Best Bad Credit Loans 2022: Top 5 Online Lenders Offering Cash Loans & Mortgage Loans With Bad Credit

We are not reviewing actual lenders; we are offering something even better, a middle man that might save you from all the trouble of filling a lot of paperwork or waiting in lines.

The bad credit loans with guaranteed approvals platforms we singled out for you have lower requirements than traditional lenders, connecting you with many partner lenders at once. You might get a proposal in just minutes!

If you feel this can work for you, check out the brands and get more information on how to avoid scams and create a better financial situation for yourself!

5 Best Bad Credit Loans With Guaranteed Approval:

  1. Money Mutual – Overall Best Lending Platform Offering Bad Credit Loans, Editor’s Pick
  2. Bad Credit Loans – Instant Approval Of Bad Credit Loans With Good Credit Score
  3. RadCred – Trusted Lenders Offering Emergency Loans With Fast Cash
  4. CashUSA – Reliable Online Portal Offering Short Term Loans For Bad Credit
  5. Personal Loans – Popular Personal Loans For Bad Credit With No Credit Check

#1. Money Mutual – Overall Best Lending Platform Offering Bad Credit Loans, Editor’s Pick


The first brand we find relevant to bring to your attention is Money Mutual. This brand is the overall best in its field. With Money Mutual, you can get secured and unsecured loans. Each lender offers different loan amounts, interest rates, and fees.

This brand is reliable, and proof of that is that it is TRUSTe verified, secured by 2048-BIT RSA, and is an OLA and CFEF member.

The downside is that you must have proof of at least $800 monthly income to receive a loan. The good thing is that the source of income can be not just from a regular job; it can also be from child support, alimony, a pension or annuity, disability, social security, or dividends.

* Just to note here, the same goes for the other brands when referring to a source of income.


  • You can borrow amounts ranging from $500-$2000.
  • Unfortunately, there is no information on their website about their APRs and the time frame for returning the debt. They kindly share that the reason is that each lender is different, and they can’t share that information with you before applying. However, you will get that information from the lender once a lender decides to work with you.
Eligibility requirements
  • You can not obtain a loan if you haven’t accomplished the legally stated adulthood age.
  • You must have a regular source of income ( $800 and more) and proof of receiving it.
  • You must have a bank account where they will deposit your borrowings.

Other requirements may vary depending on the lender choosing to work with you.


  • It takes around five minutes to fill out the form.
  • Money Mutual does not charge you for applying (the lender pays them for their services)
  • The lender may deposit the money in as little as 24h.
  • After applying, lenders will approach you, which is time-saving and efficient.
  • You have the right to refuse offers and choose your lender preference.

*We advise you not to hurry your decision and wait for at least a day to receive applications, compare APRs and fees and then decide on the most convenient one for your financial situation.

  • You can use the funds for whatever you want.


  • You don’t choose which lender sees your application.
  • They ask for a checking account before being connected with a lender; also, you need to provide your employer’s phone number (so they can verify that you work there), which you may find inconvenient.

Customer experience

Some customers didn’t like that they got a lot of emails for loan offers. But isn’t that the point? Getting as many offers as possible to make a better decision?

On the other hand, there are reviews which state that they are very strict and are suitable only for small loans, with which we must agree.

Here is one full customer review:

“I’ve been applying for loans online for years and never got one. I was referred to Money Mutual by a friend and decided I’d give it a try. It’s been less than two weeks since I signed up, and I already have a loan from them! They were easy to work with and explained everything step by step.” Marissa Fletcher.

⇒ Visit the Official Website of MoneyMutual

#2. Bad Credit Loans – Instant Approval Of Bad Credit Loans With Good Credit Score


The second brand that offers excellent conditions for you and is a reliable source and a good brand to choose for your borrowing endeavors is Bad Credit Loans. This brand is operated by Chief LLC, which adds to its credibility.

BadCreditLoans, as their name states, was created exclusively for those with bad credit who are being turned down for loans from other sources. The business offers its clients a free service connecting them to reputable industry lenders. The majority of the lenders that this site suggests do not demand a complete credit check to approve you.

