Showing posts with label advance cash. Show all posts
Showing posts with label advance cash. Show all posts

Monday, March 28, 2016

5 Secrets To Getting Approved for Cash Loans!

5 Secrets To Getting Approved for Cash Loans!

Learn the common mistakes people make when applying for short term cash loans – and increase your chances of getting approved right out of the gate. 1. Be sure your current income is high enough to qualify. The minimum income for short term cash loans is $1000 per month. If your main job doesn’t bring in that much, be sure to include any other income you might have – perhaps a second job or a spouse’s income. Meeting the minimum required income is one of the first things that will be considered and too little income is an automatic disqualification, so be sure to include all your income! 2. Don’t apply for more than you can afford. It’s important to keep in mind that the standard arrangement for a short term cash loan is for it to be repaid out of the next paycheck. If you take home $1000 each paycheck and borrow $1000 (even discounting fees and interest) – you’ll have zero to live on. If you use the loan to pay for all the bills your next paycheck would have gone toward and don’t need any more than that, that’s great – but for most of us that’s not usually going to be the case. So keep your personal budget in mind when you consider how much money you can or should borrow. There is the option to extend the payment terms for an additional fee, so you can of course take that into account as well. 3. Complete all sections of the application completely. Leaving information off of your application can damage your chances of approval irreparably. In order to make the application short and speedy, it’s been pared down to the bare minimum, so any information omitted is likely to be an item that’s required in order for the lender to give you the “yes” on that cash loan. The various sections request your personal identification info like your address, driver’s license number, employer and income, payday dates – because that’s when payment are drafted from your bank account – and bank routing and account numbers. Leaving any of those out can cause your application to be rejected and put you back to square one.
4. Fill out all information accurately – especially numbers! This item is related to the previous one. Inaccurate information is effectively equal to missing data – if your pay date or bank account number is not accurate, the lender will not be able to process your funding or repayment, which prevents them from approving a loan. Some of the most common errors on loan applications of all kinds are leaving digits off of long numbers or unfamiliar numbers you don’t use often, and transposing numbers – switching their order. It’s a great idea to double check before you hit submit! 5. Make sure all IDs and bank account numbers are valid. Expired or inactive bank account or drivers license, for example, will disqualify your application even if your income, employment, and other factors all point to approval. Don't let that happen for your cash loan!