In life, unexpected events often arise, leading us to need extra money quickly and urgently. But we do not always have a good financial condition, and this can cause a bad credit score. Having bad credit and not meeting the requirements that lenders usually analyze to grant you the loan can sometimes cause a problem in getting the loan accepted.
Is it possible to get a $200 loan with bad credit? A small amount to fix an appliance, a medical emergency, or pay for a vacation, are some of the reasons why you may need this money.
And the answer is yes because it is possible to find an entity that will lend you 200 dollars despite having bad credit. But some requirements must be met, and we are going to tell you about them.
What are the requirements for a $200 loan with bad credit?
In other posts, we have talked about payday loans, which allow you to borrow a certain amount of money without the need of a good credit score. Those are paid back the same day you get the next income. Should you need a small loan of $200, this could be a solution.
As you can see, there are solutions for anyone who wants to borrow $200 with bad credit. However, there are some requirements that you may always be asked to meet for any payday loan lender.
One of the most common of these requirements is to have a minimum income to ensure that you can repay the loan. A lender can agree to give you the money if you have bad credit, but they need to know that you will be able to pay it back.
In addition, they may require high-interest rates to lend you an amount of money in a short time and without analyzing your credit check. On the other hand, they may also require you to be a U.S. citizen or have a green card. And they would also ask you to have a bank account in your name and a phone number or email to contact you.
If you have gone to an entity that offers a payday loan, it is also possible that one of the requirements is that you guarantee the day of repayment.
Where to get small day credits
You may be wondering where you can start looking for loan possibilities for around $200, even if you have bad credit. Well, your best bet is to look online. Nowadays, we have the possibility to search for all kinds of loans through our computers. This way, you will be able to know in advance if you meet the conditions.
And among some of the best-rated ones you can ask for, we are going to tell you the ones that have the best conditions in spite of quickly lending you the money you need:
- The first place to go for quick loans, especially if you may need them on a regular basis, is Money Lion. If you sign up for their lending platform and pay the premium fee of $29 per month, you can borrow up to $250 on a fairly regular basis. The loans have no interest or extra fees. You simply pay the monthly fee mentioned above.
- You can also get this type of loan at CashAdvance.com. They offer payday loans, where they can lend you up to $300 under the condition that you pay it back on the next day you receie some income. However, they usually ask for some requirements such as having a regular salary.
- In addition, we recommend that you seek information about the loans offered by Aca Cash Express. They can also give you a payday loan of $200 without looking at your credit score. However, they do ask that you are not in bankruptcy at the time you apply for the loan and that you have some income, even if it is low but steady.
As you can see, there are a few possibilities for you if you need a quick, low-cost loan. However, it is important that, before you apply for it, you are sure that you will be able to pay it back and that it will not mean a worse debt for you after a while.