USA Income – Kenaf Society http://kenafsociety.org/ Tue, 22 Mar 2022 13:29:56 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 http://kenafsociety.org/wp-content/uploads/2021/10/cropped-icon-32x32.png USA Income – Kenaf Society http://kenafsociety.org/ 32 32 Why Debt-Afflicted Millennials Should Be Thankful for Inflation http://kenafsociety.org/why-debt-afflicted-millennials-should-be-thankful-for-inflation/ Tue, 22 Mar 2022 13:29:55 +0000 http://kenafsociety.org/?p=1341 Should you be concerned about inflation, as investors and economists are? Certainly not. It could even be a lifeline if you’re paying a mortgage or struggling with student debt.

Prices for everything from old automobiles to timber have been rising as the US economy gradually emerges from COVID lockdowns, with many customers flush with cash from government stimulus handouts. According to a recent study by the National Association for Business Economics, more than 60% of economists say the danger is more significant today than in the previous two decades.

Inflation, commonly measured by the Consumer Price Index, is produced by two factors: consumers have too much discretionary income or not enough products and services to spend it on. These dynamics can produce the same result: Price increases across the board to keep up with demand. Higher prices imply a reduction in purchasing power. Money loses its worth.

So, how does this benefit you?

If you’ve borrowed money for your schooling, a house, or anything else, inflation implies you may be able to repay the loan with dollars that aren’t worth nearly as much as the ones you were given. That could be good news for all types of borrowers, but especially for millennials, who have the highest level of debt of any generation.

There are numerous exclusions. For example, your pay must maintain pace with inflation, and your loan must have a fixed interest rate; otherwise, your interest would likely climb in tandem with other costs, consuming any potential savings. Even yet, for borrowers who match these conditions — and there are sure to be millions of them — inflation may cause interest to disappear mysteriously.

Chris Chen, a financial consultant in Newton, Massachusetts, adds, “It almost seems like a free lunch.”

If you’re looking for a loan with low interest be aware of the fact that GAD Capital is looking for trustworthy customers who can make punctual payments.

How does inflation benefit borrowers?

Assume you make $75,000 per year and have a 30-year fixed mortgage with a monthly payment of about $1,600, which is close to the national median, according to the US Census Bureau. You’re now earning $6,250 (before taxes, for simplicity’s sake), yet your monthly mortgage payments account for around 26% of your income.

Inflation is at about 1.6 percent, which is relatively low by historical standards. Nonetheless, if your pay stays at pace with inflation, you’ll be earning $95,200 in 15 years or roughly $7,900 per month. Your fixed monthly mortgage payment would be reduced to 20% of your take-home salary.

And suppose inflation climbs another percentage point to 2.6 percent, which is still below the long-term historical average of approximately 3%. In that case, your future wage will be a little more than $110,200, or about $9,200 per month, with your mortgage accounting for just about 17% of your income.

When inflation isn’t working

While inflation may be beneficial to people who have a fixed-rate loan, this is not true for those with a floating-rate loan, such as an adjustable-rate mortgage, variable-rate private school loan, or credit card debt. That’s because your interest rate is likely to climb in tandem with any income increases you get if not ahead of.

“Inflationary tides may raise all boats, and not always in a favorable manner,” says Brian Luke, head of Fixed Income Indices at S&P DJI, a financial data firm.

Borrowers’ interest rates on floating-rate loans are usually tied to market interest rates. Lenders are aware of the possibility that their money may be repaid with fewer value dollars in the future. Consequently, the rates they provide are higher than the rate of inflation.

Credit card borrowers, who have some of the highest rates on the market, might be particularly affected by rate changes. That’s because, according to Salt Lake City financial advisor Paul N. Winter, credit card firms tend to raise rates rapidly when inflation worries arise, generally as soon as the Federal Reserve raises short-term rates, but wait and only gradually drop rates when inflation fears pass. Winter explains, “There’s a bit of an unbalanced connection.”

Keep in mind that if your wage does not keep up with growing expenses, inflation may still affect your budget. According to Bureau of Labor Statistics statistics from 2008, when the Great Recession was at its peak, inflation surpassed wage growth by as much as two percentage points. According to PayScale, a pay data business, this is particularly true if you work in an area like education or the food and service industry, where incomes rise at a slower rate.

What to Do If Inflation Is Expected

Refinance: Experts believe that the first step should be to refinance any variable rate debt into a fixed rate if at all feasible. If you have an adjustable-rate mortgage or a private student loan with a variable rate, now is an excellent time to look into refinancing before rates rise. Although this may result in a more outstanding monthly payment since variable rates start lower than fixed rates, Chen believes it will be worth it in the long term if inflation rises.

Pay off credit card debt: If you have credit card debt, now is an excellent time to start paying it off so that your monthly payments don’t take up an increasing portion of your salary, mainly if you work in a field where earnings don’t rise as quickly.

Own stocks if you invest: You want your funds to keep up with growing costs. When you hold bonds, you’re in a similar situation to other lenders in that you risk being paid back with dollars that aren’t as valuable as the ones you lent out. Inflation may wreak havoc on the stock market in the short term, but in the long run, corporate earnings should keep pace with growing prices.

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What is a no credit check loan? http://kenafsociety.org/what-is-a-no-credit-check-loan/ Fri, 25 Feb 2022 08:00:00 +0000 http://kenafsociety.org/what-is-a-no-credit-check-loan/

No credit check loans are loans where the lender does not check the borrower’s credit before approving and lending loans. These types of loans can be tempting if your credit is poor and you don’t qualify for other products. However, no credit check loans can be risky and are generally not well regarded as they tend to come with extremely high interest rates.

What is a no credit check loan?

A loan without a credit check is a loan that does not require a credit check. You might be tempted to apply if you don’t have the best credit and think you can’t be approved for other types of financing products. Here are some examples of loans without a credit check:

Payday loans

Payday loans are small, short-term loans that you can repay the next time you get paid. In most cases, you will pay them back within two to four weeks. These no credit check loans are designed to provide you with fast cash to hold you over until your next paycheck.

Installment loans without credit check

With no credit check installment loans, you borrow a lump sum of money and repay it over time via installments or fixed monthly installments. They usually come with larger loan amounts than payday loans and can be used to cover just about any expense.

Auto title loans

Auto title loans are secured loans that use your car as collateral. You give the lender title to your car in exchange for borrowing money. The amount you can receive will depend on the value of your car. Most lenders will let you drive your car while you pay off the loan. If you default on a car title loan, the lender can repossess your vehicle.

Secured credit cards

You cannot be approved for a traditional unsecured credit card with bad credit. This is where secured credit cards come in – some issuers don’t do credit checks for them. When you sign up for a secured credit card, you make a cash deposit which is usually equal to your credit limit. The credit card issuer will take your deposit if you do not pay your bill.

Co-signer loans

If you don’t qualify for a loan on your own, ask a trusted friend or family member to be your co-signer and apply for a loan with you. You’re more likely to be approved and earn a great interest rate if you have a co-signer with good or excellent credit. Just be sure to repay the loan so you can improve your credit and not leave your co-signer responsible for the payments.

Why are no credit check loans a bad idea?

Although no credit check loans may seem like a great option, you should avoid them if possible. Their sky-high interest rates lead to high payments, which can land you in a cycle of debt and wreak havoc on your credit. You may find that a loan without a credit check does more harm than good to your long-term financial situation.

Many no credit check loans are considered predatory loans because the exorbitant interest rates can trap people in a cycle where they will never be able to repay the loan. Some lenders also add additional fees that make it even more difficult to get your finances back in order. Many no credit check loans turn out to be scams. Finally, since this type of loan does not build your credit, you lose the possibility of having your payments contribute to increasing your credit score.

Can I get a loan with bad credit?

You don’t have to turn to a no credit check loan if you have bad credit. Fortunately, there are many lenders who accept borrowers with bad credit. They may look at factors other than your credit to determine if they should approve you for a loan, such as your income, work history, and debt-to-equity ratio.

What are the alternatives to loans without credit check?

There are several alternatives to no credit check loans that can give you the funds you need, even if you have bad credit or no credit. Here is a brief overview of them.

Bad credit lenders

A number of lenders specialize in providing money to borrowers with bad credit. If you go with a bad credit lender, you may be able to get a relatively low interest rate for someone with less than stellar credit.

credit unions

Compared to banks, credit unions often have lenient requirements. As long as you are a member, you may be able to get approved for a loan from a credit union, even with bad credit. Credit unions will likely look at your overall financial situation in addition to your credit. In addition, the interest rate they can charge is capped at 18%.

