Best payday loans online 2022: Top online loans for bad credit with guaranteed approval

12:59 PM, Feb 25, 2022
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Are you in need of cash but have quite some time until the arrival of your next paycheck? If yes, online payday loans are the easiest way to get fast cash. It can happen to anyone: you may find yourself in a financial crisis and not be able to make ends meet. In that situation, you can apply for online payday loans to get some financial relief.

People with bad credit scores can also apply for payday loans. Some lending companies and assisting lenders may let poor credit scores slide and offer a loan based on steady monthly income or other worthy credentials. Though borrowers with bad credit may borrow money, they usually have to pay extraordinarily high interest rates. In short, they pay the cost of having bad credit.

Nonetheless, by choosing a trustworthy lending platform for a fast loan, you can lessen the financial pressure you're under. Of course, that is unless you are not entirely sure of the legitimacy of the lender's license. In that case, you should not accept any loans from that lender.

You can consult your state's legal forums, such as the attorney general's office, to clear your doubts. These offices will have all the details on the legal status of the direct lenders and their related companies. Don't accept any loan offer until you have checked the detailed information of the lending company you are considering.

If you are in a financial crisis, you may already be overwhelmed and not know where or how to even start looking for companies that provide online payday loans. To that end, we've done the research for you. We've compiled a comprehensive list of the best of the best. The companies listed here will help you find the best possible registered lenders.

Read on to see how we've compiled our top company list, a buying guide, and some answers to frequently asked questions.

List of Top Direct Lenders For The Best Payday Loans Online

  1. MoneyMutual - Overall Best Payday Loan Online
  2. FundsJoy: Best Payday Lender For Same Day Loan Approval
  3. BadCreditLoans - Low interest rates For Bad Credit Loans
  4. CashUSA - Easy Loans Approval For Cash Advance
  5. PersonalLoans - Top Rated Services For Personal Loans

#1. MoneyMutual - Overall Best Payday Loan Online

When it comes to providing multiple loan offers to borrowers from authentic lenders, you'll find MoneyMutual one of the most trusted lending platforms. Established in Las Vegas in 2010, MoneyMutual has connected over two million borrowers with matching lenders.

Considering their handsome customer base while being in the market only for a decade, MoneyMutual has undoubtedly made an impressive mark. The main reason behind the incredible success of this company is its extensive network of lenders.

Wherever you go online on their website to submit your application, you'll see many prospective online lenders. Generally, over a hundred lenders are online at any time. This information helps you to know that there are pretty strong chances these lenders will analyze your request soon and send you loan offers.

Some lenders may approve payday loans requested by those with low credit scores, while others require a hard credit check. However, with MoneyMutual working as a bridge between you and a wide range of lenders, you may receive instant payday loan offers even in a bad credit situation.

Moreover, MoneyMutual keeps all the personal information of all the applicants secured. One may feel scared before submitting personal financial information online, owing to the financial scams we see every day. MoneyMutual does not share your information with anyone except the lenders.


User-friendly Online Portal: The online portal of MoneyMutual provides a perfect space for the user to access and analyze all the details regarding the loan. You can find anything and everything on the website that you may require to make the right financial decision regarding loan requests. MoneyMutual provides users with thorough financial guidelines about types of fast cash loans and how each loan works.

Suppose you have any concerns about payday loans regarding your qualification, authenticity of the lender, terms and conditions of the offer, pros and cons of the loan, or any other thing. In that case, you can get answers to all of your questions at MoneyMutual.

Ease of Scrutinizing Multiple Loan Offers: In connection with the user-friendly interface of MoneyMutual, this website allows the borrower to analyze multiple bad credit loan offers simultaneously online. This feature facilitates comparing different loan offers from the lenders, thus helping borrowers make the best financial decision for them.

Zero Application Fee: The online application process of MoneyMutual is free of cost. There is no policy of paying any fee before or after submitting your application. Thus, the borrower will only have to repay the loan after the loan approval as per the contract's terms and conditions. Some lenders working with MoneyMutual may also avoid taking origination fees for the lending process.


