Protect Yourself from Financial Drama with an Online Line of Credit

Nothing can ruin your day faster than an overdraft notice from your bank – and it’s even more painful if you have bills or other expenses that need to be paid with the funds you believed to be safely ensconced in that account. It seems to be true that no matter how carefully you budget and track your dollars, we’re all human and we all make mistakes – and sometime those mistakes will be financial. This is one of those occasions when the best defense is a good offense: an online line of credit protects you from days or weeks with no cash and a bank account under water, waiting anxiously until payday and trying to figure out how to make up for the lost funds and get your budget back on track. “Pad” your account with some extra cash when you know you’re running short, just to ensure against an overdraft even if you don’t think you’ll need it – or if the shortage happens by surprise, you’ll be able to get cash back in the account quickly so you don’t have to spend the time until your next payday broke and in crisis.

How is An Online Line of Credit Different from a Regular Payday Loan?

The main difference is that it’s flexible! With a standard payday loan you request a specific amount of money, and repay it on the following payday – and you’re finished. An online line of credit gives you a lot more flexibility in a couple of different ways. One way is that you’ve already been approved, so you don’t have to go through that process at the time that you discover you’re in need of cash. The other is that the amount you can borrow at any time is more variable. If you think you might be running a little short before payday and want to make sure you don’t get hit with overdraft charges, just take out one or two hundred (which will cost you very little in fees and interest!) – alternately, you can borrow more, up to your approved limit, if you find yourself faced with unanticipated expenses that will be difficult to fit into your budget. Repayment can be all at once, or arrangements can be made for a longer term by paying at least the interest each payday.

Nearly Everyone Qualifies for an Online Line of Credit!

The requirements for this type of loan are very basic and almost everyone will qualify for some approved amount, as long as you meet those requirements. Got bad credit? That’s ok! The lenders mostly use an alternative set of criteria to determine approval rather than the standard credit check! In addition, applicants need to be at least 18 years old, be able to supply their address and phone number, and have a bank account that is able to both send and receive electronic transactions, as well as having a verifiable income that meets the required minimum income limit. Depending on your income and other factors, the amount you can be approved for will vary, but why not have this option in your back pocket, saved and ready when you need it? Apply today for an online line of credit loan!

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