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Here we’ve compared the best £100 lenders for people with bad credit upon all of the main factors including APR, late fees, rollovers, terms, and levels of acceptance.

Piggy Bank has a great APR% representative of 1270% compared to other providers.

It also has great online customer reviews from 3rd parties.

Although you might have a negative view of Wonga from the bad press, it may have made them clean up their act. Their APR% is around 1286% representative, and they have good online reviews.

Sunny was our payday loan winner last year, and still represents a good deal at 1291% APR representative for people with bad credit wanting to borrow £100.

They also have a fantastic online reputation, with no late fees.

Lowest APR 100 loans for bad credit

The APR is a good measure of the overall cost effectiveness of your payday loan, and so here we have our top 3 lowest APR payday loan providers in the UK.

Wizzcash represent the best APR% representative at the rates we checked around 1265%. However their online reputation on 3rd party sites is non-existent (minimum reviews) and so it’s hard to recommend them as we have no factual data to assess them against. Borrower beware.

£100 loan – is it right for you?

Life happens, and if life demands a little more cash than you have in your account at the moment, a mini loan might be just the solution you’re looking for. These loans are small, available for a short time only, and carry a high annual interest rate. If you need the money now, and you can pay it back quickly, then these loans are both handy – and a great way to improve your credit rating.

How to borrow £100?

Step One

Check out online lenders on our website, then apply online. Many lenders will do a “soft credit check” before offering you a specific rate. These checks are called “soft” because they won’t show up on your credit rating. Before issuing a loan, reputable lenders will do a full credit check, which will show up on your rating. It is illegal for lenders to skip this step, so if someone is offering you money without a credit check, refuse it – you may be exposed to other illegal activity if you take the money.

Having a credit check on your rating is not a bad thing – but having several of them is. It is not good to give the impression (rightly or wrongly) that you are in desperate need for cash and have tapped out most of your options.

The benefit of a £100 loan, besides the quick cash, is that it is designed as a low-risk way for lenders to give you a chance at rebuilding a damaged credit rating. Many of these loans are available to people with bad credit, and many of them don’t require a guarantor or anything put up as security.

Step Two

Enter the amount you are applying for – in this case £100 – and give additional information as needed. There may be additional information available at this stage, such as the term (usually 90 days) and the repayment schedule (usually three equal payments).

It is a good idea to check policies regarding late or missed payments as well. You may not intend to miss any, but be sure you know what’s coming if you do. It might not be worth selling your guitar to help make a payment in a pinch – but then again it might. Know your options and penalties so you can make an informed decision.

Will a bad credit history affect my 100 loan?

In short, yes – but it doesn’t mean you can’t get one, and the decision isn’t personal. Lending is a business, and whether they say yes or no to a loan doesn’t have anything to do with who you are as a person. Lenders use a simple question to determine whether or not they will lend money: is the money to be made worth the risk?

A poor credit history means that the loan is a higher risk; if you’ve had financial trouble in the past, you are more likely to have it again. That’s going to work against you. Asking for a higher amount for your loan is also going to work against you. Since you can’t change your credit rating in an instant, you can lower the lender’s risk by lowering the ask. That’s where the £100 loan comes in. The credit rating indicates some risk, but the £100 amount lowers it.

The other side of the coin is the money to be made. Lenders make their money through fees and interest. The fees are usually a set amount, and many loans don’t carry fees (other than for late and missing payments). Interest rates are very high for £100 loans, but they will be even higher if you have a poor credit rating. This only makes sense: if you are a higher risk, they need to make more money.

Use a £100 loan to improve your credit score

If you do get a £100 loan, even with poor credit, the good news is that paying back as agreed will actually increase your credit rating, making it easier and cheaper to get more credit in the future. If you have a poor credit rating, it may be worth the money to secure some credit (like a £100 loan) and pay it back as agreed, even if you don’t really need the extra cash.


Be sure to read this guide on borrowing for the short term to ensure you do not end up in trouble financially from missing payments.

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