Most lenders require you to provide proof of income and undergo a credit check during the underwriting process. That’s because proof of income and a credit check both provide very different information for lenders. Proof of income shows that you make enough money to afford your loan payments. A credit check shows the types of credit account you have, when they were opened, account balances, and your payment history on past and existing debts. Your credit report does not show your current income information, just as your proof of income doesn’t show your payment history. This data plays an important role in determining your creditworthiness. There is one type of loan that relies on proof of income instead of a credit check, and that’s a payday loan. Payday loans usually require total repayment within a month or less, and the lender will want to automatically withdraw payments from your account when you receive your next paycheck. Payday loans provide a quick means to get by until your next paycheck, but they charge astronomically high interest rates for the convenience.