BadCreditLoan is committed to assisting people looking for loans in the market, and is highly recommended by theislandnow. As a result, they have a section of supplementary information under “Scam Alerts” on their website. They present you with multiple scam situations and might help you avoid different types of scams.


  • You can borrow amounts up to $10.000
  • A personal loan from their network often ranges between 5.99% and 35.99%. Although APRs vary according to the information from your loan request.
  • Loan products generally have a 90-day – 72-month (6-year) repayment term.

* Please note that every lender will not offer these rates.

Eligibility requirements
  • Be an adult according to the legal age.
  • Provide proof of citizenship through a Social Security number, or it can be through legal residency.
  • Have a regular income
  • Have a checking account
  • Have work and home telephone numbers.
  • Provide a valid email address


  • They’re available 24 hours a day, 7 days a week.
  • If they can’t find you a lender in their network of lenders, they will show your loan inquiry to their extended network of third-party non-lender lender networks to help you find a lender in one of their networks.
  • Their services are free to use
  • Open and honest with its clients
  • Different free services
  • The platform enables interest rates from several lenders to be compared.


  • By applying, you agree to receive marketing communications for loans and other credit-related products like debt relief, banking, credit repair, and credit monitoring.

Customer experience

Although there aren’t many reviews, the ones we found are overwhelmingly positive. Here is what some of the customers shared:

“I am thrilled with the service I received from Bad Credit Loans, especially because I was able to get a loan for the amount that I needed and for the amount of time I needed it. I will recommend this company to others.” – Michael, TN.

“I could get a loan from Bad Credit Loans in less than 24 hours. It took them only two days to process my application, and they could give me the money I needed as soon as possible.” – David, OH.

⇒ Visit the Official Website of Bad Credit Loans

#3. RadCred – Trusted Lenders Offering Emergency Loans With Fast Cash


Rad Cred is a well-known loan marketplace among companies for bad credit loans with guaranteed approvals. They are among the most reliable sources of immediate cash and have been around for a while. Millions of customers have used their services worldwide!

People know the value of having a go-to location for quick cash loans. But credit ratings usually serve as a roadblock between debtors and conventional lenders. Most Americans who are in debt find solace in RadCred.

Some lenders provide flexible repayment terms, so if you need to extend the deadline for a few days, you can simply speak with your lending partner. They might concur, and you may preserve your credit rating.

Just like Money Mutual, they are TRUSTe verified, secured by 2048-BIT RSA; they are an OLA and CFEF member.


Unfortunately, there is no information on their website about their loan amounts, APRs, and time frame for returning the debt. However, just like with Money Mutual, you will get that information from the lender once a lender decides to work with you.

Eligibility requirements
  • Eighteen years old is the minimum age.
  • You must be an American citizen or legal resident.
  • You must have a reliable income source.
  • You must provide both a working phone and work phone numbers.
  • You need a working email address.
  • A functioning checking account is required.


  • You don’t pay for their services.
  • All provided personal data is shielded against unauthorized disclosure.
  • They provide many kinds of personal loans, such as cash advances.
  • Local and tribal lenders are a part of their extensive network of lenders.
  • The loan application process with RadCred is simple and fast.
  • Even if you have poor credit, you can still apply.


  • Rad Cred doesn’t offer anticipated APRs because it is a middleman.
  • Rad Cred is a new platform in the sector; therefore, there aren’t many reviews.

Customer experience

Overall, customers are delighted. One customer shared: “Rad Cred is a good lending place, and the customer experience was fabulous. I got approved for my loan without problems, and the process was fast and painless.

I have had bad credit in the past, but Rad Cred made it so easy to get approved and start the repair process. They quickly responded to questions or concerns and made me feel like they cared about my situation.

If you are looking for a reliable lender to help you get out of debt, look no further than Rad Cred!”- Jessica Fernandes.

⇒ Visit the Official Website of Rad Cred

#4. CashUSA – Reliable Online Portal Offering Short Term Loans For Bad Credit


CashUSA is another considerable option if you are looking for bad credit loans with guaranteed approvals. You, as a borrower, are likely to find the ideal match thanks to a sizable network of lenders and other third-party networks. Additionally, the platform offers a quick, easy, and safe service to assist you in locating the most acceptable personal loan for your needs.

