Which payday loan is
best for people with
bad credit?

Which payday loan is best for people with bad credit?

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Our loans offer people with a bad credit history or no credit at all a chance to get a personal loan. With loan repayments made on time and in full our loans could help people to correct their credit score or create a good score if they have never had credit before.

Easy and Secure Application

Quick approval Process

Contactable by Email

Representative Example:
305.9% APR. £400 borrowed for 90 days.
Total amount repayable is £561.92 in 3 monthly instalments of £187.31.
Interest charged is £161.92, interest rate 161.9% (variable)

Please note:
Finacerr is NOT a lender – we are a licensed broker working with the most popular direct lenders in the market to find you the most suitable short-term loan plan. Our FREE quoting service compares more than 40 lenders quickly and finds you a lender with the lowest rate that they are willing to lend to you today.

Rates from 45.3% APR to 1575% APR – we provide a no obligation quote, your APR will be based on your personal circumstances

Mini Credit Loans: Do You Need A Guarantor?

Life is unpredictable and no matter how good you are at planning, there are things that cannot be foreseen. Like life, emergency situations happen out of the blue, when you least expect it. It could be anything – a family member rushed to the hospital, an accident, a life-threatening disease, or a sudden job layoff. These things happen to everyone, even to those whom you think have a perfect life. During these tough situations, the last thing you want is an empty wallet. Money is essential to address these concerns but what if you barely have cash? What should you do? This is where mini credit loans come in.

Mini credit loans are known for its fast and reliable assistance. It has a significant difference with banks and conventional loans when it comes to its prerequisite, service, and application procedure. Many people rely on this during tough situations. Below are some of the things that you need to know before you hit that application button.

What Are Mini Credit Loans?

From the name itself, mini credit loans are small loans. Meaning, the amount they offer is relatively small; however, it is enough to tide the borrower over the next month. It’s almost similar to payday loans wherein the cash is received in as fast as one hour. It also has the same repayment terms wherein the borrower is required to settle the loan in as fast as two weeks or more, depending on the agreed terms and conditions.

Like other private lenders, the loan is offered online, although they have physical offices which you can visit. Applying online gives you utmost convenience that you cannot simply acquire from banks and traditional loan facilities. Impressing the lender is not necessary so there’s no need to get dressed and look as professional as you can. Since it is done over the Internet, the borrower may start his application by going online. With the help of a stable network connection and a laptop, you may begin sharing your personal and financial details by filling out an application form. Normally, there are no other documents required than the application form; but in case the lender requests for a certain file, you can have it faxed. In a matter of minutes, a verification call will be conducted to check whether the information shared is true or not. Once the verification is done, the lender will release the decision. Although the loan requires minimal prerequisites, you may still end up rejected. Therefore, before getting the loan, be sure to check whether you meet their criteria or not.

If you’re lucky enough to get the lender’s approval, your money will be transferred to your bank account on the same day you’ve applied, or on the next business day.

Do You Need A Guarantor To Get The Loan?

As mentioned, mini credit loans have less stern requirements. In fact, most lenders will only require the borrower’s bank account and the proof of income. The credit report is not much of an issue although, at some point, it will be used to determine the maximum amount that you can borrow and the interest rate that will be charged on your loan. This means that even with a bad credit rating, there’s still a chance for your loan application to get approved. That being said, guarantors are not necessary; after all, the amount to be given is small and easy to be settled. For those who don’t want to disturb anyone or want to maintain their privacy, a no guarantor loan is a blessing.

Benefits Of Mini Credit Loans

Aside from the fact that you don’t need guarantors to get your loan approved, a mini credit loan comes with many advantages, such as the ones stated below:

Unsecured Loans

One of the reasons why a person gets intimidated about loans is the collateral. Most of them think that it is highly necessary, otherwise, they will not be granted. The good news is – mini credit loans do not require collateral. This is a relief to people who don’t have any property or borrowers who don’t want to risk their assets. No collateral will be taken away from you even if you fail to settle the loan; however, you should take note that defaulting on a loan has a negative effect on your credit report.

Quick Approvals

You know how unexpected emergencies are so probably, you don’t have enough money to cover it. With mini credit loans, you’re confident that you can take care of untimely situations. The lenders can assist you immediately so you don’t have to wait for your money. But the question is – how quick can you obtain the money? Some lenders claim that they can provide the money on the same day you’ve applied while other loan providers can deliver it in as fast as one hour!


The application for mini credit loans take place over the Internet, so there’s no need to leave the comfort of your home. There’s no need to deal with heavy traffic, long queues, colossal documents, and intimidating lenders. The entire application process is completed online and the next thing you know, your money is already transferred to your bank account.

No Early Repayment Penalty

Getting a loan is a good news, repaying the debt sounds a lot better! No matter how desperate you are with money, there’s still a strong desire to settle the loan as soon as possible. Lenders will surely like this idea as well; however, this is not the case with banks. If you choose to repay the loan earlier than the agreed period, you may only receive a penalty. This means that you will be charged for settling the debt before its due date. Mini credit loans, on the other hand, will not add extra charges.

Improves Credit Score

Aside from the financial assistance it offers, mini credit loans no guarantor can help increase your credit score. This is beneficial to those who have poor credit ratings or have no credit history at all. As long as you can settle the loan on time, your overall credit score will improve and in the future, creating a new line of credit is very possible.

