is the first factor to consider when considering taking a Christmas loan. The higher the interest rate, the more you will have to repay. This plays a role in deciding the total amount you are to repay according to the repayment term.

Repayment ability

It’s also important to consider your ability to repay the loan. Usually, lenders will assess this aspect as the primary factor when deciding whether to release the fund to you or not. Evaluating your income and employment status before submitting your request is always the right thing to do when getting loans online.

The monthly repayment plan

Although Christmas loans are usually offered in the form of payday loans, there are still exceptions. If it’s available, make sure to go for a Christmas loan with a fixed monthly installment repayment term. This will make it easier for you to repay the loan with less stress, unlike a short-term payment plan.

How Much Can I Get From a Christmas Loan?

The amount you can get for a loan through US Installment Loans ranges from $50 to $35,000, depending on the lender and your financial situation. In specific, lenders may offer borrowers Christmas loans with bad credit amounts of up to $5,000, while personal loan lenders provide borrowers with up to $35,000. When applying for higher loan amounts over $5,000, you are expected to have a higher credit score and a more solid financial statement.

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Is there any drawback to taking out a Christmas loan?

Christmas loans have high-interest rates, reaching up to 400% APR. You may also be charged an origination fee if you decide to reduce the percentage of the loan by paying it off early. Also, most Christmas loans have a short-term payment term, which could impact your credit score negatively if you default on a payment.

What is the repayment period of Christmas loans?

The repayment term for Christmas loans could range from a few days or up to a few months, sometimes up to 60 months. Some lenders allow you to make payments all at once, while others allow fixed monthly installments.

Can I get a loan to buy Christmas gifts?

Yes, you can. There is no limitation on the usage of a Christmas loan. As the name implies, a Christmas loan is mostly spent during Christmas to buy gifts, go on holiday, or cover any other typical expense over the Christmas holidays. Regardless, what you spend the money on is entirely at your discretion.

How much will a Christmas loan cost?

The cost of your Christmas loan solely depends on the interest rate and fees your lender charges. Some states' laws enforced a fixed amount of mandatory additional charges for every $100 borrowed, usually ranging from $10 to $30. In some cases, these charges will end up in a certain percentage of the borrowed amount. To be sure about the cost of your loan, refer to the related law statements in your state and research the loan provider's fees as well as their interest rates before choosing to patronize them.


Although Christmas loans are basically bad credit loans with no credit check, it is advisable to only apply for them if you're in dire financial need. If what you need cash for is not a necessity, you can consider other loan options with low-interest rates and longer repayment periods, like personal loans or regular installment loans.

Also, remember to start budgeting and saving to enjoy a debt-free Christmas. You can start by saving 20% of your income each month. Doing this means you won't need to apply for a Christmas loan when the festive season comes.

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