  • Safe, secured, and swift online application process
  • Vast network of more than 100 licensed lenders ready to analyze your loan request
  • Feasibility of analyzing multiple loans offers from different lenders online
  • Availability of educational material and tools to understand the financial prospect of loan


  • Does not offer services in New York or Connecticut
  • Loan amount may vary based on monthly income

=> Click here to visit the official website of MoneyMutual

#2. FundsJoy: Best Payday Lender For Same Day Loan Approval

FundsJoy is a reputable provider of bad credit loans in the United States. It's a common misconception that FundsJoy is a direct payday lender. It's just a platform that connects borrowers and lenders.

When it comes to arranging your emergency loan, FundsJoy provides a variety of options to choose from. Over 60 lenders offer a variety of variable term and condition loans, ensuring that your urgent funding requirements are met as soon as possible. FundsJoy has created a list of minimum requirements for potential customers. You must be at least 18 years old, a US citizen, have a monthly income of at least $800, and have a bank checking account. Aside from that, lenders have eligibility criteria that you must meet to get a loan from them.


Different Types of Lenders: A variety of lenders provides you with a variety of options; each lender offers you a loan with different interest rates, policies, and terms and conditions. FundsJoy is at the top of their game because they have more than 60 lenders to choose from.

Quick and Easy Application Process: Emergency Loans, as the name implies, are used in times of crisis. This means that a particular person is either too busy or does not have enough free time on his or her hands. FundsJoy has created an application form that is so simple that it can be completed in under 10 minutes. Furthermore, Funds Joy does not require your presence at the time of submission; you can easily fill out and submit the form on their website from the comfort of your own home.

Different Types of Loans: Funds Joy allows you to apply for a variety of loans, including emergency loans, bad credit loans, payday loans, personal loans, and more. You can also apply for grants ranging from $200 to $5,000. You'll be able to find a lender willing to offer you the deal you're looking for because FundsJoy has over 60 lenders.

Safety and Security: FundsJoy created a completely secure and safe portal to meet your security requirements. To prevent additional information from being passed on to lenders, the portal only reveals the necessary information to the lender while keeping everything else confidential.


  • Excellent service
  • Fast. Reliable. Transparent
  • Easy loan process
  • Flexible terms & conditions


  • Operations in States
  • Monthly Income Limit

=> Click here to visit the official website of FundsJoy

#3. BadCreditLoans - Low interest rates For Bad Credit Loans

Founded back in 1998 in Nevada, BadCreditLoans has established its name as one of the leading online portals for connecting borrowers with potential lenders.

BadCreditLoans only functions as a bridge between the borrowers and authentic lenders. It does not have any say in the final funding decisions or the contract's terms. The lenders themselves devise the complete loan offer, including a payment plan, service charges, interest rate, and other contractual terms and conditions. BadCreditLoans only works as a linking party between the lender and the borrower. However, the online application process of BadCreditLoans is entirely free of cost.

Suppose the applicant fails to secure a personal loan from the lending network. In that case, BadCreditLoans refers to ads from different lenders and providers. It also helps any failed applicants by showing them various credit-related products and debt relief offers. On the whole, BadCreditLoans does not guarantee your loan request gets lenders' approval, but tries to provide additional alternatives in the event your loan request gets denied.

BadCreditLoans is not just a lending platform but also an exceptional educational tool to learn about your finances. The website provides the applicants complete education about different types of loans which helps them choose the most suitable option as per their credit situation.


Simple Online Application Process: Within just a few simple steps, BadCreditLoans processes your online loan application. After submitting your application, the prospective lenders will study your profile and determine your eligibility for loan approval.

Once the lenders approve your application, you will receive loan offers. Then, after thoroughly reading the terms and conditions, you can accept the loan of your choice.

It is pertinent to mention that understanding the loan offer and contractual terms is extremely important before accepting any offers. Remember, you are under no obligation to accept the loan offers from any lenders. If you think that the terms and conditions are not feasible, you can reject the proposed offer.