State and tribal lenders might be found among CashUSA’s lenders. Because they are governed by tribal and federal laws rather than state regulations, the latter’s rates are marginally higher than the former’s.

However, CashUSA lenders may still provide you with other financial products like a line of credit and others, even if you have a 0% credit score. You can still use their other services if you can’t discover the ideal financing partner.


  • With CashUSA, you can request up to $10.000
  • The APR on a personal loan from their lender network varies; several lenders provide rates of 5.99% to 35.99% and loan lengths ranging from 90 days to 72 months; however, the particulars of your loan may vary based on your qualifications. Please be aware that not all lenders may provide these rates.
Eligibility requirements
  • Age requirement of 18
  • A permanent resident or a citizen of the United States
  • Be employed for at least 90 days and have monthly earnings of at least $1,000 after taxes.
  • A checking account in your name is a requirement.
  • Require a working address


  • CashUSA offers credit monitoring, credit reports, and debt relief if you can’t connect to a lender.
  • The entire process is simple and quick if there are no problems with your information.
  • CashUSA wants you to have all the information you need to make an informed choice about personal loans. They provide instructional tools on their website, including guides and articles produced by coaches and financial experts, which may be helpful.
  • Their creditors range from local lenders to state and tribal creditors.
  • Credit ratings are not a criterion for their eligibility.


  • Higher interest rates may be charged to people with bad credit.
  • To continue with loan processing, some lenders need extra details.
  • With the application, you agree to obtain marketing materials for credit-related products such as debt relief, credit repair, banking, credit monitoring, and loans.

Customer experience

One customer shared: “CashUSA is an excellent place to get a loan. I used CashUSA to finance my home and auto purchases. The process was quick and easy, and my payments were always on time. My experience was so good that I went back to CashUSA to borrow another vehicle and got approved immediately.

I highly recommend CashUSA to anyone looking for a decent rate and hassle-free loans.” -George London.

Like George, most customers are pleased with the company’s services and recommend it to others.

⇒ Visit the Official Website of CashUSA

#5. Personal Loans – Popular Personal Loans For Bad Credit With No Credit Check


The last brand on our short list is Personal Loans. It is a business that promises to approve loans for people with bad credit. The website prioritizes giving users thorough and reliable information so they may make informed decisions. The business values its customers and provides them with excellent lending options and educational materials to help them easily apply for loans.

The core business of Personal Loans is connecting loan borrowers with lenders; however, that is not all they do. Some customers might not locate the ideal lender with the best rates after submitting loan inquiries. The business provides additional credit-related programs to achieve the most outstanding results in this situation.

Clients who feel that the available loan solutions do not meet their needs can contact the Personal Loans team. The business might promptly share all the customer-relevant alternatives. Before agreeing to a non-loan option, study the details carefully because these programs are frequently affiliated with outside businesses.


  • You can request a loan from $1,000 to $35,000
  • A maximum rate of 35.99% and a minimum APR of 5.99%. Their network of lenders offers loans with terms as long as 72 months, with a minimum of 3 months. The loan rate is determined by the requested loan amount and your credit history, usage, and score. If you offer a loan, you will have the chance to study the lender’s final offer before accepting the loan terms.

We advise you to review the terms of any loan offer you get carefully. You can contact them whenever you need assistance with any of PersonalLoans.com’s services.

Eligibility requirements
  • To be eligible for a personal loan, you must be at least 18 years old. Additionally, you must be a legitimate U.S. citizen or lawful permanent resident and possess a Social Security number.
  • You must have a regular source of income ( minimum of $2,000 per month)
  • They require a valid checking account
  • To qualify for a personal loan, a person must have accounts more than 60 days past due. It shouldn’t have active or recent bankruptcies, a history of missed payments, debts you cannot pay off with current income, or accounts that have recently been charged off.


  • Rapid approval
  • No credit check
  • You choose how you spend your funds
  • Has several financing partners across the nation
  • The increased lending ceiling of $35,000 permits comparing loan offers.


