No credit check loans.

No credit check loans don't exist. Find out who will accept your application here.

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Representative 49.9% APR. Representative Example: Borrowing £1,000 over 12 months, repaying £103.06 per month, total repayable £1,236.72. Interest rate 49.9% (variable).

No credit check loans

If you found your way to this page, it’s probably because your credit history isn’t great and you’re looking for a lender that will offer you a loan, no questions asked. The reality is that, in most cases, credit checks are an essential and necessary part of your application. It’s for your own safety, to ensure you don’t get into financial trouble by taking on debt you cannot afford.

But I want a no credit check loan because of my bad credit history

Don’t panic. There are plenty of bad credit loan options that you can compare in the table above. All are designed for different purposes and circumstances, so check out the criteria for each loan and Choose Wisely. Our loan search tool will do the hard work for you.

No credit check loans - is it too good to be true?

In the UK, financial firms must be registered and authorised with the FCA in order to offer credit to consumers, whether it’s hire purchases, credit cards or a credit broking service. The FCA gives guidance and supervises rules on ‘Responsible Lending’.

The rules around credit checks and responsible lending can get very confusing but the main takeaway is:

LENDERS MUST HAVE A DILIGENT PROCESS IN PLACE TO DETERMINE WHETHER OR NOT AN APPLICANT IS A SUITABLE CONSUMER FOR CREDIT.

Although some lenders may not check your credit history, they still have to make sure you are who you say you are and that you can afford repayments. Your credit history, the majority of the time, will be checked.

So who doesn’t check your credit file? A good example would be some guarantor lenders. For example you may only receive a ‘soft search’ which doesn’t affect your score BUT guarantor lenders will ‘hard search’ your guarantor.

If you have found a lender that promises you money without a credit check, chances are they’re not registered with the FCA and they are not following responsible lending guidelines. Be wary and if it sounds too good to be true, it probably is.

Choose Wisely only lists lenders regulated by the FCA. You can find their FCA reference number on each product page.

Why do lenders have to check my credit history?

A number of reasons...

  • To make sure you can afford to repay what you’re looking to borrow and won’t get into difficulty.
  • To make sure you are who say you are.
  • To make sure they will get their money back.

Are bad credit loans a good option?

If you have bad credit and you’ve exhausted all alternate options, like borrowing from friends/family or using a credit builder credit card, then a bad credit loan could be a feasible option.

BE AWARE: bad credit loans come with higher interest rates than those offered by mainstream banks.

The golden rule, if you can’t afford it then don’t apply.

If you’re in financial difficulty, go to the Money Advice Service for free, confidential help and advice.

I don’t know what my credit score is. Can I check my credit report?

It’s usually a good idea to touch base with your credit file before you apply for any kind of credit. This way, you can be more realistic about what you’re able to apply for.

You can check your credit score for free using Noddle, Clearscore and Experian. Your credit score will usually be out of 1000 but some agencies use different scoring systems. All credit agencies will give you an indication of whether or not you have a bad, fair or good score.

Is there such a thing as a guaranteed approval loan?

No lender can give you a guaranteed approval without receiving sufficient information from you. You might see lenders stating their loans are 100% guaranteed, but you could be asked to pay an up front fee and they might not be regulated by the FCA. Just be cautious.

No credit check loans - the final word

The bottomline is “if it seems too good to be true, it probably is” so when you’re looking for a loan, just keep this in mind. Choose Wisely is a safe place to find credit because we only list lenders that are regulated by the FCA - cut out the hard work and Choose Wisely.

Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk