How to Get Short Term Loans without Credit Checks

There is nothing more disappointing than a bad financial situation getting worse when your loan is turned down. Everybody has needs that are important to be fulfilled and nobody wants to get into trouble when it comes to finances. People with poor credit history deserve to live a normal life just like those who have been fortunate enough to have a good credit rating. Banks and credit unions usually turn down requests for the loan because there is no way of being assured that the loan will be p aid back by the applicant. A bad credit score indicates that they have been defaulting in the past and the same might happen again. These organisations are in need of a documented proof that will ensure a safe and timely return of the amount lent.

The same goes for direct lenders. They also need some kind of assurance by people with a bad credit score.

The answer to all these problems lies in getting short term loans without credit checks. These are also known as same day loans, which get processed in a matter of minutes. The applicant receives money in their bank account the same day and can use it for any pressing need. There might be different lenders involved in the process but the procedure is totally transparent as it takes place through a third party or a website like CreditPoor. When everything else fails to work, you may use this opportunity to get your hands on some extra cash to pay off bills and get out of a troubled situation.

The process is as simple as filling out an online form that requires absolutely no paperwork and getting approved almost instantly once you press the submit button. There are requirements, however, for getting these kinds of loans but they are usually not very strict. The fees are totally reasonable and there are no hidden charges. These loans have to be paid back to the lenders within a few weeks and that is what makes them more attractive than other long-term loans. There is no accumulated interest on these loans, which could become difficult to handle with the passage of time. Since you pay back usually within a month, there is no strain of arranging for extra finances.

from the applicants in the form of their employment history, credit history, contact number, etc. However, to get approved for this type of a loan, you need to be at least 18 years of age with a decent monthly salary to prove that you will be able to pay back the loan. The money is usually provided by a direct lender instead of a bank or credit union and therefore those lenders need to be assured that they will get their money back.

The only thing that a borrower needs to check when applying for this type of a loan is the interest rate. There are many companies providing instant loans that get transferred to your checking or saving account within minutes. You need to find the best lender offering competitive interest rates so that you don’t end up paying more than required. Remember, these are short term loans that mean you will have to arrange for finances within a few weeks from the time of approval. So, make sure you do your homework and find the best company that not only get your loan request approved but also offer many other benefits. All this is required to steer clear of any more financial troubles than you might already be facing.

The important thing is not to overpay when you apply for short term loans. You might be happy today to receive the cash instantly but later on, when you will need to return it, you won’t like to be thrown into a worse situation. S ince your credit score is not being checked, you will be paying a certain fee for this kind of service. But other than that there should be absolutely no hidden charges. Moreover, the interest rate should not be higher than average. The duration for these short term loans is usually two weeks to a month, which is why they are often termed as payday loans. Once you receive your payday, you are able to pay back the lender.

Another thing you should be checking out is a free application process. Although only a few applications are turned down by private lending companies, you need to make sure that you don’t pay any extra fee for getting approved. In case the company turns you down for any reason at all, they should not be charging any fee upfront. You will be required to give your bank details for the money to be transferred. This is another requirement that needs to be fulfilled. Make sure your account title matches with the name you provide when applying for the loan. Also, check out the testimonials posted on the website to be assured that you’re dealing with a reliable and trustworthy company offering short term loans without credit checking.

Life may change due to an unpredictable event, such as an accident or an illness, without prior notice. This sudden change is sometimes not only emotionally upsetting but also brings financial instability and worries. The situation turns bad to worse when you apply for a loan and it gets turned down due to poor credit history. However, getting short term loans without credit checks has now been made possible by companies like CreditPoor that bridge the gap between private lenders and borrowers who are in need of instant cash. T hey provide assurance to the lenders that their money would be returned within a specified time period, which is usually only a few weeks. Don’t let your emergency financial needs make you gloomier and more stressed out; apply for such a short term loan today and pay off all your bills with convenience!

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What is the Starting Credit Score?

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Starting Credit Score

Having a credit score can have many benefits.  Wait, having a good or great credit score can have many benefits.  As we go through life, credit becomes an essential tool for an individual to progress through society.  You can use credit to purchase everyday items, a car or a house.  Without credit, some of the essential purchases we rely on to carry us through our lives every day would be unavailable, such as a car for transportation to and from work.  Having a credit score and a good one at that can allow you to get the best deal on large purchases and also helps create a financially responsible person.  But just how does one get a starting credit score, and where do you begin?  I will lay out some of the easiest way to start down the path of a good credit score.

