No Hard Credit Check Payday Advance | $1000
Get a payday advance with no hard credit check. This means your credit report from the big three credit bureaus will not be viewed prior to loan approval. If you credit score is bad but you still need a cash infusion to cover some short term financial needs then apply with us today. We work with people everyday that have poor credit.
Our lenders do not run a hard credit check. Some may run a soft credit check to see if you have outstanding payday advance loans. Our loan application will also not affect your credit score. You could be approved for up to $1000 or maybe even more depending on your state of residence and your application.
The payday advance loans offered by our network of lenders are unsecured installment loans. So you will have from 3-9 months to repay the borrowed amount. Each payment is equal and generally paid monthly consisting of principal and interest.
What Need to Know About Getting a Payday Advance Online
Have you been researching online payday advance companies?
More people are turning to payday advance loans to help them in a financial jam and to pay down necessary and maturing bills. About 33% of people in the US have taken out a personal loans in recent years, and that will continue to grow.
There are a lot of companies out there, and it can be hard to tell the best ones from the scammers.
Keep reading to learn how you can find the best loan companies for payday advance loans online.
What is a Payday Advance?
A payday advance differs from other types of loans like mortgages or student loans because they can be used for just about any purpose.
People generally take out payday advance loans to cover expenses during a challenging time.
Interest rates vary a lot in the industry, but that will ultimately depend on your personal situation and where you live.
A payday advance is unsecured, meaning that they're not backed by collateral.
Secured loans require that you put up some kind of collateral in case you default. That's usually your house or car, which you can lose if you fail to pay back your loan.
What to Look for in Personal Loan Companies?
Do you think that a personal loan can help your financial situation?
If you have bad credit, your options limited to get a loan. There are companies that will issue loans for bad credit. Unfortunately, there are many companies that are eager to prey on people with bad credit.
Here's what you can do to find the right company for your payday advance or personal loan.
If you're like most people, you'll start the process be researching companies online. The first place you'll want to look is at the Better Business Bureau to see if the loan company has any complaints against it.
You'll also want to look at other review sites to see if there are any negative reviews.
Watch for Loan Guarantees
A reputable lender cannot guarantee that you'll be approved for a loan without knowing your financial situation. That includes your income, credit score and debt utilization ratio.
Anyone who guarantees loan approvals is most likely trying to rip you off.
Look For Offers That Work For You
Pretty much no lender is going to lend money without doing their homework on the borrower. Online lenders are either going to run a hard credit check or a soft credit check.
Don't Give in To Pressure Tactics
As a consumer, you have every right to shop around for a loan and take your time to make a decision.
Loan companies that constantly contact you to pressure you into a loan should not be considered. Reputable loan companies aren't desperate for you to sign up for a loan.
Are There Extra Fees?
Loan companies are in business to make money. How they make money can determine if they're a legitimate company or not.
Most reputable companies make money of off interest. Some companies will charge additional fees, so you need to read the fine print before accepting a payday advance offer.
For example, some companies have loan origination fees, and prepayment penalties if you pay the loan off early. Steer clear of these offerings, there are better ones out there.
If a company charges you a fee to apply for a loan, that's a good sign they're not a good loan company. It's actually against the law to charge an application fee in certain areas.
Pre-Apply for Personal Loans
Some long term loan companies allow you to see loan options before you apply. They'll collect some information and do a soft credit pull, which doesn't impact your credit score.
This will let you shop around for loan companies without it destroying your credit in the process.
They will give you a few loan options, and if you decide to formally apply, a hard credit check will be pulled. Hard credit checks impact your credit score, so you only want to apply for a loan if you are sure the loan is right for you. This generally happens for larger loans of a $2000 plus.
Assess Your Financial Situation Before Your Apply
Before you apply for a loan, you should assess your financial situation. The more that you know where you stand, the easier the loan process will be.
It's also a way to protect yourself from lenders that don't have your best interests in mind.
Keep An Eye On Your Credit Score
It's easy to find out your credit score.
You can access your credit score by contacting the three main credit bureaus. They are required to give you a free credit report once a year. You can also go to AnnualCreditReport.com.
Credit scores range from 330-830. Anything below 650 is considered bad. Anything above 700 is good.
The higher your credit score, the better chance you have to have a loan approved and you can get a better interest rate.
Don't despair if your credit score is low. There are options for loans, even if your score is 400.
Know Your Debt Utilization Ratio
Another item that is factored into the loan process is your debt utilization ratio.
It's also called a credit utilization ratio, which is the amount of credit used compared to what you have available.
Your debt utilization ratio is expressed as a percentage.
For example, you have credit cards and your credit limit totals $10,000. You only have $2500 in debt, which would make your debt utilization ratio 25%.
This ratio is an indicator to loan companies as to how well you use the credit available to you.
Credit companies believe that the higher the ratio, the more likely you'll have trouble repaying the loans. You can be denied or given a higher interest rate as a result.
A good debt utilization ratio is about 30%.
Payday Advance Loans Can Help Your Short Term Financial Situation
An online payday advance is a good financial tool to get you out of a bad financial situation quickly. As long as you manage your finances wisely, and stick to a budget, your financial situation can improve a great deal.
Disclaimer: WireLend is not a lender. Must be 18 to apply. All loan terms are between you and the lender. No guarantees you will be approved.