Christmas Loans | 5 Best Christmas Loans For Bad Credit (2021)



According to a 2018 Credit Karma poll, over 80% of Americans are concerned about overspending for Christmas or the holidays, and some lenders specialize in Christmas Loans. If you haven’t prepared — or haven’t been able to save — for your holiday expenditures and are considering taking out a Christmas loan, here are some things to think about and choices to explore.

#1 Christmas Loan in 2021 – Very Merry Loans


Best Christmas Loans – Quick-Pick:

  1. Very Merry Loans – Overall Best Loan Option For Christmas. Visit now.
  2. Viva Payday Loans – Best Bad Credit Loan Provider. Visit now.
  3. Money Lender Squad – Best For No Guarantors. Visit now.
  4. Credit Clock – Best for Fast Approvals. Visit now.
  5. Heart Paydays – Best for Low APR. Visit now.

What Are Christmas Loans?

The term Christmas loans, sometimes known as holiday loans, is merely a marketing word. They are personal loans that are promoted to consumers who wish to fund holiday items. Your rates, periods, and possible loan amounts will vary depending on your income and credit history, just like any other personal loan.

Christmas loans can be meant to meet a short-term need; however, they are not generally short-term loans. Term lengths typically range from one to five years. Although it is convenient to have many months to return the debt, it is not a good idea to take several years to refund the cost of a single Christmas. As a result, it’s advisable to look for Christmas loans that let you pay off the loan early without incurring penalty costs.

Common Uses of Christmas Loans

  • Refinancing a Car: The holiday season is driving season. A new car with a brand-new warranty typically implies that you won’t have to pay for any repairs you would require to keep an older vehicle on the road. This saves money both immediately and in the long run.
  • Diverse Consumer Durables: It turns out that the bulk of our consumer durables loans are utilized on items that are a little bit fun or a little bit interesting.
  • Home Improvements: Home repairs and upgrades are seldom inexpensive. They might, however, contribute a few bucks to your bank account if done correctly. If you’re going away for the holidays, consider renting out your home on Airbnb for a revenue-neutral vacation.
  • Debt Consolidation: It might be tempting to be stupid during the silly season, and the effect can be overwhelming. Consolidating your debt into one simple payment, on the other hand, might alleviate the stress of the situation.

How To Qualify For Christmas Loans (Eligibility Criteria)

Being a U.S. citizen or permanent resident, being at least 18 years old, and having a low debt-to-income ratio are common conditions for a personal loan. Your credit score may also influence your ability to obtain a holiday loan. While you can get a Christmas loan with a low FICO score, people with high or outstanding credit receive the best loan prices and terms.

5 Best Christmas Loans – Fully Reviewed

1. Very Merry Loans – Overall Best Christmas Loan Option

Very Merry Loans is an online lending site that links borrowers with top lenders in the United States. The site provides access to payday loans, bad credit fast approval loans, and same-day loans that may be applied for just a few minutes and paid out in around 60 minutes. 

This lending platform of Very Merry Loans is simple. The business connects applicants with lenders who are most likely to honour their loan requests. The broker can supply you with a list of some of the most well-known lenders in the United States. In some instances, these loans are paid out in as little as 24 hours.

Loans vary from $200 to $5,000, with applicants able to choose a loan term that best suits their financial condition. Most customers repay loans up to $2,000 (payday loans) within 7 to 31 days, while extended loan duration ranging from two to 24 months are available for more significant sums. Interest rates vary from one lender to the next, but most offers generally range from 5.99 percent to 35.99 percent.

Applicants must be at least 18 years old, an American citizen, earn at least $1,000 per month (from regular employment or an alternative income source), have evidence of address, and a verified form of identity to apply.


  • Borrowers with poor credit and the jobless are both welcome.
  • There are options for longer payback terms.
  • Loans range from $200 to $5,000 available.


  • 30-day loans have a high-interest rate.


2. Viva Payday Loans – Best for Bad Credit Payday Loans

Viva Payday Loans is the most excellent all-around poor credit payday lending website. Borrowers may discover a range of payday loans bad credit ranging from $200 to $5,000 with terms ranging from 2 to 24 months. As a broker site, you may complete a short online application form and obtain loan approval feedback in less than two minutes. You’ll find out if you’ve been accepted or refused.

If you are authorized for a loan, you will be transferred directly to the payday loans poor credit direct lenders who will provide you with the money. If the lender can help you, they may ask for more information, such as proof of address, bank statements, and evidence of income (pay stubs). 

