Yes, you may be able to get a payday loan with bad credit. A low credit score does not automatically disqualify you, because payday loan approval focuses more on your current income and ability to repay than on your credit history alone.
This is different from many banks and credit unions, where your credit score and past borrowing history can play a larger role. With a payday loan, what matters most to us is whether you have regular income and enough money to repay the loan when it is due.
You will usually need proof of income, an active checking or savings account or an eligible prepaid card, and a government-issued ID. If you meet the requirements, bad credit may not stop you from seeing if you pre-qualify.
Payday loans are designed for short-term borrowing. In most states, you repay the loan plus fees in one payment, typically within 14 to 30 days, often on your next payday. In Colorado and Ohio, the law sets a longer term, with payments over several months.
In Arizona, Georgia, North Carolina, and Virginia, where payday loans are not allowed, we offer installment loans instead, repaid in set payments over time.
Funding and Costs With Bad Credit
Fast funding: If you are approved and sign before 11:30 AM ET, you may get your money as soon as the same business day.*
Cost: Bad credit may be accepted, but payday loans can be expensive. In most states, a typical fee is about $15 per $100 borrowed, which works out to a high APR because the repayment period is short.
With Superb Cash Advance, you can borrow up to $500 in most states, depending on state law, and apply online or at one of our locations.
Key Takeaways
- Bad credit may not stop you from qualifying. We focus more on your income and ability to repay than on your credit score alone.
- Checking your eligibility does not have to hurt your credit. You can see if you pre-qualify and get a loan estimate before moving forward.
- A hard credit inquiry may come later. If required, it may lower your credit score.
- Some things can still lead to a denial. These may include income that is too low, an existing loan restricted by state law, or a closed bank account.
- Payday loans are not available in every state. Where they are not allowed, we may offer an installment loan instead.
- Approval is never guaranteed. Avoid lenders that promise approval without reviewing your information or ask for an upfront fee.
- Consider the cost before borrowing. Compare cheaper options first and borrow only what you can afford to repay.
What Is Considered Bad Credit?
Bad credit usually means a FICO score in the lowest ranges of a scale that runs from 300 to 850. Experian groups FICO scores this way:
| FICO score | Rating |
|---|---|
| 300 to 579 | Poor |
| 580 to 669 | Fair |
| 670 to 739 | Good |
| 740 to 799 | Very Good |
| 800 to 850 | Exceptional |
What Credit Score Do You Need for a Payday Loan?
No range on that scale rules you out: there is no minimum credit score for a payday loan, also called a cash advance, with Superb Cash Advance, because the loan is paid back out of your income.
So when you apply, we look at four things:
- Regular income: how much money you get from a job, benefits, or another source you count on
- How steady it is: how often your income arrives and whether it comes on a set schedule
- The legal limit: any cap your state’s law sets on the loan amount, explained in payday loans in your state
- Ability to repay: whether the payment leaves enough of your next paycheck or other regular income for your bills
If a bank or another lender turned you down because of your credit, you are still welcome to apply with us and get a free estimate if you pre-qualify, with no hard credit check to get started.
How Does Your Credit Affect Your Interest Rate?
With many types of loans, a lower credit score can mean a higher interest rate, because the lender sees more risk.
Payday loans work differently.
With our payday loans, your fee is based on how much you borrow and your state’s rules, not on your credit score alone. Many states set the most a payday lender can charge, and your estimate shows your exact fee and APR before you sign.
Some examples of how your loan can look if you have bad credit and live in one of these states:
| State and loan | Cost | You repay |
|---|---|---|
| California, $300 check, about $255 to you | $45 fee, about 460% APR | $300, in 14 days |
| Florida, $500 | $55 fee, about 287% APR | $555, in 14 days |
| Texas, $300 | About $60, about 521% APR | About $360, in about 2 weeks |
| Colorado, $500 | About $53.79, 36% APR | About $553.79, 6 payments of about $92.30 |
| Ohio, $500 | About $232, about 145% APR | About $732, 6 payments of about $122 |
California, Florida, and Colorado show each state’s legal maximum. Texas sets no fee cap, so its example is representative, as is Ohio’s. APR is the cost shown as a yearly rate, so a short loan shows a high APR, and your exact fee, APR, and total depend on your loan amount and term.
Will Applying Lower Your Credit Score?
Applying and getting a quote will not lower your score, because the quote uses only a soft credit inquiry, a light check that does not count against your score.
