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Bad credit loans

If you have a bad credit history, it can be hard to secure a loan from mainstream lenders. You may have had trouble keeping up with repayments in the past, received a County Court Judgement or even have no credit history at all. If you need a loan, Morses Club may still be able to help, subject to affordability.

When we talk about bad credit loans, it refers to a type of loan that may be suited to people who have perhaps had a less than perfect credit history. Morses Club may be able to offer you a bad credit loan that could help if you come up against unexpected costs.

How do bad credit loans from Morses Club work?

Morses Club is a direct lender of UK bad credit loans. If you are a new customer with a low credit score, you can apply online today to borrow between £200 and £1000. Our loans have different terms, which are based on the amount you want to borrow, however your weekly payment amounts are fixed, so you always know how much you need to repay.

  • Initial online decision
  • No hidden charges or administration fees
  • No guarantor needed
  • Fixed weekly payment amounts
  • Friendly agent home-collection service or repay online
  • Fixed interest rates

As well as this, you'll have the security of knowing that you’re dealing with a reputable direct lender with a history of over 130 years.

Apply for a loan online and see if you could be approved in principle for a Morses Club loan. You will get an instant decision online on whether you have been approved in principle or not. There's no paperwork involved; however, you may need to provide documents during your affordability assessment.

To get a clearer picture of how your Morses Club loan might look, you can use our sliding tool below.

I'd like to apply for... £200.00
£200 £1000
Paying back over...
Repay... £10.00 per week
Interest rate 84.86% APR 498.78% Finance charge £254.58 Total to repay £544.58
Repay... £14.22 per week
Total to repay £554.58
Existing customers can borrow between £100 and £1500 subject to approval. Borrowing between £300-400 over 52 weeks is available to existing customers subject to approval. Please login here
Minimum Term 39 weeks
Maximum Term 52 weeks
Maximum Apr 498.78%

How can I get an unsecured loan with a bad credit history?

For those with imperfect credit, some loan companies would require a guarantor to co-sign with you when you apply, who would be responsible for paying back the loan should you not be able to. Morses Club don’t currently offer a guarantor loan option.

At Morses Club we understand that an imperfect credit rating isn’t always the full story. That’s why when you apply for a loan, we don’t just look at your credit score. We consider a range of factors, including your income and the affordability of loan repayments. This builds a fairer picture of your financial situation before we make a decision.

What is a credit score?

Your credit score is used by lenders to help determine whether you qualify for a loan, credit card or other credit. This is based on your credit history and how you've handled your finances historically.

There are many factors that go into determining your Credit Score:

  • Information on your credit report such as how much of your available credit you're using and total debt
  • Your history of credit account payments
  • Credit searches (such as when a credit application is made)

The three main Credit Reference Agencies in the UK that determine your Credit Score are Experian, Equifax and TransUnion. You can go online at any point to any of their websites and find out your Credit Score for free.

For definitions of other common financial terms, take a look at our jargon buster page.

Will bad credit loans improve my credit score?

Taking out a loan may have a positive impact on your credit score if you make your payments on time. Making a late payment or missing a payment altogether will likely result in a negative effect on your credit score.

Applying for multiple loans at once or having an excessive number of loans will also likely have a negative impact on your credit score as it can appear that you’re reliant on credit, so it’s important that you carefully review your circumstances before applying for a loan.

Can you get a bad credit loans without a bank account?

Yes, you do not need a bank account to access one of our bad credit loans. With Morses Club, you need to be over 18 years old and a UK resident. You have the option to receive payments into your bank account, or one of our friendly agents can deliver a cash loan to your door.

Can I get a Morses Club loan with no credit check?

No, it’s not possible to get a loan without a credit check from us as we are a responsible lender. Morses Club carry out credit and affordability checks on every applicant, and we cannot provide loans for bad credit without a credit check because we believe in lending responsibly. You can find out more about this here.

Can I apply for bad credit loans?

Bad credit loans are often assessed on more factors than just your credit score*. An imperfect credit score may not necessarily mean that your application is turned down. Each application is examined and considered before a decision is made to lend money. Some lenders may offer very bad credit loans at a high interest rate, so it’s important that you do your research before applying.

If you’d like to apply for a Morses Club loan, you can do so using the button below. If you have any questions or queries, please do not hesitate to contact us.

*Excludes people who have been declared bankrupt, applied for Sequestration, had a Debt Relief Order or an Individual Voluntary Agreement within the past 6 years.