  • By applying, you agree to get marketing messages for loans and other credit-related items like credit rehabilitation, banking, debt relief, and credit monitoring.
  • Strict repayment policies

Customer experience

One customer shared here: “I value your service and the affordable APR I received. I trust personalloans.com because it’s so challenging to locate a loan business online that you can rely on. I performed my homework in advance and discovered that the form was secure and safe, and the terms were mentioned before I agreed to anything.

I am pleased with my loan and would highly suggest it to anyone, especially as it is preferable to a large bank.” – Melissa Rogers.

We selected this review to include here because we believe it accurately represents the majority of customer feedback regarding this company.

⇒ Visit the Official Website of Personal Loans

Factors to Look for When Getting a Loan If You Have a Bad Credit

  • Why choose a bad credit loan?

Let’s sum up why a bad credit loan might be a good decision:

  • Loans for bad credit are fast:

Bad credit loan applications are available online; they may take a few minutes to fill out and a few hours to get a response. You might get the money in your account within a day.

  • Lower interest rate than credit cards:

If you can get a bad credit loan, it will likely be at a lower interest rate than your credit card debt.

  • Many lenders available:

You can choose one of the lending platforms from our list or peer-to-peer lending. The number of peer-to-peer lending companies seems to double every year. If you’re patient and make lenders compete for your attention, you might find a loan with an interest rate that you can afford.

  • Repayment term length:

Depending on the lender, repayment terms may range from one to five years.

  • Boost your credit score:

If you commit to paying your bills on time, your credit score will rise, potentially making you a more appealing applicant the next time you need a loan.

What are the opposing sides of bad credit loans?

Let us not forget the disadvantages:

  • High-interest rates:

Since you pose a risk, the lender expects to be compensated.

  • Costs and sanctions:

Check the small print. Do loans have origination fees? The amount of the late fee or prepayment fee? Check carefully because some creditors may have these payment fees.

  • Collateral might be required:

You might need to risk your house or automobile to qualify for the loan. You risk losing that home or car if you don’t make payments.

  • Possibly not licensed:

Not all states need internet lenders to hold a license. Before paying for their services, ensure the company is licensed to operate in your state.

  • Debt may increase:

Budgeting is important and ensures you can afford the loans you take out. If you don’t pay on time, there might be additional fees, which may contribute to a debt increase. Call a nonprofit credit counseling organization to discuss your alternatives if you’re unsure.

  • Consider different offers before making a final choice:

You have a chance to evaluate and research the lenders you ultimately select, thanks to the competition.

What to look for in a loan if you have bad credit?

Check the lending criteria for borrowing

On a loan application, bad-credit lenders consider numerous things, so make sure you fit the eligibility requirements.

Take a look at the annual percentage rate

The interest rate plus any fees levied by the lender are included in the APR of a loan. Many online lenders for people with poor credit impose an origination fee, a portion of the loan the lender takes out before handing it to you. The lenders should include this price in the APR. Most consumer advocates agree that a reasonable loan should have an APR of 36%.

Make a monthly payment calculation

Examine your spending plan to figure out what a manageable monthly payment would be. Then, utilize a personal loan calculator to determine the rate and payback term you need to get that monthly amount.

Comparing various loan features

Compare loan aspects like financing time, whether the lender gives credit-building aid, and whether you are permitted to adjust the payment date if you have received two or more competitive offers.

How to Get Bad Credit Personal Loans?

Verify your credit rating

It’s imperative to verify your credit score online through a credit-providing website or your credit card issuer before you begin your search for the most acceptable lender. It may help you determine what you are and are not eligible for. Additionally, you should look for any errors connected to your credit score, such as a debt that is not yours.

If you can, raise your score

Take the time to raise your score if you discover it is too low before applying. Paying off unpaid obligations and lowering your credit utilization are two easy strategies to potentially repair your credit.

How to raise your credit rating?

Here are a few ways to get you started if you want to raise your credit score:

  • Obtain credit reports for yourself from the leading credit reporting agencies. It may assist you in understanding your credit situation and what must be done.
  • Make sure all of your monthly payments are at least the minimum.
  • Make a documented budget and confirm that your expenditure is under your income.
  • Start settling your debt by employing the debt snowball or debt avalanche methods.
  • Experian Boost or UltraFICO are two credit-boosting programs to consider.

