Payday loans are relatively small loans that come with high interest rates. Payday loans are also called cash advances and are payable when the borrower receives their next wages.
Payday loans are a type of unsecured loan which means you wouldn’t need to offer collateral to get approved. However, that also means you will need a good credit score to get approved for some specific loan amounts.
Many lenders set a minimum credit score of 660 for loans which makes it hard for borrowers with bad credit scores to get loans.
Fortunately, there are a good number of companies that accept borrowers with bad credit. However, you would have to deal with paying high-interest rates throughout the loan period.
In this article, we are going to list several companies to consider for Bad Credit Payday Loans
1. Money Mutual

Money Mutual is a lender marketplace that connects lenders with borrowers. It doesn’t have a minimum credit score requirement as there are lenders who are ready to offer loans to borrowers with extremely bad credit.
Through Money Mutual, you can get a loan amount up to $2,500 approved within 24 hours. Interest rates and loan amounts vary and will depend on the loan terms and the borrower’s credit score.
Money Mutual is one of the most reputable marketplaces with over 2 million customers giving a positive review of its service. Although it does not charge the borrower any fee for using its service, you would want to watch out for high-interest rates from this company.
2. CashAdvance

CashAdvance is another lender to consider. With this company, you can get loan amounts of $100 to $1,000 approved as soon as possible.
CashAdvance is similar to Money Mutual in the sense that it is not an actual lender but a lender marketplace. The company has several lenders in its network that are ready to offer loans to borrowers with bad credit.
The downside of choosing to apply for a loan from this company is the interest rates attached to the loan. Interest rates vary but you would find yourself paying more than 100% in interest during the loan period.
The higher the interest rate, the more difficult it is for borrowers to pay back thus leading to defaults in payment and late payments. Unfortunately, lenders within the CashAdvance network will charge you a fee for late payment.
Requirements for qualification include a minimum monthly after-tax income of $1,000, a verifiable source of income, and a valid checking account. Applicants are also required to be a citizen of the U.S. to be considered.
3. Personal Loans

Personal Loans is another lender marketplace that allows borrowers to apply for loans from $500 to $35,000 regardless of their credit score. Loans are payable within a period of 3 – 72 months with interest rates ranging from 5.99% to 35.99%.
Getting a low-interest rate will depend on the loan terms of the lender. Personal Loans links you up with various lenders based on the information you provide to the site. You can go for lenders with better loan terms, low interest rates and longer payment periods.
4. Bad Credit Loans

Bad Credit Loans is quite similar to other lenders on our list. It is actually a lender marketplace that links borrowers with lenders who are ready to offer loans. A borrower is linked up to a lender based on their credit score and the loan amount.
Although the site states an interest rate of 5.99% to 35.99%, you should expect nothing less than 20% as interest if you are applying with a bad credit score.
Loan amounts are between $500 and $5,000 with a loan period of 3 – 60 months. The amount you are eligible for will depend on your credit score and the lender’s loan terms. Some lenders wouldn’t let borrowers with a credit score less than 600 apply for a loan over $1,000.
With Bad Credit Loans, you get many opportunities as there are many lenders in the network.
Requirements for qualification are quite similar to that of others already on our list. To qualify, you must be above the age of 18, be a USA citizen or permanent resident, have a regular income and a checking account in your name.
5. My Financing USA

My Financing USA is one of the best options to go for if you have a credit score over 550. The site has received generally favorable reviews from users. It also has a trust score of 8.9 out of 10 stars making it a good choice to consider.
My Financing USA has several requirements and restrictions that borrowers must adhere to before they can become qualified to receive loans from the company.
Borrowers without a verifiable income source are not eligible as the company will require proof of income prior to closing. My Financing USA is probably not the best choice for you if you have multiple bankruptcies and a high debt ratio.
This lender allows you to borrow up to $75,000 with loan amounts starting from $10,000. Your chances of getting approved for a higher loan amount will depend on your credit score. The higher your credit score, the higher the loan amount you can go for.
Interest rates vary and also depend on your credit score. The lower your credit score, the higher the interest rates attached to the loan and vice versa.
6. CashUSA

CashUSA is another option to try out, it is a lender marketplace that accepts borrowers regardless of their credit score. Borrowers can apply for loan amounts as high as $10,000 with interest rates of 5.99% to 35.99% even if they have a bad credit score.
Before your loan can be approved, you will need to meet the minimum requirements for qualification.
These requirements include a minimum monthly income of $1,000 after tax and a verifiable source of income. You must also be a U.S citizen and above the age of 18 before you will be considered.
Loan length is between 90 days to 6 years. When it comes to the loan length, your credit score plays an important role as lenders are more comfortable offering loans for longer periods to borrowers with a good credit score.
These companies are the best choices to consider when going for Bad Credit Payday Loans.