Buró Free Loans: Why You Should Get One

January 29, 2024

Problems with your credit history? The "no buro loans" offer a financing alternative even when your score is not ideal. In this article, we provide you with key information to understand how to access these "no buro loans", the minimum requirements and what you need to consider before taking this financial route.

Key Points

  • No credit bureau loans offer financing without considering credit history, which is beneficial for people with negative credit scores, although they tend to have higher interest rates and fees.
  • Applying for no credit bureau loans is simple, usually online, and accessible 24 hours a day, facilitating immediate access to credit in emergencies.
  • It is essential to research the reliability of lenders and compare the terms of no-bureau loans, as well as to be aware of risks, such as high interest rates and risk of fraud.

Understanding No Credit Bureau Loans

Buró Free Loans: Why You Should Get One

No credit bureau loans are an option for those who have difficulties with their credit history. This type of financing does not take into account the applicant's credit history. This means that people with a negative credit bureau score can have access to financing, which is not always possible with traditional credit. However, it is important to clarify that although credit history is not used as the main criterion for granting these loans, it still plays a role in the lender's risk assessment.

To apply for a no credit bureau loan, most companies require official identification, proof of income and that the applicant is of legal age. The application process is usually quite simple and is done online. It usually involves selecting the repayment amount and term, entering some personal information and waiting for the lender's evaluation. In some cases, the response can come in a matter of minutes.

These types of loans are attractive to people with low credit scores who are looking for financing. In some cases, no credit bureau loans may be more affordable than traditional credit, especially for those with a negative credit history. It is important to keep in mind that while these loans can be useful in emergency situations, they are not a long-term solution to financial problems.

Advantages of bureau-free loans

One of the main attractions of bureau-free loans is the speed with which you can get a response to your application. In many cases, it is possible to receive the money on the same day of approval. This can be of great help in emergency situations, where time is a crucial factor.

Another advantage is that these online loans can be applied for completely online and are available 24 hours a day, 7 days a week. This means that you can apply for a loan from the comfort of your home, without having to wait in lines or adhere to bank opening hours. In addition, the fact that the application is made online facilitates the process, since it is not necessary to submit a large amount of documents or fill out complicated forms.

Finally, one of the reasons why people opt for bureau-free loans is because they are accessible even for those with unfavorable credit history. Some companies, such as Hola Dinero, require minimal requirements, which facilitates access to financing for people who would otherwise have difficulty obtaining a loan.

Disadvantages and risks of bureau-free loans

Despite their advantages, bureau-free loans are not without their disadvantages and risks. One of the biggest disadvantages is that they often include:

  • Higher interest rates compared to other financing options.
  • Higher fees.
  • Significantly higher total cost to the borrower.
  • Difficulty repaying the loan in full.

Another risk associated with these loans is that they may have unrealistic repayment terms and difficult to meet repayment requirements. This can lead to over-indebtedness and financial and emotional stress. In cases of default, the borrower could lose valuable assets used as collateral for the loan.

Finally, there is the risk of fraud and breach of security of personal information when dealing with unregulated lenders. It is important to investigate the lender and make sure it is licensed and reputable before applying for a no-bureau loan.

Basic requirements for applying for a no-bureau loan

Although no-bureau loans are more affordable than other forms of financing, there are still some basic requirements that applicants must meet. First, a valid ID and proof of income are required. This allows the lender to verify the applicant's identity and ensure that they have a source of income.

In addition, applicants must be of legal age and reside in the country where they are applying for the loan. This ensures that the applicant is legally able to enter into a loan agreement and that the lender can take the necessary actions in case of default.

Finally, it is essential to have a personal bank account in Mexico and to have an active cell phone in order to apply for a loan without a credit bureau. The bank account is used to deposit the loan money, while the cell phone is used for communication during the loan application and approval process.

Alternative financial institutions

There are several alternative financial institutions that offer no credit bureau loans. Some of them include:

  • Sol Credito
  • Hello Money
  • Zen Credit
  • Kueski
  • Lendon
  • Ferratum Money
  • Creditea
  • Money
  • Doopla

These companies are supervised by CONDUSEF and operate person-to-person lending systems.

These institutions often start with high interest rates that can improve for those who prove to be good payers. However, it is important to research each option and read the terms and conditions before applying for a loan. This will allow you to fully understand the associated costs and avoid unpleasant surprises.

