Best Personal Loans for NO CREDIT (or BAD CREDIT) | No consigner required

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do not do that payday loan do not go to

a loan shark just watch this video in

this video we are going to discuss how

to get a credit card or a loan with bad

credit without a cosigner I will talk

about all of your options where you

should go what questions to ask

literally everything to do so just

please watch this video in its totality

so that you are equipped with all the

non lives to get that loan and spend it

responsibly write all that and more it's

facility' cash compass

all right so welcome to welcome back I

am here to teach you all the things that

you should have learned in school about

money but they did not mention it but I

got you I got please be sure to

subscribe and if you really watch your


hit that Bell we talk about everything

from personal finance to investing to

economics alright so if you have

challenged credit or no credit at all I

already know you know the struggle it's

important to understand this there will

be somebody out there that's willing to

give you money but please know they

normally do not have your best interests

at heart that's where you came to this

video these companies will have the

upper hand so there will be fees the

fees will be ugly the interest rates

will be ugly and there will be things

that they will do to limit you so please

again watch the whole video so you can

see what your best approach should be

depending on your situation before so

why I got access what are you trying to

do with this person alone alright if

you're trying to go buy something that

you don't need if you're not trying to

do something like pay off debt or get

into a business that you have already

researched and you know that you will be

making money watch my other videos on

click this one but please do not go and

use this information to get yourself in

a worse financial position right we are

looking to go on the up alright so I

know we live in the technology age and

run to everything online but it would

really hope to kind of get out of your

house you know clear throat under you

haven't talked because you've been on

social media but go out there and

actually go into a bank or go into a

credit union you will find much better

success in there because you are not

working with computer algorithms when

you are applying for loans or credit

cards online they take the information

that you have inserted they do some sort

of magic behind the computer and then

the computer spits out approved or

disapproved or decline you know so you

are really missing that one on one


with somebody who is a professional who

can actually assess your situation

before you go ahead and get your credit

book because that will make your credit

even worse so please make sure that if

you are applying for these things online

it's because you know you have a solid

set up right you have a good credit

score you have good income if you know

those things are challenged do yourself

a favor and go in person when you in

person not only do you get the benefit

of actually talking to somebody

face-to-face they can do what's called a

pre-qualification there's

pre-qualification and there's

pre-approval and obviously you're

approved and underwritten when you get

pre-qualified you are providing truthful

right the correct information based on

what you know your credit score your

income and based on the information that

you give them they will let you know the

likelihood of you getting approved if

that might be hood is high then you can

go ahead and actually apply if you are

going inside a bank or a credit union a

lot of times they actually have people

who under write these things manually

and when I say underwrite I mean they're

the person who is collecting all your

data and determining whether you get

approved or not so that's another

benefit of actually going in there

because you could really make your case

you can't convince a computer that you

need a loan Apple listen to me

I really need to consolidate my day it

just doesn't work that way right when

you guys are trying to get pre-qualified

that allows you to comfortably shop

around without having to have your

credit actually pull and I say shop

around because different companies will

offer you different things there might

be one computer tells you he'll know and

another company will say yes but so you

want to make sure you're shopping around

to get the lowest interest rate if

possible you know a payment plan that

actually suits your needs that will fit

into your budget because you're

budgeting right right and a situation

that will make sense fine

like I said if you're consolidating your

debt you should be able to be paying

less interest a more comfortable payment

plan and get out of debt quicker it

really it's important to make sure

you're going in there with your

information so you'll need to have maybe

your w-2s or your pay stub check their

credit score before you actually get in


don't use Credit Karma because most

lenders do not use credit Karma's system

which is a vantagescore they use the

FICO score so discover if you want

discoveries website they actually allow

you for free even if you don't have a

Discover card to check your FICO score

so that's a really great resource and a

lot of these banks also offer your FICO

score you just kind of ask and see what

they're offering for free look at an

idea of what that is before you walk in

there so you look prepared and like I

said you have to be educated so do not

just pop about the first place and next

update and they give you because they

will give you crazy interest rates I

will list some companies at the end of

this video that you probably should

avoid because they will either be very

unreasonable hard to work with or charge

you astronomical interest rate that you

do not deserve like I mentioned this

video is supposed to be focus on people

who cannot get a cosigner maybe you

don't have anybody who will say yeah you

know what if you don't pay that I got

you but maybe you have somebody that

wouldn't mind helping you and then you

can leverage off of their good spending

habits and their good credit so you

would do what is called becoming an

authorized signer on one of these

person's credit cards right let's say

you know somebody who has good credit

they would like to help you out but they

don't want to be on the line for your

you know mistakes or your slip-ups and

if you don't want to pay they don't want

to be responsible for that because they

don't want to ruin their credit score

what they can do instead that's the best

of both worlds that still help you out

but not have to actually be responsible

for anything that you get yourself into