Protection of Borrower's Personal and Financial Information: Indeed, many people refrain from giving personal or financial information on any online portal because of security concerns. But, BadCreditLoans provides a high level of security for all the data stored on their platform with advanced encryption technology.

BadCreditLoans automatically forward your application to the lenders only. So, you can submit their online application form without any hesitation or fear of losing your information. Furthermore, the lenders only use this information to offer you a loan.

Various Financial Product Availability: BadCreditLoans offers a variety of financial assistance to the applicants. It has an extensive network of lenders and provides borrowers with other financial products. Firstly, BadCreditLoans assists in connecting the applicant with the matching lender. And then, it exposes them to a range of other financial offers, including credit repair, ads from third-party lenders and other financial services.


  • Variety of financial assistance through various categories of personal loans
  • Fast transfer of funds within a single business day after loan approval
  • The application process is free of cost


  • Relatively high-interest rate even for a small loan amount 
  • Additional ads for denied applicants may be confusing

=> Click here to visit the official website of Bad Credit Loans

#4. - Easy Loans Approval For Cash Advance

Based in Las Vegas, is among America's leading online platforms to get payday loans. It is known for providing short-term personal loans with reasonable terms. Borrowers can apply for personal loans with complete assurance of security and protection of their personal and financial information as they have reached several major credit bureaus.

The online application process at is free of cost. Furthermore, the whole process takes no more than 10-15 minutes in total. Depending upon the borrower's financial profile, matches them with different prospective lenders. Then, utilizing an extensive group of trusted and authorized lenders and third-party lending networks, shares borrowers' applications with a wide range of funding partners. Lenders make loan offers after thoroughly analyzing the borrower's application, credit history, and current employment record. works in association with both state-licensed lenders and tribal lenders. There is a difference between the service charges of both types of lenders. Tribal lenders are expensive when compared to state lenders. Plus, tribal lenders follow tribal laws and federal laws, but not state laws, whereas state-licensed lenders comply with state laws.

The eligibility criterion set by is fundamental. The applicant must be 18 years of age or older, have US citizenship, earn at least $1000 per month, have a bank account, and provide contact details.


Automated Match with Prospective Matching Lenders: functions as an excellent bridge between the borrowers and their probable lenders. Its automatic analysis mechanism scrutinizes online applications and sends them to the matching lenders. Interested lenders personally analyze the applications and decide on loan offers. What's more, the whole application process is free of any bias. does not discriminate against any application based on gender, race, or ethnicity; and provides an equal opportunity of getting a loan to every applicant.

Unsecured Online Payday Loans: Borrowers can get unsecured payday loans from Getting an unsecured loan is an ideal feature for borrowers, as they don't need to pledge any of their prized possession to guarantee repayment. This means that in case of failure to repay the scheduled installment or total amount, the lender cannot seize the borrower's assets.

No Hard Check of Credit: does not perform any hard credit checks. This stand-out feature of is beneficial for people who are in a bad credit situation. If the intended borrower unfortunately does not receive any loan offers from the lenders, simply applying for a loan on this platform will not negatively impact their credit score. But, do remember that lenders will perform a thorough credit check before offering you a loan. A complete analysis of your financial profile will assure the lenders of repayment of their funds.


  • Risk-free application process with security of personal information
  • Possibility of loan offers from lenders for borrowers with bad credit
  • Manageable payment plan with reasonable interest rates


  • Proof of employment record required for loan approval
  • Stricter eligibility requirements

=> Click here to visit the official website of CashUSA

#5. PersonalLoans - Top Rated Services For Personal Loans is another reliable lending company acknowledged for providing online personal loans to its consumers quickly and conveniently. Personal started operating in 2017 in Utah. By helping a vast number of borrowers, this company has become one of the most authentic and trustworthy names in the market.

Personal has a vast network of money lenders and third-party lending platforms. An extensive network of lenders increases the possibility of loan approval. Personal offers both short-term and long-term installment loans for any personal reason. The online application process works swiftly and efficiently. It allows you to get the required loan money within one business day.

