List Of online payday loans for low credit score

Getting Online Payday Loans With Low Credit Scores

Having a low credit score can make it challenging to get approved for traditional personal loans from banks and other mainstream lenders. However, there are online payday lenders that provide access to small short-term loans for borrowers with poor credit histories.

Payday loans allow you to borrow against your next paycheck to access quick cash before payday. These loans typically range from $100 to $1,000 with payment terms of 2-4 weeks when your salary is received.

While payday loans for bad credit can provide fast money in a pinch, they come at a very high cost. Interest rates easily exceed 400% APR and extra fees apply. You should only use payday loans sparingly for absolute emergencies and repay them as quickly as possible.

This guide will cover some online payday lenders that work with low credit borrowers, what to expect from the loans, and tips for minimizing the risks and high costs associated with payday products.

List Of online payday loans for low credit score

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Overview of Payday Loans

Payday loans, sometimes called cash advances or check loans, are designed specifically for people who need immediate access to cash due to an unexpected expense or other short-term needs.

Here is an overview of how payday loans work:

  • Loan amounts usually range from $100 to $1,000, depending on the lender. Some states have limits on how much you can borrow.
  • Loan terms are typically 2-4 weeks, tied directly to your next pay date when repayment is automatically withdrawn from your bank account.
  • Interest rates average around 400% APR but can exceed 700% in some cases. Additional fees also apply.
  • Approval is quick and funding is often within one business day since minimal eligibility requirements need to be met.
  • Collateral or security is not required. However, the lender will ask for access to your checking account to secure the loan.

Payday lenders cater specifically to borrowers with bad credit, limited income, and those who cannot qualify for other conventional loans due to their high-risk profiles. But the trade-off is that they charge astronomically high rates. Let’s discuss some specific online payday lenders for low credit borrowers.

Online Payday Lenders for Bad Credit

Here are some online payday lenders that work with borrowers who have low credit scores:


MoneyMutual provides access to payday loans ranging from $200 to $5,000. They have a network of over 100 lenders willing to work with borrowers even with very poor credit (below 580 FICO).

Loan terms are 14-31 days typically tied to your pay date. MoneyMutual itself does not issue loans but will match you with appropriate lenders after completing one application form.


CashUSA offers payday loans up to $10,000 to borrowers with low credit scores. Their lenders provide loan terms between 90 days to 72 months.

Receive offers from their large lender network after completing just one online form. Loan proceeds are deposited as soon as the next business day.


BadCredit caters to borrowers with poor credit by connecting them with online payday lenders across their network.

Loan amounts range from $500 to $5,000 with APRs that start at 199% based on the specific lender. Terms are flexible from 90 days to 5 years.


PickALender works with borrowers who have a weak credit history by providing access to payday loan offers from their lending partners after completing one application form.

Borrowers can qualify for up to $1,000 with APRs from 100% to 900% depending on the lender. Repayment terms are typically 2-4 weeks.

When using an online payday lender marketplace, be sure to compare all offers side-by-side before choosing a loan product. Scrutinize the fees, APR, and terms of any deal carefully.

What to Expect as a Low Credit Borrower

If you apply for an online payday loan with low credit scores, here is what you can generally expect:

  • The lender will run a soft credit check that does not impact your score to review your basic personal finance history.
  • Having very poor credit in the 550-579 range or below will not necessarily disqualify you, but it will impact loan costs.
  • Approval decisions are made very quickly, often instantaneously or within a few hours.
  • You will need to provide personal information like SSN, employer details, income amount, and banking info.
  • Loan offers will have high APRs of 200% or above, sometimes exceeding 500% based on your credit risk profile.
  • The loan term will typically be short, usually 2-4 weeks tied to your next pay date as the withdrawal/repayment date.
  • Loan proceeds are sent via direct deposit to your bank within one business day in most cases.

While easily accessible for low credit borrowers, the downside is the astronomical financing costs. Let’s go over some tips for minimizing the risks.

Tips for Minimizing Payday Loan Risks

Payday loans can become very expensive, especially for borrowers with low credit scores who qualify for the highest interest rates. Here are some tips to reduce the risks if you need to take out a payday loan:

  • Borrow only what you can afford to pay back – Limit the loan amount to the absolute minimum you need so repayment is manageable.
  • Understand the costs – Carefully review all finance charges, fees, penalties and APR so you know the true costs. Make sure they align with your budget.
  • Avoid loan renewals – Do not extend the loan or take back-to-back loans as this quickly leads to debt spirals. Have a plan for full repayment by the due date.
  • Watch out for lender changes – Some payday lenders will sell debt to third parties who may add new fees. Stay on top of correspondence.
  • Avoid borrowing for discretionary purchases – Only use payday loans for truly emergency situations like car repairs or emergency medical costs. Don’t use them for discretionary spending.
  • Have a repayment plan – Understand exactly when repayment will be withdrawn and ensure those funds are available and budgeted. Don’t take the loans lightly.
  • Explore alternatives if possible – Payday loans should be a very last option. First see if you can borrow from family or friends, negotiate payments with creditors, or use a credit card.

While payday loans do provide fast access to cash despite having low credit, they come at an extremely high price. Weigh the costs seriously and use them sparingly as a last financial resort. Gradually building your credit over time can open up more affordable financing options.

Alternatives to Payday Loans

Payday loans charge excessively high fees that can trap borrowers in endless debt cycles. Before turning to payday lenders with bad credit, explore some alternative options:

  • Borrow from family and friends – Ask relatives or friends for a small personal loan. Offer to sign a promissory note.
  • Negotiate with creditors – Contact creditors directly, explain your situation, and request extended payment plans. Avoid late fees.
  • Hardship programs – Many utilities and cell phone providers have special assistance programs for those facing financial challenges. Enroll in programs that allow you to pause or lower payments for a period of time.
  • Credit counseling – Consult a non-profit credit counseling agency for customized debt management advice and financial education guidance customized for your situation.
  • Small dollar loans – Some credit unions and community banks offer small personal loans at reasonable interest rates for those trying to avoid payday lender traps.
  • Cash advances – Rather than payday loans, consider less expensive cash advances on your credit cards if available. Or withdrawing from a credit line if you have any available.
  • Peer-to-peer borrowing – Sites like LendingClub connect borrowers and individual lender investors who may provide more reasonable terms.
  • Balance transfer cards – Transfer high-interest balances to a 0% introductory APR credit card temporarily to reduce financing costs.

Payday loans should only be considered as an absolute last resort. Exhaust safer and more affordable alternatives first before turning to high-cost payday products to avoid spiraling into debt.


Online payday lenders do provide quick access to emergency cash for individuals with low credit scores who cannot qualify for traditional lending options. However, the extremely high interest rates, often exceeding 400% APR, means payday loans come at a very high price and risk.

Tread carefully, only borrow what you can realistically repay on the short 2-4 week terms, have a budget plan ready, and avoid renewing or rolling loans over. Payday lending should be seen as a last financial resort after all other options.


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