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Quick Loans With No Credit Check: Why Payday Loans Are Worth Considering


Unexpected expenses can occur at any time, and sometimes you need cash fast to cover them. If you have bad credit or no credit rating, getting approved for a loan can be challenging.

However, payday loans are a type of short-term loan that can be a viable option for those who need quick cash without a credit check.

Updated by Steve Stemp on 13/4/23

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The purpose of payday loans

Payday loans are designed to help people bridge the gap between paydays. They are typically for small amounts, usually up to $2,000, and are meant to be paid back quickly, usually within a few weeks to a month.

The benefits of payday loans

One of the main benefits of payday loans is that they can be approved and paid out quickly. The application process is usually simple and fast, and some lenders offer no credit check loans, which means that even if you have bad credit, you may still be able to get approved.

Payday loans fees and charges

It’s important to note that payday loans in Australia are regulated by the government, and most lenders charge an establishment fee of 20% of the amount borrowed and a monthly fee of 4% of the amount borrowed.

However, the government has put a cap on the total fees and charges for payday loans, so you won’t end up paying more than double the amount you borrowed.

When would a payday loan help?

While payday loans may have higher fees than other types of loans, they can be a useful option for those who need cash quickly and have no other options. However, it’s essential to borrow responsibly and only borrow what you can afford to pay back.

Payday loans with Cash Today

When using a loan matching service like Cash Today, it’s important to understand that the lenders in their network may have specific criteria for the types of loans they are looking to approve.

By understanding these criteria, applicants can increase their chances of being matched with a lender who is more likely to approve their loan application.

Additionally, Cash Today can help simplify the application process by allowing applicants to submit one application and be matched from a selection of multiple lenders with one more likely to approve the application, based on preferences indicated by the lender.

However, it’s still important for applicants to carefully consider their financial situation and only apply for loans they can afford to repay, as well as ensuring they have all necessary documentation and information ready to make the application process as smooth as possible.


In summary, payday loans can be an option to consider when you need quick cash and have no other options. They can be approved and paid out quickly, and some lenders offer no credit check loans.

Keep in mind that payday loans can have higher fees than other types of loans, so it’s crucial to borrow responsibly and only what you can afford to pay back.

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