If you are approved, a hard credit inquiry and a check of national databases may follow before you sign and your loan is funded. A hard inquiry can lower your score.
We do not report on-time payments to Equifax, Experian, or TransUnion, so a payday loan will not build your credit.
If a loan goes unpaid and is sent to a collection agency, the agency can report it, and a collection account can stay on your credit report for up to 7 years.
If a payment looks hard to make, call us before your due date. Wages can be garnished only if a lender sues you and wins a court judgment. For each step of the credit check, see what happens when you apply for a cash advance.
What Can Lead to a No, and How Can You Improve Your Chances?
These are the things that can lead to a no, and most of them you can fix before you apply:
| What can lead to a no | What you can do |
|---|---|
| Income too low or not steady | Ask for less, and show proof of income |
| Another payday loan still open | Repay it before you apply |
| A state database shows you at the limit | Pay down what you owe first |
| Bank account closed or often overdrawn | Use an active checking or savings account or an eligible prepaid card |
| ID or income we cannot verify | Use documents that show the same name |
| Too young, or living outside our states | These rules cannot be changed |
An open payday loan stops a new one where your state allows only one: in Florida, one at a time, and in California, one with the same lender.
Some states keep a database, a record of every payday loan in your name, and use it to enforce a limit set by law, for example, $600 at one time in Kentucky and $500 in Alabama.
You must be 18, or 19 in Alabama, and live in a state where we lend.
Steady income, matching documents, and no other open payday loan may improve your chances. A low score on its own is not one of these reasons, because the ones above show whether the loan can be repaid on time, with less risk for both of us.
Are Bad Credit Loans With Guaranteed Approval Available?
No, we review your income, bank account, and details before we can say yes, and legitimate lenders do the same before they promise anything, so an offer of guaranteed approval for bad credit is a warning sign.
Watch for these red flags in offers aimed at people with bad credit:
- A promise before any review: a loan offered no matter what your credit, income, or bank account looks like
- A fee up front: a charge you must pay before the loan is granted, which the FTC calls a cue to walk away
- No license: a lender that is not licensed where you live, which the state office that oversees lenders can confirm
The FTC’s guide to advance-fee loan scams says it plainly: “Banks and other legitimate lenders won’t promise or guarantee you a loan or credit before you apply.”
With us, you can stop at any point before you sign.
How Do You Apply for a Payday Loan With Bad Credit?
You do not need to fix your credit first. Applying takes three steps:
- Apply online in minutes. Use our online application on your phone or computer.
- Review your estimate. If you pre-qualify, you get a free, no-obligation loan estimate. Compare it with other options before you sign.
- Sign and get your money. Funds go to your bank account, or in some states you collect cash at the store.
For what happens at each step, see how our loan process works.
Frequently Asked Questions
Can I Get a Payday Loan With a 500 Credit Score?
Yes, you can apply for a payday loan with a 500 credit score, even though it sits in the lowest FICO range.
What can stop an application is low or unsteady income, an open loan your state limits, a closed bank account, or ID we cannot verify, as shown in what can lead to a no.
Can I Get a Payday Loan if My Income Is From Benefits?
Yes, regular income from benefits, retirement, or self-employment can count, as long as you can verify it.
What matters most is that it arrives regularly, because your payment is usually due when that income comes in. Under the federal Equal Credit Opportunity Act, a lender cannot discriminate against you because your income comes from public assistance.
Can I Get a $1,000 or $2,000 Payday Loan With Bad Credit?
No, a $1,000 or $2,000 payday loan is more than we lend in any state, even where the law allows more.
For example, Michigan law allows $600, and Ohio’s short-term loan law sets $1,000, but we cap our payday loans at $500. If you need more and your state’s law allows it, a different licensed lender may be able to lend you more.
In California, payday loans are limited to a $300 check, including the fee, so you receive about $255 in cash.
Where payday lending is not allowed, our installment loans can be larger.
Ask only for what your income can repay by your due date. If $500 covers your need, How to Get a $500 Cash Advance Fast walks through it.
How Can I Improve My Credit Score?
In most cases, your score improves over time when you pay your loans and credit cards on time and keep your balances low, as the CFPB explains.
You can also check your credit reports for free at AnnualCreditReport.com and dispute any errors you find.
A payday loan from us will not build your credit, as explained in will applying lower your credit score.
