Questions?

Do I Have To Have Good Credit?

Payday Lenders are understanding that people can fall on hard times and most offer payday loans for people with bad credit. If you have blemishes on your financial record it can be very difficult to get a loan – especially during a tough economy. Everyone deserves a second chance, and a small loan can help you get back on your feet when you need emergency cash. It does not matter if you have bad credit or no credit at all.

Most online payday lenders do not check the three major, traditional credit bureaus during the application process.

Short-term payday loans are designed to help people who are in need of emergency cash, so lenders are understanding that you may have had credit issues in the past, and are willing to work with you. You can still qualify for a short-term payday loan regardless of your credit history. Payday loan rates are oftentimes higher than other short-term loan rates or traditional loan rates. The higher rates help balance the higher risk of lending to people with bad credit or no established credit. For this reason, it is advisable to always pay off a payday loan as soon as possible, and to not borrow more than you can afford to pay back on your next payday.

Paying back your loans on time, without defaulting, can help improve your credit score. Once your credit score is higher, you may then be able to qualify for loans that offer a lower APR.

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