Not only are 90% of Americans stressed about money, but 73% of them rank financial problems as the #1 stressor in their lives. If you’re struggling, a fast cash advance online can help alleviate some of this stress so you can boost both your mental health and financial wellness.
Here, we’re going to give you the ultimate guide for quick cash advance loans so that you know exactly what to expect. Read on to learn the basics and benefits of payday loans and to get some advice on how to get a loan with bad credit.
A fast cash advance online is a payday loan. This means that it’s a small loan that comes almost immediately. You’ll be able to spend the money on whatever you need now and pay it back with interest later.
These loans are unique in that they don’t require a credit check.
Banks and other government-based lenders will put in a hard inquiry to check your credit score. If it’s too low or you haven’t built enough credit yet, you won’t get the loan.
This isn’t true for no credit check cash advances. You can fill out a form and get an immediate loan without a credit check. This is ideal for people with bad credit or those who haven’t spent time building credit yet.
It also is great because a hard inquiry would take a couple of points off your credit score. An online payday loan doesn’t do this, so you can protect your FICO number.
Quick loan approval also sets cash advance loans apart from alternatives.
If you went through a bank or credit union, you probably wouldn’t be paired with a lender for a few days. You also wouldn’t get your funds for a week or so after that.
A no credit check loan online won’t do this. FastLoanDirect will pair you with a pre-vetted lender within just a few hours. You’ll get a next-day direct deposit after talking with them so that you can make rent or pay your utility bills ASAP.
Most people who consider payday loans have bad credit. This means that their FICO score tends to be between 300-579. This range constitutes a ‘bad’ or ‘poor’ credit score.
However, they’re also important to think about if your score is simply ‘fair.’ ‘Fair’ scores are between 580-669. A hard inquiry would be a heavier hit to someone with any credit score below ‘good,’ especially because those with scores lower than 670 often are turned away by banks and credit unions.
Multiple hard inquiries could seriously damage your FICO score, so it’s best to avoid them unless you have very high credit.
In reality, anyone can benefit from a fast cash advance regardless of their credit score!
The core demographic for payday loans is those who need emergency cash fast. This will include people who:
However, a fast cash advance online can pay for anything. It’s basically just asking for an advance on your paycheck (assuming that you pay it back the next time you’re paid). Once you’re approved for the loan, the money is yours to spend as you please.
This means that those planning weddings or other special events can take advantage of payday loans. You could also use the funds to take your dream vacation and have new experiences. Paying it off later is a great possibility for those who want to enjoy life now.
Many people have to pay multiple credit card bills every month. Some people don’t mind this, but it’s still much harder than it would be to just pay a single outstanding balance.
If you have multiple credit cards to pay off, you’re more likely to forget about payments. You might miss a payment without even realizing it and incur a late fee. Missed payments also take a hit on your credit score, as do late payments.
Unless you’re really organized, you’re likely to miss something.
However, payday loans can consolidate your debts. You take out enough money to pay off all your credit cards and are left with a single loan to pay off. You’ll be able to stay organized and make payments more easily.
You are also likely to save on interest fees. The average credit card APR is about 23.55%. This adds up a lot over time.
Some payday loan lenders that FastLoanDirect works with offer as low as a 5.99% interest rate. Though our highest number is 35.99%, the vast majority of quick loans with no credit history check will have a lower APR than your credit cards.
You can easily apply for funds online. FastLoanDirect’s website will guide you through the entire process.
The first thing to do is enter the sum you want to be loaned to you into the website. This dollar amount can range between $100-$35,000. Don’t take out more than you need, but make sure that you do get all the funds you require to be comfortable.
Then, you’ll be prompted to provide some additional information. Your name, phone number, address, and social security number are common questions.
At this point, our experts will pair you with one of our pre-vetted lenders. We only work with reputable and reliable companies, so you don’t need to worry about being paired with someone unscrupulous.
From that point, you’re going to work on getting the loan with your lender directly. You’ll have to give them some documentation to prove your identity, age, and citizenship. A driver’s license and social security card are generally sufficient.
You then will negotiate an APR with them and come up with a feasible payback plan. By the time you sign anything, you’ll know when payments will start. You’ll also know what you’re going to owe them on a monthly basis.
There are several benefits of no credit check loans:
When you pay back credit cards, your monthly payment amount will depend on how much you spend. Figures vary, which can be confusing and make budgeting difficult.
However, payday loans don’t work this way. You’ll know upfront how much you need to pay every month. The number is fixed so you can easily predict your payments and set aside money for them.
You’ll also know exactly what day your monthly payments are due before even getting the loan. Make sure to read over documents closely and see how long your payment period is as well.
A fast cash advance online can also help you to build or improve your credit.
Some people think that payday loans can make your credit worse, but this isn’t usually the case. Your credit score only takes a hit if you can’t make your monthly payments. But if you do stick to a payback schedule, you can reap many benefits.
If you don’t have any credit built up, taking out a loan and repaying it on a schedule lets you build up your credit score. It also can diversify your credit if you already have some. This will make you look great to future lenders including landlords and credit card companies.
If you have bad credit, paying your loan installments back on time can help to boost your credit score. You’re going to come out looking great assuming that you get all your payments in. It proves to other future lenders that you have a history of paying things off properly and are responsible with money.
While financial stress can impact every aspect of your life, there are simple ways that you can get back on your feet. Now that you know the basics of getting a fast cash advance online, it’s time to get started.
FastLoanDirect is excited to help you get the money you need to thrive. We’ll assess your specific situation and pair you with a lender that approves you for a loan. Fill out our online form to begin the process of finding someone who will get you the funds that you need to alleviate your financial struggles.