Should You Think Twice before Getting a Payday Line of Credit?

Doing anything with money is important and can have big repercussions. You should always carefully think through the money decisions you make, but some of these are easier to make than others. For example, using a payday line of credit is one smart choice that doesn’t require a lot of careful consideration. Once you find out exactly what this financial product is, you will realize that you don’t need to think twice; it’s a great financial move you can make today.

Here’s Exactly What a Payday Line of Credit Is

A line of credit is a type of loan you can get that allows you to get approved for a certain amount. Instead of taking the entire amount all at once and being responsible for paying it all back later, you only take and use as much as you need, when you need it. And because this is a payday line of credit, the approval process is based largely on your income and job history instead of your credit score. So, in other words, a payday line of credit is a more flexible version of a payday loan, one that allows you to draw on an amount only as you need it.

Here Are All the Reasons Why a Payday Line of Credit is a Smart Choice for You

There are so many reasons why you don’t need to think twice before getting a payday line of credit. It’s a smart choice for just about anyone, but there are particular reasons why it may be the best choice for you:

• You don’t have to have a perfect credit score to get approved for a payday line of credit loan. You only need to show you have a regular income and good job history along with a few other basic requirements.
• With a payday line of credit you don’t have to be responsible for borrowing and repaying an amount that is larger than you need or can afford. Get approved for a large amount, but only use the amount you actually need.
• A payday line of credit allows you to access cash instantly. Because you have a line of credit to draw from, you don’t need to apply for a new loan every time you need cash. Just pull from the line of credit and within minutes you’ll have the cash you need.
• Payday line of credit loans are affordable. These loans are designed for people who aren’t wealthy and who don’t make a huge income at their jobs. You can actually afford these loans.

How to Get a Payday Line of Credit Today

All you need to do to get your payday line of credit today is go online to apply or use a mobile app to get connected to our network of lenders. Once you submit an application, we’ll make sure a lender answers you in minutes and gets you approved for the line of credit that is going to make your life that much easier.

Should You Think Twice before Getting a Payday Line of Credit? By Eric Knapp - 9/20/17

What Makes a Payday Loan Line of Credit Different from a Credit Card?

Most people use credit cards. They have a place and can be useful for making quick purchases, but there are some serious drawbacks too. An alternative to credit cards is the payday loan line of credit, but to understand why this may be a better choice for you, it’s important to know more about this kind of loan and how it measures up to credit cards.

A Payday Loan Line of Credit is a Flexible Loan

One of the best things about a payday loan line of credit that makes it better than a credit card is that it is a real loan, but it’s one that gives you flexible options. With another kind of loan you have to choose the exact amount of money you want to borrow and take it all at once. With this loan, you get approved for a certain amount, but then you only have to use as much as you need. It gives you flexibility and helps prevent you from getting into debt you can’t afford, something that can happen all too easily with a credit card.

Credit Cards Keep You in Debt, a Payday Loan Line of Credit Won’t

Unlike a credit card, which allows you to spend to your limit and then avoid repaying it for months or even years, a payday loan line of credit is actually a loan. You have to repay it on time. This may seem like a drawback, but it isn’t. Credit card companies want you to pay only the minimum every month. It’s how they make money, but it’s also how you stay in debt indefinitely. You shouldn’t have to carry that burden just to be able to access cash when you need it. With a payday loan line of credit, you get that access without the long-term debt.

See the Cash You Spend—and Save—with a Payday Loan Line of Credit

One way that credit cards get people in trouble is that they are too easy. To spend, all you need to do is pull a card out of your wallet. You don’t see the cash, and studies have proven that when you don’t actually see the cash you’re spending, you will spend more. With a payday loan line of credit, spending is a little more difficult. You have to access the cash through your bank account, but this gives you the opportunity to take cash from your account, see it, and spend it more frugally than you would with a credit card. Overall, you’ll save money.

Get Approved for a Payday Loan Line of Credit, Even with a Low Credit Score

You may get denied for a credit card if your credit history isn’t up to scratch, but with a payday loan line of credit you can get approved even if you have a lower credit score. This is a promise our lenders make because they believe that everyone should have the opportunity to benefit from these great loans and shouldn’t be forced to use credit cards as an only option.

