Do you have a bad credit score? You’re not alone. Millions of Americans have a “thin credit” – people with no or very limited credit data – or just a poor score. It doesn’t mean much about you except that you will have a difficult time borrowing money, which we all need from time to time. Anyway, If you really need a loan now and you’re asking yourself how the heck you are going to do this, you landed on the right page.
How can I borrow money with bad credit and guaranteed approval?
You have a few options, neither of them are 100 % guaranteed to be approved but the odds are definitely on your side:
1. If you need an amount between $200 and $2,500, you check out PockBox. What we like about it: You are very likely to get cash today! Behind the scenes, they connect you to dozens of different lenders and automatically find the right lender for you. The application process is quite simple and should not take more than a few minutes.
2. If you’re looking for a $25 – $150 cash advance, you should really check out new apps like dave or apps like earnin. These apps are extremely simple to use and can send you some quick cash before you next paycheck. Oh, and the best thing about them is that most of them are interest free!
3. Either way, we recommend you to start working on rebuilding your credit score. This will enable you to take loans at a much better interest rate, and improve your overall financial situation.
There is no such a thing as 100% guaranteed approval, but if you need cash and you know that your credit score isn’t high enough, doing the following will save you time and increase the chance you receive the quick cash that you need.
Check your eligibility even before spending time on the application. Most lenders will have their requirements to get approved posted on their websites. It doesn’t get very original and they will mostly be based their decisions on things like income, employment, etc. Checking these requirements before starting the application will make you save time and trouble.
Check your options! You have more options than you think. Moreover, some applications will actually appear on your credit file so applying for too many loans from different lenders could further hurt your credit score. Try to figure out what are the best options for you in terms of rate before applying.
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What is a bad credit score
Bad could be either “low” or “poor”. A low credit score range is from 580 to 619, while a poor credit score ranges from 500 to 579. Who issues theses scores? Well, there are different credit bureaus in the U.S. issuing them, therefore your score might slightly vary from one bureau to another. The technique to calculate your score is called FICO and was created in the 1950s.
If you don’t know you credit score, you can figure it out, and for free! The service we like the most doing that is Credit Karma. The sign-up process for Credit Karma is rather quick and frictionless and their app is quite intuitive!
Luckily, many lenders don’t look at your credit score for eligibility, and that’s the reason we wrote this article.
Bad credit loans online
Many loans product out there will provide you unsecured personal loans with bad credit not being an issue. We know that many of you are looking for personal loans not payday loans and we totally understand you. We definitely encourage you to use alternative products that are not payday loans.
I need a loan
“I need a loan now” – we have all been there! If you need a cash advance now of less than $100 you should check out apps like MoneyLion or apps like GoChange. If you need cash now for a larger amount than a few hundred dollars, you will probably have to deal with lenders that have higher interest rates.