Alternative payday loans

Alternative payday loans (ALPs) are small, short-term loans offered by some federal credit unions. They are generally more affordable than traditional payday loans and come with longer repayment terms. If you apply for PAL, a credit union will ask you for proof of your income to ensure that you can repay your loan.

Secured loans

Secured loans are backed by collateral, which is something valuable that you own. Collateral can be a physical asset such as a house, car or boat. It can also be a cash deposit. Since secured loans are less risky for lenders, you can get approved for a loan with bad credit. The caveat, however, is that the lender can seize your collateral if you fail to repay your loan.

The bottom line

If you have bad credit or no credit and need to borrow money, do not resort to a loan without a credit check. Instead, explore the alternatives available to you and think about the pros and cons of each. By choosing an alternative like a loan from a lender with bad credit, you can save on interest and significantly reduce the overall cost of borrowing.

Learn more:



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Loans without credit check: why avoid them and what to do instead http://kenafsociety.org/loans-without-credit-check-why-avoid-them-and-what-to-do-instead/ Wed, 01 Sep 2021 07:00:00 +0000 http://kenafsociety.org/loans-without-credit-check-why-avoid-them-and-what-to-do-instead/

Our goal at Credible Operations, Inc., NMLS Number 1681276, hereafter referred to as “Credible”, is to give you the tools and confidence you need to improve your finances. Although we promote the products of our partner lenders who pay us for our services, all opinions are our own.

Borrowing money isn’t out of the question when your credit is poor, but loans without credit checks are expensive and can trap you in a cycle of debt. (iStock)

If you need money for an unexpected expense, but your credit isn’t good enough to qualify for a traditional loan, you might think a no credit check loan is a good idea. While borrowing money when you have bad credit is not out of the question, products without credit checks come with exorbitant fees and should only be considered as a last resort.

Let’s take a look at how no credit check loans work, why you should avoid them, and some alternatives for borrowing when you have a poor or poor credit history.

What is a no credit check loan?

With a loan without a credit check, the lender does not check your credit report and score before deciding to grant you a loan. To offset the risk of lending money to borrowers with potentially poor credit histories, lenders without credit checks charge high interest rates and fees.

You may come across different types of loans with no credit check, such as payday loans, title loans, and personal installment loans.

Why do lenders check your credit?

Your credit report and score help lenders understand how you’ve managed your credit in the past and estimate your likelihood of paying off a new loan. For this reason, it is common to undergo a credit check when completing a loan application. Lenders aren’t looking for a perfect credit report, but they’re looking for history of missed payments, debts in collection, or a bunch of recent credit applications. Have a lower credit score may affect the types of rates and terms available to you and may even prevent you from obtaining a loan.

If you need a loan, Credible lets you compare personal loan rates to see what you might qualify for.

How do no credit check loans work?

Most reputable personal lenders will check your credit before agreeing to give you a loan. Types of lenders who don’t check your credit before giving you a loan often include payday lender shops, title loan shops, pawnbrokers, and online lenders.

To compensate for the omission of a credit check, these lenders typically charge high interest rates and fees. Even if you don’t have to submit to a credit check, you will still need to prove your identity and any source of income.

Keep in mind that most lenders without a credit check make no effort to ensure that you will be financially able to repay your loan on time. This is how a few different no credit check loans work.

  • Payday loans — After being approved for this little one, short term loan, you will receive your funds in the form of cash, check or direct deposit to your bank account. You must repay your loan – plus any finance charges or fees – by the due date, which is usually your next paycheck, or within 14 days. Finance charges are generally based on the amount of the loan, and payday loans come with a fee equivalent to an APR of 400% or more, depending on the loan amount. Consumer Financial Protection Bureau. To apply, you’ll probably only need to share your ID, have a bank account, and prove that you have a regular salary.
  • Securities lending — With a car title loan, instead of going through a credit check, you’ll use your vehicle title as a form of security to reassure the lender that you will repay your loan. You can apply for a title loan at a title lender’s physical or online store. Title loans typically range from 25% to 50% of the car’s value. To qualify, you must own the car in its entirety – it cannot currently be financed by a lender. You will need to bring your vehicle, title, photo ID and proof of insurance to the title loan store to receive the loan. Be careful here – once you’ve signed the contract, you must pay the loan fees and interest in full, as the lender may retain title to your car until you pay off your debt. You also risk the lender repossessing your car if you don’t repay your loan on time. In many states, securities lending is actually illegal.
  • Pawnbrokers — In some cases, pawnbrokers can be cheaper than payday loans, but you risk losing the item you pawned or paying a fee to extend your repayment term. Pawnshops accept items as collateral and, in exchange, provide a short-term loan equal to a certain percentage of the item’s value. If you repay the loan with interest during the repayment period, you will get your pledged property back. If you can’t repay the loan, the pawnbroker will try to sell your item for a profit.
  • Personal installment loans — A personal installment loan is a loan that you repay in installments or periodic installments. You can pay interest on each payment, and once you repay the entire loan, your account will be permanently closed.

Credible lets you compare personal loan rates from multiple lenders in one place.

Why are no credit check loans generally a bad idea?

Loans without a credit check are extremely expensive. The average two-week payday loan has a fee of $15 per $100 borrowed, which equates to an APR of nearly 400%. A credit card, on the other hand, usually has an APR ranging from 12% to 30%.

Payday loans are considered a type of predatory lending because lenders usually make no effort to ensure that you can actually repay the loan. So, if you are already in financial difficulty, one of these loans may actually make your situation worse. Payday lenders don’t consider your other financial obligations when deciding how much to lend you, which can lead to you biting off more than you can chew.

Some types of no credit check loans turn into a new loan unless you pay them back in full by a specific date. When this happens, interest continues to accrue and you can go into more debt. It can take years to get out of what you thought was short-term debt. Some lenders may add – and charge you – other products that you don’t need, which can further increase the cost of the loan.

What are the risks of a loan without a credit check?

Due to their high fees and interest rates, paying off a loan without a credit check can easily go wrong. Let’s look at how the exorbitant APR of a payday loan can add up to using a credit card (which is also considered a form of high-interest loan, but much cheaper than a payday loan) over a 30-day term.

payday loan

  • Amount of the loan: $500
  • APR: 399%
  • Repayment period : 30 days
  • Amount: $663.97

Credit card

  • Amount of the loan: $500
  • APR: 36%
  • Repayment period : 30 days
  • Amount: $514.79

These examples make it easy to see how taking out a payday loan puts you at risk of increasing your debt, worsening your financial situation, further weakening your credit or, in the case of a title loan, losing a part of your property. Of course, it should be noted that the credit card is more advantageous when you actually pay off the debt in one statement cycle. If you don’t pay it back within 30 days, interest will continue to accrue on the credit card balance.

Alternatives to No Credit Check Loans

No credit check loans aren’t the only way to get cash when you need it. If you have poor credit, here are some options that can provide financial support without fees and exorbitant interest rates.

Personal loans for bad credit

A loan for bad credit is a type of personal loan designed for those with bad credit. You will borrow money from a lender and repay it over a set period of time.

What it costs: Has higher interest rates than traditional personal loans, but better rates than a payday loan

How to get it: Through certain personal lenders

For whom it might be best: Those with credit down

Loan from family or friends

If you have a friend or relative who is willing to help you, you may be able to get a loan from them. You can create a formal agreement to make the loan more formal and avoid confusion.

What it costs: It depends on whether the friend or relative wants to charge you interest or fees. In many cases, a loan from a loved one is interest free.

How to get it: Ask a friend or relative for financial help.

For whom it might be best: Someone who is reliable and has strong relationships that will not be damaged by borrowing money

Credit union loan

A payday alternative loan, or PAL, is a type of personal loan that can only be taken out from a credit union. Loans from credit unions can be easier to apply for, and if you don’t qualify, the credit union can work with you to help you become more eligible for a loan.

What it costs: Loans from credit unions often cost less than those from for-profit financial institutions.

How to get it: Apply for a personal loan from your credit union (note that you will usually need to be a member of the credit union for at least one month before you can qualify for a loan).

For whom it might be best: Credit union members

If you are looking for an alternative to the loan without a credit check, compare the personal loan rates using Credible.



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How to get a free cash advance without a credit check http://kenafsociety.org/how-to-get-a-free-cash-advance-without-a-credit-check/ Thu, 01 Jul 2021 18:25:56 +0000 http://kenafsociety.org/how-to-get-a-free-cash-advance-without-a-credit-check/

7 free and low cost cash advance apps

1. Boro

Characteristics

You can access a loan of up to $2,000 at an interest rate that depends on your credit score. Repayment must be complete within 12 months. You don’t need to have direct deposit set up or a job. But you will be responsible for the monthly payments.

Cost

Membership is free. Interest rates are based on your creditworthiness. If you repay your loan within one month, it is interest free.

Who can use it

Boro is for students. You must be at least 18 years old and enrolled in a US college or university. Recent graduates may also qualify. Boro loans (called BoroCash) are only available in about half of the country. You will need to check the website to see if loans are available in your state.

Other features to know

Paying off your loan will help you build your credit. Payments are automatically deducted from your linked checking account.

2. Bridget

Characteristics

Get a free cash advance up to $250. No credit check is required. The first time you take a cash advance, it will automatically be deducted from your next paycheque, or you can request an extension of the due date once. As you use the app, you will be eligible for more payment due date extensions (up to three).

Cost

Brigit is free but not instant. For a same-day cash advance, you need the premium subscription for $9.99 per month. With this option, Brigit automatically funds your checking account to avoid potential overdrafts and allows more time for loan repayment, among other benefits.

Who can use it

You must have an active bank account with recurring direct deposit to qualify for Brigit Instant Cash.

There is no minimum credit score requirement and using Brigit does not affect your credit. However, Brigit may limit or refuse services if:

  • Your bank account is new (opened within the last 60 days).
  • You have an overdraft history on your account.
  • You haven’t received at least three direct deposits from your primary source of income.

Other details to know

Brigit provides free financial health updates, as well as information on additional income opportunities.

3. Chime

Characteristics

If you have direct deposit, Chime releases your pay the same day your employer deposits it. Most banks hold funds for 1-3 days. It’s not quite an emergency loan, but it does speed up access to the money you’ve already earned.

Cost

Free. There are no monthly maintenance fees, no fees if you go over your account, and no fees to use the 38,000 ATMs in its network.

Who can use it

Anyone can apply for Chime membership. You will need to provide your social security number, cell phone number, and address. You may need to provide a copy of your ID. Chime says opening an account won’t affect your credit score. Some features, like free overdraft protection, require a minimum direct deposit amount each month.

Other details to know

  • Chime is an app that partners with an FDIC-insured bank to help you manage your money.
  • You’ll earn more with Chime’s high-yield savings than most banks.
  • Chime offers a secure credit card with credit generator with no credit check required. The card has no annual fees, no maintenance fees and does not charge interest (because the account is pre-funded by you like a prepaid debit card).
  • Automatic savings is streamlined at Chime. Like most banks, Chime lets you set aside a portion of each paycheck. Chime also lets you round up every debit card purchase and put that spare change into your savings account.
  • Overdraft protection is initially limited to $20, but increases to $200 for members with positive account history.

4.David

Characteristics

You can obtain a cash advance of up to $200 when Dave notifies you that you are at risk of overdraft. No credit check required. If you have direct deposit, Dave gives you the money as soon as your employer transfers it.

Cost

A Dave membership is $1 per month. There is no minimum balance requirement for a Dave checking account. Qualified members can pay an additional fee to get up to $100 cash over the regular limit. Tips are accepted, but optional.

Who can use it

Anyone can join Dave. You will need to provide credentials and connect your bank account. You may be asked for proof of address or a copy of your identity document.

Other details to know

Dave offers a free rent statement service to help you establish credit and information on how to earn more money. Additionally, you can access your account through 32,000 ATMs free of charge.

5. Win

Characteristics

Get cash advances of up to $100 per day and $500 per pay period. No credit check required. The repayment date is your next payday, unless you request a different due date at least two business days before that date.

Cost

Free but Earnin accepts tips up to $14 per $100 withdrawal transaction. Tips are optional, but Earnin says they support the app financially.

Who can use it

Anyone with a job, bank account and direct deposit. You will first need to set up your Earnin account by downloading the app, entering your information and connecting your bank account.

Other details to know

Earnin is an app that partners with an FDIC-insured bank to help you manage your money. Earnin offers other features in addition to the cash advance product, including a savings tool, financial information, and a low balance alert. If enabled, the low balance tool will automatically transfer a $100 cash advance to your bank account when your balance drops below this amount (to help you avoid overdrafts).

6. Empower

Characteristics

You can get an instant cash advance of up to $250 anytime during your pay cycle. No credit check is required.

Cost

Empower membership costs $8 per month after a 14-day free trial period. Instant cash advances require an Empower checking account; if you want the money transferred to an external bank account, you may have to pay a $3 fee and it will not arrive in your account the same day you request it.

Who can use it

To be eligible for the free cash advance, you must have an established account with Empower and a minimum of direct deposits. To register, Empower will need your address, phone number, and social security number. You may need to provide a copy of your ID and proof of your current address.

Other details to know

  • Empower is an app that partners with an FDIC-insured bank to help you manage your money.
  • You can take advantage of an automatic savings plan that sets aside small amounts of money each week.
  • You will have free access to 37,000 ATMs.
  • If you have a direct deposit, Empower usually gives you the money the same day your employer deposits it. In many other banks it takes 1-3 days.
  • You can earn up to 10% cash back on debit card purchases.
  • Set your own spending limit to help you manage your money.

7. Silver Lion

Characteristics

You can get a free cash advance up to $250. No credit check is required. If you transfer your direct deposits to a MoneyLion account (called RoarMoney) or take out a MoneyLion credit loan, you can potentially access $300.

Cost

Free, but cash advances take 12 hours to 5 business days, depending on the type of checking account you have linked. If you want the cash instantly, you will have to pay a fee of $3.99 to $4.99 for each cash advance.

Who can use it

You will need to have already linked your current account and verified your identity to qualify for the free cash advance. Your cash advance limit will depend on the amount and consistency of your direct deposits. Limits start at $25. Also, your current account must be established (at least two months old) and active (used regularly).

Other details to know

  • Credit Builder Plus is a low interest credit loan that helps you build 12 months of payment history so you can build credit and save money. The loan amount can be up to $1,000, but you won’t have access to all of these funds immediately. You will receive part of it, and the rest is held in a reserve account and released as you make payments. The program fee is $19.99 per month and interest is charged on the loan.
  • Members who open a RoarMoney checking account can earn money on debit card purchases. Cash back is automatically invested in a managed wallet account where you can access it or let it grow.

Need a current account? Check out The Ascent’s roundup of the best checking accounts and pick the one that’s right for you.

Emergency loans

If you need money right now and haven’t set up one of these apps yet, you may still have options. If you have a credit card, you may qualify for a credit card cash advance. Members of some credit unions can get a low-cost alternative payday loan (PAL). Homeowners and renters can even qualify for a Small Business Association (SBA) disaster loan under certain circumstances. See our article on emergency loans to learn more.

If what you want is an ever-earlier payday, here are a few apps besides Chime that help you get your direct deposit faster (but might not offer payday loans or cash advances). funds):

  • Axos Bank
  • Go2Bank
  • SoFi Silver
  • Varo (Varo also offers free cash advances of up to $20 to eligible members, and larger cash advances for a fee.)
  • Wealthfront cash account



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Slick Cash Loan offers personal loans with no credit check for urgent needs http://kenafsociety.org/slick-cash-loan-offers-personal-loans-with-no-credit-check-for-urgent-needs/ Tue, 13 Apr 2021 07:00:00 +0000 http://kenafsociety.org/slick-cash-loan-offers-personal-loans-with-no-credit-check-for-urgent-needs/

Slick Cash Loan helps people meet their urgent financial needs with its no credit check personal loans.

GLENDALE, CA., April 13, 2021 /PRNewswire/ — Slick Cash Loan, the company borrowers rely on when they need cash urgently, has announced that people can meet their unexpected financial needs with its no credit check loans. With its vast network of reliable lending partners, Slick Cash Loan makes sure people who need money urgently get it quickly and easily.

“We are happy to announce that we now offer personal loans for all types of borrowers, even if you have bad credit,” says the Slick Cash Loan spokesperson. We offer loans to borrowers without looking at their financial history so that they can overcome their problems and move forward. We have met the financial needs of tens of thousands of borrowers regardless of their credit score, but using other valid criteria to determine their eligibility.”

Borrowers who are short of urgent cash and have no other reliable resource to fall back on can apply for a no credit check loan from Slick Cash Loan to solve their cash shortage problem. The application process is completely online and absolutely simple.

The biggest advantage of dealing with a technology-based lender like Slick Cash Loan is the convenience of the whole process. Candidates can be sure that their application for personal loans will be approved and disbursed within minutes or hours at most.

The loan approval process without credit check is simple. Borrowers must provide information about their employment, income and bank details. Lenders associated with the Slick Cash Loan platform will analyze this information, including recent payment records and credit usage, to determine the amount of loan an applicant is eligible for.

It is not possible for borrowers to raise funds quickly using conventional methods when they need money in a critical situation. Slick Cash Loan offers the most convenient and reliable way to access cash without having to go through the tedious and time-consuming credit check process.

Another huge benefit of using Slick Cash Loan services is that borrowers can avail loans of up to $5,000 while others only provide limited funds. The company is also aware of the need for quick approval and that is why, unlike other loan providers, it does not make applicants wait for days or weeks for approval. The online approval process is designed for quick approval so applicants have immediate access to funds.

To learn more about loans without a credit check, visit:
https://slickcashloan.com/personal-loans/no-credit-check-loans.php

For more information about the company, visit slickcashloan.com

About Slick Cash Loan:

Slick Cash Loan is the best resource for finding the right solution for fast and reliable loans. Slick Cash Loan has an extensive network of partners across the United States. The company stands out for its ease of approval and rapid financing of loans of all types.

Contact details:

Name: Mark
Email: 306660@email4pr.com
Company: Slick Cash Loan
Phone: (888) 200-7445
Website: slickcashloan.com

Quote

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The advantages of loans without a credit check http://kenafsociety.org/the-advantages-of-loans-without-a-credit-check/ Fri, 29 Jan 2021 08:00:00 +0000 http://kenafsociety.org/the-advantages-of-loans-without-a-credit-check/

A loan without a credit check is a popular choice among people with bad credit who wish to acquire a loan. There are times when you will need extra cash for an emergency, but you will not be able to get a traditional loan due to the poor state of your credit history.

If you have bad credit, it’s important that you take action to improve your credit score. However, if you need cash fast while working to improve your credit score, a no credit check loan would be your best option.

Below are the benefits you can get if you choose to apply for this loan option.

Available for any type of credit

Since it is a no credit check loan, many are eligible to apply for it, even people who have bad credit.

Lenders will only ask you for your source of income and how much you earn each month. This loan option is only limited to those who have a bad credit history. Anyone with any type of Credit Report can apply for a loan without a credit check.

It’s also the best choice for people who are just starting to build their credit or protect their credit history, because lenders won’t investigate your credit score. Other loan options require a thorough investigation of your credit report, which will reflect on your credit history.

Practice

No credit check loans can be processed online giving you a hassle-free experience. Online lenders offer most loans without a credit check. They will only need you to complete their online application and upload the requirements through their website or app.

The online no credit check loan application can be done anytime and anywhere as long as you have an internet-connected device. If you are busy during office hours, you can always apply for the loan at night or even at dawn whenever you can.

Quick approval

A no credit check loan is also the best option if you are looking to get some quick cash. Unlike the traditional loan, which usually takes several weeks to be approved, a no credit check loan will only take a few hours to be approved.

For emergencies where you need money fast with bad credit, don’t hesitate to opt for the no credit check loan. There are various no credit check loans you can choose from. It’s best to familiarize yourself with these options to know which is best for your situation.

Types of loans without a credit check

A no credit check loan is not a unique type of loan. This is an option for the most available types of loans on the market.

Below is the list of all No Credit Check Loans to know which type of loan offers no credit check to their borrowers.

payday loan

One option for a no credit check loan is the payday loan. In general, a payday loan is a short-term loan that requires you to pay the full principal plus the interest rate on your next payday, as the name suggests.

A payday loan without a credit check is the best option for you if you just want borrow a lower amount cash. It is also a good choice among other no credit check loans because it will not put you in debt due to its unique payment method. In one payment, you will be fully paid without any obligation afterwards.

Title loan

If you need a larger loan amount and more time to pay off the loan, a title loan is your best option. Securities loans are taken out against the value of the vehicle that you will use as collateral.

You are still allowed to use your car even if you have offered it as warranty. However, if you fail to repay your loan, you will automatically lose the car as payment for the money you owe.

Only individuals who own the collateral vehicle with no remaining balance will be considered for a title loan. If you think you qualify for a title loan, it would be best to inquire about this option with your trusted lender.

Installment loan

Although installment loans generally require a credit check and only people with good credit are eligible, other lenders may offer an installment loan without a credit check as an option to their borrowers.

Lenders will only need your proof of income, some relevant information, and your social security number. After that, your application will then go through the approval process, skipping the credit check.

Carry

Contrary to the mistaken belief that no credit check loans are dangerous, this loan alternative is actually helpful if used correctly. As long as you know how to be careful and know how to choose the right lender and loan option for you, you have nothing to worry about.



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