In addition, it is important to remember that although these companies offer bureau-free loans, there are still certain requirements that must be met in order to be eligible for a loan. Therefore, it is important to make sure you meet these requirements before applying for a loan.

Improving Your Credit History

While no-bureau loans can be a short-term solution, it is important to work on improving your credit history over the long term. To maintain a good credit history, it is important:

  • Use no more than 50% of your credit card limit.
  • Be on time with your payments
  • Avoid late payments that can hurt your credit score for 7 years.
  • Keep credit debts low
  • Do not close old credit card accounts.

Managing multiple types of credit demonstrates financial responsibility and is beneficial to your score. It is vital to assess your ability to pay so as not to exceed 30% of your monthly income devoted to debt. To manage and pay debts effectively, you should:

  1. Prioritize those with the highest interest.
  2. Organize payments.
  3. Seek financial advice.
  4. Follow a personalized plan.

To start or recover a credit history, you can choose basic products such as a cell phone plan, credit cards or a departmental card, understanding that a good credit history is crucial to access better loans in the future. Remember, a solid credit history can open many doors in the financial world.

Tips for choosing the best bureau-free loan

Choosing the best no bureau loan can be a challenge, but there are some tips that can help you in the process. First, it is essential to review the interest rate and fees before applying for a no bureau loan. This will allow you to understand the total cost of financing and compare different options.

In addition, you should keep in mind that paying off a no credit bureau loan before the agreed date could imply an additional expense. Therefore, it is important to consider this factor when making the decision to apply for a loan.

Finally, it is crucial to research the lender and make sure it is licensed and trustworthy. This can help you avoid scams and ensure that you are working with a legitimate company.

How to avoid no-bureau loan scams

Unfortunately, the world of no-bureau loans is also full of scams. To avoid falling victim to one, it's important to follow a few guidelines. First, you should confirm that the lender is authorized and trustworthy by consulting CONDUSEF's Registry of Financial Service Providers (SIPRES).

In addition, you should be alert to companies that offer loans with no requirements and be suspicious of those that ask for an initial deposit for administration and management fees. These types of practices are warning signs of possible scams.

Finally, it is important to follow these steps to avoid fraud:

  1. Verify the identity and registration of the company before CONDUSEF.
  2. Do not hand over personal documents or credit card information without validating the company's seriousness.
  3. Make sure the credit is viable before paying commissions. Remember, if something seems too good to be true, it probably is.

Successful cases of bureau-free loans

Despite the risks, there are many success stories of people who have used bureau-free loans to achieve their goals. One example is a single mother who was able to finance her son's education thanks to a no-bureau loan. She took out a loan to cover school expenses while improving her employment situation.

Another successful case is that of a young entrepreneur who obtained a no-bureau loan to start his grocery business. Thanks to this loan, his business is now profitable and growing steadily, attracting more customers and offering excellent service.

Finally, one couple was able to deal with a medical emergency thanks to a no-bureau loan. This online no bureau loan prevented them from becoming insolvent while they recovered from the situation. As you can see, while no bureau loans can have their risks, they can also be a viable solution in certain situations.


In summary, no credit bureau loans are a financing option that can be useful in certain situations. They offer the ability to get money quickly without having to meet the strict requirements of traditional credit. However, they can also come with higher interest rates and other risks, so it is important to research and fully understand the terms before applying for one.

Remember, the best way to avoid financial problems is to be responsible with your finances. This means paying your debts on time, keeping credit debt low, and working to improve your credit history. By following these guidelines, you may have more financing options available to you in the future.

Frequently Asked Questions

What lender will lend you money without checking my credit report?

You can get loans without checking your credit bureau through Baubap or Kueski. Both options offer loans without a good credit history, which is an excellent alternative!

Where can I borrow money if I am in the credit bureau?

You can ask for a loan through a crowdfunding fintech, where the loan is granted by a group of people. You can also consider options like Kueski, which evaluates other factors besides credit bureau history when approving loan applications.

Which bank lends you instant money?

The bank that lends you money instantly is Banco Azteca through its "Presta Prenda" service. This simple collateralized loan offers you different terms so you can choose the one that best suits your needs.

How to apply for the 50,000 peso government loan?

You can apply for the 50 thousand pesos government loan through Banco del Bienestar if you meet the requirements, such as being at least 30 years old, operating a non-agricultural business for at least 6 months, and having an official ID and CURP in force.

About the author
Carlos Pérez

Carlos Pérez

Carlos loves finding the latest credit card offers and understanding all the pros and cons of banking services.