No Traditional Credit Check Loans

What Is a Soft Credit Inquiry?

A soft credit inquiry (sometimes called a soft credit check or soft credit pull) is one type of credit inquiry that doesn't affect your credit score. A soft credit check can occur without your consent, for example, a pre-approved loan offer or credit card. Because of this, credit scoring systems like FICO do not consider soft pulls when calculating your credit score.

What Is a Hard Credit Inquiry?

When you apply for a loan or line of credit, a lender requests to review your credit report, that request is recorded on your credit as a hard inquiry. It can affect your score for up to 45 days. Having many inquiries over a short period can indicate you are at a higher risk to lenders because you seek to add more debt.

Will CASH 1 Run a “Traditional” Credit Check When I Apply?

When applying for personal loans, CASH 1 does not perform a hard credit check inquiry, which can hurt your credit score. Instead, we use a proprietary underwriting process that assesses your creditworthiness from various factors. We believe you are more than a credit score. That's why we assess your loan worthiness and approval limits using a proprietary method. To authorize loans, we consider a variety of financial parameters.

Our goal is to provide you with simple cash loans that you can quickly repay. We understand that getting a loan from a traditional lender might be challenging when you have a bad credit score.

What Are The Advantages of Typical No Credit Check Loans?

These loans have a fast and straightforward application process, which allows you to get approved for a loan without stressing your credit score. Generally, there are no prepayment penalties for paying off your loan early. Some lenders report your payment activity to the credit bureaus. As a bonus, you could improve your credit history by paying off your loan early and making timely payments.