Cash Till Payday Loans
Money problems can be very stressful, especially when an emergency comes up and your next paycheck isn’t due soon. The best option would be to dig into your savings and handle such emergencies. On the other hand, you could borrow money until payday and repay it when your salary comes through.
You don’t have to fret in case of a bad credit score; most online cash till payday loan lenders don’t do credit score checks. However, you do need to be vigilant when searching for the right lender to work with. An online lending platform will give you access to numerous lenders to pick the ideal one.
What Is Cash Till Payday Loans?
Loans till payday are short-term loans that you can access through online lenders. They have a short repayment period ranging from 10-30 days and can incur a high fee. Due to their high-interest rates, it’s best to opt for these loans in case of emergencies only. Unlike some loans, loans till payday don’t take long to process, and the lender’s decisions are made quickly. This makes them the ideal loan for handling minor emergencies at home or work. Some of the emergencies that you can take care of with payday loans include medical bills, buying food, and home repairs, among many others.
Remember that all states offer cash till payday loans. Payday loans are not legal if you reside in states like West Virginia, New Jersey, Vermont, Pennsylvania, Massachusetts, Georgia, New Mexico, Arizona, New York, North Carolina, Arkansas, and Connecticut.
How Do You Apply For A Payday Loan?
The application process for these online payday loans is relatively easy, takes no time, and doesn’t require any collateral. To get your loan, you need to follow the steps below:
Fill the Form
Visit the Money-Wise website, then fill out the required details such as the full name, email address, and the desired loan amount. Then hit the “Get Started” button to proceed with the loan approval process.
Offers Review
Now, we’ll show you the best relevant offer for your cash till payday loan request. You can now click on the “Apply Now” button, and then proceed with the further loan approval process. This process doesn’t take long to approve, especially if you provide all the necessary financial information.
Instant Deposit
Finally, once your loan has been approved, you will receive the funds directly into your bank account within 24 hours. Ensure that you use the same bank account you want to make your payments from.
Payday Loans Basic Qualification Requirements
Though online lenders won’t subject you to a credit score inspection, there are some basic requirements that you must meet to get a loan till payday. These don’t qualify you for a loan; they just get you through the loan application door. They include:
- Proof of employment
- Credible personal content info such as email, home address, and phone number)
- Active bank account
- You must be at least 18 years old
- Be a citizen or permanent resident in the USA
You should also be ready and willing to provide any additional information the lender might need. When providing this info, stick to your truthful and correct financial information.
Some people tend to use fake financial information with the intent of getting a loan and disappearing. If you need a cash advance loan, using phony information can cost you the loan you’re busy applying for. The use of fake information will violate the loan agreement between you and your direct payday lenders.
Frequently Asked Questions
How Much Money Can You Get?
Most payday loan lenders offer anywhere from $100-$500 to be deposited directly into your bank account. The standard charges for these loans range from $10-$30 for every $100 you borrow. However, the amount of money you can get will also depend on your state of residence, lenders, and credit score.
Though most payday loan lenders don’t check for credit scores, a good score means you’ll have a chance of getting more money with better interest rates. In some states, you won’t even manage to get any payday loans as they’re illegal.
Why Are Cash Till Payday Loans Popular?
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Though payday loans come with higher fees and cover expenses than most online loans, they have features that make them attractive to customers. Aside from getting a quick response from payday lenders, other factors include:
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Use of Mobile Cash Advance App
Using mobile cash advance apps simplifies the borrowing process and improves customer service. Most online direct lenders have cash advance apps that you can use for better services.
For example, most of these cash advance apps can readjust your payday, make payments and view how much you’ve already paid.
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Instant Cash
When you have an emergency, it usually gets worse with time; thus, sorting it out fast is always the best option. Once you come to terms with a direct payday lender, they will send your cash till payday loan to your bank account within 24 hours.
This direct deposit of funds helps you get out of the jam you’re in pronto. You get a payday loan in time to sort out your problems.
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Credit Score Inspection
Poor credit scores can be a big hindrance when borrowing money from most financial institutions. However, online lenders for small and short-term loans tend to overlook or go easy on their customers.
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Payment Date Modification
Though not all direct lenders offer this option, some, like cash till payday, do, and they don’t limit the number of modifications you can make. However, it’s important to remember that the longer it takes you to clear the loan amount, the more money you’ll end up paying.
Pros
- Fast funding loan amounts
- Easily accessible
- Minimal requirements
- Don’t require collateral
- No credit score inspection
Cons
- High Annual Percentage Rate
- Doesn’t help improve your credit score
- Increased chances of falling into a debt cycle
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How To Avoid Payday Loans? Tips
Since emergencies happen without warning, you can reduce their effect by preparing in advance. This will help cushion you when trouble strikes out of the blue. If you don’t have enough money to sort out the emergency, you’ll at least need to borrow less money.
We’ve created a short list of steps you can take to prepare early for such eventualities. They include:
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Building Your Credit
Even if you diligently pay your loan till payday, it doesn’t help you build your credit score. This is because most online lenders don’t bother reporting your payment progress to any major credit bureaus. It’s, therefore, important that you work on improving your credit score to avoid overdraft fees.
Once your credit score improves, it will improve your chances of getting traditional loan products. These loans will come with some competitive interest rates and many options of financial institutions to choose from. One sure way to build your credit score is to make your loan payments as agreed and on time.
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Planning Ahead
Planning for emergencies early is a great way to combat problems when disaster strikes. Create an emergency fund in a savings account that has easy access.
You can start with as low as $5. Try to avoid cash advances and only focus on credit builder loans.
Apply Your Cash Till Payday Loans Online Today!
Now that you know what to expect from a cash till payday loan, you must try to avoid them. They can be of great help, but you need to prepare for them to avoid falling into a debt cycle and always borrowing more money to repay previous loans or to push you till the next payday.
Cash till payday loans are usually paid into your checking account. However, you can use most cash advance apps that work great with your savings account for payday loans online or cash advance loans. You not only get your money instantly, but they also help with financial tracking. You also get reminders for your repayment date, pay period, and late fees.
When applying for a payday loan online or through payday lending, fill in the correct details when providing your contact and financial information. You don’t want to miss out on an emergency payday loan due to incorrect information. You should also check your state’s financial regulations to see whether payday loans are legal. Money-Wise can help you with more information!
