What is a no Teletrack payday loan — and should you consider one?
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What is a no Teletrack payday loan?

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If you’re thinking of taking out a short term loan and have poor credit, learn more about Teletrack payday loans and what to watch out for.

What is Teletrack?

Part of a company called CoreLogic, Teletrack is a consumer credit reporting service that gives lenders credit history of potential borrowers. It serves to both protect lenders from fraudulent borrowers and assess borrowers’ loan behavior. Many of Teletrack’s clients are services that give payday loans to people with poor or no credit.

For many years, the three main credit bureaus, Experian, TransUnion and Equifax, didn’t keep track of payday and similar short term loans. With Teletrack, potential lenders will now have information beyond your traditional credit history, including your payment history for things like rent and utilities.

Teletrack instantly determines creditworthiness through two products available to lenders:

  • CyberScore. A system that discovers your history of online applications for loans and credit cards.
  • Decision Manager. A score that combines data on your credit score, payment frequency, earnings and employment history.

What is a no Teletrack payday loan?

No Teletrack loans are simply short term loans that don’t check your history on past loans. So any bad credit or unpaid loans that you may have in your history shouldn’t affect your creditworthiness. A no Teletrack loan is typically approved even if you’ve defaulted on payday loans in the past.

Benefits and drawbacks of no Teletrack payday loans

Benefits

  • Guaranteed approval. With a no Teletrack loan, your credit history isn’t a problem.
  • Fast turnaround for short term loans. Loans can be approved within a day, depending on the lender.
  • Funds can be used for any purpose. You won’t be limited in how you can spend your loan.

Drawbacks

  • Higher interest. These loans typically come with higher APRs than other payday loans.
  • Less regulation. You’ll need to research these lenders to determine you’re working with a reputable, legitimate lender.
  • With no reporting, you won’t build your credit. If you’re looking to boost your credit score, you may want to look at other types of lenders.

Short term loan lenders who may approve applicants with bad credit

Rates last updated August 18th, 2018
Unfortunately, none of the short term loan providers currently offer loans in your state. Learn more about short term loans in your state to find an alternative.
Name Product Product Description Max. Loan Amount Turnaround Time Requirements
LendYou Payday Loans
Apply online with this loan-connection company offering unrestricted short-term loans at high maximums — fast turnaround.
$15,000
1 business day
You must be a US citizen or permanent resident, age 18+ and have a regular income.
CashNetUSA Loan
Apply for a short-term loan with an easy online application and dedicated customer service.
Varies by state
1 business day
You must be a US citizen or permanent resident, be at least 18 years old and have regular income and a bank account.
Check into Cash Payday Loan
With 1,000 branches in 30 states, get $50 to $1,000 in days from this direct lender.
$1,000
1–2 business days
You must be at least 21 and an American citizen and have a bank account, email address and phone number.
Jora Installment Loans
Installment loans with repayment terms up to 30 months, depending on your state.
$2,600
1–2 days
Must have an active checking account, regular source of income and email address.
ACE Cash Express Payday Loans
Quick payday, installment and title loans with no prepayment penalty and a 72-hour satisfaction guarantee. Funds can be loaded on an ACE Elite™ Visa® Prepaid Debit Card.
Varies by state
Generally receive the money the next business day
Must be 18+ years old, have a steady source of income and a checking or savings account. Must not be a debtor in bankruptcy.
BadCreditLoans.com
With straightforward, simple qualifications, these loans offer easy approval for people with poor credit.
$5,000
Varies
Depending on lender requirements, people from all 50 states may not be eligible for a personal loan.
LendUp Payday Loans
LendUp offers $250 loans for first-time borrowers. Good credit is not required. Visit the site to see if available in your state.
$250
generally receive the money the next business day
Be 18+ years of age and have a checking account that can accept electronic transfers.

Compare up to 4 providers

How to compare short term loans

Short term loans can provide some breathing room when you need money quickly, even if your credit isn’t perfect. Before agreeing to a loan, compare these important elements against your needs:

  • APR and fees. The APR represents the true cost of a short term loan and can be 400% APR or more.
  • Required creditworthiness. While banks and more traditional lenders can require higher credit scores, online short term loans typically require score of 600 or more. No Teletrack loans may have even more lenient credit requirements.
  • Repayment terms. When signing a short term loan contract, read the repayment terms carefully. The loan is repaid within a specific period of time, often the day after your payday. Know how much you’ll pay for any late payments.
  • State regulations. Confirm that your lender is licensed to provide services in your state of residence. Check out our guide on payday loan regulations by state.
  • Limits on spending. Some short term loans require that the money is used for a specific purpose.

Bottom line

No Teletrack payday loans could be an option if you’re looking to get cash quickly but have outstanding short term loans or a poor repayment history. But remain vigilant that you’re working with a reputable, legitimate company and understand your specific loan’s terms and conditions before applying. You can compare your options for short term loans on our website to get a better understanding of the lenders available and what they offer.

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US Payday Loans Offers

Important Information*
Slam Dunk Loans

Potentially get approved for a short-term loan through this lender-connection service, even with poor credit history.

LendUp Payday Loans

LendUp offers $250 loans for first-time borrowers. Good credit is not required. Visit the site to see if available in your state.

Check into Cash Payday Loan

With 1,000 branches in 30 states, get $50 to $1,000 in days from this direct lender.

OppLoans Installment Loans

Installment loans with competitive rates from a top-rated direct lender.

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