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Month: February 2017

Where to Get an Easy Cash Loan: Receive Guaranteed Approval for a Short Term Loan

A no credit check easy cash loan is regularly sought to help with a financial emergency. The absence of credit scoring means that this type of short term loan is suitable for those with a very poor credit history. The lending criteria for an easy cash advance is vastly different to a traditional bank loan. Rather than assessing the borrower’s repayment history, the lender checks to ensure that the customer can afford to clear the debt and/or recover their money in the event of default.

Where to Apply for an Easy Cash Loan

Borrowing money with bad credit can be very difficult, but payday lenders, pawn shops and credit unions specialise in helping those who the banks are no longer prepared to assist. The lending criteria do vary considerably. Those who aren’t eligible for a payday advance loan may find that they are able to get approval for a pawnbroker loan.

A Bad Credit Loan from a Pawnbroker

Whilst payday lenders offer unsecured loans, pawnbrokers lend money more liberally due to the provision of collateral. Provided that the borrower is able to provide an item of value (gold, silver or jewelry), he/she will be eligible for a pawn shop loan. The items value will be assessed and an easy cash loan will be provided on the basis of this valuation. If a borrower doesn’t redeem the item (by clearing the short term loan and any interest that has accrued), the item will eventually be sold.

No Credit Check Payday Advance Loans

It may be possible to get an unsecured cash loan from a payday lender. It typically costs $20 to $25 to borrow $100 for a calendar month. The borrower must be a U.S. citizen, 18-years of age and in full-time employment. They will also need a valid checking account and be able to provide at least 2 forms of identification (one of which must be photo ID). Provided that the application is received prior to 2.30 PM, a payday advance loan will reach the borrower’s bank account on the same working day.

Short Term Loan from a Credit Union

In order to get an easy cash loan from a credit union, it is necessary to be a member. People are able to join on a number of different grounds, such as locality, vocation and religion. Although working purely for the interests of their members, the cost of a credit union loan is about the same as a payday advance loan. However, in the event of financial difficulties, a credit union is far more likely to show sympathy than a payday lender. The only obstacle borrowers face is the time period it takes to become a member.

The Ups and Downs of Credit Cards

Credit Cards– some people might think of this as a dirty word; others might think of it as their saving grace. No matter what your stance on credit cards may be there are many pros and cons to owning and using one.

When I was 18, I got my first credit card offer in the mail. As a person who is very bad at saving money, I quickly responded “YES! SIGN ME UP!” and was soon sent a nice pink plastic card that, in my young eyes, was the key to open so many doors for things I never was able to afford. I was soon purchasing an Mp3 player, shoes, purses, you name it, but I was soon rudely awakened by my credit card bill. The minimum payment was only $10, so I thought, my minimum wage job would be fine to cover it! In no time I had maxed out my card, and decided to sign up for another so that I could buy groceries while my paycheck went to paying down my first credit card. I tell you this because this is the slippery slope which many Americans have slipped. Credit can seem like an easy end, a great short term solution, but with credit, unless you plan to pay the balance off immediatly, the credit card companies will always win.

Store credit cards are one area where many people get easily trapped. Many stores will offer a discount to those holding a credit line with them, for example they might have a 30% discount for thier card holders– the trick is that you are already paying a 20-30% interest rate, so the discount is actually just giving you store price! What you once saw as a great deal you will now be paying for over a longer period ot time. One major downfall of credit cards in general, not just store cards, is that the interest will end up being the bulk of the balance if you let it get out of hand, and that $12 pizza or that $38 handbag that you just had to have, now costs $50 or higher, and you are paying for it long after the item itself is gone. I know I personally am still paying for groceries that I bought as a freshman in college!

Credit Cards, when used responsibly, can be a good thing, however. Building your credit, especially as a young person, can be very important if you ever want to get a car loan or a mortgage–having a credit card with a small balance that you pay on time every month can help to build good credit.

Credit can also be very helpful when you need some money in case of an emergency, like having a credit card that you keep just for auto emergencies or medical expenses.This can be extremely important when your car needs a new transmission and you have already emptied your savings account trying to pay for just the labor costs alone and its not even finished. Many people also keep an emergency credit card in case they became stranded while on a trip and unable to get home on time, this will help ease the stress of paying a few extra nights for a hotel.

Credit Cards can also make shopping a breeze, which is great especially if you are someone who does not have a lot of time to wait around in line at a store; and when you do have to go to the store the card is so easy to use, no more digging in your pockets for change or emptying your purse to find that extra dollar that you just know you have somewhere.

Another major benefit of a credit card is security. If you lose your cash, or if it is stolen, there is no way to claim what was taken, however if you use a credit card that becomes lost or stolen, you can report it to the company that issued it and many times the company will refund the amount that the theif used and refund any fees incurred by the theft.

Overall Credit does not have to be a scary thing, When used responsibly it can help to open a few doors, but when abused it can cause many more doors to close. With hope, credit card can one day cease to be a dirty word.

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