You can get a loan with no credit or no credit history from several types of lenders and loan products, though options may be more limited and often come with higher interest rates. Here are some places and options to consider:
- Oportun offers personal loans specifically designed for people with no credit history, with affordable fixed payments and a prequalification process that doesn't affect your credit score
- MaxLend provides alternative payday and short-term installment loans for people with no credit, bad credit, or good credit, with a focus on installment repayment plans
- OneMain Financial offers personal loans to borrowers with no credit history by considering your overall financial picture, sometimes requiring collateral like a vehicle for secured loans. They also allow cosigned loans to improve approval chances
- Upstart is an online lending platform that uses AI to evaluate applicants beyond credit scores, approving some borrowers with no credit or bad credit. They require a minimum income and employment but may approve college students or graduates with no credit
- King of Kash provides personal installment loans with no traditional credit check, focusing on your ability to repay rather than credit history. They offer quick approval and no collateral requirements
- Same-day payday loans with no credit check are available from some online lenders, but these often come with very high fees and interest rates and should be approached cautiously
Important considerations:
- True "no credit check" loans are rare and sometimes misleading. Most lenders perform at least a soft credit pull or check your income and bank statements to assess risk
- Loans without credit checks tend to have very high annual percentage rates (APRs), sometimes triple-digit, and short repayment terms which can be difficult to manage, potentially leading to debt cycles
- Secured loans or loans with a cosigner can improve your chances of approval if you have no credit but involve risks like losing collateral or impacting someone else's credit
- Always research lenders carefully to avoid scams and predatory lending practices, and understand the full cost and repayment terms before accepting any loan
In summary, you can get a loan with no credit from specialized lenders like Oportun, OneMain Financial, Upstart, MaxLend, or King of Kash, but expect higher costs and stricter repayment terms. Consider secured loans or cosigners to improve approval chances and always plan your repayment carefully to avoid financial trouble
