How To Borrow Without A Good Credit Score?

5 Ways To Borrow Money Without A Credit Score

A high credit score is typically needed for more substantial, long-term loans. These include vehicle finance plans, or mortgage loans. However, you can get around this if you require money fast. 

There are many financial institutions such as money lending agencies that appreciate how everybody’s situation is different. Because of this, there are a range of options for loans that are worth looking into, even if you have a bad credit score. 

There are two main types of loans: secured and unsecured. These can be accessed even if you don’t have the best credit score. Most people don’t realize that they can get a loan even if their credit score isn’t perfect. 

These are some ways that you can borrow money when you need it, without a credit score or a good credit score. 

1. Why Do I Need A Credit Score?

Firstly, it is worth thinking about the role that credit can play in your long-term financial situation. Your credit score is a three-digit number that banks and other financial institutions use this to assess how much of a risk you are. 

This means how likely you are to repay the amount borrowed with added interest, and within the agreed time period. It can pay to work towards a better credit score, but it takes time. Many people who have relatively low incomes or who have less sustainable relationships with their finances are more likely to struggle when it comes to building up their credit profile. 

People with bad credit scores typically have less flexibility and fewer options when it comes to borrowing money. Because of this, some of the ways that you can borrow money without a good credit score have been outlined below. 

2. Fast Loans

One of the most common ways that people with poor credit scores are able to borrow money is through fast loans. This is because they don’t usually need a complete background check that is as thorough as other loan application processes. As a result, these have some of the quickest approval rates. 

Personal loans, payday loans, and title loans are some of the most common forms of fast loans. Each has their own pros and cons, and it is worth comparing these before applying. Check out these payday loans no credit check for more detail. 

As a general rule, fast loans tend to provide lower amounts of money and have shorter repayment periods, as well as higher interest rates. This is because of the lack of credit check and fast approval, and it is worth being aware of these so that you are fully aware of the long-term implications. 

3. Secured Loans

Another way that you can borrow money without getting a credit check is to apply for a secured loan. This is something that uses personal assets and property as collateral, which basically means that the item or even house will be sold by the bank or financial institution if you fail to repay the loan. 

While this seems a little scary, secured loans can be used to borrow higher amounts of money if you are the sole owner of your property or vehicle. It could be worth considering a secured loan, and seeing if it applies to you. 

4. Paycheck Advance

You could ask your employer for an advance on your next paycheck. This works in a similar basic format as a loan, because you will have a certain amount of money now, which gets taken out of your paycheck at the end of the month. 

Because you will not get the money back once you have spent it, it is worth making sure this is the most suitable option for you. Think about whether you will be able to make ends meet without a particular amount at the end of the month, and use that to make your decision ahead of time. 

5. Ask A Friend 

Finally, it could be useful to have a conversation with a loved one, family member, or close friend to lend you some money. This can be ideal if you find yourself in times of financial hardship, and need to borrow money fast. 

Depending on the relationship you have with the person, you could agree to more flexible repayment periods or potentially higher amounts. However, it is important to be aware of the potential outcome of this form of borrowing. 

Getting money from a loved one is only useful if you do not take advantage of them, and repay them when you can. Failure to do so can actually take its toll on your relationship with them if you are not careful, and others are less likely to lend you money if they know that you have a poor history of repaying someone. 


There are a surprising number of ways that you can borrow money which don’t involve a comprehensive credit check. Depending on your situation, it is worth taking a look into the different types of loans which are available for people with poor credit ratings. 

Did You like the post? Share it now: