Payday Loans for Bad Credit

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Payday loans for bad credit

You can get a payday loan with bad credit. In fact, payday loans are a viable option for people with all types of credit issues. Bad credit payday loans do not rely on traditional credit scores. Payday lenders use alternative measures to decide whether to loan to any individual person. Let us take a look at some payday loan options if you have bad or poor credit and what you can expect if you choose to get a payday loan for bad credit.

How can you use a payday loan for bad credit?

Payday loans for consumers with good, bad, or poor credit are small dollar, short term loans that should be used for emergency reasons like:

  • Auto Expenses

    If your car suddenly breaks down, you may need a payday loan to get it fixed. Almost all of us rely on our cars to get to work, so being without them is not an option. Without adequate funds for an auto repair, you might not be able to get to work.

  • Groceries

    So many people have had their work hours reduced and find themselves short of cash at times. There is nothing worse than not being able to buy groceries for your family. In such a case, a small, short-term loan may be the only answer.

  • Rent/Mortgage/Utilities

    If you are a little short of your rent or house payment, an online payday loan for bad credit may be the answer. If one of your utility bills is overdue, you may find a bad credit payday loan to be a great solution. Most utilities charge excessive penalties, restart fees, and new deposits just to turn on the lights. Payday loan fees are often far less expensive than the utility fees you might suffer.

    Of course, there are many more reasons you may need a quick cash advance.

How quickly can you get an online payday loan for bad credit?

Payday loans are funded fast if you are approved. You can expect to get the cash in just one business day. In some rare cases, you may be able to get cash the same day, but not all lenders will do this. Feel free to ask your lender if they provide this service. If you are searching for a ‘bad credit payday loan near me,’ look no further. No reason to drive around looking for storefronts and wasting lots of time and gas. You are in the right place to get started.

How to apply for payday loans for bad credit?

Applying for a payday loan for bad credit takes only 2-5 minutes. You complete your loan request online on our short, secure form. You can do this from your smartphone, pad, or PC. Most people are approved for payday loans for bad credit.

What are the basic requirements for payday loans online for bad credit?

To qualify for online payday loans for bad credit, you must

  • Be 18 years of age or older
  • Have an active email address and phone number
  • Be a US citizen or legal resident
  • Have an open checking account
  • Have an income of at least $1,000 a month (from all sources)

How much does a payday loan with bad credit cost?

Each state has different laws regulating the fees and interest charged for payday loans. You can check out your state website for specifics. In general, you will pay $15 to $30 for every $100 you borrow. You could be responsible for additional fees for any late or missed payments.

Payday loans are far more affordable than in the past, as many states have tied the rates to the maximum credit card rates. So if your credit card is maxed out, you may not be paying more for a payday loan than you would have on your credit card.