Finding a loan if you have a bad credit history can be a lonely path to travel if you try searching for a loan by yourself. So, what is the best way to apply for bad credit loans online instant decision?
There are two ways you can apply for loans online with an instant decision and these are:
- The most difficult and time-consuming way – searching yourself;
- The easier and faster option – allowing us to match you with lenders.
The Difficult Way of Applying For a Loan
You can type in your query in a search engine and be overwhelmed. Headlines promise:
- They can guarantee you are accepted;
- Absolutely no credit check involved;
- Instant approval (this is not the same as an instant decision).
However, more often than not, this is not the case. You spend time filling in details only to find that in fact, you do need a credit check, you do not get instant approval and you are certainly not guaranteed the loan. In fact, you end up going around in circles after being turned down constantly. Not only have you spent hours looking for and applying for a loan, you still do not have the money you need and time is running out.
You should never believe what you read online, most of the time, anyway. Companies do their best to draw you to their site, even if this means telling you things that simply are not true.
For instance, no lender is going to guarantee you a loan, no ethical lender anyway, without first wanting to know if you can afford the loan. The only way they can do this is by checking the amount of money you have coming into the household and what you pay out. Therefore, not true, there is no guarantee you will be accepted for a loan.
Lenders in the UK do have to make credit checks when you apply for a loan, even if it is only a soft credit check and they do not look too deep into your credit history. If lenders promise you loans without a credit check, they are not being completely honest.
Looking for a loan yourself is time-consuming and the most difficult way to obtain a suitable loan.
So what is the best way to apply for a loan?
The Easier Way of Making an Application
Why not make searching for bad credit loans online instant decision easier by allowing us to match you with a lender?
We are not a direct lender. This means we do not offer loans ourselves. Instead, we have teamed up with ethical UK lenders who offer affordable loans with competitive rates for your circumstances.
We do not believe in lying to get you to our website so we will not guarantee that you can get a loan or that the lenders we work with offer instant approval. What we will promise is to do our best to match you up with a lender for a loan suitable for your needs.
One Application Search with Multiple Lenders
You can make a single application, by filling in a few details, which is not a long process; we then search for your loan with multiple lenders from a large panel. There is no guarantee we can find you a loan but the chances of us doing so are greatly improved because there are multiple lenders on our panel.
Instant Decision Not Instant Approval
Instant decision and instant approval are two different things.
- Instant decision – this means you will be given an instant decision about whether we can match you with a lender;
- Instant approval – you are given instant approval for the loan. This can lead you to believe a lender will approve your loan application instantly and you will get the loan when this might not be the case.
You will never be given guaranteed or instant approval for a loan from any lender. This is due to the fact there are some criteria that have to be met before approval can be given; this is not just checking your credit rating. This information includes:
- Being over 18;
- Living in the UK;
- Having a UK bank account and a debit card;
- A regular income;
- The ability to set up a direct debit for the bank account.
We never promise instant approval, but we can give you an instant decision. This means that within minutes you will know if we have been successful in matching you up with one of the lenders we work with. We might match you up with more than one lender, which allows you to compare loans for the most suitable one for your needs.
Types of Bad Credit Loans Online Instant Decision
We work with a panel of lenders who offer numerous loan options, which is a plus as there is more chance of our finding you a suitable loan.
Loans offered by the lenders we work with include:
- Payday loans between £100 and £500 repaid between one to three months;
- Short term loan between £500 and £1,000 repaid in under one year;
- Guarantor and personal loans up to £5,000 repaid for up to 36 months.
All loans come with an instant decision and if successful, the money may be paid into your bank account within hours.
Payday loans are among the easiest types of loan to find approval for if you have a bad credit rating. Lenders only offer small sums of money and the money is paid back in a couple of months. Lenders will generally still check your credit rating, but the lenders we work alongside take into account your ability to repay the loan more than your credit history.
Short term loans are another instant decision loan that is fast to apply for and which lenders do not focus too much on your credit history. The repayments are spread out slightly longer than a payday loan, giving you a little more financial leeway in paying back. Of course, the longer the loan the more interest accumulates and the more the loan costs.
The easiest way to look for bad credit loans online instant decision is with us. You will know within minutes if one of our lenders can offer you a loan and they offer affordable loans along with numerous loan options and some of the most competitive rates. Apply today and discover how easy it is to get short term financial help.