and allow you to build your credit

sounds too good to be true but it's not

when you become an authorized signer

what they will do is it will put you on

their credit card so you get to get all

that juicy great on time entrance

on-time payments the length of their

credit and that will that will as long

as they are responsible with their

credit cards that will boost your credit

score now when they make you an

authorized signer they do not have to

give you the credit card they can sign

you up get your name on there and then

when the credit card comes in

they just keep it now if you let that

kind of just stay on your credit that

will boost your credit score and then

you can actually be able to apply for

these loans with a better credit score

with more credit history and then that

would allow you to get better interest

rates and something that actually is

more suited to your needs so convince

somebody to do that for you because that

is a almost surefire way to improve your

credit score and like I said reap the

benefits of debt consolidation or

whatever you trying to work on so what

are your options it's like I said I

think you should definitely run for the

hills if you see a loan shark and you

should avoid payday loans because you

don't want to spend before you get so

there's options like secured personal

loans where if you do have bad credit

but you do have an asset let's say you

have a car that is paid off you can do

something called a secured loan or maybe

they owe you here and be called a title

loan and that's where if you don't pay

the loan they can jack your car or your

house whatever whatever ask that you

have they will underwrite it so that

they would have access to that asset in

the event that you don't pay obviously

that's very risky if you know you're in

tech to not pay I I'm not liable but

when you actually have collateral it

makes people more comfortable to

actually loan you money because you have

some skin in the game you have something

to lose it's not only them potentially

losing out on thousands of dollars it's

you losing out on your ride if you are a

home owner I'm sure you know what and

you know what the equity in your house

is so if you

have seen some appreciation in your home

you can do a HELOC which is a home

equity line of credit basically a jumbo

credit card again everyone's situation

is different so I almost hesitate

suggesting this but you can definitely

tap into some of that equity if you are

looking to improve your financial

situation I cannot say this enough that

if I don't want to make anything wrong

mistakes out here but if you do have

that equity in your home you could

consolidate your debt and have it

wrapped up into your home another reason

why people would be more willing to give

you a loan is because you have a

collateral I mean it's your house so you

again you have skin in the game the only

thing about this that there are fees

associated with this if you obviously

have an interest rate which will be

probably higher than your current

mortgage interest rate there's appraisal

fees and maybe annual fees so you have

to kind of really acts a lot of

questions to your lender and see if that

makes sense financially before you just

jump in headfirst 401k loans obviously

not the best but if you have watched my

video up here about net worth and

retiring we do talk about depending on

what stage you are financially if it

makes sense to focus on paying down your

debt or building up your investments so

if you find yourself having maybe a

couple of tens of thousands of dollars

in your 401k but you also have twenty

thousand dollars in credit card loans it

would make sense to get a 401k loan

because the interest you pay on your

loan is paid to yourself sounds good to

me then you can actually pay off your

credit card debt because it's your 401k

typically you might have some really

good years where you're making

double-digit returns but on average

you'll probably be somewhere around

seven eight percent whereas credit cards

are absolutely in the double digits so

if you have all the money just sitting

in the fro 1k not only is your money at

risk because you don't know what's gonna

happen in the market but you're also

really doing yourself a disservice

because there is a guaranteed way to

make money or at least save money

because you're paying down that debt so

you know for sure if you have fifteen

percent of credit card interest if you

pay that off you for sure

have saved yourself 15% whereas if your

401k grows you don't really know for a

fact where that's gonna be in the next

year it might go down to zero for all we


so yes it's normally advised against but

if it's going to put you in a better

financial position go for it

peer-to-peer lending is a nother option

where maybe banks will say sorry good

luck with that there might be randoms

and the Internet willing to give you

some money for a return Lending Club is

something that I have seen people use

personally so I know it's legitimate I

know that you can actually get in there

and use it if we look into that read

read read do not just I have read these

terms of it it's just you lie in you

don't even read it take your time and

read it because when you are getting

into things like this you really don't

know what you're signing and you don't

want to end up in a bad position if

there was some sort of simulation in

there that you didn't read and I don't

come back to this video

Lending Club is just one example but

there are others so go ahead and take a

look on the internet and see what your

payday alternative loans now these loans

that normally credit unions offer and

credit unions do have better interest

rates because they are non-profit they

have to reinvest that money back into

their company so they don't really do

that with it lower interest rates and

kind of help the members of the credit

union some companies that I've seen that

you might need to just double check

because I seen mixed reviews but it's

been mostly negative is one main

financial so if you were looking into

doing this but the polls on it

definitely checks I've have seen some

very negative reviews it was in my

reviews I don't want to get sued but do

yours do your due diligence

another one is cash USA if you have had

any experiences with these things helped

a play out in the comments and put it

down below have you found any good

companies that were willing to work with

you but these companies I felt from the

Internet's it's just it was just it was

a hard no all right that's it if you

liked this video then please like this

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you know what's do binge watch me and if

you gotta go us alright I'll see you


and until then keep your money up