However, it is essential to note that the company has no role in formatting the repayment plan. The interest rate, repayment schedule, and loan offer entirely depend on the lender.

That said, one of the highlighting characteristics of Personal is its flexible repayment schedule. Generally, payday loans are small. In most states, the maximum amount of money you can apply for through a payday loan is $500. However, suppose that you need a large sum of money for any personal reason, such as medical expenses or automotive installments. In that case, Personal can offer you a loan in other categories.

Payday loans generally assist with a few hundred dollars only so that you can opt for other loaning options depending upon your financial need. Personal offers complete guidelines regarding maximum loan amount, repayment schedule, and interest rate beforehand, thus helping you make the right decision in the end.

Personal is the best platform to get personal loans, especially in a bad credit situation.


Connection with Authorized and Reputable Lending Network: Personal works as a bridge between the borrower and the lender. Its goal is to connect the borrowers with reliable lenders who offer feasible repayment plans. With a large group of lenders working with Personal, there is a strong possibility of getting loan offers. The online application process at Personal is not only efficient and straightforward but free of cost as well.

Upfront Payment Policies: When you are desperate for fast cash, there are pretty strong chances that you may miss some crucial contractual details. Though sliding the critical clauses is possible, it is certainly not wise. In this regard, Personal may prove helpful as all the pros and cons of the payday loan are visible on their online portal. Plus, when you request a loan, Personal gives you a thorough understanding of all the legal frameworks of your state's legislature for the payday loan.

Provision of Educational Resources and Tools: Personal provides payday loans convenience while educating the borrower of future consequences. With thorough information regarding the personal loan process from its online portal, it becomes easy for the borrower to find the best option considering their specific personal emergency. Personal thoroughly guides you about the types of personal loans you can receive from their platform.


  • Flexible repayment plan
  • A massive network of lenders
  • Offer short-term loans for any personal reason


  • Lenders may perform a hard check on your credit history
  • Not quite as easy of a process for those with bad credit

=> Click here to visit the official website of Personal Loans

How We Made This List Of Installment Loans For Bad Credit 

Before formulating these guidelines about the best online payday loan providers, we carefully researched several online lending platforms. And indeed, we came across many names during our research. We shortened the list by narrowing it down to only the companies with a legally approved system. Then we further scrutinized the list based on their networks of legitimate lenders. Finally, we removed any companies that only considered borrowers with good credit.

We found four companies that stood out from our extensive research and meticulous process, all of which are authentic and have a secure legal framework. We have found these companies to be trustworthy, and we highly recommend all of them.

What We Looked For

People who opt for online payday loans need fast cash. In case of emergency, people may not have extra time to research all of the lending platforms. To ease the process for you, we have done the research. We have checked the online payday lending platforms based on the following crucial features so that you don't need to do any prior investigation.

  • Security of Personal Data: Privacy of financial information is a significant concern, particularly on an online portal. Therefore, we ensured that the lending platforms and the assisting lenders did not exploit borrowers' data.
  • Percentage of Interest Rate: Unfortunately, payday loans interest rates are sky-high across the board. That said, we chose the companies with the most competitive interest rates compared to market standards.
  • Licensed: We chose the licensed lending platforms that work with a large group of legally operating lenders.
  • Upfront Presentation of Policies: Seeking a loan is not something you do every day. Thus, you may not be aware of possible hidden charges from predatory loan companies. In those cases, you may find yourself with an additional financial burden when the hidden charges from the lending company are revealed. Rather than being relieved of the initial financial headache that had you looking for the payday loan, you would be in an even worse situation. Our chosen companies have no hidden costs, and lenders write everything in detail in the contract. Therefore, you will not have to worry about any nasty surprises down the line. 

Buying Guide: Important Things to Know Before Applying for Online Payday Loans

  • Calculate Exactly How Much Instant Cash You Need

Approval of online payday loans grants you instant cash to cater to your immediate expenses. Those who receive paychecks monthly have to go through the whole month on a single check. This can be especially difficult when costs are booked for the next paycheck that has not even arrived. In such pressed times, if a financial emergency comes, a payday loan can save the day.

