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Your Guide to Low-Credit Loan Options

Everything You Need to Know About Title Loans, Flex Loans, and Other Low Credit Loan Types

loan options in Kansas City

There are lots of reasons a person may find themselves in need of some extra cash. Unexpected medical bills, emergency home repairs, or the need to repair or purchase a vehicle are common reasons. Most people don’t have the luxury of having an emergency fund to cover such things and often go with the first option they stumble across to solve the problem.

However, the first option isn’t always the best and by taking time to examine all your possibilities you can decide which is best for you and which may just be making an acute problem even worse in the long run.

Most people who don’t have the extra cash lying around are people who live almost paycheck to paycheck, and because of this often are the same people who have low credit and can’t get a loan through a traditional bank. There are options available for you though. Some are just better than others. Below we are going to explore some more common types of low-credit loan options.

Low credit sometimes means higher interest

If you were to go online and do a quick search for no credit check loans or quick cash loans, almost all the top results are going to be payday loans. There are tons of companies out there that offer payday loans and they often have poor reputations for taking advantage of their customers.

Payday loans rely on people who need money quickly and who are usually desperate. When you get one, the payback time is typically your next pay date and if you don’t pay it off in full, the interest accumulates fast because the interest rates on them are high.

To avoid paying the high interest rates, if you pay the amount off in full then you may not have enough money to get through until your next payday and you find yourself back in the same boat. Payday loans can quickly and easily lead to a vicious cycle of desperation. Seeking and applying for a payday loan should be a last resort.

Cash from your credit card

Having credit cards is great and you can use them to help supplement things in your monthly expenses when you don’t have enough money on hand. If you have a credit card, then you already know how easy it is to just use it for groceries or gas when the balance in your checking account is getting low.

One option most credit cards have is the ability to get a cash advance against the credit limit. This might be helpful if you need the money for something you can’t put on a credit card but the only problem is, you have to have a credit card. Also, before you do this, you will want to check what the interest rate is on a cash advance using your credit card because it may differ from the normal rate you pay for your other purchases and there may be specific rules on how to pay it back.

This option is better than a payday loan but may not be available to everyone. You usually can’t get a cash advance on your credit card that is going to put your balance over the limit for that card.

Credit cards are fine, but for cash advances, the interest rates tend to be high and you won’t be able to borrow much.

Flex loans

If you don’t have a credit card or your credit isn’t the best, flex loans are something you can consider. They often help create revolving credit because you can apply for a loan several times up to the pre-approved limit you have already been given.

Here is how they work. You apply for a flex loan using an approved lender, and you get approved for up to a certain amount. You can borrow that amount and then as you pay it back, you can borrow more if needed up to the original amount you borrowed.

So, for example, if you borrowed $5,000 initially and have already paid back $3,000 you would have a loan balance of $2,000 left. You suddenly need a little extra cash so you could borrow $1,000 and then it gets added onto your loan balance so you would now have $3,000 left on your balance to pay off.

These are good for people who want to establish good credit and if you can get approved can often work a lot like a credit card would only with better interest rates.

Car title loans

If you are unfamiliar with what a car title loan is, they are simple. You borrow money using your car as collateral. Doing this typically gives you the lowest interest rate out of all the options we have discussed because it is the only one you are using collateral for. The amount you can borrow depends on the type and condition of your car and the process is typically pretty quick because what matters most is the car and not your credit score. Once you pay the loan off, the title is returned to you.

Title loans are the best option available for most people because they don’t require good credit, have the lowest interest rate, and the only thing required to get one is your car.

Where to get a title loan in Kansas City

There are many options for title loans, however, if you are looking for title loans in Kansas City you can’t beat the low-credit lenders at Midwest Title Loans. So, call us or stop by and see exactly what we offer and how we can help you. Or, to get started right away, fill out our online info sheet.


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330 W. 85th Street
Kansas City, MO 64114
Phone: (816) 363-8600
M-F: 10:00am – 6:00pm
Sa: 8:00am – 1:00pm

6420 North Oak Trfwy
Gladstone, MO 64118
Phone: (816) 436-7711
M-F: 10:00am – 6:00pm
Sa: 9:00am – 2:00pm

8212 Metcalf Ave.
Overland Park, KS 66204
Phone: (913) 381-2222
M-F: 10:00am – 6:00pm
Sa: 9:00am – 2:00pm

2500 State Ave.
Kansas City, KS 66102
Phone: (913) 281-9997
M-F: 10:00am – 6:00pm
Sa: 9:00am – 2:00pm