Are bad credit personal loans guaranteed approval – $10,000 possible? Probably not, but you can get as close to a bad credit personal guaranteed loan, up to $10,000, with online bad credit loans.
Rarely, will you find a legitimate lender that offers guarantee approval — it just doesn’t work like that whether you have good or bad credit. However, there are lenders offering online loans for bad credit that will consider all credit types for loans up to $5,000 or more.
Bad credit makes lending options tight already so bad credit personal loans guaranteed approval will be almost impossible to find. Most lenders will not consider a $5,000 or more loan unless you have a credit score of 620 or better. And, when you see a promise of “guaranteed approval” it’s likely coming from a payday lender, not a lender offering online loans for bad credit.
The goods news is that people with bad credit have options to get online loans for bad credit in the thousands, it’s just not guaranteed approval.
How to get bad credit personal loans guaranteed approval
While OppLoans does not guarantee approval for online bad credit loans, they do offer less stringent requirements for online bad credit loans up to $5,000. OppLoans helps people who may have been turned down by banks but have the income to repay an online bad credit loan.
What makes OppLoans a good choice for online bad credit loans up to $5,000 is the effortless pre-qualifying process. You find out instantly if you’re prequalified with absolutely no impact to credit scores.
Even though OppLoans doesn’t offer bad credit personal loans guaranteed approval, they will consider any credit score and give you a decision before a hard credit check is performed. Hard credit checks are only done once it’s determined you qualify for a loan.
Here’s the deal with OppLoans online bad credit loans.
OppLoans online bad credit loans
OppLoans is a direct lender based in Chicago, IL. Founded in 2009, OppLoans offers access to online bad credit loans in several states across the USA. OppLoans looks at more than a credit score and gives reliable people an opportunity to get online bad credit loans. Borrowers have the flexibility to repay the loan over a duration of time that makes sense for their lives and budget.
With OppLoans you go straight to the source. The application is submitted directly at OppLoans’ safe and secure site and within minutes you have an answer. OppLoans is a direct online lender.
OppLoans’ representatives are available to answer your questions: Monday – Friday 7am – 10pm Central Time and Saturday – Sunday 9am – 6:00pm Central Time. Online bad credit loans may be able to help right when you need them most.
Bypass the banks with online bad credit loans
No matter your credit history get the extra cash you need with online bad credit loans. Bypass the banks. Get cash fast, no matter your needs, and have funds deposited into your account as soon as the next business day.
Online bad credit loans from OppLoans can be used for debt consolidation, emergencies, repairs, major purchases, weddings, a vacation…you name it.
OppLoans offers personal loans ranging from $500 to $5,000 with repayment terms up to 60 months. Unlike banks, perfect credit is not required. Rates and repayment terms are competitive.
The application process is simple. Once you apply you’ll receive a loan offer, if qualified. Carefully review the details of the loan offer to determine if it’s right for you.
Once approved, money will be deposited directly into your bank account, typically by the next business day.
Details of OppLoans’ online bad credit loans
Apply directly from your mobile device or computer
OppLoans is an online lender that provides personal loans to consumers with less than perfect credit. OppLoans is not a payday lender. It is a real lender catering to the people banks have neglected. The application process takes about 10 minutes. A soft credit inquiry is performed using Transunion credit bureau to determine your eligibility.
Performing a soft inquiry to determine eligibility is a good policy on behalf of OppLoans because your credit score will not take a hit to find out if you are qualified. There’s no sense in wasting a hard inquiry if you’re not approved.
Easy, secure online application process involves:
- Basic questions such as name, address, employment, income details, bank account and email address are required to submit the application.
- Sources of income from employment, self-employment, retired, benefits, unemployment benefits are considered.
- Information to verify your identity to help make an instant eligibility decision.
Required credit score for an online loan
Applicants should have a minimum credit score of 500 or higher for a better chance of approval, although this is not required. But keep in mind the best APR is available to borrowers with better credit.
How OppLoans personal loans work
All credit types are welcome. People who have been told ‘no’ too many times by banks may find OppLoans as a good option for online bad credit loans.
If approved, borrowers will typically receive funds by the next business day. OppLoans allows borrowers to customize loan amounts and repayment terms to best fit your needs. Here’s how it works:
- Check your eligibility.
- If eligible, you’ll be presented with a loan offer selected just for you.
- If you’re happy with what you see, great! Otherwise, click the “Modify Loan Details” button to adjust your loan offer.
- Use the loan amount slider to select the right amount for you — from the minimum to the maximum, or anywhere in between.
- Then select the repayment schedule that best fits your budget or goals — choose a lower payment over a longer period of time to minimize the impact on your monthly cash flow, or choose a higher payment over a shorter period of time to incur less interest and pay off your loan faster.
If you sign the loan contract, a hard inquiry on your credit report is pulled. This may have an impact on your credit score for a period of time of 12 months. However, as long as you make on-time payments for the loan, your credit scores will likely improve.
Prepay your loan early with no penalty
OppLoans will never charge an application, prepayment or non-sufficient funds fee. But, if your payment is late, you may be charged a late fee in some states. OppLoans is committed to a clear and simple cost structure that provides an upfront, straightforward experience every step of the way.
Fixed monthly payments can be automatically deducted from your bank account. A reminder can be sent to you a few days before your payment is due. All you have to do is make sure there are sufficient funds in your account to avoid an unsuccessful payment fee. Your interest rate will never change.
Loan amounts up to $5,000 for any purpose
OppLoans loans range from $500 up to $5,000 available for repairs, debt consolidation, major purchase, business, auto loan, weddings, vacations, unexpected financial difficulties and more. Affordable monthly payments along with competitive fixed rates make OppLoans a good choice for online bad credit loans.
In many instances you can choose up to 3 years to repay the loan.
Review origination fee
OppLoans charges a loan origination fee of 0% to 3% of the loan amount. OppLoans deducts the fee directly from your loan amount before depositing your money, so make sure you take this fee into consideration when deciding how much you need to borrow.
Build credit with on-time monthly payments
Payments are reported to the major credit bureaus. On-time payments can help build a positive credit history. Get back on track with your finances by wisely using an online loan for bad credit. An installment loan can help build your credit as long as you pay as agreed. It may also help by giving you a better credit mix if you only have credit cards reporting on your credit reports.
Summary of OppLoans Loan Features
- Loans from $500 – $5,000 with Flexible Terms
- No Application, Prepayment or Late Fees
- Quick and Easy Online Application
- Build Credit History with Timely Payment