It can be almost impossible for those with a bad credit history to get loans or credit cards. Frustratingly this can be as also true for those who have actually cleared that debts as for those who still owe money. This is because credit card companies and loan providers carry out credit checks each time someone applies for credit. The purpose of these checks is to examine our credit history which details any credit we have ever had from credit cards, loans to mortgages. Not only can companies find out exactly how much debt we currently have, they can also determine whether we have ever defaulted on our loan, credit card or mortgage repayments. Thus, even when someone has cleared their debts, they may still have a poor credit rating if they have previously defaulted on their repayments.

When it comes to applying for a payday loan, a bad credit history will not be a barrier to approval. This is because payday loan companies do not carry out credit checks on those applying for a cash advance on their salary. Payday loans are extremely short-term loans and the loan companies will demand repayment of the total loan amount on the very same day as the borrower next gets paid. The brevity of the loan term together with the fact that it is simply an advance on the borrower’s salary makes a person’s credit history irrelevant. The primary qualifying factor is the value of the applicant’s pay cheque and the date on which it will be paid.

Provided that an individual can submit of proof of their id and address together with copies of their most recent payslips and bank account details, they are eligible to apply for a payday loan, irrespective of their credit history.

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