Bad Credit Payday Loans

Got bad credit but still need some extra cash? We would love to help you! Cashfloat is an FCA authorised direct lender that accepts bad credit payday loan applications of up to £1,100 online. All you have to do is fill out our 3 minute application form. You will get an instant decision and, if approved, you can be funded within the hour!

Your Bad Credit Payday Loan Information Card
  • You can get a bad credit pay-day loan from £200 to £1100
  • Feel free to apply, even with a poor credit score
  • You can repay your bad credit payday loan in up to 4 instalments
How Much can I Borrow?
  • 3 minutes to complete the online application form
  • 90 seconds instant lending decision
  • 1 hour from approval, the money should be in your bank account

* Average numbers

How Fast Can I have the Money?
  • We are an FCA authorised bad credit pay day loans direct lender.
  • We welcome people with bad-credit
  • Unsecured loans, no guarantor needed
Why Cashfloat?
FAQs about Bad Credit Payday Loans Loans

Payday Loans Bad Credit

When looking online for “bad credit payday loans direct lenders only”, and doing a market research, you can sometimes see direct lenders boasting that they are willing to offer instant ‘payday loans for bad credit’ or ‘pay day loans for bad credit’.

The question here is, what exactly does this mean? Does it mean that they give a loan to anyone who asks for one, without any restrictions? Does it mean that they are willing to give bad credit payday loans with no credit check? Most likely, it isn’t. Any lender who lends money, wants to do so only to people he thinks will have the capability to repay. If so, and if loans are not given to anyone without restrictions, we are left wondering: What does it all really mean?

What Is a Credit Score?

The term ‘Bad Credit Loan’ implies that it is a loan given to a person with ‘Bad Credit’. So now, the next question is, what is ‘Bad Credit’? In order to explain this, we need to explain a more basic term, which is a ‘Credit Rating’.

A ‘Credit Rating’ is an economic parameter, which indicates how much a person can be trusted from financial aspect. A person who has a ‘High Credit Rating’ is a person you can count on to fill his financial obligations. On the other hand, a person defined by a ‘Poor Credit Rating’ means that he tends to fail to fulfill his economical obligations, and it is considered risky to trust him. Of course, this has nothing to do with the fact that he may be a fantastic fellow who helps all his friends when they need him, who drives carefully and is also a nice chap to sit next to in a bar. The only worrying factor is his economic behaviour. Before you can take any credit, such as payday loans, creditors must check your credit report.

When a person begins his economic life (it can be when he reaches the age of maturity, or, it could be after migrating to a new country, where he is not known), he starts with a clean slate. There is no information about him in the local public databases – for better or for worse. This that means financial institutions will operate based on their belief and trust in the person. For example, a bank may agree to open a bank account for him, but will not rush to give him a credit card. If he is given a credit card, the bank would limit the amount of credit he receives. The bank would first want to see how he conducts his financial affairs before trusting him more. Here at Cashfloat we offer small loans, even for people with poor credit.

How Can I Get a High Credit Score?

If the person’s behaviour is good and responsible, the bank will be willing to lend him more and more. This means that his credit rating rises. After this happens, this person could get offers of credit, without even asking. There are instances where it gets to the point of absurdity, with bank representatives seducing the client to take more credit, let’s say, by offering to change his car for a new one. However, if this person would not conduct his financial affairs in a responsible manner, things start to drift in the opposite direction. The bank can cancel a line of credit already given, and can impose additional restrictions. Sometimes, when a bank is not willing to lend to you, you can still get payday loans for really bad credit from direct lenders.

Of course, you could find “shortcuts” that would give you a ‘High Credit Rating’ in no time, without having to go through all the examinations and tests. A rich Dad can be extremely helpful. Recommendations from someone with very good reputation can also be very good. And if, by any chance, you happen to belong to the royal family, all your credit concerns are over.

How Can My Credit Score Go Down?

