Get a $300 Payday Loan with Bad Credit & No Strict Credit Checks

Updated: September 14, 2024 by LendUp

With LendUp you can get an instantly approved $300 dollar payday loan from a direct lender even if you have a bad credit score or no credit history. Apply for $300 online without strict credit checks.

$300 Payday Loans: What You Need to Know

These are short-term loans that are often used for emergency expenses between paychecks. Payday loans are easier to get since they do not require a collateral, but they tend to be more expensive with APR's sometimes reaching 1000% or more. The repayment period is from one to two weeks, when you have to repay the full borrowed amount with all fees at once.

Despite the high cost, these loans are very popular among people with bad credit scores or with no credit history. Direct lenders offering these loans make lending decisions based on your income rather than credit score.

In US payday loans are banned in some states, so before applying for an online payday loan of $300, make sure they are legal in your state and you meet the lender's eligibility criteria.

Alternatives to $300 Payday Loans

If, for some reason, you have no access to payday loans in your area, consider an alternative in the form of $300 installment loans.

Installment loans are a more flexible option to get cash with amounts ranging from $300 to $5,000 and repayment periods that can span several months.

While installment loans can be more convenient in terms of repayment, they may also require a credit check, which is not a good options for those who already have a very low credit score.

Eligibility Criteria for a $300 Payday Loan

Though it is believed, that everyone can get easily a guaranteed payday loan, you still need to meet the lender's eligibility criteria:

1. You must have a steady income and be able to prove it

2. You must be 18 y.o. or older

3. Be a resident of US

4. Have a bank account to receive the funds

5. Have a valid photo ID

6. Have a working phone number and an e-mail address

For payday loans, credit score may not be a major factor in the approval process when applying for a $300 loan, still if you have a good score, you will have better chances of being approved or the overall loan cost can be slightly lower.

How to Apply for a $300 Loan through LendUp

LendUp is a lending platform that can match your loan request with a direct lender who is ready to fund you. Our service is free for you to use since we get our commission from the lender who approved your loan application.

To get a $300 payday loan offer using LendUp, you need to:

1. Complete an online application, providing your personal information, proof of income, and other necessary documentation;

2. Submit your application and wait for approval, it takes just minutes;

3. If approved, the lender will get in touch with you and guide you through the rest of the lending process;

4. Once done, the lender will transfer the funds to your debit card or bank account.

Please keep in mind, that at LendUp, we do not have any specific information regarding your loan, loan terms or communication with the lender, so any possible issues related to your loan must be addressed directly to the lender.

How Long Will it Take to Get The Funds?

Our loan requesting process is instant, which means that the lenders we work with get your loan application immediately after you submit the form. However, the time it takes to review, process, approve and fund the loan depends on several factors, including the time when you apply, whether it is a banking day, how fast can your bank account or debit card receive incoming money transfers.

Ideally, you can receive the money on the same day you apply and get approved, but in most cases it takes 1-2 business days.

To speed up the process:

• apply early in morning,
• make sure you provide complete and accurate information to the lender,
• answer lender's questions or provide additional documents promptly.

Can I Get a $300 Payday Loan with Bad Credit?

Yes, you can get a payday loan even if you have a bad credit score or no credit history - this is the main advantage of payday loans - they are more easily available but come at a higher cost. Most direct payday lenders ignore your credit score if you can provide a proof of stable income that meets lender's minimum requirements.

Can LendUp Guarantee No Credit Checks?

LendUp is not a direct lender and does not make any loan approval decisions, this is why we cannot guarantee that any of the lenders we work with will not run a hard credit check on you that can damage your credit score. If you want a guaranteed $300 no credit check loan, then consider other alternatives besides payday loans.

What is the Total Cost of the Loan?

The most obvious costs of the loan are the accumulated interest rate and the amount of the loan itself. Besides the interest rate, there are other fees that are often overlooked such as late or early payment fees, origination fees, rollover fees (if you decide to extend the loan term).

Pay close attention to the Annual Percentage Rate (APR), which contains all these costs and expresses them as a yearly rate.

For example, if you borrow $300 for two weeks with a fee of $15 per $100 borrowed, your initial cost would be $45. However, if you can't repay on time and roll over the loan for another two weeks, you'd pay another $45, bringing the total cost to $90 for a month-long loan. In that case the APR would be 390%.

Why Use LendUp for $300 Dollar Loans?

LendUp is an online lending platform where you complete just one form to reach hundreds of direct lenders across the US. Imagine if you had to apply with each lender separately - how much time would it take you? This is where LendUp becomes handy - no need to search for direct lenders, no need to send dozens of applications and the same set of documents over and over again. Complete just one simple form and we do the rest.

Oh, did we mention that LendUp is totally free to use? Well, it is!