Personal Finance

Loans without a Credit Check

If you have applied for multiple loans and been declined and are in need of immediate cash but don’t want to further impact your credit rating with more credit checks, there are options. Having an impaired or bad credit rating already puts one at a disadvantage when trying to apply for credit. It’s a difficult situation as you may need funds to consolidate debt to get to a better financial position or for an emergency.

It can be extremely frustrating as lenders will classify you as a high risk and not be willing to provide assistance. Individuals with poor credit that need funds are really stuck in between a rock and a hard place. If you have poor credit you will have to come to the realisation that acquiring cash will be difficult and in instances where you do qualify, terms may be unfavourable and the funding line lower than preferred. This is just the reality of the situation and will not change until your credit score is repaired.

Below are some options for loans without a credit check along with lenders whom provide funding for those with bad credit.

Small Loans Australia
They specialise in providing small secure and unsecure loans for Australians needing up to $5000. It’s a quick and easy process that is done without accessing your credit file.

Payday Mate
They provide micro/payday loans between $100 and $1500. This loan is not predicated by your credit rating but by your net income. You must have a job to apply for this loan. In addition, they do run an identity check but not a credit check. (Their services are only available for Queensland, Victoria, Northern Territory, Tasmania and South Australian customers and funds within 24hrs)

Whilst options for loans with no credit check may be limited, there are a few different opportunities available. As with most things that involve some form of a contract, makes sure that you carefully read over the terms and conditions. Most people just scan these and do not take the time to clearly understand what type of agreement that they are entering. It is important that you understand and are comfortable with the terms of any contract.

In addition, if you rely on or collect Centrelink benefits, there are other small loan options available as well. Also, please feel free to provide any other loan options without a credit check below in our comments section to share with readers.

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  1. Alicia
    September 27, 2012 at 9:35 pm — Reply

    Are payday loans the only or main option for loans without a credit check? Are there any other possibilities that require no credit check

  2. dazza
    October 3, 2012 at 8:51 am — Reply

    Hi again,

    I just left a comment on another great article here on loans for people on centrelink or on low income. This is a great blog! I’m glad I found this article as i’m very conscious of my credit score. Its good to find loan options that dont require a credit check.

  3. Richie
    October 5, 2012 at 10:37 am — Reply

    Do most payday loans come without a credit check?

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