When you have a bad credit score or no credits check at all, getting a loan is tough. One of the qualifications to receive a loan is a good credit check. However, if you need to get a loan at the moment, you can still get it even when you have no credit check. The online loan is often said to be the solution for those who have poor or no credit check. This type of loan often has some pitfalls such as stricter terms, higher interest rates, and so on.

Many people choose online loans because it is very convenient as you can apply for the loan from home. There is no need to visit the bank and face nasty rejection due to a poor credit check. Even though the process of online loan is easy, it is better to consider these points first.

Turnaround time

The best thing about the online loan is a quick turnaround time. You can get the loan money within a day or two, but the loan speed comes with a price. This means you will be charged more for the loan because the lender does not access appropriately.