The lender will draft and furnish you with a loan agreement upon receipt and verification of these papers. After reviewing and approving the terms and conditions, the borrower signs the loan and receives the cash by direct bank deposit shortly after that. The loan is repaid through a monthly automated withdrawal.

The interest rate varies from one direct lender to the next, but the site typically provides rates ranging from 5.99 percent to 35.99 percent. Viva Payday Loans doesn’t skimp on offerings; the company offers payday loans to those with bad credit, no credit, benefits, and even unemployed.


  • Payout on the same day
  • Loan amounts vary from $200 to $5,000.
  • The application procedure takes 5 minutes, and the approval process takes 2 minutes.


  • There is no upfront information on the range of interest rates offered by Vivaloan lenders.


3. Money Lender Squad – Best for No Credit Check Payday Loans


Money Lender Squad is another excellent choice for individuals seeking an online payday loan. It provides low APR with no guarantor for residents of the United States. Those with poor credit can also apply for a payday loan with a payback period ranging from 60 days to 24 months and receive money immediately. Money Lender Squad concentrates on clients often neglected by other big Cash advance applications because of its rapid loan acceptance.

Because no credit checks are necessary, most borrowers’ primary concern is affordability. Money Lender Squad’s web portal has an online form that must be filled out entirely and completed before being shared with the app’s many different sorts of lenders. The complete loan approval and payout procedure are completely automated, so all you have to do is wait a few minutes for a lender to connect with borrowers who have reached an agreement.


  • The loan period has been lengthened.
  • Application for a loan is completed quickly.
  • There is no requirement for a guarantor.
  • In the event of a problem, a team of money lenders will step up to help.


  • A lower credit score can lead to an increase in rate charges
  • This app’s maximum APR is considerably over 400 percent.


4. Credit Clock – Best for Same Day Payouts

Credit Clock is one of the best payday loan brokers, offering borrowers personal and bad credit loans, starting from $200 up to $5,000. Most borrowers love this platform because of its fast application process that takes just a couple of minutes. Once your loan application is approved, you should expect the disbursement of your funds in 24 hours or less.

How Credit Clock approves borrowers’ requests is very straightforward. The only proof you need is your income, which must show that you earn at least $1,000 every month. Other eligibility criteria include the age, which requires you to be at least 18 years old, proof of home address, and is an American citizen.


  • You can apply even with bad credit
  • The approval and application process is super fast
  • Disbursement of funds is done in 24 hours or less


  • You must be on an income not less than $1,000


5. Heart Paydays – Best for Low APR

Heart Payday is one of the most reputable payday loan apps in the US. Their website is simple for first-time users since it does not complicate applying for a payday loan online.

The online loan application procedure may be done quickly from the comfort of your own home. Borrowers with a low credit score who want to acquire a loan for $200 to $2000 can use the heart paydays portal.

It requires just over 2 minutes to file a completed loan application online, and borrowers often receive a response from the app confirming their loan request acceptance and disbursement begins within 60 minutes. Heart Paydays is one of the most acceptable Cash advance applications since they accept and assist borrowers who other platforms have denied.

This platform makes no distinction between potential unemployed borrowers, having low credit and being on government assistance. Heart Paydays provides loans up to $5000 with a repayment period of 24 months, plus interest.


  • There is no need for phone calls or papers.
  • You might pay payday loans for a short period back within 24 hours.
  • Loan payout takes less than an hour


  • Some loans have high costs.
  • Long-term loans have hefty interest rates.

Features of Christmas Loans

  • Prequalification – Some lenders allow you to prequalify for a loan by performing a soft credit check, not affecting your credit ratings. Submitting several prequalification forms might assist you in narrowing your selection of lenders.
  • Christmas loans are instalment loans, which include monthly instalments and a set repayment schedule. That is, they will have monthly payments due over a certain period, making it easy to schedule into your budget.
  • Interest rates – Personal loans often offer lower interest rates than credit card interest rates, depending on loan conditions and how your credit looks. Taking out a personal loan instead of charging all of your Christmas shopping may save you money on interest.
  • If you pick an online lender, the application and funding procedure will be quick and straightforward. If accepted, you will receive cash quickly. If you’re approved, you may have your loan the next business day, giving you extra time to prepare for the holidays.

Advantages and Disadvantages of Christmas Loans


  • Money can be accessed as soon as the next working day.
  • Some Christmas loans are not subject to a credit check.
  • There are no use limitations.
  • A short-term loan with a set payment schedule
  • Borrowers with solid credit might get cheaper interest rates than credit card companies, mainly if they can borrow through a credit union.
  • Loan applications are frequently quick and straightforward to complete.