Review your spending plan

Before searching for the ideal lender, assess your financial situation and determine the maximum loan amount you can afford. If you take out a too-large loan, you might struggle to make future payments and hurt your credit even more.

Get prequalified with several lenders

Some online lenders provide a prequalification method that enables you to determine your eligibility without performing a hard credit check and determine the terms you would be given if you were approved.

Specify a co-signer if required

Consider adding a co-signer if you need to strengthen your application to be given better terms. A co-signer lowers the risk you pose to the lender by pledging to repay the loan if you cannot.

Send your application in

Apply online or in-person once you’ve identified the ideal lender for your needs. Get ready to share details about yourself, including your Social Security number (SSN), home address, and income level.

Pay back your debt

It’s time to repay your loan after your lender approves and releases the funds. Setting up autopay is a specific approach to ensure you never miss a payment.

Alternatives to Loans If You Have a Bad Credit Score

Utilize your emergency fund

It’s a brilliant idea to use your savings if you have any. It is doubtful that you may ever earn more on your savings than you would pay on a loan in interest. That implies borrowing money, especially a payday loan, will almost always be more expensive than using your savings.

Contact your family or friends

You won’t have to pay high-interest rates or risk having your credit score negatively affected if you borrow the money from friends or family. Make sure you and the borrower are on the same page regarding a repayment strategy.

401(k) loan

You can take out a loan against the money in an employer-sponsored retirement plan (401(k)). In contrast to personal loans, 401(k) loans do not need you to apply for supporting documentation, and there are no minimum credit score restrictions. They are therefore perfect for borrowers who don’t fulfill the requirements for a regular lending institution’s loans.

Salary advance

The term “salary advance” describes a debt taken out by an employee from their company. They can cover emergency costs by deducting money from their upcoming salary rather than requesting loans from conventional lenders.

This alternative to a loan is frequently provided through payroll advance programs or approved on an individual basis by companies. Even though most employers do not charge fees or interest on paycheck advances, some might if they work with a third-party lender to provide the service.

Compare less expensive choices

If you need to borrow money, there might be less expensive options available than payday loans. Use of a credit card is an option. It may be less expensive to borrow the money since no interest is charged if the credit card account is paid in full within 30 days.

FAQs On Online Loans For Bad Credit

Q1. Why was I previously turned down for a loan?

You might have been denied a loan for several reasons, such as:

  • You have many open loans, closed credit cards, and other debts.
  • Due to late payments or other debts, you have an adverse credit rating.
  • Because you’ve never borrowed money before, you don’t have a credit history.
  • You don’t have a reliable source of income from a job.
  • You don’t have enough money coming in to repay the debt comfortably.
  • You lack a home or vehicle to use as collateral for a secured loan.
  • Your application form contains errors and contradictions.

Q2. What are some reasons why you may have bad credit?

You could have a low credit rating as a result of:

  • late or missed payments
  • exceeding your credit limit
  • County Court Decision (CCJ)
  • Bankruptcy
  • Because you have never borrowed money before, you have no credit history.

Q3. What is considered bad credit?

Experian, TransUnion, and Equifax, the three major UK CRAs, each have a distinct score for what constitutes bad credit:

  • Below 720 on Experian (out of 999)
  • 438 or lower on Equifax (out of 1,000)
  • 565 or less on TransUnion (out of 710)

Q4. Is it possible to apply for a loan without having it impact my credit score?

Most of the time, submitting a loan application results in a hard inquiry into your credit report, which may lower your credit score. However, it’s simple to check which loans you might be qualified for without having your credit score affected. By doing this, you may see what loan amounts and interest rates, based on your credit history; you might be eligible for.

Q5. What do I need to submit a bad credit loan application?

First, use the eligibility checker (if there is any on the website) to find out which loans you might qualify for people with bad credit. Once you’ve decided to apply for a loan, you usually need to submit:

  • Every residence you’ve occupied during the past three years is listed.
  • Your email
  • Information about your employer, including your postal and telephone numbers
  • Information about your monthly earnings and expenses
  • Information about your bank or building society account
  • Information about any bankruptcy or CCJs

Q6. Which loans may I apply for if my credit is bad?