What Makes a Payday Loan Line of Credit Different from a Credit Card? By Heather Wilson - 8/30/17

How to Stay Safe Online While Still Using a Payday Line of Credit

A payday line of credit is a type of loan that you can get online, which makes it really convenient, easy to use, and most importantly, quick. On the other hand, getting money online means taking a security risk. We all take risks these days for the sake of convenience, making purchases online, sharing information on social media sites, and downloading apps. So how do you get the convenience and the cash, and still stay safe?

Use a Payday Line of Credit with a Reputable Network of Lenders

A payday line of credit is a source of credit that you can get online, get approved for based on your job history instead of your credit score, and that gets you cash as needed. You get approved then draw on the amount at any time. One of the most important things you can do to ensure your personal information remains secure while using one of these loans is to check out the lenders. Before using an online service, be sure there is a real company behind it, with contact information that includes a telephone number and a real address. Find out how the company selects lenders and what the criteria are. This kind of information will tell you if you are working with professional lenders or not.

Make Sure Your Payday Line of Credit Service Doesn’t Sell Information

Another way to make sure you stay safe while taking advantage of the convenience of an online payday line of credit is to find out the service’s policies. Ask questions about what they will do with your information. The answer you want to hear is that your personal information, the information used to get you approved, is only given to the lender that will be helping you get the loan. A lending service should never sell information to third parties. Also find out if the service will delete your information once your approval has gone through and you have an official loan document. This is also important for security.

Find out about Encryption before Applying for an Online Payday Line of Credit

Finally, one of the most important ways that you will remain secure online, even when providing details for a payday line of credit application, is to have excellent encryption protecting your sensitive data. Ask about encryption software and hacker deterrents, or read the website carefully to find out how your information will be protected. This is so important, and while most websites today have this technology, you should never assume it is there. Encryption is one sign of a reputable lending company and a sign that you can trust a service to protect your data while providing you with a loan.

If you take these steps before working with an online lending service, you can enjoy all the benefits of an online payday line of credit while still remaining safe and secure against identity theft.

How to Stay Safe Online While Still Using a Payday Line of Credit By Mindy Lobo - 8/23/17

Personal Online Line Of Credit

Our personal line of credit allows you to borrow and repay funds in a way that is far more adaptable than a traditional payday or installment loan. Apply using our online line of credit application that can be completed in no time. Banks have only recently begun to market these products to any noteworthy extent. This may be a consequence of an economy that has lowered loan demand and new regulations that have restricted sources of income. If you want a cleverer loan option, consider the lesser-used online line of credit, which has some great benefits for borrowers. Online lines of credit tend to be lower-risk revenue sources relative to credit card loans. Unsecured online lines of credit - that is lines of credit not tied to the equity in your home or some other valuable property – are certainly cheaper than loans from pawnshops or payday lenders, and usually cheaper than credit cards.

Get Flexibility With An Online Line of Credit

A line of credit is essentially an amendable loan from a bank or financial institution to a business or individual. Just like how a credit card offers you a limited amount of funds that you can use if, when, and how you wish, a line of credit is a regulated and specified amount of money that a borrower can access as needed and then repay immediately or over a period of time. Largely, lines of credit are not intended to be used to fund single one-time purchases -though lines of credit can be used to acquire items for which a bank might not normally underwrite a loan. Frequently, an online line of credit is intended for the same basic purpose as business lines of credit – to supplement income and help with expenses, and/or to fund projects where it may be difficult to determine the amount of finances needed upfront. You will receive a monthly statement showing your balance, your minimum payment due, and summary of interest and fees. As long as you draw down the funds, you’ll be required to repay the money each month, as agreed upon with your lender.

When An Online Line Of Credit Is Useful

A line of credit speaks to the fact that banks are not terribly interested in underwriting one-time personal loans, particularly unsecured loans, for most borrowers. Similarly, it is not economical for a customer to take out a loan every few months, repay it, and then continue the cycle. Online lines of credit resolve both of these concerns by making a specified amount of money available if and when the borrower needs it. An online line of credit may be useful in situations where there will be repeated cash expenditures but the amounts may not be known forthright and/or the retailers may not accept credit cards, or in situations that require large cash deposits. Equally, online lines of credit occurred and were often popular during the housing explosion to fund home improvement or renovation projects – people would regularly get a mortgage to buy a residence and simultaneously obtain a line of credit to help finance renovations or remodeling where needed.

Personal Online Line Of CreditBy Eric Knapp - 6/21/17