  • Late payments might have an impact on your credit score if your lender reports them to credit agencies.
  • Lenders can link borrowers’ bank accounts for automated loan repayments, resulting in overdraft penalties if the bank account balance is too low.
  • Borrowers with poor credit generally pay higher interest rates than credit card APRs.

How To Get Christmas Loans

Step 1: Visit Very Merry Loans

The layout of the Very Merry Loans website is user-friendly and straightforward to understand. To apply, all you have to do is click on “Apply Now” at the top right side of your screen.

Step 2: Complete The Application Form

The application form requires you to fill out your details, such as your name, address, income, monthly expenses and banking information.

Step 3: Get Your Decision

It only takes two minutes to get feedback on your loan application. You shouldn’t step away from your screen as the application is being processed. If your loan is not approved, they will still contact you.

Step 4: Receive Your Loan

If your application is successful, the vendor will provide you with a loan agreement which you are required to sign after carefully going through the terms and conditions. The loan amount requested is transferred directly into your account after you return the signed document.

Tips When Borrowing Money For Christmas

If you need to take out a Christmas loan, these guidelines will help you borrow wisely.

1. Have a Budget Early

Although there is a lot of emphasis on your Christmas budget, it doesn’t mean you should disregard all of your usual monthly costs. So, before the month begins, make a list of every expense you anticipate incurring.

Make sure to begin your budget with the four walls—food, utilities, housing, and transportation. After you’ve covered the necessities, make a list of your additional monthly costs, such as cable, phone bills, and everything in between.

Budgeting for Christmas might help you keep your spending under control. Ideally, you’ll begin saving early and be able to pay the expenditures with cash and, if possible, a Christmas bonus.

If you do borrow, aim to repay your loan within four to six months after returning from your vacation. If your budgeted costs take a year to pay off, you’ll most likely be in the same scenario the following year. And if you have to borrow again, you’ll always be paying off Christmas debt.

2. Know What Traditions Matter the Most

Although it may be tempting to keep every tradition alive in perpetuity, you should carefully consider your Christmas costs and determine if you may eliminate any of them.

You might do a gift exchange with one family member instead of shopping for everyone, or you could remain at home and rent a movie instead of taking everyone to see the year’s major release. Lowering costs will result in less debt. 

3. Avoid Christmas Finance Traps

Some types of Christmas loans are harmful to your finances and cost more than they are worth. Avoid payday loans, vehicle title loans, and shop credit cards if you expect to get into debt for the holidays.

Online shopping may be pretty tempting. However, you may take advantage of it throughout the holiday season. Shopping malls and department stores are intended to entice customers to spend money.

Sale signs are frequently in red to create a feeling of urgency, the most expensive products are usually at eye level, and basics are always at the back of the shop, forcing you to walk past a lot of other merchandise. Furthermore, retail employees are expected to upsell for their business to meet sales objectives.

4. Plan How Your Repay Your Loan

Ideally, combining the two ideas above will help you limit your spending to only what you can afford. However, if you need to borrow money, there are a few things to consider.

First and foremost, do you have a strategy to repay the money? The sooner you pay off the loan, the less interest you will be paid, and the less likely it is that your obligations will spin out of control.

Second, repay as much as you are able. People are frequently ensnared in the minimum payback trap, particularly with credit and store cards. However, if you pay the most significant amount possible, you will clear the debt sooner.

Finally, do you qualify for a 0% interest purchase credit card? If you are, and you follow the two procedures above by paying as much as you can each month and paying off the debt before the promotional period expires, you’ll need to do away with incurring future costs.

5. Start Saving for the Next Year

The most excellent way to spend money during Christmas is to use what you’ve saved for it.

Start saving in January if you want to avoid going without next year. Simply calculate how much you want and divide it by ten. Then, between now and October, strive to put that much aside each month for Christmas. You’ll then have two months to replenish your fund if it’s depleted.

If you’re concerned about using your savings for other purposes, you may set up separate accounts for each savings objective. So you’ll have one for Christmas, one for your vacation, one for emergencies, and so on.


If you decide to take out a Christmas loan, be sure you understand all of the fees and have a strong strategy in place for repaying the debt. Verry Merry Loans is our top-rated Christmas loan provider and the application process is straightforward – just head over to Verry Merry Loans official website and follow the prompts. 

Request Your Payday Loan at our Top Rated Provider – Very Merry Loans



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About Denzil Otieno PRO INVESTOR

A procurement graduate. Young business owner. A smart business investor.


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