![]() What are no credit check loans? No credit check loans are funds issued by lenders that do not conduct a hard credit inquiry to review a borrowers credit history. Instead of pulling an applicant's' credit report, no credit check lenders look at income, bank information and a range of other criteria. These can come in the form of installment loans, payday loans, lines of credit, personal loans, title loans or a variety of other lending products. Borrowers typically seek out such loans on a short-term basis to meet a pressing need, frequently from online or storefront lenders. The notion of a no credit check loan can be alluring to those who need a bit of quick cash. Perhaps they dont want a credit inquiry to appear on their credit history, or they might think obtaining loans with no credit check is their only option. The benefit of a no credit check loan to the consumer is often a fast and simple application process with funds made available either the same day or the next. The downside is that they can be costly to obtain, with fees and interest rates that add up quickly. What is a soft credit inquiry? |
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![]() How can I get a no credit check loan? There are a variety of lenders and financial institutions that provide small-dollar loan options without requiring a look at your credit score. Its important to research your options before applying for one of these loans, even if its an easy, online loan application. Applying for too many loans in a short period of time can still flag you as a risky borrower to lenders, even if they arent looking at your FICO score. Lenders perform credit checks to help make decisions about whether or not potential borrowers are likely to repay their personal loans. While we dont check your FICO credit score at OppLoans, we want to make sure we set you up for success to make on-time monthly payments. Looking at your credit history can help us do that. Will OppLoans check my credit when I apply for an online loan? Yes and no. OppLoans doesnt perform hard credit FICO inquiries with the major credit bureaus. |
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