Bringing down your credit rating does not take much effort. All you need to do is make some financial mistakes or irresponsible decisions, and immediately a black mark would show on your credit rating. For example, if you borrow payday loans with bad credit and don’t pay them back, this will be recorded and payday lenders will be less willing to lend to you in the immediate future.

Traditionally, credit institutions are very anxious for their money, and risk is not one of their defining features. Therefore, such a mark could take quite a while to fade. In addition, it is important to note that during the technology age in which we live, information travels very quickly. Therefore, such a mistake will almost immediately become available to any other credit institutions. This is done by special companies established for this purpose by the government. They are called CRA’s, or Credit Reference Agencies.

Who will lend to me if I have bad credit?

Well, luckily, the situation is not so bad. Banks may refuse our requests for credit, as well as credit card companies. However, bad credit direct lenders may agree to lend you more money. Their considerations are different than the one of the banks. The reason for this, is that financial institutions, such as banks, don’t go for big risks. They prefer to earn a little percentage but stay relatively safe. Banks also do not hesitate to ask for guarantors in order to provide credit. Of course, this is only one of the bank’s limitations. Cashfloat offers no guarantor loans, which are more convenient and hassle-free.

Short Term Payday Loans Bad Credit

There are some places where banks can’t beat short term lenders that are not related to your Credit Score. For example, banks usually do not want to deal with small loans of a few hundred pounds. Asking a bank for a loan of £200 is just as about the same as driving a jet plane to the local supermarket. To get to the supermarket, it is preferable to take a scooter; you do not need a jet plane. So too, if you need a small loan bad credit, it is better going to a private lender rather than a bank.

From the above example, we can learn that the definition of bad credit or poor credit is individual, and somehow flexible. For banks, a person can be defined as ‘High Risk’ or as having a ‘Bad Credit Rating’. And for a private lending institutions, the same person can be good enough to be able to get credit. Of course, getting credit is not all on black and white, there are grey areas in between. For example, sometimes it depends on the amount. A person might be good enough to obtain credit of £500, but not good enough to get credit of £1,000.

Does Cashfloat Offer Payday Loans with Bad Credit?

We often receive applications for responsible short-term loans from customers who have had a difficult time, or have recently been refused a loan from their banks. While Cashfloat does perform comprehensive credit checks on all loan applicants, our major focus is on affordability. We simply want to ensure that you can pay us back without putting yourself and your family under an even bigger financial burden, come payment time.

Our advance scorecards are designed specifically for the short-term loan market, and in many cases, we may approve loan applications even if the client has been recently rejected by his bank. It is imperative to understand that our responsible short term loans are designed to help customers through a temporary financial shortage, and not as a long-term borrowing solution. It is also important to realise that we are not always the cheapest option on the market.

Each lender has their own internal credit check that they use to determine whether an applicant is qualified for a loan. Typically, the system will incorporate standard risk factors. These factors may include age, whether the applicant has other outstanding loans, current income and the applicant’s repayment history. Bad credit payday loans with guaranteed approval are illegal in the UK as all lenders must carry out the necessary checks.

How long does it take to get a poor credit loan from Cashfloat?

On average, the whole process should take no more than 2-3 hours from application to funding. We assess all loan applications using a range of different measures. We have the most advanced underwriting technology, designed by world-class IT technicians. Our technology, coupled with our expert underwriting team, ensures that every application is given a fair chance. We will not automatically refuse to lend to anyone with bad credit. Instead, we look at the full picture, including your personal circumstances, affordability and your past financial performance to come to an informed and responsible lending decision. Apply with us today for a new short term loan experience.

Payday Loans UK Bad Credit

Where can I find bad credit payday loans, direct lenders only?

Many people search for payday loans for bad credit with no brokers when they have a bad credit report but don’t want it further damaged by lots of lenders checking their credit report. This often happens when you apply through a broker. You can find payday loans for really bad credit from direct lenders online. However, not all lenders will make it clear whether they are a direct lender or a broker, so make sure that you know what type of company you’re dealing with before applying. With a payday loans bad credit direct lender, you can also be sure that there will be no hidden fees, such as a broker fee, debited from your account. Cashfloat is a payday loans direct lender, bad credit is accepted!

