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Guaranteed Payday Loans No Credit Check
21 Jun 2019

Do Lenders Offer Guaranteed Payday Loans No Credit Check?

If you have a poor credit rating, you might think it impossible to get a loan. So, you might be surprised to hear that this is not necessarily true and some loans are easier to find approval for with a bad credit rating than others are. However, is there such a thing as guaranteed payday loans no credit check?

We hate to burst your bubble but there isn’t any type of guaranteed loan out there. However, you should not get too disheartened. As we have mentioned above lenders are more lenient with certain types of loans and the payday loan is one of them.

Here we are going to look at:

  • Why lenders are more lenient offering payday loans – smaller sums of money are being borrowed;
  • Why there are no guaranteed loans – there are eligibility checks and credit checks;
  • The easiest way to apply for a payday loan – allow us to match you with a lender.

Why Are Lenders More Lenient With Payday Loans?

One of the main reasons why lenders are more lenient when it comes to approving payday loans for people with poor credit is you are only borrowing a small sum of money in relation to other types of loans.

For instance, with a personal loan, you can apply to borrow thousands of pounds. With the payday loan lenders put a limit on how much you can apply to borrow, usually in the region of £100 and £500.

In their eyes, this is only a small sum of money and so the risk is not as big if you run into trouble repaying it.

The Payday Loan Is Repaid Back Quickly

Another reason lenders are more lenient is that payday loans are paid back very quickly.

Lenders will allow you to spread the cost of borrowing between one and three paydays. This means you are only borrowing for between one and three months.

You can pay the whole amount back, along with interest, on your next payday or have the total amount including interest divided out over three paydays. You will know how much the loan is going to cost you in total as interest is calculated daily.

Therefore, it is in your interest to pay off the loan as quickly as possible to keep the interest down to a minimum.

Why Don’t Lenders Offer Guaranteed Payday Loans No Credit Check?

There are many reasons why lenders cannot guarantee a loan before taking some details from you.

If you were to make a search yourself for guaranteed payday loans no credit check we have no doubt that you will find search headlines telling you the lender will 100% guarantee you a loan.

Eligibility Checks

However, all lenders have to make checks, including eligibility checks before deciding whether to approve any loan, so a loan cannot be guaranteed.

For instance, to be eligible to apply for a loan you have to meet certain criteria.

This is one reason lenders cannot guarantee a loan before checking such information. You have to:

  • Be at least 18 years of age to apply;
  • Have a UK address;
  • Have a regular income;
  • Have a bank account in your name;
  • A debit card attached to the bank account.

Lenders have no idea whether you meet this criterion until you apply for the loan and give your details, therefore no ethical UK lender can guarantee a loan outright.


It would be unethical of any lender to guarantee you a loan if you could not afford to repay the loan, however, small the loan.

When deciding whether to approve you for a loan the lender will make an affordability check. They will want to know how much income comes into the household and what you pay out each month. This will leave you with what is called a disposable income, money that is not marked for paying bills or living on, which could be used to repay the loan.

This is to make sure that the repayment or repayments of the loan are not going to leave you short of money when your payday comes around.

This is also something that you need to calculate yourself. If the loan is going to leave you short, it is not ideal for your situation, as you might have to borrow again to tide you over again, this leads to a payday loan circle and financial difficulties.

Soft Credit Checks

Lenders do make a credit check with all loans. However, as the risk with the payday loan is smaller than if you were asking to borrow thousands of pounds, they may only make a soft credit check.

However, they will still check your credit file as they are going to want to know how you have managed credit in the past when borrowing. This gives them some idea as to whether they will be taking a big risk on you repaying the loan. It is a safeguard for them.

When undertaking a soft credit check the lender generally does not look as deep into your credit past as they might if you asked to borrow thousands of pounds and spread it over years.

The lenders we work alongside will also factor in loan affordability and your current circumstances, as they might have changed drastically from when you obtained the poor credit rating.

We Make It Easy to Apply for Payday Loans

If you want a payday loan, you might consider applying for your loan with our help. We make it easy to apply for loans as we work alongside a panel of lenders.

The lenders we work alongside offer some of the most competitive interest rates along with affordable loan options and you get an instant decision.

This means you only have to make a single application to search with multiple lenders. While the lenders we work alongside do not offer guaranteed payday loans no credit check, they do consider all circumstances along with looking into your current circumstances. Apply today; you could have funds from the loan paid into the bank on the same day.