Guide to Guaranteed Payday Loans
Let’s start by saying there really are no ‘guaranteed payday loans’. Payday loans are mostly for those with poor credit history who are in a cash crunch due to some unexpected expense e.g., auto repair, medical bill, etc. Approval is based on a wide range of factors.
Then, Do Bad Credit Loans with Guaranteed Approval Really Exist?
Bad credit loans with guaranteed approval and no credit check do exist if you delete the word ‘guaranteed.’ The basic requirements for all payday loans are fairly consistent across all states, although there may be some differences state to state.
Key requirements include:
- Must be 18 years of age or older
- Must be a U.S. citizen and not active military
- Must have a steady job of at least 3 months duration or longer
- Must have a current checking account
- Should have a stable housing record (rent or own)
The primary benefits of online payday loans are the ease of applying and the speed of getting approved (just minutes). The amount of online payday loans varies by state but, in general, loans range from $100 to $1,000. There are states that do not allow online payday loans so check your state website to learn more.
Do guaranteed payday loans really exist?
The answer is ‘yes’ and ‘no’. Payday loans exist, and far more than half of those requesting ones are approved. That said, there is no guarantee of approval if you request a payday loan. There are too many variables to provide such a guarantee. For example, if you are not a US citizen or live in a state that does not allow payday loans, you could never be guaranteed a payday loan in any circumstance. You could even have great credit and not get such a loan.
How does a guaranteed payday loan work?
The process is simple. Complete a loan request form and submit it. It takes anywhere from 1-3 minutes for most people and can be done from your smartphone or PC/laptop. If approved, you will usually be contacted directly by your lender in 1-2 minutes after submission. It is safe, fast, and secure.
Are there any guaranteed loans for bad credit?
Yes, with the same disclaimer noted before. Bad credit does not stop you from getting a $500 payday loan guaranteed. But the word ‘guarantee’ really does not apply. Payday lenders know that most applicants have bad credit. As a result, they are more concerned with your ability to repay the loan than your credit score. Having steady employment, an active checking account, and a permanent place to live are more important factors in getting an online payday loan.
What can guarantee the approval of my payday loan application?
Nothing can guarantee your approval. Every lender views your criteria and weighs the overall strength of your current status before offering a loan. Every person’s situation is unique, so there is no guarantee you will be approved. However, more than 80% of applicants can be approved via referral sites like CashOne.com because they have over 100 lenders actively seeking consumers to lend to.
Related Article: How Lender Connection Services Help You Get Guaranteed Payday Loans
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