People with bad credit can also have emergencies, and a bad credit guaranteed payday loan can help them get the money they need when they can't get credit anywhere else because of their bad credit history. Whether it's your mother who's been admitted to the hospital for an immediate operation of the appendix, or your daughter who's been selected for the school play at the very last minute and now needs a new costume within the week! All of these unexpected needs can be taken care of with a cash advance that doesn't require faxing.
What is a guaranteed approval payday advance?
As the name suggests, it is a small loan that you can get no matter what your credit history is like. You can easily get a bad credit fax less cash loan as long as you meet the basic requirements. These include being an American citizen over 18 years old, being employed for the last 90 days with a monthly income of at least $1000, and having a current bank account.
Most traditional lenders would ask you to put up a house, car, or other property you own as security for the money you wanted to borrow, but a personal unsecured cash advance would never ask you for any security. Your paycheck is your protection against this kind of loan.
How much these instant cash loans cost
Most of the time, the interest on a loan against paycheck is between $15 and $30 per $100 borrowed for a two-week period. The industry's high level of competition can also help you find an interest rate of $10. But if you get a guaranteed bad credit payday loan with a very low interest rate, you should always ask if there will be any other fees that go by different names. And if you're really lucky, you might even find a company that gives its first loan to new customers without charging them any interest!
Financial Management
These guaranteed approval payday loan advances are good to use when you need money in a real emergency and can't get it from anywhere else. However, the high interest rates charged on them every two weeks make it impossible to use them for a longer period of time. Because of this, it is always best to pay off the debt right on time and not ask for an extension.
More importantly, you will never need a bad credit guaranteed payday loan if you save a few hundred dollars every month.