Step 1 to getting a starting credit score:

The first thing you need to do to get a starting credit score is simply to get credit.  The easiest way to do this that I recommend is by opening up a $0 annual fee credit card.  Your monthly limit won’t be all that much, most likely less than $1000.  Commit to making a couple easy purchases on it every month and paying it off at its due date.  For example, a couple tanks of gas or a visit to the grocery store is all it takes to start building your credit.  It is vital to pay off the full amount after a month’s time before the card’s due date

Step 2 to getting a starting credit score:

The second step to building a starting credit score is to continue purchases with your credit card and meet the monthly payment date, along with exploring an additional option of building your score.  If you rent an apartment, sometimes the apartment complex allows you to report your on-time payments to credit agencies.  Additionally, if you have student loans you are paying back, this also will show up on one’s credit report.  Time is a big factor in your credit score.  It usually takes at least six months for you to build your first credit score.  Image result for credit score rangeIf you make on-time payments in full, you can expect a score anywhere in the range of 675 to 740.

Step 3 to getting a starting credit score:

By step 3, you should already have shown a positive pattern to creditors through making payments on a timely manner.  The most important part of this step is just to be patient.  Building a good or great credit score takes time.  Two of the bigger factors that impact your credit score are the length of time you have had credit and the number of accounts you have that required credit.  Chances are as you start building your credit both of these factors won’t be too much in your favor.

In summary, there are many benefits to building a good credit score, but it all boils down to a few simple factors.  Firstly, you need to begin building credit through a $0 annual fee credit card, student loan repayment, etc.  Secondly, you MUST make your full payments and make them ON TIME.  Finally, you need to be patient.  It takes time to build a great credit score, but if you budget correctly and make sure not to spend above your income level then a great score will eventually come.

Confessions of A Former Credit Addict

Confessions of A Former Credit Addict
I need to make a confession. My financial life is in ruins. I am badly in need of credit repair. Throughout the past few months, I have searched for ways to atone for my past money mistakes. Methods that will wipe away old debts and missed payments like squeegee water from a windshield car, idling at a stoplight in Manhattan.




My past misdeeds include filling up my first credit card with hundreds of dollars in bar tabs during freshman year of college. Walking through the quad one day, I came upon a folding table loaded with free t-shirts bearing the logo of a mid-Atlantic bank. I had to have one of those shirts. So I signed up for a credit card with a limit of $800, despite being a full-time student with no income. And promptly spent most of it at local pizza places and a T.G.I. Friday’s where my fraternity brothers bartended.

All that semi-astute financial decision making left me as unprepared fawn in the wilds of the real world during my 20s. I spent freely, saved little and cared less. Debts were left to collection agencies and leases were handled by my parents and girlfriends.

So I have made it a mission to find and call out the best credit repair companies throughout the land. Today I own a house and 2 cars, living a good school district. All thanks to taking advantage of the great credit repair services from places like Sky Blue Credit Repair.

Credit repair is a necessary service these days. The country is under duress, with household after household struggling under the weight of overleveraged houses and unsustainable credit card debt. That is a recipe for financial disaster.

With all that credit card debt, individuals and families end up victims of horrible, terrible, no-good credit. That means that, more than ever, credit repair is needed by many people. SkyBlue Credit Repair is particularly skilled at helping consumers decide what to dispute and when to do it. It has a very accelerated dispute process because it takes 15 items at once (5 from each of the 3 credit bureaus) and disputes them all at the same time. For those clients with numerous negative items, Sky Blue could be the answer to faster score improvements.

Sky Blue even goes as far as to offer a 90-day, risk-free guarantee, meaning that if you are not satisfied for any reason during that time period, just tell them why and you can get your money back. Their pricing is reasonable: $59 to set up and $59 a month after that.

For more information and reviews about skybluecreditrepair.com, you can feel free to visit their website.

Budgeting With Credit Card Debt

I recently spoke with an individual who was excited to begin his budget.  He downloaded the spreadsheet available on my site and asked me to look over it.  Everything looked good except for one thing I noted.  This individual had a category as follows:

Credit Card Payment (minimum)

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This shocked me for a number of reasons.  First and foremost, the minimum part that was included.  Secondly, paying off your credit cards is not an expense.  For example, if you go to the grocery store and spend $50.00 on groceries but apply the charge to your credit card, then your budget should reflect a $50.00 purchase on groceries.  The credit card is simply a means to pay for it.  Finally, I recognized that this individual had credit card debt, and he assumed paying off in minimum installments would eliminate it.  Yes, theoretically, as long as no further debt was incurred, but it would take a while.

