What Are Same-Day Loans for Bad Credit?
Same-day loans for bad credit are the types of online cash loans for people with poor credit or none. This type of loan usually will take less than a day to process, and borrowers can receive the funds they need as soon as the same day of application, even with bad credit.
Most lenders will carry out a hard credit check on prospective borrowers to assess the risks involved. You'll get approved for a loan if your credit score meets the lender's minimum requirement. But if you have bad credit or haven't had any credit in the past, you may find it challenging to get a lender to part with their cash. This can be distressing, especially if you need money urgently for an emergency.
With same-day loans for bad credit, your lousy credit won't matter as much. Lenders will consider you eligible with the matching repayment ability by considering your overall financial behavior, but it may come with terms and conditions that are not as good as loans you can get with good credit. You'll pay more interest and fees, access a lower loan amount, and typically have less time to repay.
Can I Get Same-Day Loans With Bad Credit?
The short answer is yes. It's normal to be worried that you may not be able to get the cash loan you need when you have bad credit hanging around your neck. However, some lenders know that people who need urgent cash loans are already in dire financial straits and, therefore, designed the right product to assist them.
Here at US Installment Loans, most lenders within our network will likely carry out a soft credit check, which doesn't affect your credit score, unlike hard credit checks. We partner with professional bad credit lenders that are experienced in dealing with people with bad credit, so they'll rely more on your income, employment status, and in some cases, collateral to approve you for a same-day loan.
Can I Get Bad Credit Same-Day Loans Without Credit Checks?
Due to existing financial regulations, you can not get a same-day loan without credit checks. With that said, most same-day loan lenders will conduct a "soft credit check" to assess your financial behavior and history. These checks do not affect your credit score, and the lenders won't judge you based on a bad credit score. This means you can get a same-day loan without impacting your credit score, which can be sort of interpreted as getting a loan without credit checks.
Either way, obtaining loans without credit checks is almost impossible, so the “no credit check loans” you see online are just a way of promotion. However, you will find same-day loan lenders through US Installment Loans that will perform easy soft credit checks and approve your request even if you have an unpleasant credit background.
Is It Possible to Get Bad Credit Same-Day Loans Online?
So you need an urgent loan but have bad credit? We've got you. US Installment Loans work with an extensive network of reputable online bad credit lenders that can provide you with top-notch same-day loan services. To get easy and secure same-day loans with bad credit, all you need to do are the following four simple steps:
Submit your details
Start your same-day loan journey by completing our secured online form with your required personal details. Once submitted, we will forward your information directly to our network of lenders.
Choose an offer
Our partner lenders will respond quickly with offers based on your provided information. Compare the different offers for rates, fees, and other conditions and choose the one most appropriate for you.
Review and sign the loan agreement
Carefully review the terms and conditions of your preferred offer and indicate your acceptance by signing the loan agreement.
Once you return the signed agreement, the lender will send the funds into your account in a matter of hours in some cases.
How Much Do You Want?
Why Should I Choose to Get Bad Credit Same-Day Loans Through Us Installment Loans?
With bad credit and in need of urgent cash, your options are limited. US Instalments Loans, however, will save you the time and stress of searching for a bad credit same-day lender by hooking you up with reputable loan providers. Here is what you'll benefit from:
Bad Credit? No Problem
Our partner lenders will only perform soft checks to get an idea of your financial habits, and even if you have a sub-par credit score, you'll still get approved for a same-day loan. Our partners prioritize your ability to repay, so your bad credit won't be an issue.
Say goodbye to the long waiting time for loan approval! Once you provide your details through our secure online form, our partner lenders will quickly evaluate your eligibility and come up with offers within minutes.
Our leaders understand that your loan request is for an emergency. Hence, they'll ensure to send the funds directly to your account once you have reviewed and accepted the loan agreement. This usually can happen within minutes or, at most, the same day.
No Hidden Fees
We only deal with reputable lenders, so you'll not have any charges appearing on your statement aside from what was stated in your loan offer.
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|
What Is the Overall Cost of Bad Credit Same-Day Loans?
Bad credit same-day loans can cost up to 400% APR, which APR stands for the Annual Percentage Rate, the total cost of a loan in one year. Besides the regular interest rates, there is a fee of between $10 to $30 for every $100 borrowed, enforced by the state law. Say you request a same-day loan of $100, and the state forced the cost of $20 for every $100; you'll pay $120 plus interest at the due date, usually by your next paycheck or within a month.
Other fees you may incur include:
If you don't meet up with your loan due date, you can have the loan rolled over. In that case, you'll pay the outstanding fees, and the lender will extend the due date of your loan.
You'll be charged penal fees for failing to repay on time. In some states, the lender may also charge you a non-sufficient funds fee if your payment doesn't go through due to an insufficient account balance.
When you are using a prepaid card to receive and repay your loans, you will likely encounter this type of charge, as some lenders may apply additional card charges to borrowers with prepaid accounts due to the high level of uncertainties.
How much can I get through US Installment Loans?
When you request a Bad Credit same-day loan through US Installment Loans, expect to get up to $5,000 from our partner lenders. However, the actual amount you will get depends on your income, employment status, credit history, and state legislation, among other factors. If you have a good credit history or outstanding financial status, you can request up to $35,000 for a personal loan through our website as well.
Can I get my funds the same day I apply for a same-day loan for bad credit?
Yes, it is possible. Our partner lenders can quickly process your request for a same-day loan for bad credit and deposit the funds into your designated account as soon as the same day. However, you should always expect delays during the process due to the banking system lags or lender processing speed.
How to determine my credit situation?
While our partner lenders won't rely on your credit score for bad credit loans, checking your score before applying for any loan is advisable. It will help you identify your own credit situation and to let you have an idea if you will get the best possible deal.
Constantly checking your credit score as well as your credit report has no negative impact and will help you work on it if you observe any dip. You can check your credit score for free with FICO and VantageScore. You can also check your credit situation through your bank if you are not sure where to look, which is more secure than random online credit websites.
What will happen to my credit score after getting a same-day loan with bad credit?
Nothing, usually. Same-day loans with bad credit providers typically pull a soft check on you, which doesn't hurt your credit scores. But you must ensure that you adhere strictly to the repayment terms, as a late or missed payment will knock points off your credit score.
For loans with a relatively longer repayment period, consistent repayments can improve your credit score over time, as many lenders will report your payment behavior to the credit bureau and eventually reflect on your credit report.
How can I benefit from a same-day loan for bad credit?
Getting a loan when you have a lower-than-average credit score is difficult. But same-day loans for bad credit will give you instant financial relief when you're faced with an emergency, even with bad credit. Not only the application process is hassle-free and fast, but you can also request from any device and have the money sent to your account as soon as the same day.
Futhruemore, there is no limitation on using bad credit same-day loans. You can do basically everything you want with the available funds, such as paying urgent bills, covering emergency expenses, or maybe just making a regular purchase as you wish.