Best Payday Loan Alternatives of September 2021

ElitePersonalFinance
Last Update: August 10, 2021

We at ElitePersonalFinance strongly recommend that you stay away from payday loans because:

  • Payday loans are predatory.
  • Their APR average at 400%.
  • They often lead people into a debt cycle.
And !!!
  • There are many more options available, even for those with really bad credit.
Here they are:

Best Debt Consolidation Loans for Bad Credit 2021. Try them if you already have many loans and you are with bad credit.

Best Alternative Payday Loans 2021. Try them if you can’t get approved for regular payday loans.

Best Loans for Really Bad Credit 2021. Try them if you are with really bad credit.

Best Auto Title Loans for Really Bad Credit 2021. Try them if you are with really bad credit.

Amount:

$100 – $10,000

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:

$100 - $10,000

Min. Credit Score:

0

APR:

5.99% - 35.99%

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 - 72 Months

1101 Reviews
Amount:

$100 - $50,000

Min. Credit Score:

0

APR:

Vary

Approval:

< 1 Day

Terms:

1 - 60 Months

1247 Reviews
Amount:

$100 - $5,000

Min. Credit Score:

0

APR:

Vary

Approval:

< 1 Day

Terms:

1 - 36 Months

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

OppLoans is alternative payday loan. Alternative payday loans approve people with really bad credit, who can’t qualify for a personal loan. Alternative payday loans are times cheaper than traditional payday loans!

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
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