I Tried No Credit Check Personal Loans Online: Here’s The Result
This is a Q&A survey submitted to The Loan Republic by one of our regular visitors. It details one man’s experiences with one of our popular lender of online personal loans. “No credit check” was a completely new subject for him, as he had been in good credit standing until recently. Names are changed for privacy.
How Did You Find “The Loan Republic“?
I found your site when I was trying to find a way to borrow money to get my car fixed and purchase necessary tools so that I could take up a new job offer. I had been out of work for 8 months and I had been refused loans with my bank. I felt the site looked more trustworthy than other ones that had come up in my search. I did not have any past experience with credit score options. My bank said my score was too low for them to lend me the money ($2,800) because I did not fit income requirements.
What Do You like About TLR?
Your site is really well-written and easy to understand; it’s not too long with the write-ups, and I like how you keep an open dialogue with your readers. I noticed that you review lenders who aren’t sketchy like others I had seen, and also that you don’t use stigmatizing language. Bad credit isn’t shameful – thank you!
Did You Borrow From A Short term, Or Long Term Loan Lender?
I actually went with the intermediate lender you recommended after reading several reviews. I applied and straight away I was taken to a page where I could see what loan offers applied to me. It was for loan amounts between $2000 and $4000 and I could choose different payment terms. As my new job pays well I chose to pay my loan off quickly and borrowed $3,200 – a little more than I needed but it paid for my wife Katy and I to enjoy a celebration weekend. It’s been a rough year for our family.
What Was Most Important When Selecting A Lender?
That they didn’t credit check, so I wouldn’t be disqualified. I put my name, address and other details in to verify my identity and my income, and they use this to decide how much I can borrow at what cost, apparently. It works as I saw loans in the range I needed, at rates that fit my monthly budget, and I was pre-approved for these loans. My credit score didn’t matter.
How Fast Did Your Lender Pay Out?
I received the cash into my account within 48 hours.
How Was Your Experience Over The Loan Term?
It was pretty good. Everything about the loan was clear and easy to understand. I paid more in interest than I have done at my bank in previous years, but it wasn’t a huge difference and I was able to pay it off on time. I used freescorefinder.com to check my score afterwards and my credit had improved just by managing that one loan, so that was a pleasant surprise. I would have paid more in interest if I’d chosen the longest term offered to me, but again this was clear before I entered into an agreement.
Would You Recommend Your Lender To A Friend?
Yes most certainly! I used to be skeptical of online borrowing and I had always thought bad credit meant using a sketchy cash advance service at huge cost. Now I know better, and that there are safe short term loans for bad credit. No credit check doesn’t mean bad service!