Guaranteed Payday Loan Online for Bad Credit No Matter What – Get up to $5000!
When you need quick and instant cash loans to meet financial emergencies in the family, your application turned down by traditional banks or credit unions can be heartbreaking. However, if you have bad credit, which means a score of less than 579, then getting a loan can be extremely difficult.
So, are there any guaranteed approval options available when you need funds quickly and the odds are against you? Is there anything called guaranteed payday loans? Well, we would say Yes and also No. Unlike the traditional financial institutions, your chances of getting a loan from direct loan lenders are incredibly high.
While many direct loan lenders promote their business by saying that they offer guaranteed approval cash loans, realistically, 97% of the applicants are approved. How is that possible? The direct lenders such as Massat Loan have a very simplified application process with no credit score check.
Why Is It Often Called as Guaranteed Payday Loan Online
These types of short term bad credit payday loans are often referred to as guaranteed approval advance because of the ease with which you can apply for them. Plus, they also have a much higher approval percentage than other bad credit payday loans offered by federal or private banks.
Direct payday loans only have a few basic requirements for a person to get a loan. As a result, most applicants, despite their varied backgrounds, get selected for the loans online application. Some people who feel too intimidated to approach a bank for credit due to fear of rejection also have the will to apply online.
Let’s take a look at some of the various cases where guaranteed approval payday loans come in handy as a sure shot option when other opportunities close their doors.
Bad Credit Score
Some people fall into a bad credit score category due to unavoidable circumstances. Any individual who has not been able to pay loan installments on time stands the risk of having this score damaged. However, this could have been due to a sudden job loss or illness, thus no fault of the borrower.
Most financial institutions will not give guaranteed approval loans to such individuals because they were defaulters in the past and now unreliable borrowers. Despite this, the payday loan lenders come forward and offer quick and instant cash loans on the same day or next business day, with no credit check.
No Checking Account
To get a loan, one of the main prerequisites is providing a checking bank account. If you don’t have one, most banks will refuse a loan, but a payday lender will still approve if you can provide a savings bank account instead, with no credit check involved.
No Savings Account
There may be borrowers who not only don’t have a checking account but also lack a savings account—for example, young adults who have just started their new job and have no bank account yet. While the conventional banks will refuse a guaranteed loan approval to such people due to no credit score, a direct payday lender will still approve if they can repay from the next paycheck. A direct payday lender may pay the money in cash or as a credit card advance.
Individuals who are not employed have no chance of a cash advance from traditional banks, but direct lenders may still consider them for credit approval. If someone has a social security payment, veteran benefits, pension, job offer, or scholarship, he may even get a guaranteed loan, no credit check.
How to Find Guaranteed Payday Loans for Bad Credit
Despite direct lenders offering a higher chance of getting a payday loan, it is still not guaranteed. So, you still stand a chance of getting your application rejected due to various reasons. The lender has all rights reserved to use their discretion and approve only as much as they think the borrower can payback.
Here are some steps you need to follow to improve your chances of getting a quick loan.
- Use your mobile phone and Internet to search for the best payday loan lenders in your location.
- Visit the lenders’ website to check the company info, contact details, and read customer reviews.
- Shortlist the payday businesses based on the above parameters and fill out all of them’ online application.
- You will need to provide a few details such as your full name, age, employment proof, nationality proof, social security number, checking account, and so on.
- If you are taking a loan based on your pension or alternate income source, you will need to provide bank statements to prove credit for regular payments.
- When you apply, it is quickly review by the direct lender, and they will send you a loan agreement. Read through to see the interest rates and fees.
- When you accept the loan agreement, your account may credit on the same day or next business day, usually within 24 hours.
Why People Choose Guaranteed Payday Loans No Matter What
Many reasons explain why guaranteed payday loans have become so popular across the world. It is the most comfortable form of credit that can be applied online from any corner of the world. Plus, as the loan sites are accessible 24/7, you cannot be limited by any bank working hours.
It takes only a few minutes to apply for the loan, as there is no paperwork, no credit score checks, or extensive documentation needs. The borrower can do the entire application process and the disbursement online without meeting the bank officials.
The loan repayment is also made online from your next month’s paycheck. In case it weighs heavy on you, talks to the lender to convert it into an installment scheme.
Frequently Asked Questions
Are There Any Guaranteed Payday Loans?
Ideally, there is nothing like guaranteed payday loans no matter what, because there are several things considered before the direct lenders provide loans with no credit checks. However, the idea is that almost everyone stands a higher chance of getting approval from these types of direct lenders for payday loans because the process involves no credit checks.
Where Can I Get a $200 Loan With Bad Credit?
If you have a poor credit score, you can still get a 200 dollar loan amount offered by the direct payday loan lenders. As they do not perform any credit checks and only look into a few necessary details before giving loan approval, you can get an instant cash loan in your bank within 24 hours.
Where Can I Get a Guaranteed Loan With Bad Credit?
The bad credit payday loans lenders in your locality are the best places to request guaranteed loans and no credit checks. While there is no guarantee of getting approval, they mean that you have a much higher chance for approval than any conventional financial institutions.
Are There Any Legit Payday Loans Online?
Yes, many payday loan direct lenders are registered by the federal and state government to provide legit credit payday loans to anyone in need of quick cash online.
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