No credit check loans are readily available, you just need to know which one is the best for you. The worth of a loan with no credit check will vary from a few dollars, up to lots of cash, depending on your job and a few other things. If you need some money fast, read on to learn more.
Getting quick cash is one of the great things about this country. There are hundreds of different options to get cash without checking credit. You have options like payday cash advance, cash advances, and title loans. We’ll take a look at each one of these choices in a little more depth so you know which option is the best for you.
Don’t foget that loans with no credit check are going to be expensive and risky, but are necessary for those that don’t have good credit. Be very careful to not count on these loans to stay financially afloat. The floor can quickly fall in after missing one payment, and you are falling deep into the debt trap. Many of these stores that offer no credit check loans expect that most of their customers are going to have a hard time reapying and plan to make a ton of cash in extension fees and fines.
No Credit Check Payday Loans
Payday loans without credit check are available to anyone who has a job and can prove who they are. The idea is idea, you prove how much money you earn and they loan you money until you get paid again. They’ll either have you post-date a check for the amount you were lent, plus interest, and they’ll cash it after your loan is due. Or, they’ll have you fill out your bank account information and they’ll automatically withdraw it.
The risk with these loans is the interest rates. The average rate is $25 per $100 borrowed. This is pretty big, but if you have bad credit there aren’t a ton of other options to get the cash that you need. The payday cash advance companies will go to great lengths to get their money, so expect to have to deal with them later if you miss a payment.
Payday cash advances are the most common no credit check unsecured loans. Just about anyone who applies is approved for a loan. If you live in an area that has multiple payday advance stores, be sure to take some time checking into their rates and terms. This added time can save you hundreds of dollars or get you more lenient terms for repaying the loan.
No Credit Check Title Loans
Title loan lenders don’t care what your credit score is, and they don’t pay a lot of attention to how much money you make, what they do care about is how much your car is worth and if it’s paid off. This is one of the few no credit check secured loans around. They’ll determine the value of your ride and lend you up to 50% (each company is different) of its total value. Your car has to be paid in full, and most lenders have rules about the minimum worth of a car before they can give you a loan (usually more than $5000). This is another of the most popular types of no credit check cash loans.
The risk of title loans is pretty obvious, if you don’t pay they repossess your ride. Many people get themselves in trouble with this when they get a loan and don’t have a job. Title companies don’t care about your employment history, so they can lend you money while knowing that you don’t have a method to pay it back. They’ll then repossess your car from you, sell it, and keep everything.
These certainly aren’t your only choices when it comes to getting money without a credit check, but are the most common and easiest to get.