There are still loans available for persons with bad credit, even though your alternatives may be fewer:

Personal loan without security

An option if you lack any assets, such as a home, to pledge as security is an unsecured personal loan. It enables you to take out a loan with a specific interest rate and repay it over a predetermined period. These loans are also called installment loans, as you repay them in several “installments.” *You can get a personal loan with all of the brands mentioned above.

Secured loan

If you’ve previously been turned down for an unsecured personal loan, applying for a secured loan might be more successful. Secured loans are backed by a valuable asset that serves as collateral. Depending on your borrowing, the asset might be something like your house or automobile. You run the danger of having that asset taken away if you cannot make your repayments on time. For a secured loan, there is no need for a guarantor.

Secure mortgage loan

Your house serves as collateral for a secured homeowner loan. There is no need for a guarantor, but you risk losing your home if you don’t make your payments on time.

Guarantor loan

In a guarantor loan, a friend or family member guarantees the loan’s repayment if you cannot.

Peer-to-peer lending

In contrast to borrowing money from a bank or building society, peer-to-peer loans are made between individuals. While the individual providing the money views your loan as an investment, this form of loan may provide reduced interest rates for consumers.

*Lending between individuals is governed by the Financial Conduct Authority (FCA).

Q7. What if I don’t receive any emails after I apply?

We must note that whichever brand you choose from our list, that should not be the case, and we advise you to check the”junk email,” “promotions,” or “spam” folder because sometimes these emails can be misplaced.

Q8. What if I want to renew my application?

If you are satisfied with your lender, you will probably want to renew your application. However, you should know that even with the same lending platform, different lenders have different renewal policies. Be careful as some options may result in a renewed loan and additional loan fees. So, please review your lender’s renewal policies, and if you have questions or need more information, please contact the lender’s customer support or the lender directly.

*Maybe the biggest downside of the lending platforms we selected is that once you are connected with the lender, the platform is not responsible for what happens afterward.

Q9. Can I include the income of my spouse or cohabitant?

This is one common question, and the answer is quite simple: Even if you are married, all of the details you provide (such as your salary and housing costs) should be yours. Only enter your portion of the payment, not the total amount paid by you and your spouse/partner, if you, for instance, pay half of the monthly housing rent.

Your spouse or partner can detail their income and outgoings on their Credible co-signer profile if you include them as a co-signer to your application.

Q10. How to spot a scam?

Generally, there are a few signs that show you right away that you are dealing with a con artist:

  • If someone promises a loan and asks you to pay an advance fee before they deliver your funds, it might be a solid sign of a scam.
  • If you are guaranteed a loan without you needing to meet any requirements. The lender doesn’t check or pull your credit report. The lender does not want income statements or evidence of work.
  • The lender does all of his business over the phone and can not provide information on his firm’s physical location.
  • The proposition you receive is opaque concerning costs or interest rates.
  • The lender requests a gift card or prepaid debit card as “collateral” or “insurance” for the loan.

Debt collection scams

If you receive a phone call from someone attempting to collect a debt:

  • Require a complete identification: Who they are, their company, and the address of the company.
  • Require your debts in writing: This is an obligation by the FDCPA. If they refuse, they are not a real debt collector.
  • Check the business on sites like Better Business Bureau website. Try searching for them and see if any alerts are currently attached to that business.

Conclusion: Popular Online Lenders Offering Bad Credit Loans In July

Bad credit loans with guaranteed approvals might be a good option for people with a limited budget who need money for daily expenses. It’s important to remember that bad credit loan providers will ask for your social security number and other personal information, which may lead to identity theft if you don’t protect it carefully. To avoid such problems, make sure you keep to reliable lending websites.

It is essential to check the terms of each loan before applying for it. It would be best to consider how much interest you will have to pay monthly, how long the loan will take to get approved, and whether any fees are associated with the application process. If you decide that a bad credit loan is right for you, then go ahead and apply!

We hope now you feel more informed on the subject and feel confident about the brand of your choice!

Good luck!

The news and editorial staff of Sound Publishing, Inc. had no role in the preparation of this post. The views and opinions expressed in this sponsored post are those of the advertiser and do not reflect those of Sound Publishing, Inc.

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