![]() ![]() When you sign up with Tomo, you’ll need to link your bank account and the company will evaluate your income and spending habits, no credit check required. There are many cheaper and better for your credit, alternatives.īelow are four alternatives, some are credit lines while others are credit cards, but all of them are easy to get approved for even if you have bad credit. Taking out payday loans is not the only way to get cash quickly when you have a low credit score. These services are ones that simply require proof of income, which is something the payday loan people will require as well. There are other services out there, ones without horrible fees and interest rates, that can offer you cash fast with no credit check. This starts a vicious cycle that is difficult to get out of.īut what alternative do you have? With bad credit, a payday loan is your only option, right? If you can’t afford to pay back the payday loan, you might find yourself taking out a second one to cover the costs. And you may only have two weeks before you’ll need to pay the loan back or start accruing interest charges and late fees. The amount you can borrow will be limited, usually $500 or less, and the fees are substantial, usually $15 or more per $100 borrowed. But the convenience of a payday loan often comes with a hefty price. When you are strapped for cash and have bad credit, a payday loan can seem like the best option for quick cash. ![]() ![]() When you buy through links on our site, we may earn an affiliate commission. ![]()
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