How Can I Get a Loan With Bad Credit & No Checking Account?

by Holly Mccoy ; Updated July 27, 2017
Bad credit loans can be hard to get.

When you have bad credit, it can be harder to find a loan to meet your financial needs. Not having a checking account can add to these problems. However, you can get a loan even with bad credit and no checking account.

Step 1

Use a cosigner. If you know someone who has good credit and a checking account, and is willing to co-sign a loan for you, you may be able to get the money you need. Talk to your local bank manager about this possibility, or use your cosigner's financial institution if they are willing.

Step 2

Offer collateral in exchange for a loan. If you have a home, vehicle, business or other asset, you may be able to use this as collateral with your bank, even without credit or a checking account.

Step 3

Ask a family member or friend who may have the financial means if they can lend you the money you need. A personal loan from this type of source will not require you to have good credit, and you can see if they can get the money in cash. If you can get a personal loan from family or friends, and they must write a check, you can always cash it through a check cashing business.

Step 4

See if you can get a cash advance from your future paychecks at your place of employment. You may be able to get a small loan if you have been with your company for a long time, especially if you agree to repay the loan in installments from your paychecks.

Step 5

Apply for a payday loan, also known as a cash advance. This type of short-term loan is specifically meant for those who do not have good credit. The loans are offered in amounts up to $1,500 from many companies. Typically, payday loan companies require a checking account to be approved, but with a bit of research, you can find companies that accept savings accounts, as well.

Step 6

Apply for a car title loan. These loans require customers to have the title to their car, as it will be used for collateral to get the loan. There are no credit checks involved. These companies also typically require a checking account, but as with payday loans, some may be willing to accept a savings account on their application.

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