Best No Credit Check Loans

A no credit check loan means a lender will give you a loan without doing a hard inquiry on your credit. This is advantageous because it means your existing credit score won't dip. However, loans that don’t come with a hard inquiry on your credit are often riskier and have higher APRs. Here are a few takeaways:

• Approval: You’ll have to provide proof of income and/or bank activity.

• Types: The most common types are payday, title or cash advance loans.

• Quick funding: The funding of these loans is quick.

• High APRs and cost: APRs are in the triple-digits and costs can be higher.

• Alternatives: You can consider other loan alternatives like credit union loans, BNPL and paycheck advances.

Key Takeaways

• No credit check loans skip the hard inquiry, so your credit score stays put, but you'll usually face triple-digit APRs and shorter repayment windows that can pull you into a debt cycle.

• Common options include payday, title and cash advance loans, plus lenders like 60 Month Loans, OppLoans and Possible Finance, which verify income through bank statements and fund as fast as one business day.

• Before you borrow, compare at least three lenders, confirm licensing, add up total fees and interest and look at alternatives like credit union loans, BNPL apps or paycheck advances first.

Summary generated by AI, verified by MoneyLion editors

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3 Best No Credit Check Loans

Here's how no credit check loans compare to one another:

1. 60 Month Loans

60 Month Loans offers personal loans of $2,600 to $10,000 for terms of up to five years. Instead of using your credit score to make a lending decision, 60 Month Loans looks at your three most recent bank statements to confirm that you have enough income to repay the loan. 60 Month Loans personal loans are available in 16 states.

• Best for: Those who need larger amounts without a credit check

• Loan amount: $2,600 to $10,000 — amounts vary based on state

• Costs: 5% origination fees

• Turnaround time: 1 business day

• Why it stands out: Larger loan amounts and credit reporting

• Watch out for: Not available in all states and you don’t have the option for a cosigner

2. OppLoans

The OppLoans Lending Platform offers loans of $500 to $5,000 with just a soft pull on your credit. OppLoans isn't a lender — it's a loan-matching service that connects borrowers to its lending partners, which are state-chartered banks. Regardless of the loan you choose, you won't pay fees other than interest on the amount you borrow.

• Best for: Those who want to avoid origination fees

• Loan amount: $500 to $15,00

• Costs: No costs other than interest rate

• Turnaround time: As soon as one business day

• Why it stands out: Those who want a relatively small amount of money don't need to face a hard inquiry on their credit.

• Watch out for: High APR

3. Possible Finance

Possible Finance is a payday loan alternative offering a more favorable repayment plan than payday loans typically offer. You can get instant approval for up to $500 — subject to state restrictions, which you can receive instantly, and with no hard pull on your credit.

Possible uses information from bank statements and a soft credit pull to evaluate applications. Possible deposits the loan funds into your bank account or loads them onto a debit card linked to that account. Loans are repayable in four installments spread out over eight weeks. Loan costs vary by state.

• Best for: Those who want to withdraw a small amount of money

• Loan amount: Up to $500

• Costs: $10 to $25 per $100 borrowed or a percentage of loan amount, though some states have fees that vary.

• Turnaround time: Within minutes or up to five days

• Why it stands out: You can get money in minutes and manage it via an app.

• Watch out for: You aren't able to get large amounts.

Pros and Cons

What are the advantages and disadvantages of no credit check loans?

Pros

• Quick funding

• You can get money with a low or no credit score

• Application is easy to fill out

Cons

• APRs can trap borrower in a debt cycle

• Repayment terms are limited

• Loans are not always available in all states

Are No Credit Check Loans Safe?

There are several lenders who offer legitimate no credit check loans, but these loans also come with exceedingly high costs and risks. Payday and title loans are a type of no credit check loans that come with the highest risk. You’re facing high APRs — often triple digits —and with a title loan you may risk losing your car if you default on payments.The terms are shorter so it becomes harder to repay.

Tip: Always compare loan alternatives before choosing a payday or title loan.

How To Choose the Best No Credit Check Loan

If you've firmly decided a no credit check loan is in your best interest, evaluate the terms and rate thoroughly before moving forward. Here's a checklist that can help guide you:

1. Confirm the lender is legitimate. Make certain the lender has a license, and also check the Better Business Bureau for complaints.

2. Check the total cost. Don't just look at the monthly payment. Factor in interest and fees into your cost.

3. What is the repayment timeline? It's a good idea to check how long you have to pay off the loan.

4. Avoid extensions. If you want to prevent being trapped in the debt cycle, avoid extensions.

5. Compare lenders. Have at least three or four options to give you an idea of comparison costs among different lenders.

Alternatives to No Credit Check Loans

If you've decided that you don’t want to use a no credit check loan, there are other alternatives.

• Credit union loans: If you’re a member of a credit union, they offer payday loan alternatives that have lower APRs and loan ranges from $200 to $1,000.

• Personal loans for bad credit: Lenders like Upstart and Upgrade offer loans to borrowers with poor to fair credit. The APRs are typically from 15% to 35%.

• Buy now, pay later (with caution): Apps like Klarna and Affirm offer a way to make a purchase and allow repayment in four installments.

• Payment plans: You can contact the provider. i.e., hospital, and work out a payment plan directly.

• Paycheck advances: You can have access to money that you've earned but haven’t received it. The advance is deducted from your next paycheck.

👉 Best Personal Loans

FAQs

Is it possible to borrow money without a credit check?

It's typically not possible to borrow without a soft credit check to verify your personal and financial information. However, a soft check has no effect on your credit. A small number of lenders do let you borrow without a hard credit check to verify your credit score and history.

Which type of loan does not require a credit check?

Personal loans are a common type you can get without a credit check. Auto lenders sometimes offer car loans with no credit check, too. While such loans are sometimes called "guaranteed," they're not. All loans have lending requirements, such as verifiable income and employment.

What is a hardship loan?

A hardship loan is for borrowers facing a cash emergency. Lenders usually set low loan limits and high interest rates for such loans. In addition, you'll typically have to repay the loan within a few months. Some hardship loans are predatory in nature — they take advantage of people with poor credit by charging exorbitant interest rates that make the loans difficult to repay.

What's the easiest loan to get online immediately?

Wise Loan offers 15-minute funding if you accept your loan and return any required documents before 5:30 p.m. CT. But check with your bank to find out what the waiting period is before it makes the deposited funds available to you.

Can I get a loan with no income?

Yes, but you'll have to offer some other type of collateral. Payday loans, title loans and pawn shop loans are all ways to get a loan without any income.

Do these loans affect my credit?

When you apply or make timely payments, it won’t impact your credit. However, several missed payments could affect your credit in a negative way.

Key Terms

• No-credit-check loan: A loan that skips a hard credit inquiry. Lenders may still review your income, bank activity or use a soft inquiry to decide whether to approve you.

• Hard inquiry: A lender's credit check after you apply for credit. It can affect your credit score because scoring models consider how often you apply.

• Soft inquiry: A review of your credit file that does not affect your credit score. It may happen when you check your own credit or a lender screens you.

• Annual percentage rate (APR): The yearly cost of borrowing, including interest and certain lender fees, shown as a percentage so you can compare loan costs.

• Payday loan: A short-term, high-cost loan, usually for $500 or less, that is typically due on your next payday.

Sources:

• Consumer Financial Protection Bureau: What is a credit inquiry?

• Consumer Financial Protection Bureau: What is the difference between a loan interest rate and the APR?

• Consumer Financial Protection Bureau: What is a payday loan?

Summary generated by AI, verified by MoneyLion editors

Daria Uhlig contributed to the reporting for this article.

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