Bad Credit Loans

Apply for a payday loan online even with poor credit score. Everyone should have a second chance to get instantly approved for a bad credit cash advance with no hard credit checks.

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Online Cash Loans for Bad Credit

Bad credit loans - what are they?

Bad credit loans are unsecured loans that are granted to individuals who have a bad credit score or no credit history. These small personal loans come with high-interest rates and short repayment periods.

There are also secured bad credit loans when your lender might ask you to secure the loan by providing a collateral, usually valued remarkably higher than what you are borrowing.

Can I get a payday loan with a bad credit?

We believe that everyone deserves a second chance. The good news is that some online lenders can grant you a payday loan even when you have a truly poor credit. On the contrary, getting a loan with bad credit is complicated and often time-consuming.

It is next to impossible to get an unsecured loan such as a payday loan when you have a bad credit score and no income sources. The rule of thumb is to increase your chances by approaching as many direct bad lenders as you can, and 27 Cash Advance can do this for you.

Can I get a bad credit loan with guaranteed approval?

Unfortunately, no. Every lender has some sort of application validation process at hand and only selected applicants who can prove, that they can afford the loan, get approved for a bad credit payday loan.

You can still apply for a loan when you have bad credit, but no lender can guarantee you that you will get approved.

How can I get a bad credit loan?

You can easily apply for a bad credit loan at the comfort of your couch - usually through your lender's website or directly from 27 Cash Advance.

  1. You must meet some requirements and make sure you have all the documents, including a bank account, proof of income, and a government-issued ID.
  2. You must fill a form that requires you to provide personal information, contact details, how much you want to borrow, and prove your income.
  3. After you apply online, you are usually pre-approved. Depending on the time, your lender will call you and discuss your loan, and within the conclusion, your bad credit loan will be granted.

Secured Vs. unsecured loans for people with poor credit.

Secured loans

A secured loan is a bad credit loan that is backed by collateral. Collateral or deposit is usually used as repayment when the borrower has failed, refused, or cannot repay the loan. It can be any valuable asset you possess. For example, car loans and some credit card issuers will need you to secure your loan when you have bad credit.

How can I use bad credit secured loans?

You can take secured loans to build your credit, purchase a car or a home or make other planned high-cost purchases.

When you take a secured loan, your lender has to put a lien on the collateral. Once you repay your loan, the lien is removed, and your collateral is refunded to the maximum amount, or you own it outright.

Unsecured loans

On the other hand, you won't require collateral for an unsecured loan. Even though it is difficult to get a bad credit unsecured loan, there are cases where the lender grants unsecured loans to borrowers with bad credit. A good example of unsecured loans is student loans and personal loans. Unsecured loans may have remarkably high-interest rates. Direct lenders base the qualification of unsecured loans on factors like credit score, debt repayment history, and on-time bill payments.

How can I use bad credit unsecured loans?

Bad credit unsecured loans can be taken for any purpose. The lender doesn't restrict the use of your funds for a specific purpose, so you can renovate your home, plan a vacation, or pay for your wedding with this type of loan.

Secured loans are often viewed as riskier than unsecured loans because your assets can be seized when you cannot repay your loan.

Can I get a loan with bad credit if I am unemployed?

Maybe. Unemployment does not necessarily mean lack of income, and bad credit does not necessarily mean that you will be denied a loan. Even with bad credit, lenders like to see some sort of income to grant you a loan.

A source of income proves to the lender that you have a legitimate source of money that can be used to repay your loan making the lender inclined to grant you a loan.

Why is a credit score important?

People often wonder, why does my credit score matter? Why do I need a good or excellent credit score? With a good credit score, it is evident that you are good with your finances. Other than that, here are several reasons why a credit score is essential:

Credit/loan application

Your credit score can significantly impact when you apply for a credit card, a line of credit, or a loan. A good or bad credit score is also used to determine your interest rates when you apply for loans or credit cards. Technically, with every factor constant, the higher your credit score, the lower your interest rate will be.

Rental application

Whereas rental companies ask and check for references, other rental companies go to the extent to request access to your credit report. Your lack might be as good or bad as your credit score. This check is done to make sure you have a record of paying bills on time.

When you want to refinance

Good to excellent credit scores play a significant role in looking for better rates than what your lender was initially offering. In cases where your credit score has significantly improved from the first time you took the loan, you may meet the criteria for better rates.

How to improve my credit score.?

A lower credit score can always get better. Various resources can help you improve your credit score, but first, it calls for your commitment, effort, and consistency throughout the whole process. Here are two ways to build your credit:

Get a secured credit card

This is the best way to rebuild and improve your credit. These cards don't come with a higher limit, so make sure to pay your credit card balance on time. When you make continuous repayment a habit, your credit score will start to go up.

Reduce your credit card utilization ratio

This ratio is determined by dividing the credit amount you have access to by the amount you are using. Let us break it down. For example, if you are charged $1,000 to your credit cards, and your credit limit is $5,000, your 20% will be your utilization.

What are the alternatives to bad credit loans?

Here are some alternative to bad credit loans:

Debt consolidation

If you cannot handle your continuous debts, it is a good idea to seek debt management programs as an alternative. Consolidating your debt merges all your debt repayments into one payment.

It is an excellent long-term option when you have difficulties repaying your debts, and you want a loan, and you've been denied due to bad credit.


Acquiring an overdraft is another alternative to bad credit loans. Even though there is still an application process, it is always easy to get. Depending on your bank, you can pay a monthly overdraft fee, or you can pay as you go, which means you will be charged every time you use your overdraft funds.

Secured credit card

Even though these cards come with a low credit limit, they are an excellent alternative to bad credit loans. The upside is that secured credit cards can help you rebuild your credit score over time.

How to spot bad credit loan scams?

When you see lenders offering guaranteed loans without approval or low advertising and prepayments, that's a red flag. Scammers work hard to take advantage of people in need that work hard to make a legitimate living, so make sure you learn more about loan approval precautions. Phone calls that request for your SSN or credit card details over the phone are a good sign to spot a scam.