No-Credit-Check Loans: A Really Bad Idea In spite of how serious your significance of quick cash, think before getting a loan that is no-credit-check. Why? Because they’re possibly because predatory as pay day loans or loans that are car-title can trap you in a period of financial obligation for a long time. These loans — also called no-credit-check installment loans — include yearly portion prices reaching upwards of 400% in many cases, far above rates find that is you’ll credit unions or with online loan providers, two alternative choices when you really need fast cash.