Top 9 Bad Credit Long Term Loans Guaranteed Approval

Having bad credit is very traumatizing especially when you visit banks and other financial institutions to get a loan only for them to turn down your request. Despite that, there are exceptions. Some financial institutions have bad credit long term loans guaranteed approval whereby you can benefit no matter how bad your credit record is. The lenders will still do some scrutiny to determine how much money to give you.

These loans may come in the form of items whereby you can get your dream item which could be a TV, a sound system or a car and pay gradually in installments. You may also get real cash loans to spend on important issues such as medical bills, school fees, farming among other needs. You have to sign an agreement on how you will be paying the loans till you settle the debts.

In this article, you will learn how to get first-time personal loans with no credit history as well. Most students and people who have never used banking services have no credit records. Most banks find it difficult to determine their ability to pay back loans. If you belong to such a category of people, you should worry less since there is a solution for you. You will build your credit with time.

What is a Credit Score?

Bad Credit Long Term Loans Guaranteed Approval

If you are hearing this for the first time, then you must be wondering what credit is. Let me explain it to you so that you can clearly understand the concept. A credit score refers to the creditworthiness of an individual.

It is measured by the FICO score. To give you a genuine credit score, FICO gets information about your loan repayment history and other details from Equifax, Experian, and TransUnion. The three companies keep data concerning an individual’s financial records.

FICO scores range from 300-850, with 300 being very poor while 850 is excellent. In fact, a credit score below 580 is a poor one. Many lenders will not attempt to lend you if you are within this score since chances of repaying are small.

Why Do Lenders Check Loan Applicant’s Credit Score?

As I mentioned before, a credit score refers to the creditworthiness of an individual. Your score determines whether you can pay your loan or not. Financial institutions do not want to assume your ability to pay a loan.

The level of your score determines the amount you can receive as a loan. Very low credit scores may not qualify for loans while high credit scores may qualify for higher loans. Several factors contribute to your credit score. They include;

  • Amount owed
  • Length of credit history
  • Payment history
  • Types of credit and
  • New credit

Can I get a Personal Loan if I have a Bad Credit Score?

Personal loans are mostly emergency loans that do not require you to have collateral. Being an emergency loan, it will be unfair for lenders to ask for the security of the loan. However, your credit score may count a lot when applying for these loans.

It is not easy to get a loan if your credit falls below 550. Most financial institutions will require you to have a Consigner who will stand in for you so as to get the loan. Your consigner should have a good credit record so as to make the application successful.

Some lenders will go ahead and give you an unsecured loan even without a guarantor. However, they might limit you to a certain score. For instance, Wells Fargo requires you to have a 660 minimum credit score to get unsecured. American Express and Discover also consider credit scores above 660 for personal loans.

Moreover, borrowers can get personal loans from a credit union as long as they have consigners. Some credit unions will offer small loans as long as you have a savings account with substantial savings to secure the loan.

Is it Possible to Get a First Time Home Loans with a Bad Credit?

Most financial institutions will give you a home loan if you have bad credit. However, you may have to pay a down payment amount and then pay the rest slowly. Although you can get first time home loans with zero down, you may end up paying a lot of money in the long run than if you make a deposit.

Home loan lenders look at various aspects before lending you. First, they check the down payment you have to make. Being able to make a larger down payment signals the lenders that you can pay the loan and vice versa.

Again, the lender will calculate your debt to income ratio. How many car loans, mortgage loans, student loans among others do you have? Having a higher debt as compared to your income signals that you are unable to pay a loan and vice versa.

Another factor lenders look at is your income and assets. How much do you earn? How much do you own? If you have many assets and earning a good salary, then you have the ability to pay your loan. If you have a good salary, the length of income is also crucial. A good salary over a long period of time will give the lenders the confidence to give you a loan.

The last factor is a cosigner. If you have a cosigner with a good credit record, you are likely going to get a home loan. A cosigner with a poor credit record will make you miss a loan.

A cosigner is necessary for those who need to apply for personal loans for students with no income. As a cosigner, the lender can follow you if the student is unable to pay the loan.

What Are The Top 9 Bad Credit Long Term Loans Guaranteed Approvals?

My curiosity to discover the lenders who give loans to people with bad credit led me to the following financial institutions.

1) CashUSA

The company approves loans in minutes. It is not like some institutions that take ages to approve your loan applications. Moreover, all credit scores are acceptable at If you have 300, you are welcomed. The same applies to a person with even a score of 850.

