No Credit Check Loans: What You Need to Know

If you have bad credit, getting a loan can feel almost impossible. No credit check loans can help. 

What Is a No Credit Check Loan?

A no credit check loan is pretty simple in concept – it’s a loan that doesn’t require the lender to pull your credit history to qualify. Sometimes you could use your income or an asset such as your car as collateral for the loan. 

What Your Credit Score Means

Your credit score can range from 300 – 850, with 300 being the worst and 850 being a perfect score. The ranges that get you the best interest rates or loan options are a little fuzzy, but as a general guideline, you can use the following: 

720+ Excellent 690 – 719 Good  630 – 689 Fair  <630 Poor  

How to Check Your Credit Score for Free

You are legally entitled to get a free copy of your credit report once a year from each of the three major credit bureaus (Transunion, Equifax, and Experian). You can do this easily online at https://www.annualcreditreport.com. 

How To Improve Your Credit Score

Here are some tips:  Don’t close a credit card account. When you have a credit card, it’s still better for you to stop using it rather than close the account. Don’t close a credit card account. When you have a credit card, it’s still better for you to stop using it rather than close the account. 

What If I Have Bad Credit?

If you do have a bad credit score (generally below 630 out of 850), there are still some relatively simple things you can do to raise your credit score, such as: – Dispute any errors you find on your credit report – Pay off small balance loans – Keep your credit balance as a percentage of total available credit low – Limit new credit inquiries

No Credit Check Loan Options

Here are some of the most common loan options if you have bad credit and can’t get funding from a traditional bank. Payday Loans Pawn Shop Loans Title Loans Loans from Relatives or Friends Asset-Based Loans

Alternatives to No Credit Check Loans

If you have bad credit and still need access to funds, here are some alternatives that may allow you to borrow at more favorable terms without predatory interest rates and fees. Credit Union Payday Alternative Loans Home Equity Loans Get a Co-Signer Credit Cards Make Extra Money

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