Best Bad Credit Emergency Loans

An emergency loan is a lifesaver when you are in a financial crisis. Not all emergency loans are the same. There are better options available for those with poor credit than others. Bad Credit

These are the top emergency loans for people with bad credit. 

1. Online Payday Loans 

Because they don’t require credit checks, online loans are an excellent option for those with poor credit. You can also get the money you need fast with their quick approval process. 

Online loans can be costly due to high interest rates and fees. Before you decide on an online loan, make sure you compare rates and shop around. 

2. Personal loans from friends or family

Ask family and friends for personal loans if they have the money. A personal loan can offer more flexibility than credit cards or regular loans. Some lenders allow you to make monthly deposits into your account to repay the loan over time. 

A personal loan has the downside of high interest rates. If you fail to make your payments on time, your friend or relative may charge you late fees. 

3. Cash Advance on Your Credit Card 

A cash advance from your credit cards can be a great option for an emergency. It doesn’t require you to have a credit history and gives you immediate access to your funds. Cash advances are free of interest, and you only pay the fees associated with your credit cards. 

Keep in mind, however, that accessing your money may require you to pay an additional fee of 5% or more. Cash advances also have a high APR. The cost of keeping the credit line open over time will add up if you are unable to pay your advance on the due date. 

Best Bad Credit Emergency Loans

4. Online lender offers personal loans if you have really bad credit

If none of these options appeal to you, you might consider applying for a personal loan through an online lender that offers to fund to those with poor credit. These loans are quick to approve, come from reputable lenders with the resources to improve your credit score and financial situation, and are cheap than other types of loans. 


  • Fast approval: Many emergency loans can be approved quickly, often within minutes. If you have urgent cash needs, this can be a huge advantage.
  • Large range of borrowing amounts: There are many types of emergency loans, with amounts that can borrow from just a few hundred dollars up to several thousand dollars. There is likely to be an emergency loan that suits your needs.
  • No collateral is required: Emergency loans are often not as risky as other types of loans. You can apply for a loan without the need to mortgage your home or car.
  • Very low interest rates: This depends on where you live and which lender you use. These types of loans are often offered by lenders at a fraction of the cost of credit cards. 


  • Short repayment terms: Most emergency loans have a very short repayment period – typically, it takes between a few weeks and a few months. If you need to pay the loan off sooner, it is important to get extra money from another source. If you fail to repay the loan on schedule, you may be charged late fees or other penalties.
  • High fees: If you have to borrow large amounts of money, emergency loans can be costly. Before you sign anything, make sure you fully understand the costs associated with an emergency loan.
  • Poor credit history? Don’t forget it: For an emergency loan, lenders usually require excellent credit. You may not be approved for a loan if you have poor credit. 

Do you think it is wise to take out an emergency loan? It all depends on your personal circumstances. Make sure to research your options and that you understand the terms of any loan agreement before signing. 

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