In this article, we are to review the best short-term loans for bad credit, so if you are looking for a loan and have a bad credit record, this article is for you.
Short-term loans are the same as a standard loan but offer options for borrowers with credit scores below 580. Some lenders offer bad credit loans for applicants with little to no time to build a credit history or who may have experienced some downsides.
Life can be unpredictable and sometimes brings you unexpected expenses, so a short-term loan can be a great solution, provided you borrow responsibly.
While it can be challenging to get a loan with a credit score below 580, some lenders are ready to extend funds to applicants between 580 and 600. The lowest credit score requirements tend to differ between lenders, so check if your score qualifies through your preferred lender. Due to their credit scores, bad credit applicants will typically receive high-interest rates and lower loan limits.
When choosing a lender, you’ll want to look at several factors beyond the credit score requirement. The best ones have transparent pricing, interest rates, fees, quick funding and approval times, various repayment terms, and loans that can be used for multiple purposes.
The following guide will look at the best short-term loans for bad credit. The best short-term loans for bad credit are for borrowers with less-than-perfect credit, including loans up to 90 days, 90-plus day loans, and a few alternatives to consider.
MoneyMutual is one of the best short-term loans for bad credit. It is a cash advance loan, a smaller loan with terms that average a week or two but sometimes extend up to three months. To be eligible for the best short-term loans for bad credit, you must have a valid checking account and meet monthly income requirements, which will differ by lender, and you can access short-term loans up to $5,000. The funds are always available within 24 hours, and MoneyMutual is trusted by more than 2 million customers but is not available in N.Y. or C.T.
CashAdvance.com is one of the best short-term loans for bad credit. It is also a cash advance loan with terms that average a week or two but can sometimes extend up to three months. CashAdvance.com is a short-term loan of $100 to $1,000. It comprises an extensive network of lenders, and their funding is carried out in the next business day if approved. It is good to remember that the longer your loan terms are, the more that loan will cost you in total. It is important to remember that short-term cash advance loans typically require a lump-sum repayment.
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CashUSA.com is one of the best short-term loans for bad credit Loans. When you apply for a loan, you will receive the loan decision in minutes and can access from $500 to $10,000. The fund is directly sent to your bank account and can be used for any purpose.
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You can access loans from $500 to $10,000 on BadCreditLoans.com. It is one of the best short-term loans for bad credit Loans because it gets you connected with a lender which has a simple form & quick funding. If your loan is approved, you get your money the next business day.
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You can access loans from $500 to $35,000 on PersonalLoans.com. It is one of the best short-term loans for bad credit because it operates an extensive lender network and has fast loan decisions. If a loan is approved, funding is done in one business day, and the loan can be used for any purpose.
PREMIER Bankcard Mastercard Credit Card
PREMIER Bankcard Mastercard Credit Card approves applications others may not, making it one of the best short-term loans for bad credit. It operates a stable, award-winning US-based Customer Service agent there to help anytime you need assistance.
PREMIER Bankcard Grey Credit Card
You don’t need good credit to apply for PREMIER Bankcard Grey Credit Card. It is one of the best short-term loans for bad credit because it helps people with bad credit daily to secure a loan. You can build or rebuild your credit if you apply for a PREMIER Bankcard credit card, keep your balance low, and pay all your monthly bills on time.
Secured Sable ONE Credit Card
Secured Sable ONE Credit Card is among the best short-term loans for bad credit. It enables applicants to earn 2% cash back on everyday purchases at Uber, and Uber Eats, Amazon, Whole Foods, Spotify, Netflix, etc.., and 1% cashback on everything else.
A credit check or U.S. credit history is not required, and SSN is not required for non-US citizens. It builds U.S. credit history from day 1 at significant credit bureaus. Foreign transaction fees, minimum-security deposit, and annual fees are not needed, and Premium benefits like Cell Phone Protection, including cracked screens, and Car Rental Insurance coverage.
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24/7DollarLoan is one of the best short-term loans for bad credit with the benefit of clean website design. The personal loan is accessed in 60 seconds, and you can access loans from $100 to $1,000. 24/7DollarLoan offers loans for entrepreneurs.
LendingPoint is an online lender based in Atlanta and one of the best short-term loans for bad credit. It offers personal loans to potential borrowers in 48 states and Washington D.C.; it does not offer loans in Nevada and West Virginia. LendingPoint operates quick funding, requires a low credit score, and has no prepayment penalty.
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The best short-term loans for bad credit tend to charge much higher interest rates, often in the form of a flat fee, when you repay your loan because the loan amounts and lengths are small, with less built-in interest profit than longer-term loans. When you take a loan, always make your payments as agreed, read the fine print of your agreements, and never borrow more than you can afford to repay. Late payments, missed payments, or non-payment of your debt can result in severe credit impacts, making it more difficult and more expensive to get new credit in the future.