Warning: Late repayment can cause you serious money problems. For help visit moneyhelper.org.uk/en. We are a broker and not a lender. We don’t make lending decisions.

Apply Now

Payday Loans for Bad Credit

Payday loans for bad credit provide short term borrowing options for individuals with poor or limited credit histories (bad credit). These loans are designed to cover urgent expenses, offering quick access to funds when other borrowing options may be unavailable.

How much would you like to borrow?
Representative 79.5% Rates from 48.1% APR to 1721% APR. The minimum Loan Term is 3 months. The maximum Loan Term is 36 months. Representative Example: £1,000 borrowed for 18 months. Monthly Repayment of £89.22. The total amount repayable is £1605.96. Interest amounts to £570.44, an annual interest rate of 59.97% (fixed) Representative APR: 79.5% (variable). *Subject to lender approval. Cash within 60 minutes is possible, depending on whether your bank supports Faster Payments. Otherwise, funds may take 24–48 hours to arrive.

People with bad credit could still get payday loans, as many lenders focus on affordability and current financial circumstances rather than solely relying on credit scores.

How they work

When you apply, you complete an online form with details about your income, outgoings and overall financial situation. Lenders then use this information to assess whether the loan is affordable for you. If your application is approved, the money is paid directly into your bank account, often on the same day.

Benefits of payday loans for bad credit

Accessibility
Payday loans can be available to people with poor credit histories, as many lenders place more emphasis on affordability than on credit scores alone.

Quick approval and access to funds
Many payday loans are designed to be processed quickly, with decisions often made on the same day and funds paid shortly after approval.

No collateral required
These loans are unsecured, which means you do not need to provide any assets as security.

Flexible loan amounts
Loan amounts usually range from one hundred to one thousand pounds, making them suitable for smaller, urgent expenses.

Things to consider

Higher interest rates
Payday loans often come with higher interest rates than more traditional forms of borrowing. Before you apply, it is important to understand the total amount you would need to repay.

Short repayment periods
Repayment terms are usually short, which means careful budgeting is important. Missing payments can lead to extra charges and make managing your finances more difficult.

Possible effect on your credit file
Although many lenders offer loans to people with poor credit, missed repayments can affect your credit record. Paying back your loan on time can help protect your credit profile.

When payday loans for bad credit may be used

Payday loans are sometimes used to cover unexpected costs, such as urgent medical expenses or car repairs. They can also help manage short term cash flow gaps or deal with essential bills when no other options are available.

Frequently asked questions

Can I get a payday loan with a very low credit score

Yes, some lenders are willing to consider applications from people with low credit scores. They often focus more on your current ability to repay than on your past credit history.

How much can I borrow with a payday loan

Loan amounts typically range from one hundred to one thousand pounds, depending on the lender and what they assess as affordable for you.

Will applying for a payday loan affect my credit score

When you make a full application, the lender will usually carry out a credit check. This is recorded on your credit file and may have an impact on your credit score. Making repayments on time can help support your credit record.

Are payday loans for bad credit regulated in the UK

Yes, any lender offering payday loans in the UK must be authorised by the Financial Conduct Authority. This helps ensure that lenders follow strict rules designed to protect borrowers and promote responsible lending.