Top of the page

How to Apply for Quick Loans With Bad Credit Online?

Author: Harry Jones And Facted Checked by : Shanie Capper
Last updated on : 13 July 2023

It is incredibly difficult for people with bad credit to get financial aid. This is because most banks and financial institutes will not approve loans for people with a low credit score. There is a perceived liability – regardless of whether you have the ability to make repayments or not.

This can present difficulties but there are options and as you will see below, there are companies that approve loans for bad credit online. If you have hit a rut with your credit score but need a quick cash injection, we detail six simple steps below to still get a loan.

Step 1 – Find a Suitable Online Lender

Many payday lenders and quick loan companies will still approve loans even if you have a low credit score. While a credit check is a legal requirement, the approval process is still up to the individual lender.

There are many comparison services available like My Quick Loan that allow you to find the best option available for your circumstance – including if you have a bad credit score.

All you have to do is check their terms and conditions and range of loans provided as there should be some indicator if they approve loans for people with a low credit rating.

Typically, banks and building societies will not approve loans for people with bad credit. This is why payday lenders and emergency loan lenders can be a better option.

Step 2 – Read the Terms and Conditions of Their Loans

Once you have found a suitable payday loan provider or emergency loan provider it’s vital that you read the terms and conditions. Here’s some things to look out for:

  • Maximum loan value
  • APR
  • Repayment period

The APR and repayment period are the two most important factors. APR is listed as a percentage and for this type of instant loan you will typically have a higher APR of 41% or more. This means that you pay more back overall.

The repayment period is highly important too as it dictates how many months you have to repay, and the amount.

You can opt for a shorter repayment term which will result in higher monthly repayments but will get the loan paid quicker. Alternatively you may only be able to afford lower monthly repayments which means a longer repayment period and potentially paying more overall.

Be fastidious and vigilant and read the terms and conditions fully so you know exactly what is expected and what you have to repay.

Step 3 – Complete the Application Process

When you are sure of the loan terms, you can now apply for the loan. The process is usually self-explanatory and you typically have to enter personal details and some financial information so a preliminary credit check can be completed.

Make sure that you fill everything out correctly otherwise this could cause issues with the application process.

Step 4 – Wait for Approval

Depending on the platform the loan approval can be instant and you can get notification when you have completed the application. Once approved, you may have to complete additional steps like entering payment details and sorting the repayment plan.

Step 5 – Receive your Money

After approval, the money should be sent directly to the specified method added during the application process. You can now spend it however you wish for the emergency bill or unexpected car repair!

Step 6 – Make the Loan Repayments

During the application process you have to specify a repayment method such as direct debit. Therefore, in most instances the repayment is made automatically.

All you have to do is make sure you have enough money in your account when the repayment is due! Take note of the repayment date you specified as the money is typically taken out on the same date.

Try to Raise Your Credit Score to Avoid Loan Rejection

Although it is possible to get a quick loan with a bad credit score, this is not an ideal situation. With your quick loan approved, you should try to raise your credit score to avoid future disappointment. This can be done in many ways including making consistent repayments, paying direct debits, and not defaulting on any repayments.


Warning: Late repayment of payday loans can cause you serious money problems. For help, go to