7 Easy Bad Credit Loans from Top Lenders That Say YES!

ElitePersonalFinance
Last Update: September 25, 2023 Loan Reviews Loans

If you need fast cash and you have bad credit, then your options are limited. In this case, most people end up getting payday loans with a super high APR. And if they don’t pay it on time, they end up in a debt cycle.

The number of companies offering personal loans at reliable rates to people with bad credit increases every day. And, as many financial experts claim, this is a trend that will continue. We recommend reading our advanced guide on easy and fast bad credit loans for people who want to get more advanced information and tips on what to do in a situation like this. We also highly recommend that you watch our video on how to get a personal loan even if you are with bad credit.


Below we list the best options available for people looking for easy bad credit loans.

OppLoans

Loan Amount:$500 – $4,000
APR:59% – 160%
Min. Credit Score:0
Approval:< 1 Day
Terms:9 – 18 Months
Origination Fee:N/A
DTI Ratio:N/A
CHECK RATES

OppLoans is a company that can help people with very bad credit. Although some people call them payday loans, and these companies have many similarities with payday loans, they are NOT payday loans. We call them alternative payday loans. These were created to help people avoid payday loans if they are in a bad financial situation. They are somewhere in between personal loans and payday loans. Traditional payday loans have an APR of 400%, which is too high. OppLoans APR is 59% to 160%. That is high, but still much better than 400%. You can get up to a $4.000 loan.

Pros:

  • OppLoans works with very bad credit and can be used to avoid payday loans.
  • Lower APR than payday loans.
  • Alternative payday loans work with people to help them repay their debt instead of getting them in a debt cycle. People who build a credit score, return the money on time, or even just watch educational credit score materials can get approved to lower their APR and increase the amount.
  • The minimum credit score required is 0.
  • Very fast and easy approval.
  • More flexible terms than with traditional payday loans.

Cons:

  • The APR is higher than with traditional personal loans.
  • The amount is lower than with traditional personal loans, typically around $4,000.
  • Some experts say that they are predatory.

Bottom Line

Use OppLoans if you have really bad credit and your options to get a personal loan are limited. Although some experts comment that these alternative payday loans are close to predatory, they are a much better option than payday loans because of the aforementioned benefits.

BadCreditLoans

Loan Amount:$500 – $10,000
APR:5.99% – 35.99%
Min. Credit Score:0
Approval:1 Day
Terms:3 – 36 months
Origination Fee:N/A
DTI Ratio:N/A
Check rates

BadCreditLoans.com is a marketplace that connects people who have really bad credit with lenders willing to work with them. This company can really help you get some fast cash easily, even if your credit score is really bad. The APR and other terms are competitive. Apply and wait until you receive offers from their lenders.

Pros:

  • Reliable APR of 5.99% to 35.99%, which is absolutely within the range of personal loans.
  • Amount of up to $10,000.
  • A really bad credit score is OK!
  • Free to register and no obligation to accept any offer.
  • The minimum credit score required is 0.
  • Very short approval time, and some offers will even arrive in a few minutes.

Cons:

  • APR can increase in some cases if you have really bad credit, but it will still be LOWER than with traditional payday loans.
  • If you have really bad credit, you can’t expect more than $3,000.

Bottom Line

Use BadCreditLoans only if you have really bad credit, and the only other option is to go to a payday lender.

CashUSA

Loan Amount:$1,000 – $10,000
APR:5.99% – 35.99%
Min. Credit Score:0
Approval:1 Day
Terms:24 – 60 months
Origination Fee:N/A
DTI Ratio:N/A
Check rates

CashUSA offers help to people with really bad credit, and their terms are very similar to those at regular personal loan companies. But there is one catch – their loans are secured. So, be very careful.

Pros:

  • Reliable terms for people with really bad credit, like traditional personal loans.
  • No minimum credit score is required.
  • Amount: from $1,000 to $10,000.
  • APR: 5.99% – 35.99%.
  • Terms: 90 days to 3 years.
  • Requests can be approved quickly and easily.

Cons:

  • Only secured loans are available.

Bottom Line

CashUSA can be a great pick for people with really bad credit who are sure that they will pay the money on time. When you secure your loans, lenders feel that you are sure you can pay the money on time. But if you can’t, they can be risky. In this case, search for other lenders that give better terms. Use CashUSA only if you have really bad credit and are sure you will pay the money on time.

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