However, because of high interest rates, it is crucially important to be sure of the exact amount you need. Calculate the necessary cash required and then apply for the payday loan.

  • Payday Loans are a Short-term Financial Arrangement

Online payday loans are perfect short-term loans to get benefits when facing a cash crunch. However, it is vitally important to remember that temporary help is a specific arrangement for your rescue in a dire situation. Consider payday loans as a quick fix. Most people apply for a loan of a few hundred dollars, and the repayment with interest is over about two weeks.

Moreover, as the interest rate is relatively high in payday loans, you must have a valid reason to apply. That's why it is wise only to apply for a payday loan when you have no other option left, as repaying it is difficult due to the interest rates.

  • Understand Your Financial Situation

Although you will surely apply for a payday loan to fulfill your financial needs, it is wise to gauge your financial status. As mentioned above, a payday loan is a temporary financial arrangement. So, only apply for a specific amount of money when you are sure that you'll be able to pay it back with interest. Having a repayment plan before applying for a loan is necessary to avoid falling into a debt trap. Go through your expenses for the following month, as a certain percentage of your next paycheck will surely need to be used to repay the loan.

  • Thoroughly Read the Terms and Conditions

Before signing any contract, it is advisable to read the terms and conditions thoroughly. This is particularly important when you are applying for a payday loan online. Lenders will present their terms and conditions that apply specifically to your profile and financial situation.

Carefully read these terms and conditions and make sure that you are well aware of all the clauses in detail. The financial terms can be hard to understand for many people. You may ask for expert guidance if specific clauses seem confusing. Remember that you are free to accept or decline a loan offer from a lender or a lending company.

  • Understand the Risks Involved

Doing research is of crucial importance to apply for a loan online. This includes considering all essential factors, including the authenticity of the lending firms, interest rates, and prospective financial risks. Failing to calculate the impact of payday loans on your future financial status may bring more financial difficulties later on.

First, be sure the lending firm or the lenders are legitimate. Then, compare the interest rates of different lenders. Last but not least, understand the risks of late repayment.

The best thing about online payday loans is that lending companies offer loans to borrowers despite lousy credit situations. But at the same time, lenders make sure that borrowers understand the level of risk in providing loans with bad credit.

Considering these risks, lenders format the repayment plan and terms and conditions of the contract. One additional consideration is that if the borrower falls behind the repayment schedule, the lender may compensate. In that case, though, you may have to pay an extra fee.

It is advisable to consider all these risks before saying yes to the loan offer.

Frequently Asked Questions About Same Day Loans 

  1. Are there any legitimate online payday loans available?

Yes, all of the lending platforms we discussed in this article are legitimate. These companies all operate legally with genuine lenders.

That said, the concern regarding the legitimacy of online payday loan providers is undoubtedly understandable. With increased availability of lenders on the internet, it has become challenging to tell apart scammers from genuine options.

However, there are specific tips to check the legitimacy of online payday lenders.

First of all, a lender requires a operating license along with permission to operate in your state. So, before engaging with any online lender, check the company's website. The operating license to work in your state will be visible on the website.

Only apply on the online money lending platforms if the lender has an authentic working license to work specifically in the state where you live in. If the lender does not have permission to operate in your state but is still offering you a loan, then there are strong chances that it's a scam. In that case, it's advisable to decline the offer.

  1. What are the basic requirements to apply for an online payday loan?

There are not too many complicated requirements to apply for online payday loans. To be eligible for payday loans, the applicant must be 18 years old or above, have US citizenship or permanent residency, and must have steady monthly earnings of a minimum of $1000 after-tax. Moreover, the applicant needs to present valid contact information, a social security number, and bank account details.

These are just the basic requirements to apply for an online payday loan. The money lending platforms only check your eligibility through these documents. Meeting these criteria does not guarantee you loan offers.

