Instant Cash Loans No Credit Check Unemployed

There are no reputable lenders that can guarantee approving a loan – there's always an application process. If a lender claims to offer guaranteed same-day approval, you might be better off walking away – they might not be legit.

Lenders will need you to have some kind of income – just so you’re able to pay off the money you borrow. So if you’re unemployed and have no income at all, you’re not going to get a loan approved. But if you just have a different source of income while you’re unemployed (like a payment from a trust fund, or royalties from music) then there will still be lenders willing to help – as long as you can show evidence of that income.

One of the best things you can do is to make sure your finances are in order – debts paid off, bills paid on time, and credit cards under control. This will also begin to improve your credit score over time. So practically speaking, putting together a budget (if you haven’t done so already) is a great way to get started. Work out your expenses, make sure you’re setting money aside for them, and don’t spend more than you can afford.

There are a few things that can do this, and some are more obvious than others. Not paying your debts is a big one – and this includes repayments on borrowed money and outstanding bills (that one catches a lot of people out). Using too much credit also doesn’t help – so try to keep your credit card limits low, and don’t have more than 30% of your credit limit owing where possible. Applying for loans also puts a dent in your credit rating – so applying for multiple loans at once is a bad idea.

Different agencies use slightly different scales here, and lenders very in what they regard as “bad” credit. Your credit rating will normally be a number somewhere between 300 and 850 – the higher, the better. Broadly speaking, numbers above 670 shouldn't have much trouble getting a loan. Ratings below 670 might need to choose their lender carefully, with ratings under 580 more suited to bad credit loans. Those numbers are very general, though. It’s important to note that even with a bad credit score you can be approved for a same-day short-term loan.

In Australia, there are financial assistance options available for those who are unemployed and on government benefits. These include small interest-free loans (up to $1,500), and advances on your Centrelink payments. There are some criteria to meet, and restrictions around what the money can be used for. But if you’re eligible for one of these, they can be pretty helpful. You can find out more about those options on the Centrelink website.