The interest rate range is 5.99% – 35.99 depending on your score. The lower your score, the higher your interest so as to cover up the risk. The loan period is 3 to 72 Months. You will have enough time to repay your loan within the given period. The application is fast and simple over the internet. Your data security is also secure.

2) BadCreditLoans has been helping people with bad credit since 1998. The company connects you with lenders who work with the company to offer loans to the needy. The loan amount range is $500 to $5,000 the better your credit score, the higher your loan limit.

Upon applying, expect to get your money the following day since the company does not delay that much. The loan repayment period is 3 to 60 Months. The duration varies with the amount of loan approved.

Are you interested in the loan details? If so, then begin your application. Your data remains confidential as the company will safeguard it.

3) PersonalLoans

How much loan do you want? Is your credit score an issue with your bank? Worry not as you have come to the right place. gives loans starting from $500 to $35,000. If your score is very good, you can qualify for a larger amount and vice versa. No one will give you a lot of money if he or she is not sure whether you will repay. is available in all 50 states of America. There is a 100% probability you can access within your state. The repayment period is 3 to 72 Months while the interest rate is 5.99% – 35.99%.

4) MoneyMutual

MoneyMutual mostly gives short term loans. However, long term loans can still be available. For short term loans, you can get a loan of up to $2,500. There is no specific repayment time for the loans. Interest rates also vary with the amount.

Application is online and takes about five minutes and funds reflect in your account within 24 hours. You can be sure that you are dealing with a credible financial institution since MoneyMutual has trust by over two million people. One thing you need to know is that MoneyMutual does not operate in New York.

5) LendingTree

LendingTree offers loans for home purchase, home equity, refinance and reverse mortgages. The application time is very short. It takes about seven minutes to get application feedback. Get up to five different offers to choose which one favors you.

Since it started operation in 1996, LendingTree has served more than 55 million loan requests and more than 250 billion closed loan transactions. It continues to serve people diligently up to today. The probability of you receiving a positive response upon application for a loan is high. Furthermore, registering with LendingTree is simple and secure. Your data is at safe hands. Interest rates vary with the applicant.

6) Wells Fargo Home Mortgage

Wells Fargo is a well-known company that operates in the field of finance and security. The company has been operating since 1852. It brings you the Wells Fargo Home Mortgage to help you get your own home. The loan program considers people with limited credit history, lower-income as well as low down payment needs.

The company gives you the potential for minimal out-of-pocket expenses by involving sellers and their contributions. Moreover, the loans do not require monthly mortgage insurance. In addition, it requires you to pay a small upfront. The loan application time is around six minutes. Interest rates vary.  See more.

7) MyAutoloan has been in business since 2003. The company offers you a loan to buy a car whether new or used.  Any credit is suitable to apply for a loan. Moreover, your credit score does not matter here. Apply with bad credit and still receive the loan.

The application takes around 2 minutes to complete. The loan interest varies with the applicant. Respond comes within 24 hours showing whether you succeeded or not. Expect a positive response since you already have an assurance of any credit. Get up to four loan offers in minutes. The company actually connects you with the available lenders.

8) Auto Loan

This might be your best loan if you are suffering from bankruptcy.  Apart from giving bankruptcy loans, it also specializes in bad credit, first-time buyers as well as subprime. Wherever you lie, you are free to apply for a loan to get that dream car you want. There are no fees and obligations during application.

Since 1994, the company has been offering affordable loans with varying Interest rates. The application takes a shorter time. It can take up to three minutes to get your response. Moreover, the application is secure as your data is highly protected by the system. As soon as you apply, the company matches you with the right lender. See more.

9) Auto Credit Express

The company links loan applicants to lenders. So far, the company has closed over $1 billion in bad credit auto loans. The company specializes in bankruptcy, bad credit, no credit as well as repossession. The company has been in business since 1999.

The interest rate is 3.99% – 29.99%. Moreover, the application time is very short. It takes around three minutes to complete the application process. One thing you should note is that the bad credit applicants should have a $1500 monthly income to qualify for the loan. The company considers credit scores of up to 525.  People with lower scores do not qualify for any loan. See more

Bottom Line

Bad credit record should not be an obstacle when it comes to accessing loans. Many people are in this scenario due to many unavoidable factors. The availability of bad credit loans is a relief to such individuals since they also need money to better their lives. The best bad credit loans should not attract a lot of interest. It should also have a flexible repayment plan.