Online Payday Loans With Guaranteed Approval for Bad Credit. Do They Exist?

Sometimes the salary you make isn’t enough to cover your expenses for the month. Even if you’ve factored in your predetermined spending needs, unexpected occurrences could give rise to the need for additional cash. You’ve probably considered trying to get a loan, but your lousy credit gets in the way. While you can’t get guaranteed payday loans, what if your financial history was less of a factor?

Are there Accessible Guaranteed Payday Loans for Bad Credit?

Since credit checks are synonymous with the loan application process, many people are under the impression that those with bad credit can’t access loans. People who have credit scores that are below average don’t even try to apply sometimes. The truth is that there are no guaranteed payday loans for bad credit situations. However, some lenders are willing to give you that financial boost regardless of your less than stellar credit history. Finding them can present a challenge based on how you apply and the type of loan provider that you decide to go with.

Since There Are No Guaranteed Payday Loans from Direct Lenders, What Are My Options Now?

This concern comes from a myth that must be dispelled. Unfortunately, many people are only aware of the direct lender approach to acquiring payday loans. While you can obtain a loan from direct lenders, you may want to consider involving matching services into your loan search.

A direct lender is one that provides a loan and handles the application process in-house. In other words, there is no need for you to interact with any intermediary as you try to get approved. This principle applies whether the lender offers a walk-in service or an online one. The process is simple. You begin by completing the stipulated application process, after which a review is completed. Upon successful execution of said review, your loan is approved, and the funds are provided to you based on the agreement. The issue with going this route pops up where unsuccessful attempts are concerned. Though some of these lenders may value and consider other information apart from your credit score, you cannot rule out the possibility of being denied.

Upon denial, the time that you spent completing the application process has no merit in regard to your next attempt at securing a loan. Therefore, if you should continue trying to get your payday loan via the direct lender method, it can be time-consuming. Imagine if you had seven unsuccessful attempts before you were finally successful. You would need to go through the process of making eight different applications before you get the payday loan you are looking for. 

If you opt for a matching service, however, things could become exponentially easier. The way that matching services work is the reason that you are so much more likely to secure payday loans both online and offline. These payday loans aren’t guaranteed, but the chance of success is much higher than the direct route. The process begins with your submission of an application just the same. This information is submitted to the matching service, which plays the role of an intermediary. To this end, the service provider uses its access to a pool of verified lenders to secure a loan on your behalf. If the first lender does not approve your request, the matching service then applies to others in turn until preapproval has taken place. Note that a preapproval does not mean the loan process is complete. It is merely a statement from a lender that it is willing to grant you a loan under established conditions.

Once the matching service has secured the preapproval for you, you are then directed to the lender’s website, which facilitates the finalizing of the loan procedure. Not only is this workflow highly beneficial where time and effort are concerned, it is also a very secure process since the service provider vets and only works with reputable and established lenders.  

Do Lenders Offer Guaranteed Payday Loans with No Credit Check?

This question is crucial to those who either have bad credit or want to spare their credit scores from being impacted by a credit check. In most loan situations, a part of the application review process consists of a credit history check, which pulls data from an accredited credit bureau. In this case, a hard credit check is what is done, which lowers your score. While that figure is low, it can make the difference between an average credit score and a bad one. Thankfully, payday loan lenders are unlikely to run a hard credit check.

Guaranteed payday loans with no credit check don’t exist. However, that doesn’t mean a credit check must be a significant factor. What goes on behind the scenes may be different from what you think. There are some lenders who exclusively use other factors, such as your employment status and salary, in lieu of your credit score, and there are others who do a soft credit check which provides the information they need without having an impact on your score. Note that this may be for nothing more than record purposes, which means it is not necessarily a factor in determining your approval status. 

Is It Possible to Secure Guaranteed Approval for Payday Loans Granted the Same Day?

Fortunately, payday loans fall into an unsecured loan category that is conducive to quick approval. Many other loan types have review processes that can run for days or weeks before you have any inclination of your success or failure at acquiring them.

Both offline and online applications can be handled very quickly, but online ones are known to be much faster. There is no wholly guaranteed approval for payday loans on the same day that you apply. Still, if you complete the required application process, you can have your confirmation or denial in very short order.

Some lenders advertise payday loan offerings that are specifically designed for people who are looking for quick turnaround times. 

What to Do Since You Can’t Secure a Guaranteed Payday Loan?

You may not be able to access guaranteed payday loans, but that doesn’t mean that there aren’t options available to you. There are many online lenders that are willing to give you a payday loan and all you need to do is find one. It is true that a bad credit score can make this a chore, but just stay the course, and you are likely to get approval eventually. If that sounds like a daunting task, then you could try using our matching service instead. By filling out the form at the top of the page, we can get the ball rolling for you, which means you could be matched with a lender in the shortest possible amount of time.