If you have no credit at instant easy cash loans, there is nothing for a lender to check, except for your employment income or any income you receive. No credit does not disqualify you from getting a loan. Bad credit may or may not be a problem.
It depends on a lenders decision. Faster Processing. The obvious upside is that you can expect to get the money much faster with no paperwork than what you would otherwise get from other financial institutions. You can apply for a guaranteed payday loan online sitting at home or at work as long as you have access to a computer.
Credit score, does payday loan affect instant easy cash loans fico score. Generally, payday loan history is not captured in credit reports. However, some credit reporting agencies may collect your payday loan repayment history. And its most likely some lenders may want to get such reports when evaluating your creditworthiness for future loans. Also, if you have an outstanding payday loan and it is sold to a debt collector by your lender; your debt collector may possibly report your debt to a major credit bureau.
This may negatively impact your credit score. What is the maximum amount that I can borrow.
If you went to a payday lender, youd have to pay the full 500 back in two weeks plus 75 interest. If it took you six months to pay the money back, youd have to renew the loan 13 times, paying 975 in interest. As noted above, this works out to an APR of instant easy cash loans. Now suppose you went to the bank instead and got a 500 loan for six months at 10 APR.
Your payment would be about 86 each month. In six months, youd pay less than 15 in interest less than youd pay in two weeks with a payday loan. One problem is that most banks arent willing to make loans this small.