Payday Loans Online: Where to Get One with No Credit Check?
An instant approval payday loan or an instant cash advance online can be a viable option if you are facing a temporary shortage of cash and your bills are piling up with all the deadlines already past due.
A payday loan even with no hard credit check is by no means the best option when you need money, but sometimes the consequences of missed payments and risks of expensive penalties force you to rely on instant approval payday loans as a last resort.
If you are sure that you can handle short-term cash loans and high interest rates, then read these tips on how to find a reliable online payday loan that offers instant approval and will not damage your credit score with hard credit checks.
What does "No Credit Check" Loan Mean?
Most traditional payday loan lenders do some sort of credit check, some of them use popular credit score bureaus such as TransUnion, Equifax, and Experian. When making a hard inquiry with any of these agencies your credit score will lose some points. Every direct lender that offers unsecured instant loans such as payday loans has to perform some sort of background check on you.
Most of our lenders rely only on soft credit checks that will not damage your credit score, so you can call the loans provided by such lenders "no credit check" payday loans.
Is "Instant Approval" the Same as "Instant Decision"?
An instant approval loan means that you get a positive decision immediately after sending your application. This can be the case when you apply at the lender's physical store and have all the required documents on hand.
When applying for a payday loan online it is not possible to get instant approval in a traditional sense. This is why instant approval online loan actually means the immediate decision whether you are pre-qualified for a loan or not.
This doesn't mean that you are automatically approved, but you have successfully passed the first phase of qualification, then your application must be reviewed by the lender, and only then you may get approval. Typically, with 67CashToday you get instant pre-qualification approval and final approval during the same day.
How to Get a No Hard Credit Check Loan with Instant Approval?
Not every lender can offer instant payday loan approval. These lenders that offer immediate approvals still cannot guarantee that you will get a payday loan at all. Keeping this in mind, you can increase your chances of being instantly approved for a no credit check loan by following these guidelines:
Are You Eligible?
Before applying for a loan make sure that you meet the eligibility criteria that can vary depending on your state and lender:
- You are at least 18 y.o. or older
- You are employed, or if unemployed, you have a stable income source
- You have a valid photo ID, email address, and a phone number
- You have an active checking account
Submit Your Loan Application
You can submit your payday loan application online or in-store. In-store submissions take more time and limit your choice of lenders remarkably. Whereas online applications take less time, are more convenient, and safer during the COVID-19 pandemic.
The more lenders you can reach with your request, the higher are your chances of getting a so-called instant approval payday loan with no hard credit check. 67CashToday offers a simple and fast loan-matching service to all US residents that is also free of charge.