In a Nutshell
RadiantCash offers small installment loans, considering people with bad or no credit. But while you may be able to get cash quickly if approved, expect to pay a high interest rate on par with what you’d expect to pay for a payday loan — and higher in some cases.Pros
- Approved loans may be funded by the next business day
- No minimum FICO score required
Cons
- Only small loans available
- APR range is high
- Not a direct lender
What you need to know about a RadiantCash personal loan
RadiantCash is an online platform that connects people with high-interest installment lenders targeted toward people with bad credit. You can apply ffrom RadiantCash online and, if approved by a lender, may have the funds deposited right into your bank account by the next business day.
Tribal lender
RadiantCash is a tribal lender regulated by the Lac Du Flambeau band of Lake Superior Chippewa Indians.
High interest rates
Although loans offered through RadiantCash’s platform may have low credit requirements, you can expect an extremely high interest rate. The annual percentage rate for loans from RadiantCash’s network can range into the triple digits. The RadiantCash website states that these loans aren’t intended for long-term use, so keep that in mind when deciding if one of these very-high-cost loans is right for you.
Fast decision and funding
After completing an online application, if you’re approved for a loan, you may be able to access your loan funds the next business day. But keep in mind the exact timing depends on your bank.
A closer look at RadiantCash personal loans
- Borrow up to $2,500 — When applying through RadiantCash.com, you can borrow up to $2,500.
- Late fees — If you miss a due date, you may pay a late fee depending on the lender.
Who a RadiantCash installment loan is good for
RadiantCash installment loans could be an option for people with bad credit and a short-term need for $2,500 or less. While installment loans from RadiantCash are not considered payday loans, the interest rates charged are similar to the very high borrowing costs you’d see from the payday loan industry.
If you have a spotty credit history and are in a financial jam that could be solved by quick cash, RadiantCash loans might be an option for you. But avoid getting a loan for more than you need.
If you do get a loan through RadiantCash, you should pay it off as quickly as possible. Though the interest rates are so high on this type of loan that so you’re better off avoiding it altogether if you can.
How to apply with Radiant Cash
Applying for a loan with RadiantCash is simple. Start by going to the RadiantCash website and filling out a short form. You’ll need to provide some personal info including your driver’s license information, Social Security number, and bank account and employment information.
If you’re matched with a lender and accept your offer, you may be able to receive your funds in as soon as one business day.
Not sure if RadiantCash is right for you? Consider these alternatives.
- Avant: If you want a larger loan amount, longer payback period and lower interest rate, Avant could be a better choice for your needs.
- OneMain Financial: OneMain Financial can provide funding as soon as the same day in certain circumstances.
- Payday alternative loans: A payday alternative loan from a credit union is worth considering if you need money in a pinch.
*Approval Odds are not a guarantee of approval. Credit Karma determines Approval Odds by comparing your credit profile to other Credit Karma members who were approved for the personal loan, or whether you meet certain criteria determined by the lender. Of course, there’s no such thing as a sure thing, but knowing your Approval Odds may help you narrow down your choices. For example, you may not be approved because you don’t meet the lender’s “ability to pay standard” after they verify your income and employment; or, you already have the maximum number of accounts with that specific lender.