Best Payday Loan Alternatives of May 2022

ElitePersonalFinance
Last Update: August 10, 2021

We at ElitePersonalFinance strongly recommend that you stay away from payday loans because:

  • Payday loans are predatory.
  • Their APR average at 400%.
  • They often lead people into a debt cycle.
And !!!
  • There are many more options available, even for those with really bad credit.
Here they are:

Best Debt Consolidation Loans for Bad Credit 2022 Try them if you already have many loans and you are with bad credit.

Best Alternative Payday Loans 2022. Try them if you can’t get approved for regular payday loans.

Best Loans for Really Bad Credit 2022. Try them if you are with really bad credit.

Best Auto Title Loans for Really Bad Credit 2022. Try them if you are with really bad credit.

Amount:

$100 - $15,000

Min. Credit Score:

0

APR:

5.99% - 35.99%

Approval:

< 1 Day

Terms:

1 - 72 Months

Amount:

$100 - $40,000

Min. Credit Score:

0

APR:

Vary

Approval:

< 1 Day

Terms:

1 – 60 Months

Amount:

$100 - $15,000

Min. Credit Score:

0

APR:

5.99% - 35.99%

Approval:

< 1 Day

Terms:

1 - 60 Months

Amount:

$100 - $10,000

Min. Credit Score:

0

APR:

5.99% - 35.99%

Approval:

< 1 Day

Terms:

1 - 60 Months

1101 Reviews
Amount:

$100 - $50,000

Min. Credit Score:

0

APR:

Vary

Approval:

< 1 Day

Terms:

1 - 60 Months

1247 Reviews
Amount:

$100 - $5,000

Min. Credit Score:

0

APR:

Vary

Approval:

< 1 Day

Terms:

1 - 36 Months

1450 Reviews
Amount:

$500 - $4,000

Min. Credit Score:

0

APR:

59% - 160%

Approval:

< 1 Day

Terms:

9 - 18 Months

Alternative Payday Loan
More Information

We recommend alternative payday loans for those with really bad credit who can't qualify for a personal loan. These companies are more expensive than personal loans but much better than payday loans. The company offers loan amounts ranging from $500 to $4,000, with APRs that range from 59% to 160%. Loan duration range from 9 months to 18 months, but people can choose to give their money back in a month. OppLoans charges zero prepayment penalties. Their loans are unsecured, which means no upfront collateral is required, and as you continue to make on-time payments, you build your credit score in the process. Moreover, if your loan is approved, you can receive funds in as little as one business day.

Pros:
  • Quick approval process.
  • Those with poor credit can still qualify.
  • OppLoans offers installment loans.
  • Loans are unsecured and do not require any collateral.
  • There are no prepayment penalties.
  • OppLoans offers refinancing options to select borrowers.
  • Alternative loan sites like OppLoans have lower APRs than payday or car title loans.
  • No origination fees.
Cons: Best for: Really Bad Credit

OppLoans is alternative payday loan. Alternative payday loans approve people with really bad credit, who can’t qualify for a personal loan. Alternative payday loans are times cheaper than traditional payday loans!

1596 Reviews
Amount:

$1,000 - $15,000

Min. Credit Score:

0

APR:

34% - 155%

Approval:

1 Day

Terms:

6 – 60 Months

3259 Reviews
Amount:

$500 - $5,000

Min. Credit Score: 0 APR:

60% - 299%

Approval:

1 Day

Terms:

4 - 26 Months

1589 Reviews
Amount:

$50 - $500

Min. Credit Score: 0 APR:

151% - 257%

Approval:

1 Day

Terms:

1 - 24 Months

1537 Reviews
Amount:

$50 - $1,000

Min. Credit Score: 0 APR:

35.99% - 211%

Approval:

1 Day

Terms:

1 - 6 Months

1370 Reviews
Amount:

$500 - $10,000

Min. Credit Score:

0

APR:

5.99% - 35.99%

Approval:

< 1 Day

Terms:

3 - 36 Months

Really Bad Credit
More Information

When we talk about bad credit loans, BadCreditLoans.com should always be at the top of our list! And there is a good reason for that.  BadCreditLoans have helped millions get a personal loan, while so many people still pay insane interest on their payday loans. BadCreditLoans.com is a leading company helping people with really bad credit. They are NOT a payday loan company! They are a huge marketplace connecting people with bad credit with lenders offering UNSECURED bad credit loans. The company offers loans of $500 to $10,000, APR 5.99% to 35.99%. And bad credit is always approved ... in less than a day. In fact, this is the most successful personal loans company for bad credit that we at ElitePersonalFinance know. Whether you want to get a bad credit loan or refinance your existing payday loans with one cheaper loan, try BadCreditLoans.

Pros:
  • The Best in The Bad Credit Business!
  • Easy and fast approval.
  • Unsecured loans.
  • Those with really bad credit get approved.
  • APRs are in the personal loan range, which means less than 5.99% to 35.99%.
  • Not a payday loan company.
  • Amount of up to $10,000.
  • Huge lending network.
  • Free to register and no obligation to accept any offer.
  • The minimum credit score required is 0.
  • No hard inquiry on your credit score, so registering won't lower your credit score.
Cons:
  • For those with really bad credit, expect high APRs ranging from 15% to 35.99%.
  • People with really bad credit can’t expect to qualify for the highest amount of $10,000, but they can expect up to $1,500.
  • Not all loans get approved.
Best for: Really Bad Credit