Showing posts with label online line of credit loans. Show all posts
Showing posts with label online line of credit loans. Show all posts

Monday, August 7, 2017

3 Situations When Online Line of Credit Loans Come in Handy

3 Situations When Online Line of Credit Loans Come in Handy


Online line of credit loans are nearly always handy, but there are some situations in which they are particularly helpful. First, let us explain what these loans are, and then we’ll share with you what some of our past borrowers have told us are the best ways to take advantage of them.

What Are Online Line of Credit Loans


Our online line of credit loans are loans that are based on our standard payday loan. The latter is a loan that is small, short-term, and largely based on your income. So, getting approved means showing you have a regular paycheck, not showing you have a perfect credit score. These loans are also available online, which means you apply online, get approved in minutes, and get access to your cash through a virtual transfer within about 24 hours. With online line of credit loans, you get approved for a certain amount, but then only draw on it as needed. Now that you know more, here are some situations in which you might want one of these loans.

1. Online Line of Credit Loans Are Great if You Need to Borrow Small Amounts Regularly


If you are a paycheck-to-paycheck kind of person, you may find that you are often in need of some extra cash. It may also be that when you do need cash to get through the rest of the week, you only need a couple hundred dollars here and there, not big amounts. This is the perfect situation for online line of credit loans. Instead of applying for a new loan every single time you need cash, apply just once and draw on the line of credit whenever you need $50, $100, or more. This will make your life so much easier and getting cash a lot more convenient.

2. Use Online Line of Credit Loans When Your Credit Score Isn’t Where You Want it


With our online line of credit loans, you don’t have to jump through hoops to get approved. These are great loans for anyone who is in a pickle with their credit score. If you’re working on getting your score up, but it is still kind of low, this is the loan for you. Our lenders don’t care about your traditional credit score. What they care about is that you have a job, a regular paycheck, and a good job history. These are the factors that will get you approved.

3. Online Line of Credit Loans Are There for You When Time is of the Essence


One of the great things about online line of credit loans is that you only have to apply for them once. When you get approved, you then have a source of cash that you can reach for at any time. In a situation in which you need cash fast, like within minutes, you can get it if you have already applied for this line of credit loan. You won’t have to go through the process again, and wait until the next day for money. This is perfect for emergency situations and any other case in which you need cash fast.

Monday, November 28, 2016

Answers To Your Questions About Online Line of Credit Loans

Answers To Your Questions About Online Line of Credit Loans


What exactly is an online line of credit loan?


Traditional loans are a simple three- part process: application, loan, repayment. The consumer decides they need some extra cash and applies for a loan – that’s step one. Step two is when the lender evaluates the person’s qualifications and decides to make a positive determination and issues a check or deposit for the funds. The recipient then repays the loan amount plus interest, and the transaction is complete. With an online line of credit loan, step one is the same but steps two and three are a little different. Instead of delivering the whole loan amount to the borrower, the lender makes a maximum amount available, from which they can withdraw all or part at any given time. Regular payments are made whenever there is any outstanding balance, and principle repaid goes back into the pool of available funding from which they can borrow. In this way it’s similar to a credit card – you use part of the available funds, make payments, and have the remaining amount as an “available balance” at any given time.

Can I get an online line of credit loan if I don’t have a great credit score?


You absolutely can. Unlike credit cards, mortgages, and most personal loans, the lenders who offer online line of credit loans do not depend on your credit score in order to determine approval. They realize that many of us have had a difficult financial period in our past, or made a youthful miscalculation that resulted in our damaging our credit score – and that credit repair is a difficult and most of all show-moving process. Since the seven-year clock resets every time any action is recorded on an account, it can take a virtually unlimited amount of time for the negative information to age off and disappear. Instead of counting on the “big three” credit bureaus to let them know whether or not a potential customer is a good risk or not, this group of lenders devised their own proprietary set of criteria which depend on current circumstances such as employment, income, and others, rather than on your credit score. This opens these loans up to a much wider pool of individuals – almost everyone has a great chance!

What kind of things can I use an online line of credit loan for?


Use these funds for anything you want or need! Perhaps the annual car insurance bill just came in and you’d forgotten it was due, and didn’t budget for it. You might need plane tickets for a holiday trip home, or a little extra cash for a school trip for your child. Or possibly you work one or more hourly jobs and for seasonal or other reasons you haven’t been getting as many hours as usual – that can throw a wrench into anyone’s budget, but an online line of credit means that whether you need a little cash to get by or a lot to cover a repair or an emergency, it will be there – preapproved – ready and waiting when you need it!