Got Bad Credit? Here’s What You Need to Know About No Credit Check Loans
Safrock’s got the solution
Have you got bad credit? Are you struggling to find a lender that will offer you a loan because of this? If so, you’ve come to the right place. Safrock’s no credit check loans may be the answer to your problems!
At Safrock, we will search for lenders that can offer small loans without conducting a credit check. We find lenders that have a fresh approach to credit and will, therefore, consider applicants with bad credit. So don’t stress, you can still get a loan with bad credit!
No credit check loans explained
Essentially, they’re what the name suggests! They are loans that can be approved without conducting a credit check. If the loan is for a small amount, many lenders are willing to provide it without checking your credit history. These loans are tailored to customers with bad credit and that are unable to find lenders who are willing to help.
All loans carry some sort of risk. It’s always advisable to do some research before getting a loan, especially no credit check loans. This is to ensure that the lender you choose is reliable. However, lender-finding services such as Safrock will ensure that the lenders are reliable, trustworthy and affordable for you! We search through all the lenders to find the right one for you, so you don’t have to! So why waste time applying for hundreds of lenders? We can find lenders that may not conduct credit checks and can offer loans between $2,500 and $25,000.
What exactly is a credit check?
A credit check is essentially a review of your credit history report. A lender will typically do this before they provide you with a loan to check whether you are a trustworthy borrower. Be aware that even banks, credit card companies and prospective employers may also conduct credit checks.
Credit checks are important as it tells lenders how responsible you have previously been with your finances. A good credit score generally means that you are responsible. For example, you probably pay back all your bills and loan repayments on time. Lenders will be more likely to offer you a loan because they know they can trust you to repay it. A bad credit score may warn lenders that you may not pay them back on time. This is because you most likely have defaulted on repayments in the past. They will, therefore, be less inclined to lend you money.
To note, soft credit inquiries are when your lender only has a quick look over your credit report. This will not be recorded on your credit report. On the other hand, hard credit inquiries are when lenders conduct a detailed investigation into your credit history. This is recorded on your credit report, so you and others that look will know. Usually, lenders will do the latter, though it depends on the individual lender. Of course, lenders offering no credit check loans won’t do any of this!
How do I check if I have bad credit?
Chances are, if you’re searching for no credit check loans then you may already know that you have bad credit. However, if you’re unsure what your credit score is, then it’s wise to check via either Equifax, Experian or Illion. You can access them here. The Australian Government has approved all three bodies, meaning that they’re safe and reliable. They are obliged to provide you with a free copy of your credit history report once every twelve months. Potential lenders, employers, banks credit card companies can also be provided with a copy of your credit report on request through these sites
You’ll notice that your credit score should be between 1 and 1200. Here’s what these numbers mean with Equifax:
|Excellent||833 – 1200||It is highly unlikely that your credit report will be adversely affected in the next 12 months.|
|Very good||726 – 832||It is unlikely that your credit report will be adversely affected in the next 12 months.|
|Good||622 – 725||It is unlikely that your credit report will be adversely affected in the next 12 months.|
|Average||510 – 621||It is likely that your credit report will be adversely affected in the next 12 months.|
|Bad||0 – 509||It is more likely that your credit report will be adversely affected in the next 12 months.|
An adverse event is something that negatively affects your credit score. Examples include defaulting on repayments or being late with repayments. Credit scores below 621 are generally considered to be bad credit scores.
If you have a credit score below 621, this is generally considered as bad credit. People with credit scores below 510 usually have a hard time finding lenders willing to loan money to them. Of course, that’s where Safrock can help.
So, if I have bad credit I can apply for a no credit check loan?
Absolutely! If you have bad credit, many lenders may turn you down for a loan. However, there are still many lenders out there that will give you a fair go. One option is to apply for companies that will give you a loan with bad credit, but this can sometimes take a while. That’s why Safrock can help you find a lender that may not conduct a credit check at all.
Safrock has access to a variety of lenders that won’t look only at your credit because they know that’s not the whole story. Instead, they may have a look at things such as your employment situation, income, spending habits and bank statements. This will help the lender gain a better understanding of your financial habits. Some lenders may consider Centrelink as a form of income, so keep this in mind.
At Safrock, we can help you find those lenders that will give you a chance. If you have bad credit, searching for no credit check loans with Safrock might be the answer! We search for loans between $2,500 and $25,000 to suit most budgets.
What’s the difference between this and a payday loan?
Payday loans are small loans taken out in advance of your paycheck. You then fully pay back the loan with the money you receive from your next paycheck. It is important to note that payday loans are now illegal in Australia. Instead, better options include loans designed for those with bad credit or no credit check loans.
Why should I choose Safrock?
If you apply for a loan without a credit check, then our team at Safrock are able to help you. We compare a variety of lenders and their loan offers to find the best loan suited for you. At Safrock, we take into account your individual financial circumstances when finding a loan for you. That’s why we offer to search for lenders that don’t require a credit check. We believe that everyone is entitled to finance and bad credit history shouldn’t have to hold you back.
Our application process is quick and simple, as is our searching process. Why do all the hard work when we can do it for you? You’ll also feel at ease knowing that all your information is safe with Safrock and that you’re going to see real results. If you apply today, you could have money in no time!
Can I apply immediately?
Absolutely! We try our best for everyone to be able to apply with Safrock. However, there are a few basic eligibility requirements that you will have to comply with to apply. These are that you must:
- Be over the age of 18;
- Have a regular income into your personal bank account for at least the last three months;
- Be an Australian citizen or a permanent resident; and
- Have an active mobile number and email address.
If you tick all the boxes, then go ahead and apply with Safrock. The process is super simple to make it easy for all Aussies to have access to loans. Our application form is 100% online for your convenience. It usually takes only a couple minutes to fill out. You can fill it out anywhere – on your lunch break, walking the dog, even from your bed!
Your part is now done! Once we receive your application form, we get to work looking for the right lender for you. We consider your requirements and financial circumstances to make the best possible match. Once we find the right lender, we’ll put you in touch. They will send you a loan agreement contract, for you to review. If you’re happy with it, simply sign in and sent it back.
As soon as your lender receives the signed agreement, they’ll organise for the money to be sent to your bank account. You should have the money in no time!
It’s really as easy as that when you apply with Safrock. What are you waiting for? Apply for no credit check loans today!