Payday Loans No Credit Check Instant Approval

Advertiser Disclosure: is an advertising-supported personal finance website. With the help from advertising we can support and maintain our website which gives us resources to create well-researched information and articles for our visitors. Read our full Advertiser Disclosure here.

With payday loans, one of the biggest problems you face when you have bad credit is to find willing lenders. Banks and lenders generally lookout for a range of indicators that show your credit capabilities. These indicators include your credit score, credit history, proper documentation, proof of income, etc.

So when you have bad credit, lenders who resort to credit checks can be a roadblock for you. Also, if you’re in a dire financial situation, you may need fast cash. In cases like this, you’ll want lenders who immediately approve your loan without delaying the process. With bad credit and immediate need, payday loans may be a viable option for you. But most payday lenders will want some sort of credit check and essential documentation.

So, how do you find instant approval payday loans with no credit check? Here’s all you need to know.

$400 - 50,000
Bad credit
Approval rate
High approval rate
Deposit time
In some cases
Type of service
$500 - 10,000
Bad credit
Approval rate
High approval rate
Deposit time
In some cases
next day
Type of service
« Show more alternatives »

Payday Loans Online with No Credit Check and Instant Approval, Do They Exist?

Every legitimate lender out there will require a form of credit check before lending money. So, there are practically no lenders who will be willing to loan out cash with zero credit check. If you find a lender who does agree to lend you money without any background check, it may well be a scam. Any authorized lender will not give money to borrowers who can show no sign of repaying. It doesn’t take a genius to figure out that the lender will very well want their money back after the agreed period. If you see advertisements or marketing slogans that promise zero credit check, they probably mean a soft credit check.

Payday loans online are never instantly approved. With credit check and some basic documents, it’s never a quick affair. If specific lenders offer their services with instant approval, it may mean that your online application is instantly accepted. The loan, on the other hand, will still have to go through a basic verification process.

What is a Soft and Hard Credit Check?

When lenders claim to offer loans without any credit checks, they usually mean they don’t perform hard credit checks. It means that they’ll still perform a soft credit check. So, what is a soft and hard credit check?

Soft Check

A soft credit check is a form of credit check that does not affect the way your credit score appears. This means that your credit report will not decrease for undergoing a soft credit check. This feature of soft credit check makes it an advantage for borrowers with bad credit. You can get a soft credit check multiple times and still have your credit score intact.

If you’re opting for a payday loan, it probably means your credit score is low, and you need money. In this circumstance, going for a soft credit gives you twin benefits. It satisfies the lender’s need to check your credit, but it doesn’t affect your credit report too much. A soft credit check is convenient and easy to carry out if you have a bank account. Your bank statement should cover enough details to secure you a payday loan.

Hard Check

With a hard credit check, your credit report also undergoes some changes. With multiple hard checks, your credit score may drop down a few ratings. If you’re already in financial limbo, hard checks aggravate your situation further. This type of credit check has a more significant effect on your credit score because it requires information that goes beyond just your bank account. For payday loans, you’re better off with a lender who only needs a soft credit check.

Requirements for Payday Loans

While applying for payday loans, there are some basic requirements that lenders will request. There may be other specific information that may vary from lender to lender. But these standard items remain the same across all lenders.

  • Legal Age
    You have to be of legal age before you can legitimately apply for any loan, installment, or otherwise. The minimum age for securing a loan is 18 years. But it’s better if you are at least 21 or over because this means you have a few years of work experience.
  • Monthly Income
    You have to present an income of at least $800 per month. But here too, a stable income of $2000 or so would work much more in your favor. A steady monthly income shows that the applicant is capable of honoring regular repayment terms.
  • An Active Bank Account
    An essential requirement is to own a bank account with the considerable movement of resources. Having a healthy record of transactions in your account results in better credit history. Certain loans may be possible without bank accounts, but these options won’t offer you a lot of benefits.
  • Proof of Identity
    With financial scams and thefts lurking everywhere, banks and lenders need to know who you are. An ID that establishes your identity is one of the first things lenders will request.
  • Proof of Income
    Finally, you may have to show some evidence of the income you’re earning. Usually, this is covered if you have a pay stub from your work.

Instant approval vs. Instant decision

With payday loans, one thing that can confuse a lot of applicants is the ‘instant’ element in the advertisements. You may come across lenders who claim to provide instant approval or instant decisions. The exact phrasing may vary slightly in some cases. But these are the two terms that most lenders use and are prevalent.

Many times though, borrowers can be misled by clever phrasing and marketing tactics from lenders and credit companies. To make sure that you are not led astray, we need to understand the difference between these two otherwise similar terms.

Instant Approval

Whenever lenders claim to provide instant approval, they usually mean instant decision. No lender in his right mind would provide instant support without going through your application properly. Another term you may come across in these situations is ‘Guaranteed Approval.’ This term is also misleading since no lender can guarantee your loan before hearing from you. These are just clever marketing tricks to lure you into applying. Most of these claims usually imply an instant decision.

Instant decision

Nearly every lender and credit company provides a form of instant decision. The catch here is that the decision may be a rejection of your loan. If your form or application is missing some items, your loan may be immediately denied within a business day. This rejection would also count as an instant decision. So, just because a lender promises instant decision, it doesn’t guarantee you a loan. The decision may go either way. It’s just that you will be notified without delay.

Also, there are cases where loan applications may require a closer study. In this case, lenders may not provide an instant decision. So, if your form demands a more in-depth look from the lender, you may not get the decision within a business day or two.

Payday Loans – The Benefits

Although payday loans are not the first choice for many borrowers, there are situations when they really help if you urgently need money. Because of the quick and convenient processing, payday loans remain a good alternative for many borrowers. A payday loan’s advantages also depend on the kind of situation you’re in. But most of its benefits are applicable in a variety of circumstances.

  • With online payday loans, you can avoid paying late fees and overdrafts. Since the repayment schedule is not very flexible, you have to clear your loan within a short period (usually a few weeks). This allows you to stay away from overdrafts that cost you much more than you borrow.
  • Payday loans generally do not affect your credit report. With a soft credit check, you don’t have to worry too much about your credit score as you take out a payday loan.
  • This is the reason why it remains an excellent alternative for borrowers with bad credit.
  • It comes with low requirements. Lenders will mostly require some necessary information about your bank account. Sometimes, a pay stub is all you need to get a payday loan.
  • With some lenders you will receive your loan the same day while others can arrange the transfer the next business day.


Most payday loans online run on almost the same features and requirements. They usually require a soft credit check which doesn’t hurt your credit score. This means they don’t have to make enquiries in one of the three main credit bureaus – Experian, Equifax, TransUnion. Since it’s not a hard credit check; lenders may claim to offer online payday loans with no credit check. But be aware that a soft credit check is usually expected from all lenders, regardless of their claims. Also, if there are claims of instant approval, it usually implies immediate acceptance of your form or instant decision (accept or reject).

Ultimately, whatever the claims made by lenders, it’s up to you to verify facts. Payday loans has tons of advantages if used correctly. But it can also bring you in contact with questionable lender sometimes. Try your best to stay informed of these practices and trends. With the right knowledge, you’ll be able to secure the best payday loan for your situation.

Quick Stats

Highest AmountHonestLoans - $50,000

Loan Terms up toQuickLoanLink - 7 years

Recommended income$2,000+ per month

Grace Chen
Article written by

Grace Chen

Grace Chen has 10 years of experience in the financial field and have been delivering excellent business content through her articles.

Grace graduated from the Haas School of Business, University of California and is currently the chief editor of Communicate Better where she has written and edited thousands of articles published in various media.