Are There some Bad Credit Loans with Guaranteed Approval?

Written By Alla Levin
November 26, 2020

Are There Some Bad Credit Loans with Guaranteed Approval?

Trying to secure financing with bad credit can be really tough. If you’re someone with bad credit, you know exactly how difficult this can be. In times like these, getting a bad credit loan with guaranteed approval would be a dream-come-true. But most lenders choose to have at least a basic credit check before agreeing to loans. With bad credit, this can be a blow to your score because you can’t borrow more.

Bad Credit Loans with Guaranteed Approval

There are a few lenders who may approve loans by doing only a soft credit check. Soft credit checks verify your present income but don’t go into past details. And it still counts as a real credit check. However, if you come across lenders who are ready to loan with zero credit check, be very careful. Even the law requires a minimum credit check.

Your chances of approval may also depend on the nature and amount of borrowing. For instance, you may try for a bad credit loan with guaranteed approval $10,000 – $40,000. With a hard credit check, lenders may deny the loans if your credit history is low. But if your requirement is lower, you may be able to go for a soft credit check. For example, if you opt for a bad credit loan with guaranteed approval ($10,000 or less), your amount-required will be less than the previous range. With lower amounts, there may be vendors out there who do not require a hard credit check.

Requirements for Bad Credit Loans with Guaranteed Approval ($10,000 or less)

We’ve rounded up the credit amount to ‘$10,000 or less’ for the sake of clarity. Remember that this is not a realistic reflection of how much lenders are willing to give you. The amount you secure will change depending on the lender, your credit history, repayment schedules, etc.

You may look for alternative ways of securing a loan with bad credit. Even in these cases, you’ll need to fulfill some essential requirements. These basic requirements for loans with bad credit are:

  • Minimum age of 18 years (However, some lenders may require a minimum of 21 years)
  • A minimum desirable income of $2000 (before tax). Lenders may relax this amount to $800 if you include taxes.
  • Proof of this minimum income (Pay stubs usually work).
  • A valid proof of identification
  • A valid and active bank account.

Can I get a Same-day Deposit?

Same-day deposits are always desirable for the borrower but rarely guaranteed. An ideal scenario would be if you applied early in the day, and the loan amount is small. With prompt approval from the lender, you may get your money on the same day. But this, of course, depends on a couple of other factors too.

Loan amount

With same-day deposits, smaller loans have better chances of approval. For instance, you try to get a bad credit loan with guaranteed approval – $10,000. In this instance, the amount is large enough to require considerable credit checks from the lender. The more intensive the credit check, the longer it takes.

ACH Clearing time

All transactions that happen between two accounts usually go through the ACH (Automated Clearing House). The ACH works on a method of clearing transactions in batches. So, it will wait till a specific number of transactions are ready before processing the batch. Your loan transaction will have a better chance if it reaches the ACH before it concludes the last batch for the day.

How to Improve a Bad Credit ScoreHow to Improve a Bad Credit Score

Getting your credit score up is a challenging task and takes time. But if you do it well, it’s definitely worth the efforts. Here’s a brief overview:

  • Get a detailed understanding of your credit score. Identifying your weak points will allow you to focus on fixing the right areas.
  • Enlarge and diversify your credit cards. Make sure that you don’t incur expenses on the extra cards. The zero balance on the extra cards will improve your credit utilization score.
  • Try to make larger payments on your existing debt. Craft a budget for sizeable payments and try to keep the dept to below 30%.


Bad credit loans with guaranteed approval usually don’t exist. There are laws in place to ensure that these exchanges don’t happen easily. The best you can expect with bad credit is a smaller loan with a soft credit check.

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