Post about "payday lenders"

How to Get Low Interest Payday Loans If You Have Bad Credit

Do you have bad credit and find that you need some extra money until your next payday? Then you might want look into applying for a no credit check cash loan or a lower interest payday loan online.You can obtain a cash advance online without having your credit checked. This means that even if your credit is not good it won’t disqualify you from getting your loan. The payday loan companies are not concerned with how you will use the money, so you can use it for anything that you want. Their biggest concern is that you will pay them back.The only things you need in order to qualify for these cash advances is a steady source of income and a checking account. If you are at least eighteen years old, if you satisfy these two requirements then you will be able to borrow up to $1,500. And many companies will deposit the money into your account the very same day that you apply.Who Uses Payday Loans?Payday loans are designed to help people with short term financial emergencies. Because the interest rates are usually so much higher than what banks and credit unions charge, pay day loans should never be considered as a regular lending source.People have gotten into some pretty serious financial trouble when they repeatedly obtained these types of loans. That’s why most people use them for a real emergency. And they don’t borrow more than they can pay back out of their next pay check.Low Interest Payday LoansInterest rates can vary by a lot from one company to the next. Because of that a lot of people compare interest rates and then choose the company that offers the lowest interest rates.Although it will take a little bit of time, do a search for “payday loans” or “cash advances” in your favorite search engine. When you go to the website look for the section that shows the APR or Annual Percentage Rate.The numbers may shock you! These rates reflect the percentage it will cost you to keep your loan for a year. However, these are the numbers you need to compare.Remember, thought, that these loans are designed to be paid back out of your next paycheck. Nonetheless, the rates could be anywhere from 10% to about 30% for that period of time. In other words, for every $100 you borrow you will need to repay between $110 and $130.So if you can invest a little time making these comparisons you will be able to save quite a bit of money when it comes time to pay back the loan.How to Apply for a Payday LoanIn order to get the payday loan all you need to do is go online and fill out a very short form. Most companies only ask for your name, address, banking information, and employment information.The approval process can take as little as an hour. Once you are approved your money will be electronically wired directly into your checking account. This usually takes from one hour to twenty-four hours.Many companies do not even ask you to fax over any information. However, even if that is required the funds you need can still be deposited into your account rather quickly.So, even if you have bad credit it should not stop you from applying for a cash advance online – if you really, really need it.The pay day loan companies will not check your credit. They will verify only the information you provide them. And the only reason they will get in touch with your employer is to verify that you work there.