Mini Credit Loans: How Bad Credit Affects The Application

Before anything else, let’s find out what a bad credit score is. As a borrower, your transactions are recorded in your credit report. It contains the computations that make up your credit remark. A low credit rating indicates a financial mistake, such as late payments, defaults, bankruptcy, foreclosure, or arrears. For lenders, this is a red flag and you are considered as a high risk. Because of this, getting a new credit is nearly impossible. But with the changes nowadays, there are a lot of lenders who are willing to accommodate people with a bad credit. This means that your chances of getting approved are high; however, it is limited. You may be offered a loan but is likely to carry expensive fees and charges. Loan providers will still see you as a threat to their business and the only way to compensate the risk is to apply exorbitant rates.

Credit Scores

Every lender has their own way of determining scores but basically, the higher the rating, the better the credit score is. In general, the scores may look like this:

  • Excellent Credit Score: 700 to 900
  • Good credit score: 680 to 699
  • Average/OK credit score: 620 to 679
  • Low credit score: 580 to 619
  • Poor credit score: 500 to 579
  • Bad credit score: 300 to 499

For most lenders, a low credit score is bad enough so it’s really important to be aware of your credit remark. If you want to know your credit score or check if there are discrepancies, you can ask for its free copy. Any inaccuracies should be reported as this will help you increase your credit remark. Contact the credit bureau to ask for assistance.

A Bad Credit Score Is Not Forever

Failing to repay your credit card on time, losing your job, or defaulting on a loan can put you in a bad situation. As your credit rating gets badly affected, your chances of getting approved for a loan are becoming smaller. However, you don’t have to suffer from it forever. There are ways on how you can improve your credit remark and one of which is by getting a loan.

Mini Credit Loans Direct Lender

When you’re considering your credit history and you want to acquire cash at the same time, the best way to start is with a direct lender. Although a loan broker can help you find a lender that will suit your preferences, a direct lender is also essential.

If you need cash, the last thing you want is to wait. If you choose to work with brokers, a lot of time is consumed because they act as the middle person between you and the lender. You cannot get the information or money directly as they have to wait for the lender’s decision. On the other hand, a direct loan provider directly communicates with you. They can answer your concerns as fast as possible and provide the money in a matter of hours.

Since they have a full control of the loan, they may waive fees or modify some terms and conditions, depending on your agreement. This is good news if you want to reduce your expenses. Since it is less expensive, repaying the loan is easier.

Benefits Of Mini Credit Loans No Guarantor

Mini credit loans without guarantor offer several benefits and one of which is accessibility. Anyone who has a working laptop and an Internet connection can apply providing that they meet the lender’s criteria. Going out is not an option but a choice. You can start your application at your own place. Online mini credit loans are safe contrary to the belief of many people. Their websites are completely secured as long as you’re dealing with a licensed lender. This means that your personal and financial details will not be shared or sold without your consent.

Since it is unsecured, there’s no collateral needed. This is a relief if you don’t have any property or you don’t want to risk losing your asset. In addition, the repayment term is flexible. Some lenders may allow you to choose your own date of repayment.

As mentioned above, the loan offers quick results. After you submit your application, a decision will be released in just an hour. This will give you enough time to look for another lender in case your application is rejected. Once approved, an email will be sent asking for your e-signature and after an hour or so, the money will be deposited to your bank account.

Mini Credit Loans UK: Where To Use Mini Credit Loans Instant

As a personal loan, mini credit loans can be used on almost anything you can think of (unless it is an illegal item or activity). You can use it to buy food or groceries, finance your loved one’s education, settle medical expenses, or pay your utility bills. If you own a small business, you can use the loan to expand your venture or purchase equipment for it. It is also beneficial when you need a capital to start the business.

Dealing with multiple debts is frustrating but you can make things a lot easier with a mini credit loan. Once approved, you can use the money to consolidate all your debts. Just be sure to get a loan that has a lower interest rate than your current debts. Otherwise, it’ll be useless.

A mini credit loan is also advantageous if you want to celebrate special occasions or travel abroad. The little amount it offers is enough to cover basic expenses or bills for one month. Unfortunately, it cannot be used as a long-term financial assistance. But since it is quick and convenient, the loan is still a popular choice for many borrowers.

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5 most recent personal loan reviews

Review of Totally Money

Hello, I would like to say how quick, simple and relatively easy to apply for the loan can be. The person who phoned me was very polite and any questions that I needed to ask were answered quickly and easily, they were very knowledgeable and I would recommend them to anyone. I don't think they could be better personally. And the money transfer is really fast and it was all sorted out that day.

Review posted by Stephen Hancock, Leeds

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Review of Chirpy Loans

My partner needed a loan asap and after he was turned down by his bank for a loan and several other banks, we felt we should give Chirpy loans a try. 15 mins after filling out the application, someone called up and approved the loan within minutes. The girl was super friendly and made sure we would be able to pay the loan back. Its great that they believe in you.

Review posted by Nicola Bird, Oxford

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Review of My Jar

At a time I needed financial help, My Jar loans took me through everything I needed to know and bent over backwards to get the money requested to me in the shortest time, really good service. Strongly recommend them to anyone.

Review posted by Peter Middleton, Barnstaple

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All reviews have been sourced from TrustPilot.com for authentic quotes.