Best Alternative Payday Loans for Bad Credit of July 2022

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 2022!

Amount:

$100 - $15,000

Min. Credit Score:

0

APR:

5.99% - 35.99%

Approval:

< 1 Day

Terms:

1 - 72 Months

1101 Reviews
Amount:

$100 - $40,000

Min. Credit Score:

0

APR:

Vary

Approval:

< 1 Day

Terms:

1 - 60 months

Amount:

$100 - $15,000

Min. Credit Score:

0

APR:

5.99% - 35.99%

Approval:

< 1 Day

Terms:

1 - 60 Months

Amount:

$200 - $5,000

Min. Credit Score:

0

APR:

5.99% - 35.99%

Approval:

< 1 Day

Terms:

1 - 60 Months

Amount:

$100 - $40,000

Min. Credit Score:

0

APR:

Vary

Approval:

< 1 Day

Terms:

1 – 60 Months

1450 Reviews
Amount:

$500 - $4,000

Min. Credit Score:

0

APR:

59% - 160%

Approval:

< 1 Day

Terms:

9 - 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 18 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:
  • Quick approval process.
  • Those with poor credit can still qualify.
  • OppLoans offers installment loans.
  • 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: Best for: Really Bad Credit

Best Personal Loans for Bad Credit 2022

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

NextDayPersonalLoan

$100 - $40,000

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

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

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 2022

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

NextDayPersonalLoan

$100 - $40,000

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.