Find Out if You're Approved for a Short-Term Loan

How much do you need?

QuickQuid is rated 4.4 stars by based on 1,821 reviews

Warning: Late repayment can cause you serious money problems. For help, go to
Representative Example: Amount of credit: £250 for 74 days with one repayment of £74.00 and one repayment of £324.00. Total repayment: £398.00. Interest: £148.00. Interest rate: 292% pa (fixed). 1300.5% APR Representative.

Understanding Bad Credit Loans

What Are Bad Credit Loans?

Before discussing “bad credit loans,” it's important to understand what “bad credit” means. The term is often used to describe an individual who has had past problems with credit. However, bad credit is an ambiguous description and doesn't provide concrete information about an individual's actual credit history. A credit rating is a number, not a descriptor like “good” or “bad.”

A "bad credit loan" is another ambiguous term, often describing a loan meant for individuals with low credit scores. Like “bad credit,” there's technically no such thing as a “bad credit loan.” Most credible lenders are unlikely to give individuals with very low credit scores a loan. If you have bad credit, or what you perceive as poor credit, you may have difficulty getting a loan. In contrast, loans for individuals with less-than-perfect credit will often be for smaller amounts, shorter durations and at higher interest.

Does QuickQuid Offer Loans for Bad Credit?

QuickQuid does not offer “bad credit loans,” and while less-than-perfect credit may seem like a barrier to accessing emergency funding, that's not necessarily the case. QuickQuid considers every customer's complete application, regardless of their credit history or credit score.

When making our assessment of whether the loan is affordable to the person applying, we consider more than just their credit ratings. Each application is unique, and a person's credit rating is not the last word when it comes to a person's ability to repay a loan. Rather, it is one of many tools we can rely on to help us come to a final approval decision.

So although QuickQuid doesn't offer "bad credit loans" to customers, someone who has been working to improve their credit will have a much better chance of being approved for a loan. Even with a “fair” or “good” credit score, a person may want to consider looking at QuickQuid if they're having trouble being approved for a traditional loan.

Applying for a Payday Loan with Bad Credit

People looking for short term loans should beware of lenders advertising payday loans for bad credit because it's important that lenders make sure a borrower can repay the loan they are applying for. At QuickQuid we use the information you include in your application to determine whether a person can repay the loan. QuickQuid's online application is straightforward and designed to provide the customer with flexible options (for both loan amounts and repayment periods). If a customer is approved, we will send the funds within 10 minutes after approval.§ It’s a degree of convenience that can mean a great deal when emergency funds are urgently needed.

If you’d like to learn more about how our loans work, visit our How It Works page or you can contact us seven days a week. Or, if you’re ready to apply now, start your application by clicking below!

FAQ About Bad Credit

How do credit ratings affect me?

When a credit agency assigns a rating to someone, they take into account a range of information, including past credit history. The final rating assigns the person a certain number that a creditor can then use to determine their risk of defaulting. How a creditor interprets those numbers, however, is up to them. They are not required to accept or deny a loan application based on credit ratings alone.

It's important not to reduce the process of applying for a loan to good credit and bad credit. A creditor can take into account a range of factors — while one direct lender might reject a person for having less-than-perfect credit, another creditor might accept their loan application. There are no "good credit loans" or "bad credit loans," just a range of creditors willing to accept different levels of risk. However, people who have less favourable credit ratings tend to pay more for credit. For example, interest rates for people with lower credit scores may be higher than those with higher credit scores.

How can I improve my credit?

Taking out a loan is one way you may be able to improve poor credit, but you have to be careful. Each loan application can be marked as an enquiry in your credit history; too many enquiries can indicate a need for funds, or that you're taking on debts you cannot repay. Failing to meet payments will negatively impact your credit score and set you back even further. Only take out a loan if you know you will be able to pay back the complete amount during your contractual repayment period.

There are other ways to improve credit, such as paying bills on time. Whether it's electric, water or credit card bills, paying the full amount on time can show you to be a reliable borrower. Loan companies checking your payment history can see those recent, timely payments and may consider you for a loan with better terms. Working diligently to better your credit score may also give you a better chance for increased loan eligibility and lower interest rates.