Best Alternative Payday Loans for Bad Credit of September 2021

ElitePersonalFinance
Last Update: August 10, 2021

Alternative payday loans are better than payday loans!

Alternative payday loans work for people with really bad credit. They fill the gap between personal loans and payday loans. They are no credit check loans.

They are installment types of loans, typically offering between $100 to $5,000. Their APR is between payday loans and the personal loan offer. On average, you can expect 100%, which is much better than payday loan APR, averaging at 400%.

We use alternative payday loans only if we can’t qualify on a personal loan because they are expensive.

ElitePersonalFinance found the best alternative payday loans for bad credit 2021!

1450 Reviews
Amount:

$500 - $4,000

Min. Credit Score:

0

APR:

59% - 160%

Approval:

< 1 Day

Terms:

1 - 18 Months

Alternative Payday Loan
More Information

We recommend alternative payday loans for those with really bad credit who can't qualify for a personal loan. These companies are more expensive than personal loans but much better than payday loans. The company offers loan amounts ranging from $500 to $4,000, with APRs that range from 59% to 160%. Loan duration range from 9 months to 36 months, but people can choose to give their money back in a month. Opploans charges zero prepayment penalties. Their loans are unsecured, which means no upfront collateral is required, and as you continue to make on-time payments, you build your credit score in the process. Moreover, if your loan is approved, you can receive funds in as little as one business day.

Pros:
  • Easy approval process.
  • Those with very bad credit can still get approved.
  • Opploans offers installment loans and lines of credit.
  • Opploans does not check your credit score but will assess your financial transaction history.
  • Loans are unsecured and do not require any collateral.
  • There are no prepayment penalties.
  • Opploans offers refinancing options to select borrowers.
  • Alternative loan sites like Opploans have lower APRs than payday or car title loans.
  • No origination fees.
Cons:
  • APRs are high, ranging from 59% to 160%.
  • Not available in all states.
Best for: Really Bad Credit
Amount:

$100 - $15,000

Min. Credit Score:

0

APR:

5.99% - 35.99%

Approval:

< 1 Day

Terms:

1 - 72 Months

2326 Reviews
Amount:

$100 – $500

Min. Credit Score:

0

APR:

150% – $1,000% for Single-Payment Loans 30% – 180% for Installment Loans

Approval:

< 1 Day

Terms:

Vary

Alternative Payday Loan
More Information

As another reliable alternative lender, LendUp offers unsecured loans that range from $100 to $500. Loan duration is up to a month for single-payment loans and several months for installment loans. If approved, you can also receive funding in as little as one business day.

LendUp offers single-payment loans and installment loans. Their single-payment loans are like payday loans. The only difference is that they are cheaper. Their installment loans come with lowers APRs than their single-payment loans but are still more expensive than traditional personal loans. It’s like short-term installment loans.

LendUp doesn’t disclose their APRs correctly on their site. And their APR is not easy to find because they are affected by many factors: the amount, the type of the loan, the credit score, and the state.

We and many other leading financial sites tried to find it, but the truth is that all sites list different values. This means that there is no exact answer. But roughly, things look like that:

  • Single-payment loans: Up to $500 ; APR: 150% – $1,000%.
  • Installment loans: Up to $400 ; APR: $30% – $180%.

Through its LendUp Ladder, you can also rebuild your credit profile. Each time you make on-time loan payments and complete its free education courses, points are credited to your account. As you reach new milestones, you’re able to access increased borrowing amounts and can also have your credit history sent to major credit bureaus. The program is designed to help borrowers increase their credit scores and receive more favorable loan terms.

Its milestones look like this:

  • Silver members can receive up to $250 for a single-payment loan.
  • Gold members can receive up to $250 for a single-payment loan and up to $200 for an installment loan.
  • Platinum members can receive up to $250 for a single-payment loan and up to $500 for an installment loan.
  • Prime members can receive up to $250 for a single-payment loan, up to $500 for an installment loan, and up to $500 for a Prime loan.

Platinum members can also opt into the credit reporting program, while Prime members are automatically enrolled. LendUp’s alternative loans are only available in select states. These include: California, Louisiana, Mississippi, Missouri, South Carolina, Tennessee, Texas, and Wisconsin.

Pros:
  • Loans are available to those with bad credit.
  • Receive funds in as little as one business day.
  • LendUp has no annual income requirement.
  • Installment loan APRs are extremely affordable and range from 30% to 180%.
  • Through its LendUp Ladder, you earn points that can lead to larger borrowing amounts and help increase your credit score.
  • LendUp offers credit education courses that aim to increase your financial knowledge.
Cons:
  • Single payment loans have APRs that range from 156.43% to 1,016.79%.
  • Loans can have fees upwards of 20% of the amount borrowed.
  • Loans are only available in California, Louisiana, Mississippi, Missouri, South Carolina, Tennessee, Texas, and Wisconsin.
Best for: Really Bad Credit

Best Personal Loans for Bad Credit 2021

Wait! Are you sure that your credit score is so bad? People with bad credit get approved on personal loans with APR between 15% to 35.99%. Try them before you apply for alternative payday loans.

BadCreditLoans

$500 – $10,000

Min. Credit Score: 0

< 1 Day Approval

Apply Now

ZippyLoan

$100 - $15,000

Min. Credit Score: 0

< 1 Day Approval

Apply Now

LendJetFunds

$100 - $10,000

Min. Credit Score: 0

< 1 Day Approval

Apply Now

CashUSA

$1,000 - $10,000

Min. Credit Score: 0

< 1 Day Approval

Apply Now

Upgrade

$1,000 - $50,000

Min. Credit Score: 600

< 1 Day Approval

Apply Now
1596 Reviews
Amount:

$1,000 - $15,000

Min. Credit Score:

0

APR:

34% - 155%

Approval:

1 Day

Terms:

6 – 60 Months

3259 Reviews
Amount:

$500 - $5,000

Min. Credit Score: 0 APR:

60% - 299%

Approval:

1 Day

Terms:

4 - 26 Months

Amount:

$100 - $15,000

Min. Credit Score:

0

APR:

5.99% - 35.99%

Approval:

< 1 Day

Terms:

1 - 60 Months

Amount:

$100 - $10,000

Min. Credit Score:

0

APR:

5.99% - 35.99%

Approval:

< 1 Day

Terms:

1 - 60 Months

1589 Reviews
Amount:

$50 - $500

Min. Credit Score: 0 APR:

151% - 257%

Approval:

1 Day

Terms:

1 - 24 Months

1537 Reviews
Amount:

$50 - $1,000

Min. Credit Score: 0 APR:

35.99% - 211%

Approval:

1 Day

Terms:

1 - 6 Months

1537 Reviews
Amount:

$500 – $5,000

Min. Credit Score: 0 APR:

37% - 92%

Approval:

1 Day

Terms:

6 - 60 Months

1370 Reviews
Amount:

$500 - $10,000

Min. Credit Score:

0

APR:

5.99% - 35.99%

Approval:

< 1 Day

Terms:

3 - 36 Months

Really Bad Credit
More Information

When we talk about bad credit loans, BadCreditLoans.com should always be at the top of our list! And there is a good reason for that.  BadCreditLoans have helped millions get a personal loan, while so many people still pay insane interest on their payday loans. BadCreditLoans.com is a leading company helping people with really bad credit. They are NOT a payday loan company! They are a huge marketplace connecting people with bad credit with lenders offering UNSECURED bad credit loans. The company offers loans of $500 to $10,000, APR 5.99% to 35.99%. And bad credit is always approved ... in less than a day. In fact, this is the most successful personal loans company for bad credit that we at ElitePersonalFinance know. Whether you want to get a bad credit loan or refinance your existing payday loans with one cheaper loan, try BadCreditLoans.

Pros:
  • The Best in The Bad Credit Business!
  • Easy and fast approval.
  • Unsecured loans.
  • Those with really bad credit get approved.
  • APRs are in the personal loan range, which means less than 5.99% to 35.99%.
  • Not a payday loan company.
  • Amount of up to $10,000.
  • Huge lending network.
  • Free to register and no obligation to accept any offer.
  • The minimum credit score required is 0.
  • No hard inquiry on your credit score, so registering won't lower your credit score.
Cons:
  • For those with really bad credit, expect high APRs ranging from 15% to 35.99%.
  • People with really bad credit can’t expect to qualify for the highest amount of $10,000, but they can expect up to $1,500.
  • Not all loans get approved.
Best for: Really Bad Credit
1156 Reviews
Amount:

$500 - $10,000

Min. Credit Score:

0

APR:

5.99% - 35.99%

Approval:

< 1 Day

Terms:

3 - 72 Months

High Approval Rate
More Information

Designed specifically for those with bad credit, CashUSA offers installment secured personal loans for people with bad credit. APRs range from 5.99% to 35.99%, but even if you have bad credit, putting collateral to your loan can lower the APR as low as 10%. CashUSA offers loans up to $10,000, but according to their website, the amount can be increased under certain conditions. But remember, if you fall behind on your payments, there is a chance you could lose your car. We only recommend secured loans if you’re sure you can repay the debt on time and in full.

Pros:
  • Easy approval.
  • Those with really bad credit can still be approved.
  • The company applies personal loan APRs ranging from 5.99% to 35.99%.
  • People with bad credit get as low as 10% APR.
  • Borrowing amounts can exceed $10,000, but you have to speak with them directly.
Cons:
  • Secured loans put you at risk of losing your collateral.
  • Bad credit means a higher APR, although it’s still much lower than a traditional car title loan.
Best for: Secured Personal Loans
2690 Reviews
Amount:

$1,000 - $35,000

Min. Credit Score:

580

APR:

5.99% - 35.99%

Approval:

< 1 Day

Terms:

3 - 72 Months

Lowest cost
More Information

PersonalLoans offers unsecured loans ranging from $1,000 to $35,000, and because the company only requires a minimum credit score of 580, PersonalLoans is a great place to obtain a bad credit loan. Its APRs range from 5.99% to 35.99%, but you need to have some form of recurring income to qualify. It can be full-time employment, self-employment, regular disability, or Social Security benefits. Loans are not available to residents in Arkansas, Georgia, or New York.

Pros:
  • Low credit score requirements of 580.
  • Low-income requirement of $1,000.
  • Bad credit is ok.
  • The highest amount allowed is $35,000.
  • Available in many states.
Cons:
  • People with really bad credit can’t apply.
  • You can’t have an account with a late payment for longer than 60 days or a recent bankruptcy.
  • You can’t have any recent charge-offs or late payments.
Best for: Bad Credit

Best Loans for Really Bad Credit 2021

ZippyLoan

$100 - $15,000

Min. Credit Score: 0

< 1 Day Approval

Apply Now

BadCreditLoans

$500 – $10,000

Min. Credit Score: 0

< 1 Day Approval

Apply Now

CashUSA

$1,000 – $10,000

Min. Credit Score: 0

< 1 Day Approval

Apply Now

LendJetFunds

$100 – $10,000

Min. Credit Score: 0

< 1 Day Approval

Apply Now

PersonalLoans

$1,000 – $35,000

Min. Credit Score: 580

< 1 Day Approval

Apply Now

If your credit score is really bad and you can’t qualify for a none of these, there are other options. These loans are more expensive, but the approval rate is high.