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Q8. What is the required credit score to obtain a loan?

Lenders do not publish such figures on their websites since they consider other criteria in addition to your credit score when determining your eligibility. For example, you may have an excellent credit score yet a high level of debt. If the lender believes the prospective borrower's income would be insufficient to meet the payments on another loan, the application will be denied.

A person might also have a low credit score yet little to no debt. If the applicant's monthly income is adequate to repay the loan, the lender will almost certainly accept the application with an origination charge and/or a higher interest rate.

Lenders ine your work history. Lenders like stability, and if you've been in the same job for an extended period of time and don't often move employment, you're doing well. This implies there are no gaps in your salary and your income is consistent.

Q9. I have no credit; what is my credit score?

If you have no credit, your report will not include a credit score since there is insufficient information to generate one. This is referred to as “credit invisibility,” and you will generate a score after you get your first loan or credit card and have a repayment history of 3-5 months as reported to the three major credit bureaus. With a loan, your lender may report to all three credit agencies or to just one.


When payday is more than a week away and your credit score is down in the dumps, a no-credit-check loan is a great method to get quick cash. Additionally, since these internet lenders are already aware of your less-than-perfect credit, there is no need for you to have that rather uncomfortable discussion with a bank or credit union.

From the list above, we recommend MoneyMutual, BadCreditLoans, and CashUSA as the most reputable lenders. The best part is that they are legitimate lending institutions, which means you won't have to worry about fraudsters obtaining your personal information. Simply ensure you develop a repayment strategy and make all required installments on time.