Payday Loans No Hard Credit Check
Where to Find Payday Loans With No Credit Check From Traditional Bureaus?
Financial emergencies, no matter how big or how small, are daunting. They can leave you feeling hopeless or overwhelmed. However, there are options that can not only overcome the current challenge you're facing, but help you plan a healthier financial future for your household.
Loans that have applications without hard inquiries from traditional credit bureaus are called “No Credit Check Payday Loans.” These no hard credit check payday loans can not only help meet financial needs, but they can do so without hurting your credit score.
LendUP.com can help you find a direct online lender that offers these payday loans with no credit checks from traditional bureaus.
With the advantage of no hard credit check payday loans, those financial burdens that seemed too large to overcome can be brought down to a manageable size.
What are No Hard Credit Check Payday Loans?
For those not familiar with loans, or how the traditional credit bureaus may affect them, using one as a solution can feel just as overwhelming as the financial problems you're facing. Let's break down exactly what these loans are and how they can be useful.
Payday loans allow you to borrow small amounts of money at a time, usually in the case of an emergency. If a car breaks down, or a medical tragedy comes into your life out of nowhere, payday loans are a quick access to solving the problem.
Usually, a payday loan has to be paid back pretty quickly. It acts only as a bandaid solution to a bigger issue. The payday loan should be paid back within a few weeks, because the lender of the payday loan is allowing time for you to receive your next paycheck.
Types of Credit Checks
Some lenders will advertise “No Credit Check Payday Loans”. It sounds like the lender will not perform any credit checks, but that isn't always the case.
Usually, the “no credit check” part of the loan actually means that the lender will perform a basic check that might include credit ratings. It may also include the borrower's financial history, looking at sources outside TransUnion, Equifax, and Experian.
Luckily for you, these basic or “soft” checks are only visible to you: they will not cause your credit score to lower. A hard check with a traditional credit bureau, like the ones performed by a bank, are the kind that can lower your credit score.
LendUP.com can match you with a lender that offers payday loans with no credit check hard inquiries from a traditional credit bureau.
How do No Hard Credit Check Loans Work?
With most no credit check payday loans, you go to the lender's location, fill out an application and wait for your money. The lender may ask for proof of income. Proof of income requires either a bank statement or a paycheck stub, which can be acquired from your place of work.
The reason for this is because the usual borrowers of payday loans are interested in the ability the loan gives them to get cash fast. Of course, they still have to pay interest on the loan, but they prefer to give extra money to the lender than pay for late fees on household utilities, or credit cars, or other bills.
LendUP.com, on the other hand, offers an alternative to the usual payday lending process. Firstly, you do not have to visit in person to get the money. You can fill a loan request form at LendUP.com and we will pass this information to our selected direct online lenders in a matter of minutes.
What Kind of Payday Loan Alternatives Can I Get with LendUP.com?
If you're interested in a payday loan alternative with no hard credit check inquiry from a traditional credit bureau, then you will probably want to get a short-term installment loan.
A personal installment loan allows proven borrows to borrow up to five thousand dollars ($5,000) and they can repay this in monthly installments instead of in a single lump-sum.
This is not the same as a no hard credit check payday poan, but it is an option that may fit customers in certain states better. LendUP.com offers advantages over most of traditional direct payday lenders.
When you're looking for an alternative to traditional short-term loans, LendUP.com is the way to go for you. LendUP.com is partnered with direct loan lenders who try to avoid performing hard credit checks on payday loan applications.
The benefit of applying for a loan online is that it's not necessary to go to the lender's store, so you can submit your application from anywhere and save time by borrowing online.