Loans for 18 Year Olds

It is possible to get loans for 18 years olds with no credit history! Check out how to get approved for a loan in as little as 24 hours online and get your quotes right now!

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Can You Get a Loan at 18 Without a Credit History?

You begin your adult life when you turn 18. You may not have a credit history yet because you did not make any payments that can build your credit before you turn 18. Therefore, many lenders will consider you a risk which can prove challenging when looking for a loan since creditors will want to be sure of your financial reliability.

However, some loan providers may be willing to take risks and approve you for a loan. In that case, you either must have a stable and reliable income demonstrating your ability to repay the loan or a reliable guarantor to ensure the repayment of the loan.

If you have no clue about where to get the necessary financial solutions to handle your needs, US Installment Loans is always here to help. We understand that you are worried about your “clean” credit background, so we will connect you to lenders who offer loans with reasonable terms, even if you have no credit history at all.

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What Are The Options for Loans at 18?

Most lenders see young borrowers with no credit history as a risk, thereby limiting the options available to them. However, all hope is not lost. Here are some options you can consider if you're looking for a loan that will get you approved with no credit history:

Check Out Loan Options From Your Bank

You can always try to search for available options at your current bank first, as this is the safest way to get a loan. Even with no credit history, your bank might be willing to give you a loan with low available amounts, especially if you have a long history of transacting with them.

Student Loans

You may also consider government-sponsored loans. The most common type of government-sponsored loan is a student loan, one of the most common financial solutions available for students across the North American continent.

You will get approval for a loan with no credit history once you prove that you intend to attend college. You can apply for student loans with relatively low-interest rates and have a longer repayment period after you graduate from the university or college. Student loans are the ideal stressless financial solution for individuals with financial difficulties pursuing further academic studies when they turn 18.

Credit-builder Loans

Credit-builder loans are small loans that you can get from your bank or other lenders to help you build a credit history. While they are mostly short-term with low amounts and rates, the idea is to better position you to take out larger loans with better conditions in the future.

Cosigner Loans

Another option you can consider if you don't qualify for a bank loan is consigner loans. If you have a friend, parents, or a close relative you've built a trustable relationship with, then they can act as a guarantor for you, meaning they will repay the loan if you fail to repay it.

Car Title Loans

If you are looking for a loan when you just turned 18, and you just got a car from your parents, you can consider getting a car title loan.

Car title loans allow you to get cash out of your vehicle while still driving your car, and these loans are usually less risky for lenders since the car title serves as collateral to secure the loan. If you default on the loan, the lender will possess the vehicle title to recoup their money.

How Much Do You Want?


Tips for Getting a Loan at 18

Before you set out to apply for a loan, proceed to read these tips to ensure you get approved for a loan with no credit history:

Prove That You Have Savings

Having a good savings habit could go a long way in showing your lender that you are credit-worthy and will put you in an advantageous position when applying for a loan in general. It proves to lenders that you're financially capable; thereby, they will consider you a lower-risk borrower.

Don't Request For a High Amount

Requesting money that is greater than your financial capability reduces your chances of approval and may result in an automatic rejection. Apply for a lower amount instead to increase your probability of getting approved.

What Can I Do to Build and Improve My Credit Score?

You’ll need a good credit score to access loans. If you just turned 18, you can build your credit with some proven strategies.

If you plan on getting a credit card, start by getting a cosigned card, or request to be added as an authorized user on another person's card. That way, once you make timely repayments, the card issuer will report your credit behavior to the credit bureaus, and your score will start to add up.

If you don’t intend on using a credit card, you can also explore the option of getting a credit-builder loan, a cosigned loan, or a collateralized loan.

Now that you’ve started building up your credit history, you can try these strategies to maintain your credit score and give it a boost if possible:

  • Set reminders to pay your bills timely.
  • Monitor your credit report and dispute errors.
  • Aim for at least 30% credit utilization on your credit card.
  • Avoid hard credit checks.

The Pros and Cons of Getting a Loan at 18


  • Access to funds: By getting a loan, you will be able to get cash to meet your immediate needs.
  • Build your credit score or history: When you take a loan, you will be able to build a strong credit profile. This allows you to be eligible for future loans with better interest rates.


  • Limited options: As a borrower with no credit history, your options are limited to loan providers that will only offer you a small loan with a short repayment term and possibly higher interest rates, which may not be enough to solve your needs.
  • High risk of default: Since these loans come with a high-interest rate, borrowers can get caught in a debt trap if they default on the loan.


I have never had any credit. Will this mean I have a bad credit score?

A credit score is a mathematical representation that evaluates a borrower's creditworthiness and how they've handled debt in the past. Having no credit history doesn't mean you have a bad credit score. It means you have no credit records at all, and you're yet to incur any debt or have not been reported to the credit bureaus, which makes your credit worthiness unproven.

Do all lenders accept 18-year-olds for credit?

When you submit loan requests through US Installment Loans, most lenders within our partner network will expect you are 18 years or older, but it also depends on your state laws. For example, in Alabama and Nebraska, you must be at least 19 years old to be considered to apply for a loan, while the minimum age to get a loan in Mississippi is 21.

How much can I borrow through US Installment Loans?

US Installment Loans partner with lenders that can offer you up to $5,000 for payday/installment loans with bad to no credit and as much as $35,000 for personal loans without collateral. However, the amount offered and repayment terms depend on the lender's policy and the financial situation of the applicants.


Borrowers with no credit history are considered a risk, thereby restricting them to a few loan options. Regardless of this, it is an advantage for you to build a strong credit profile from scratch. If you make good use of the options available to you, in years to come, you will go from searching for loans for 18-year-olds with no credit history to having a strong credit score and having multiple options to choose from.

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Just Turned 18 And Looking For A Loan With No Credit History?

Look no further than US Installment Loans! Get approved online for a loan with no credit history in as little as 24 hours.

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