Can You Get A Payday Loan With Bad Credit?

Many folks find themselves in a financial predicament at one time or another. It’s often simply a case of bad timing. Usually, a bill comes just before payday or an automobile needs repairs. It could even be the result of the sudden need for medical treatment.

Whatever the cause, a family can find themselves in need of extra money.

Often, a loan will cover expenses. The problem with a bank loan is that it can take a while to get approved. Meanwhile, bills are waiting to be paid and late fees can quickly add to the problem.

The other problem with a bank loan is getting past the credit check. Not everyone’s past credit is spotless and a mishap or late payment can leave a mark that lasts for a while. A black mark on one’s credit score can prevent a bank loan from being approved.

getting loans with bad credit

Where Do You Get Loans with Bad Credit?

There’s still another option for the individual who needs money fast but is hindered by bad credit. Obtaining bad credit personal loans from a direct lender is still well within the realm of possibility. A direct lender of payday loans and cash advances well understands that many people have imperfect credit. Direct lenders will work with a borrower to find out the right amount the borrower needs and agree on the size and frequency of payments made on the loan.

Most direct lenders don’t count a borrower’s FICO score against them. FICO is the largest and most trusted consumer risk authority and the biggest hurdle in getting approved for a loan for anyone with bad credit. By waving the need to meet a particular FICO score, direct lenders open up the ability to get a loan to a much wider range of borrowers.

Usually, a lender will require a social security number. This means a borrower will need to be a U.S. citizen or they must be a permanent resident living in the United States.

18+ for payday loans


Another requirement a payday lender will make is that a potential borrower must be an adult of at least 18 years of age. As long as one meets the requirements of being a U.S. citizen, or permanent resident, and is of 18 years of age or more, they become a likely candidate for being approved for a cash advance or bad credit loan.

The thing to remember is that many folks run into issues with finances. Not everyone comes through those issues with a squeaky clean credit score. People mature and become more experienced as they get older. Circumstances also change. With that in mind, bad credit from past events shouldn’t keep one from getting ahold of a loan they need now. With the right credit lender, it becomes possible to obtain a loan, even with bad credit.

Summing It Up: Can You Get a Payday Loan with Bad Credit

The answer to that question is:

Yes. You can get a payday loan with bad credit.

About Kelly Stone

Kelly is a graduate of Northwestern University's Kellogg School of Management with a Master's Degree in Finance. Kelly has 20+ years experience in the short-term lending industry since 1996, having owned 50 storefronts offering payday loans. As President of Snappy Payday Loans, Kelly has built a large network of lenders and is dedicated to ensuring consumers nationwide can find the loan they are seeking. View More