Bad Credit Loans
Don’t Let Your Score Hold You BackBad Credit Loans In
Bad Credit Loans $50 to $5,000
Applying won't impact your credit score
Approval in as fast as 15 Mins
All Credit Welcome
Get 3 Times More Cash
Same Day Cash $100-$50,000
What is a Bad Credit Loan?
Your credit score is essential, but a bad score can't stop you from getting a loan, at least at CASH 1. We offer Bad Credit Loans, loans for people with low credit scores. With both secured and unsecured options, these bad credit personal loans can help you get up to $50,000 in as little as 15 minutes. That's right! Our loans can be that quick and easy. You can apply for a CASH 1 bad credit loan online, over the phone, or from any one of our brick and mortar stores.
Various scoring models can help you find out whether you have a bad score or not. The FICO scoring model with credit scores ranging from 300 to 850 defines a score less than 580 as poor or bad. Scores between 580 and 669 are considered fair, whereas scores between 670 and 739 fall under the good credit range. If your FICO score ranges between 740 to 799, you have a very good credit score, and an 800 to 850 score is considered excellent. Although bad credit loans are a suitable financing solution for those with a poor or fair credit score, anyone having the ability to repay can use them to cover unexpected costs.
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Factors To Consider When Applying For a Bad Credit Loan
There isn't a one-size-fits-all loan provider for everyone. Below are a few factors to determine when applying for a bad credit loan:
Eligibility
Just like every other loan, the requirements of a bad credit loan vary from lender to lender and state to state. If you choose CASH 1, our minimal loan requirements will help you quickly get approved for a loan.
Interest Rates
Also known as the cost of the loan, APRs play a crucial role in choosing a loan, especially when you have a low credit score. You can refer to our Rates & Terms page to get state-wise information on different loans that we provide.
Repayment Terms
Longer repayment terms mean lower monthly payments, and shorter repayment terms could probably mean larger monthly payments that can quickly help you get out of debt. In other words, a flexible repayment plan can help you customize your loan based on your budget.
Type of Lender
Not all lenders are willing to provide personal loans to people with bad credit. Going to a bank with a bad score may not even help you. Fortunately, some online direct lenders offer loans at reasonable terms to those with bad credit or no credit.
Loan Amounts
Keeping in mind your short-term and long-term cash needs, CASH 1 offers bad credit loans up to $5,000 without collateral and up to $50,000 using your vehicle title as collateral. These loan amounts help you borrow precisely how much you need.
Fees
You may have to pay fees while borrowing, called origination fees, and while settling your loan early, which are prepayment penalties. To avoid unwelcome surprises, always check if your lender charges such fees before signing the loan agreement.
Time To Receive Loan
It's essential to know how and when your loan will be disbursed. Bad credit loans online can be a good option when you need cash in an emergency. You can apply, get approved, and get cash online on the same day.
Allows Co-Signer
Usually, a co-signer having a relatively good credit score or income could improve your chances of getting approved for a loan. If a lender gives you an option, you can use a co-signer to qualify for a loan even when you have a bad credit score.
How to Apply for a Personal Loan if You Have Bad Credit
Here are the steps to apply for a bad credit loan:
Check your credit report:
Also known as the cost of the loan, APRs play a crucial role in choosing a loan, especially when you have a low credit score. You can refer to our Rates & Terms page to get state-wise information on different loans that we provide.
Examine your budget:
Longer repayment terms mean lower monthly payments, and shorter repayment terms could probably mean larger monthly payments that can quickly help you get out of debt. In other words, a flexible repayment plan can help you customize your loan based on your budget.
Pre-qualify:
Pre-qualifying allows you to compare loan rates, amounts, and terms from various online lenders. A soft credit check is used in this process, which does not affect your credit score.
Consider a secured or co-signed loan:
Keeping in mind your short-term and long-term cash needs, CASH 1 offers bad credit loans up to $5,000 without collateral and up to $50,000 using your vehicle title as collateral. These loan amounts help you borrow precisely how much you need.
Prepare your documents:
You may have to pay fees while borrowing, called origination fees, and while settling your loan early, which are prepayment penalties. To avoid unwelcome surprises, always check if your lender charges such fees before signing the loan agreement.
Apply:
It's essential to know how and when your loan will be disbursed. Bad credit loans online can be a good option when you need cash in an emergency. You can apply, get approved, and get cash online on the same day.
How Do Bad Credit Loans Work?
Apply Online
Get Approved
Get Your Cash