If you do not believe you can get a cash advance loan for people with bad credit at a 99% guaranteed approval rate, do this. Go online. Fire up the computer and invoke your favorite browser (Bing, Google, etc.) and punch it with: cash advance loans. Before you even finish typing the word -- loan -- you will be rewarded with scores of lenders willing to offer you a cash advance loan.
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Pick and Choose â€“ Go Shopping â€“ Bring Your Stuff
You will be able to pick and choose among them to find the best interest rates and repayment terms that suit you. These loans can range from $100 to $1500 depending on your income and ability to repay. Before you go shopping, you will want these credentials that most every lender will require:
A. Bona fide picture I.D. â€“ Driving license, military I.D., passport, etc.
B. Proof of a bank account â€“ Bank statement or other bank papers.
C. Proof of residency â€“ Utility bill with same address as your I.D.
D. Proof of employment â€“ Pay stubs or bank statement.
Warnings and Tips
Also, before you go wild making applications on the internet, there are a few things you will want to keep in mind as you shop. Here are some warnings and tips to keep you on the level.
Tip â€“ Interest Rates
The average cash advance loan costs about $15 for every $100 you borrow. This will vary from lender to lender. Also, the industry is regulated by states so this will cause variances as well. You have heard it before, you will hear it again, for good reason, read the fine print. Ask questions.
Warning â€“ Unscrupulous Pretenders
Every online industry suffers from unscrupulous pretenders. You may get an online lender who will seem very safe with a terrific website, even a duplicate of a lender you may have dealt with in the past. They can collect all your personal financial information, maybe even wangle a fee or two out of you, and then disappear. Check each lender in Better Business Bureau records and beware of duplicate sites. It even pays to mind your gut feelings.
Tip â€“ Fast and Easy
Traditional loans with their approval process can take days, weeks even. Bad credit cash advance loans are much, much faster. The application process can take less than an hour. You can have the money deposited in your bank within 24-48 hours, sometimes sooner. Cash availability may depend on the policies of your bank.
Warning â€“ Getting In Over Your Head
Never take out a bad credit cash advance loan to pay off another. If you find yourself doing this you are digging a very deep hole that will be very hard to crawl out of. Many states have networks set up to prevent this. Rather than take out a loan to cover another, you need to go to the original lender and work something out. They will work with you.
Tip â€“ Cash Advance Reality
Bad credit cash advance loans are a way to get cash to relieve a short-term cash flow problem. They should not become an item on your monthly budget. These loans can be a boon in a time of need and they can even help repair your credit if you pay them off in the contract as stipulated.