How do I know if a payday line of credit is a good choice for me?The great thing about a payday line of credit is that all the repayments you make go back into the “pool” of credit you’ve been approved for, so those funds become available for you to borrow again! This is a great option for someone whose paydays don’t line up well with your bills’ due dates, or who gets paid only once a month and sometimes needs access to your next paycheck before it’s time for you to get it, in order to pay bills on time.
Sounds great! What do I need in order to apply?
A lot less than you might think! Banks and financial institutions often require a number of items that an online payday line of credit application doesn’t – financial statements, prior year tax returns, collateral – but you can apply for a payday line of credit pretty much on the fly. If you’ve got a way to connect to the internet, and basic information like your employer’s address and phone number, and a check to copy your bank’s routing number and your account number off of, you probably have everything you need.
OK, I’ve got those things. What next?
The next step toward your payday line of credit is to click on the link and head over to the website. All the information you could need is there, so if you have any questions there should be a page that has the answer! Locate the payday line of credit application, and be sure to fill it out as completely as you can! One of the biggest mistakes you can make is to leave out information – there aren’t many questions, but that means they’re all important. The other error you want to avoid is rushing through and including typos in your application! One misplaced number in your bank account or phone number can invalidate the whole application, since the information can’t be verified.
Honesty time now – my credit score is terrible. I really messed up last year. Can I still be approved?
Yes, you can! The network of dedicated lenders who provide payday line of credit loans know that a lot can happen in a person’s life that can disrupt their financial life, but that doesn’t necessarily make them a bad credit risk. There are other ways to evaluate a person’s likelihood of repaying a loan in a timely and responsible fashion, so our lenders use a different set of criteria instead of pulling a credit report and basing their decision on events that happened years ago.
Now the important question – how fast can I get my payday line of credit cash?
Really fast. Is that fast enough? Ok, in all seriousness, it depends on when you submit your application. As soon as you sign off on the paperwork, the lender will be free to disburse the funds to your bank account. However, your bank needs to put the deposit through their clearing process, and the timeframe for those vary. Most require an overnight wait, so if you apply late in the day, it might be too late to get the funds the next day. Other than weekends, though, it should never be much more than a twenty-four hour wait.