This ultimately led me to the following conclusion.  This individual had a significant amount of money remaining in their budget every month.  I advised him that if I was in his situation I would do the following:

  1. Make sure I am able to cover all of my necessary expenses in the budget.  This would include rent, gas, food, student loans, etc.
  2. See where some expenses can be cut.  Bringing his lunch to work versus going out to eat might be the smartest financial decision until he gets his credit card debt under control.
  3. Use any extra money at the end of the month to pay off the remaining balance on the credit card.  Credit cards are notorious for having extremely high interest rates.  The quicker you tackle this type of debt, the more you save.
  4. Set a goal for paying off the credit card debt.  We agreed by the end of the calendar year.  Once the debt is paid off we could redo the budget and include categories for savings, retirement, and other financial goals.

Credit card debt can be a nasty thing, but a budgeting approach to handling it can make your financial life much better.  Use a budget to pay off your debt if you have any, then you will be able to create additional space to begin planning for your financial future more aggressively.

 

Budget Smart, Invest Wise

A Spooky Statistic

As we inch ever closer to another Halloween evening there is a spooky statistic that I recently read about.  Business Insider recently published an article that today’s college graduate can expect to retire at age 75.  Yes, age 75, which was coincidentally the average life span of an American just 24 years ago.

Why age 75?

High student debt, rising rents, and social security viability are just a few of the reasons.

The average student loan debt sits just above $35,000.  As someone who graduated a mere 3.5 years ago who had just over $30,000, I can attest that a large portion of one’s income goes to paying down that debt.  And when you use the majority of your income to pay down debt what does that do?  Prevents one from saving for retirement.  Prevents one from saving to buy a house, thus subjecting oneself to the ever-increasing rents throughout the country.

By the time today’s graduating seniors look to retire, life expectancy could very easily be well into the 90’s.  Fifteen or so years of retirement might seem like a plausible plan for many.  There are ways to ensure that you don’t have to wait until 75 for retirement though.  It starts with budgeting, followed by saving and paying down debt.  Finally, it is followed up with living within your means and not succumbing to societal pressures to purchase all of the nice things.

Don’t be a part of the spooky statistic.

Budget Smart, Invest Wise

Video Series: Eye Opening World of Personal Finance

Today’s video is one that is almost two years old; however, the facts provided and insights suggested are timeless.  I honestly believe that the majority of people who follow my blog are in a better financial position than 90% of people throughout the world.  It is mind boggling to see how some do struggle.  We get caught up in a spend spend spend trend that we forget how important it is to save save save.  Maybe you know someone who isn’t in as good of a financial position as yourself.  Help teach them responsible personal finance and don’t let him or her become another statistic.

Budget Smart, Invest Wise

Establishing Good Credit

Growing up I was told by my parents, “With good credit you can afford anything”.  That was then, and this is now.  We all saw what happened with the housing bubble and what will soon probably happen with student loans.  Credit is important, but not meant to purchase things above your means.

Having good credit is important; however, using that credit isn’t always wise.  I saw an info commercial the other day for a product that cost $250.  They were offering people 12 months interest free financing.  If you have to finance $250 for a 12-month period then you already have money issues and shouldn’t be buying it in the first place.

A friend of mine had an old Ford Expedition with a couple hundred thousand miles on it.  He bought it for around two grand, drove it for 12 months, and then it broke down.  Either he didn’t have another two grand lying around to purchase another piece of junk, or he wanted something a little more reliable.  Either way he decided to purchase a used one for around ten grand this time.  He didn’t have enough money to purchase the car, so he needed financing for the purchase.  Problem was, he had no credit.  He was offered an interest rate of 13% for a car loan that was over 36 months.  An absolute ridiculous rate.  He ended up getting his mother to cosign on the loan and got it for 1.9%, very good and reasonable.

Moral of the story… You never know when you need credit.  It is important to have it established for that rare chance that you do need it.  Young people are notorious for abusing credit cards.  They spend and spend, and I can only assume they are disillusioned that they never have to pay.

Those individuals who have a good mind set around money should consider establishing credit in one way or another.  Establishing credit by signing up for a credit card is fairly easy.  Proceed with caution.  I would only recommend that someone get a credit card if he or she has income (don’t be a college student without a part-time job at the very least).  If you don’t have any credit then start with a well-known card such as through Capital One or Chase.  Charge a tank of gas on the card every month.  Circle the date when the amount will be due every month and pay off the balance.

Showing responsibility early on when it comes to credit cards will not only keep you away from high-interest debt, but it will also allow you to avoid a 13% or higher auto loan if and when you might need it.

Budget Smart, Invest Wise