Bad Credit Loans with Guaranteed Approval

You must be at least 18 years old.

You must be a US citizen or permanent resident with a valid Social Security number or equivalent tax ID.

You must earn enough monthly income to repay the loan. Each lending service sets its own minimum monthly income requirement, which may begin as low as $500. 

You need an active checking account in your name.

You need a working phone number and email address.

How it works. Payday loans are short-term loans, typically for small amounts, that can be obtained online or in physical locations. They are usually approved and funded on the same day, with repayment due on the borrower’s next payday, typically within two weeks.

Loan amount. Payday loans usually range from $100 to $1,500, depending on the lender and the borrower’s qualifications.

Costs. Payday loans are expensive, with fees ranging from $10 to $30 per $100 borrowed. The APR can be extremely high, sometimes reaching 400% to 800%, depending on the lender and local regulations.

Why it’s almost guaranteed. Payday loans are "almost guaranteed" because lenders don't focus on your credit score. They instead verify income and identity, making them accessible to many people, even those with poor credit histories.

Requirements. To qualify for a payday loan, you generally need to have a stable income (at least $1,000 per month), an active bank account, and minimal existing debt. Some lenders may also require proof of identity and an email address.

How it works. Title loans use your car, motorcycle, boat, or RV as collateral for a loan. You must own the vehicle outright and have a lien-free title. These loans are typically quick, with approval and funding happening on the same day, and repayment terms usually last 30 days, though this can vary by lender.

Loan amount. You can borrow 25% to 50% of your vehicle’s value, depending on the lender’s terms and the condition of the vehicle.

Costs. Title loans often come with very high interest rates, with APRs reaching up to 300%, though this can vary by state and lender.

Why it’s almost guaranteed. Title loans generally do not require a credit check, making it easy for most car owners to qualify, as long as they have a car in their name and an income source. However, it’s not a complete guarantee, as having a lien-free title and proof of income is still necessary.

Requirements. To qualify for a title loan, you must own a car that’s fully paid off, be employed or have a reliable income source, and have an active ID. The car must be in good condition and meet the lender’s specifications for value.

How it works. Pawnshop loans allow you to use valuable items like jewelry, electronics, or other valuables as collateral to secure a loan. The pawnshop will hold the item and lend you a portion of its value, typically ranging from 25% to 60%. To retrieve your item, you must repay the loan plus interest and fees within the loan term.

Loan amount. The loan amount you can receive is based on the value of your collateral, with pawnshops typically offering between 25% and 60% of the item’s appraised worth.

Costs. The cost of pawnshop loans varies by state but can include high interest rates and additional fees. For example, in Pennsylvania, interest is capped at 6% annually, but fees can add up to 2.5% per month on the unpaid balance. In other states, the costs can be higher.

Why it’s almost guaranteed. Pawnshop loans are typically easier to obtain because they are secured by collateral, so credit checks are usually not required. As long as you have valuable items to offer, approval is almost guaranteed, but the loan amount depends on the appraisal of your items.

Requirements. To qualify for a pawnshop loan, you need to provide valuable items as collateral. The items must have a significant market value, and you will need to repay the loan in full within 30 days or extend it for an additional fee. Failure to repay can result in the pawnshop selling the items to recover the loan amount.

How it works. Installment loans are offered by many online lenders and are repaid in fixed monthly payments over a set period. They typically involve smaller amounts, shorter terms, and higher interest rates compared to traditional personal loans.

Loan amount. You can borrow up to $5,000 with an installment loan, depending on the lender and your creditworthiness.

Costs. The cost of installment loans can be very high, with interest rates potentially reaching up to 500%, depending on the lender. The exact rates vary and can lead to substantial repayments, especially for larger loans.

Why it’s almost guaranteed. Installment loans have lenient credit requirements, making them accessible to people with bad credit. While most lenders perform a hard credit check, they often target borrowers with poor credit to maximize their profits. If you’re seeking a small loan amount (typically under $500), your chances of approval are higher, as long as you meet the minimum criteria.

Requirements. To improve your chances of approval, you should have a steady income source, an active bank account with a positive balance, direct deposit for your paycheck, and no recent bankruptcies.

How it works. Cash advance apps offer short-term advances up to $1,000 (though most are around $500), to individuals with a steady income and an active bank account. You request an advance, and the repayment is automatically deducted when your next paycheck arrives. Transfers can take a few days, but expedited options are available for a fee.

Loan amount. You can borrow up to $1,000 with cash advance apps, but the majority of providers cap the amount at $750.

Costs. Cash advances from these apps generally do not charge interest. However, you may have to pay a monthly subscription fee of up to $20, and fees may apply for expedited transfers.

Why it’s almost guaranteed. Cash advance apps typically don’t check your credit score, making it easy for almost anyone with a job or regular deposits to qualify. As long as you have an active bank account, getting approved is highly likely.

Requirements. To increase your chances of approval, you need to have a steady income, an active bank account that is at least 90 days old with a positive balance, direct deposit for your paycheck, and be prepared to pay a monthly membership fee.