What Credit Score Do I Need To Get a Payday Loan?

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Please help. I need more information about what loans can I count on with bad credit. I had a couple of delayed payments a couple of months ago and it seems they impacted my credit score. Is credit score the main factor that is taken into account when borrowing money from payday leders? Thank you for your answer!
– Smith

The Answer

One of the best things about fast lending is that you do not necessarily need a solid credit score to apply for a loan.

Indeed, this is one of the top reasons why consumers choose payday loans. Quite a few payday lenders are even willing to give loans to customers with poor credit score. What if you have no credit history? That is often acceptable as well when getting a no credit check loan.

Some payday lenders do not even run credit checks. We recommend however that you choose a lender that runs a “soft” credit check. Sometimes this is also known as an “alternative” credit check. This type of credit check does not hurt your score.

Credit Check

Why is a credit check important? Even if a lender is willing to consider a customer with bad credit or no credit, it is essential to know where that customer stands. It would be irresponsible of the lender to give a loan to a customer without some understanding of his or her financial situation.


What is usually more important than your credit score when it comes to qualification is your income. Lenders ask you to verify your income with documentation when you apply. Your revenue lets them know if you are likely to be able to pay back your loan.

While there are some lenders which skip the income check, we recommend avoiding them.

Remember Skipping the income check is not a responsible lending practice.

To sum up, there is no minimum credit score to qualify for a payday loan. Even with bad credit or no credit, you may be eligible. What matters most is that you have the income to pay back the loan when it is due.

Reviewed by: Casey Bond
Date Reviewed: Mar 13, 2019

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The answer on this page is provided in collaboration with some of our trusted lenders who are proud members of the Online Lender’s Alliance. The purpose of the provided answers is to inform the consumers about the specifics of online lending. It should not be treated as legal advice or regulatory guidance. The information is updated periodically and may include links or references to third-party resources or content. SDL365 does not endorse any third-party nor does it guarantee the accuracy of the third-party information. We encourage you to consult other resources that might serve your needs and take into account your particular situation.

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