While going through your application, the lending company or the prospective lender will also conduct a soft credit check. This process will not affect your credit score; instead, it will only help the lender analyze your credit situation and make an offer accordingly.

  1. Do payday loan rules vary on the basis of location?

Yes, the rules and regulations for payday loans are different in every state. It doesn't matter whether you are applying offline or online; the same laws devised in your state will apply in both cases.

Many money lending companies operate in all states except a few for legal issues. Leading companies that have business terms that don't align with specific state laws avoid doing business in these states. In those states, such companies can't even operate online without stark legal penalties.

Unfortunately, if you live in a state where payday loan provision is illegal, you cannot apply for one. Thus, it is wise to first check your state's legal standing on this matter before applying for an online loan.

Plus, the states that allow payday loans may do so with some restrictions. These restrictions may include a certain interest rate or a specific number of loans an individual can accept.

  1. Can I get an online payday loan with bad credit?

The simple answer is yes. You can get an online payday loan with a bad credit score. However, a loan offer in such a situation comes with a high interest rate. The rule is simple: the better the credit score, the lower the interest rate.

Generally, credit scores range from 300 to 850. If your credit score is somewhere in the 300s to 500s, it is below average, so you'll have to pay a higher interest rate on a loan.

However, having bad credit does not mean disapproval of your payday loan application. Your loan can still get approved by a lender. Credit history is not the only thing the money lenders consider.

If you have a stable source of income with the required minimum monthly income, you may get a loan offer from a prospective lender. For example, MoneyMutual requires an income of at least $800 a month. Suppose someone who has a steady monthly income of $800 or more applies for a loan at MoneyMutual. Then, despite having a bad credit score, they may get loan offers from money lenders.

  1. What are the advantages of online payday loans?

In desperate times of financial crisis, a payday loan can get you immediate money. When you have no other option, a payday loan can be a way to get cash right away. Getting cash in a pinch is the main reason many people prefer applying for a payday loan.

The type of emergency varies from person to person, depending upon the situation. The best thing is that if you qualify, you may receive funds in your account within the same business day. Moreover, payday loans quickly and easily get approved even with bad credit situations.

  1. Are there any disadvantages of online payday loans?

Although a payday loan is easy to get, it still has some downsides. First of all, it often comes with hefty interest rates.

Secondly, as a payday loan is expensive, it may render the borrower unable to manage their monthly expenses. Suppose your monthly income is not enough to pay your rent and other monthly costs along with repayment of your loan. In that case, you may find yourself in a dire financial crisis in the following month.

Another downside of a payday loan is its challenging repayment schedule. Payday loans usually do not have lenient payment plans and are usually due within two weeks. Plus, online money lenders have access to the borrower's bank account details. They collect the pending installment themselves from the account.

However, the money lending platforms we have recommended here offer relatively easy and manageable repayment schedules.

Best Online Payday Loans : Conclusion

A payday loan is one of the easiest ways to get emergency cash. But repayment of this loan may bring more trouble than ease if you don't use a reliable lending company.

Many borrowers cannot pay back the loans within the specified time and often end up taking a new loan to pay the previous loan. This cycle of debt bound the borrowers in the infinite loop of loans. Moreover, some lenders may exploit your terrible financial situation to keep you in a debt trap. Eventually, you may find yourself in a more difficult situation than ever before. It is imperative to get in touch with trustworthy lending companies for these reasons. Getting in touch with a reputable lending company can help you make an excellent financial decision.

We hope that our list of best lending companies for online payday loans will help you make the right decision. It is impossible to research various lending platforms when dealing with a financial emergency. However, you can count on all these lending companies to provide the best possible financial guidelines, along with a trustworthy network of lenders.

These are reputable companies, completely following state's laws. What's more, the lenders working under their platforms are highly respected and reliable. Moreover, you can analyze multiple offers. In case the conditions of the contract are not suitable for you, you can reject the loan offer as well.

You'll find yourself dealing with a secure, swift, and dependable platform no matter which one you choose.

The ABC15 Arizona Let Joe Know Team finds solutions to everyday consumer problems.