Are the best payday loans for bad credit ones with no credit check?

When you have bad credit history, some lenders may refuse to lend to you. So maybe you don’t want them to credit check you? Or maybe you’re worried that if they run a credit check, it will be marked on your credit report. Either way, you might end up searching for ‘bad credit payday loans direct lenders no credit check’ online. Unfortunately, what you will find is that no authorised lender will give you credit without performing a credit check first. This is because every credit provider in the UK is obligated to run a credit check before lending to anyone. But this doesn’t mean you can’t borrow! For example, if you apply with Cashfloat, we are a payday loan direct lender where bad credit is ok!

Can I get guaranteed payday loans for bad credit in the UK?

When you borrow a loan together with a guarantor, the loan is guaranteed by the guarantor. This means that if you don’t pay back the loan, the guarantor assures the lender that they will pay it instead. It can be hard to find guaranteed payday loans for bad credit in the UK as payday lenders do not really specialise in guarantor loans. However, the best payday loans for bad credit in the UK could be fast online payday loans for bad credit with no guarantor. These are offered by bad credit payday loan lenders like Cashfloat. Cashfloat is a payday loans direct lender for bad credit in the UK.

Where can I find quick payday loans for really bad credit?

Quick payday loans for bad credit are available online by lenders like At Cashfloat, we know that bad credit history is not necessarily who you are. That’s why, even if you haven’t been amazing with your credit in the past, you could still be approved for instant payday loans bad credit if you fit all of our other lending criteria. We also know that time is of the essence! Which is why we offer same day bad credit pay day loans with no additional same day funding fee. If you’re looking for instant loans for bad credit, apply now with Cashfloat – you’ll be surprised how simple it is!

Why should I trust Cashfloat for a bad credit loan?

When you apply for a payday loan, bad credit can get in the way. Thankfully, poor credit payday loans do exist. If you have a poor credit score, you do not have to resort to no credit check loans or loan sharks to get a payday loan. Instead, you should use a safe and authorised payday lender like Cashfloat. You can check our FCA authorisation on the FCA register. Wih our advanced technology and underwriting algorithms, we make sure to give you the best shot possible at getting a fast loan from us, even with very poor credit.

Can I get Bad Credit Payday Loans from Direct Lenders with No Credit Check?

Payday loans with no credit checks are generally unsafe. But that doesn’t mean you can’t get a loan. When we look at your credit record, we’re not looking for a perfect record. If you once defaulted on a telephone bill, we won’t decline you for that. So what are we looking for? The key word here is ‘improvement’. You may have some pretty bad defaults in the past, but if you’re repaying them all, and haven’t defaulted recently, it shows that you’re making an effort to improve financially, and we’re a lot more likely to offer you a loan.

What are the best payday loan companies for bad credit?

Pay day loans for bad credit are a product that borrowers need to understand. Some of the best direct lenders in the UK offer payday loans for bad credit, but they are still required to perform a comprehensive credit check and affordability assessment. Direct lenders need to ensure that you can pay your loan back, regardless of how poor your credit score may be. In fact, this is done for your protection as well. Please do not be tempted to work with direct lenders that offer payday loans no credit check. If you are aware of existing issues in your credit file, please contact us so we can work together to get you bad credit loans with an instant decision. And always remember, the best payday loan companies for bad credit are those that work harder to find the right loan for you.


Cashfloat approves bad credit payday loan applications so long as you meet our other internal requirements. You don’t have to believe us, you can check out our online reviews!

The good news is that the next time you take out a loan – even with a bad credit history – by paying it back on time, you will automatically boost your credit score. Apply now for up to £1,100 and get your money same day, if approved.

Written by: Kelly R
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