Quick Loans No Credit Check *

Get between £50 - £5,000 paid out by

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  • 100% Online Process

  • Borrow up to £5,000

  • UK Based Lenders

  • Bad Credit Accepted

  • 2 Minute Application

  • Same Day Transfer

  • Representative Example: Rates from 35.9% APR to max 1304% APR. Minimum Loan Length is 3 months. Maximum Loan Length is 36 months. Representative Example: £250 borrowed for 3 months. Total amount repayable is £411.63 in 3 monthly instalments of £137.21. Interest charged is £161.63, annual interest rate of 292% (fixed). Representative 1192% APR (variable). *HappyPenguin will not perform a credit check but lenders will determine your loan eligibility by performing a soft search. If you accept the loan offer presented to you, a hard credit search will be performed.

    Do they really exist?

    When you’re dealing with an emergency in life, sometimes you need money, and you need it fast.

    You don’t have the time to contact your bank, arrange an appointment with an advisor, and discuss all the ins and outs of your credit history. You can’t afford to wait around for someone to sort through all of your credit details and decide that they’re going to pass on your loan, leaving another black mark on your file.

    When you need money fast, payday loans or “quick loans” can be the ideal solution. They give you instant access to cash, often delivered by transfer to your bank account. The most obvious benefit of these fast-paced loans is that they give you access to the money you need when you need it most. However, even short-term payday loans can be difficult to access if your credit rating isn’t as great as it should be.

    That’s why people begin searching for quick loans with no credit check at all.

    The idea is that with a quick loan that demands no credit check, you could borrow money from a provider, without having to air all of the private details about your credit history. At first glance, such a cash advance might sound like a great thing – but it’s not all its cracked up to be.

    What are Credit Checks, and How do they Affect Loans?

    Credit checks are how credit card providers, banks, and other companies assess your risk level as a lender. Everyone has a credit history – even if you’ve never taken out a loan or used a credit card.

    With a credit check, an organisation can look back over everything you’ve ever done with your money. For instance, they’ll be able to see if you’ve defaulted on loans in the past or failed to pay off the money that you owe on time. This would indicate that you’re more of a risk and would, therefore, tell lenders that they should probably charge more interest on your loan, to protect themselves.

    If you have had problems with money in the past, then this might be reflected in something called your credit score. A credit score is a numeric representation of the risk you pose to a lender. Importantly, the higher your score, the less of a risk you become.

    When you want to get a instant loan as quickly as possible, a great credit score can help. It shows people that you can be trusted to borrow money and pay it back on time. However, most people suffer with credit score issues throughout the UK today. This means that it’s very difficult for a lot of consumers to get the money they need when they’re facing an emergency.

    Even a person who has never had a loan before can have a hard time getting instant credit. This is because you can’t have a good credit score if you’ve never been in debt. There’s simply no information to tell the credit agencies how careful you are with money.

    What are Quick Loans No Credit Check?

    In an ideal world, a quick loan with no credit check would be a cash advance that you got from a lender who simply trusted you – regardless of what your credit history said. However, the truth is that UK companies are not permitted to give loans without checking a consumer’s history. The financial conduct authority – the group responsible for keeping your loans safe, makes sure that every lender conducts a check before offering a customer a loan.

    If a company gave you a loan without checking your credit history, they would be providing you with money without any knowledge of whether you could afford to pay it back or not. This means that they could be getting you into a worse financial situation than you’re currently in.

    The FCA believes that all lenders should perform credit checks to ensure that everyone involved in a loan knows what they’re getting into. However, that doesn’t necessarily mean that a credit check has to be a bad thing.

    A lot of consumers balk at the thought of credit checks because they know that they don’t have the best credit score. However, there are still plenty of lenders out there today that can give you the quick emergency loans that you need, regardless of what your credit score might be. These providers, also known as “bad credit lenders,” still check your credit score, but they also use other criteria to decide whether you’re eligible for a loan.

    Getting Quick Loans with No Credit Check

    When you have a bad credit history, and you’re dealing with an emergency expense, your immediate response may be to seek out “Quick loans no credit check” on the internet. However, even if you happened to find someone who could give you the credit that you’re asking for, you’d be placing yourself in some serious danger.

    Ultimately, working with a provider that doesn’t conduct a credit check when you apply for a loan means that you’re connecting with a loan company that doesn’t hold themselves liable to the rules and regulations of the financial conduct authority. As such, there’s a good chance that the business in question isn’t entirely ethical with their lending practices.

    If an organisation fails to follow the rules provided by the FCA for credit checks, then it’s impossible to know for certain what other things they might be ignoring. For instance, they may decide not to stick to the caps required by the FCA on the price of interest for your loan. Alternatively, they could charge astronomical fees if you’re late with your repayments, despite the fact that the FCA demands late fees must never be more than £15.00.

    Ultimately, trying to get a loan without a credit check isn’t worth the risk that you’re taking in the long-term. Instead of attempting to hide your credit score from the lenders that you want to borrow money from, you should be looking for a company that can accept you, regardless of what your rating looks like.

    Can you Still Get Quick Loans with Bad Credit?

    Quick loans are a form of short-term or payday loan designed to give you fast access to cash when you need it most. One of the good things about quick loans is that they’re usually available for shorter periods, and smaller amounts of money. When a lender is only giving you a minimal amount of cash for a few weeks or months, they’re taking on less risk.

    This means that your provider can ignore other risk factors, like a bad credit history, and give you the benefit of the doubt with your loan. They’ll check whether you can reasonably afford to borrow the money that you’re applying for and use that to make their decision instead. For instance, if you’ve got a regular source of income that you can use to pay your loan off on time, then you should be eligible for a quick loan for people with bad credit.

    Although you may not get the same deal on your short-term loans as people with higher credit ratings, the same can be said of any loan application. You’ll always get a better deal the higher your credit is. Bad credit loans for people who need money fast are simply intended to make sure that you don’t have to give up on getting the money you need altogether, just because you had painful experiences with cash in the past.

    You may even be surprised by the number of providers that can still give you credit after checking your score today. Poor credit is a common problem among consumers in the UK. This means that there are now plenty of people out there looking for quick loans with no credit check.

    While you may never be able to find a safe lender that won’t check your credit history, you can find and compare plenty of companies who can offer an amazing deal on your instant loan, regardless of your past. Just remember to compare things like interest rates, fees, and even customer service to make sure that you’re getting the deal that suits you, from a provider you can trust.

    Getting Quick Credit with a Bad Score

    Ultimately, although it takes a lot of time to build up a good credit rating, all it can take is a few simple mistakes to destroy your score completely. Anyone can miss a payment or give their money to a provider late and end up with a ruined credit score.

    The good news is that you don’t have to put yourself at risk by ignoring the FCA and searching for quick loans from companies who don’t conduct credit checks. Instead, you can look for support from a business that supports people with bad credit instead.

    Bad credit lenders understand that people make mistakes, and they’re willing to give any kind of consumer a second chance.