Online Lending vs. Credit Cards – Get the Real Truth

Getting extra cash is not that difficult these days. There are plenty of people and businesses that exist solely to get you to borrow money so that they can make money from you. As a consumer and borrower, you have to be knowledgeable about what your options are, how they stack up to one another, and what makes the most sense for you. One of the biggest battles is between online lending and credit cards. Here’s the final answer on which is better.

Convenience – Online Lending Ties with Credit Cards

Both of these financing options are convenient for borrowers, and that is important. With so many choices for getting extra cash, ease of use is a must have. With credit cards you simply apply, usually through the mail or online, wait to get your card, and then once you have it, just swipe away to spend. With online lending, you go online or use an app, apply, and get cash sent to your account by the next morning for the utmost convenience.

Good Debt – Online Lending Wins

One very important way in which online lending beats credit cards is the type of debt it gives you. There is such a thing as good debt and bad debt. Credit card debt is bad debt because it never goes away. Credit card companies aim to keep you in debt indefinitely to make more on interest charges. With online lending, you get a small loan that you repay in a week or two. You are left debt-free again, and paying it back on time actually helps your credit score.

Avoiding Overspending – Online Lending Wins Again

Another issue with credit cards is that when you spend with plastic, you tend to overspend. There is a psychological element to this that has been proven: when you can’t see the cash, you spend more. With online lending, you get actual cash that you can see and spend. You also have a finite amount of cash that you have borrowed, unlike with a credit card, so you can budget it and spend it as you intended, without going overboard.

Safety – Online Lending Takes the Cake

All those paper applications for credit cards that you get in the mail are a leading way that people open credit cards in another person’s name. It happens all the time, but not with online lending. There is no paper trail because everything is done online with the best encryption software for protection. Online lending is truly safe with a reputable lending service because there is no paper for someone to pick up and misuse, and your information stays with your lender only. No one else gets access to it.

The options for borrowing money are not likely to be limited any time soon. If anything you will be given more options in the future. Understand those options, how they will impact you and your finances, and then make a smart choice, like online lending.

Online Lending vs. Credit Cards – Get the Real Truth By Eric Knapp - 8/9/17

Should I Really Get a Loan Online When I Need Cash?

The question of how to solve a money problem is not always easy to answer. For times when you need some extra money, for whatever reason, you have a choice to make. You have options, such as trying your bank or credit union, talking to your boss for an advance, or even turning to a pawn shop. Another option you have is to get a loan online, but you may have some hesitations about it. So should you really rely on a loan online in times of money trouble? Here are some facts to help you make that choice.

A Loan Online is Safer than You Think

Some people never really consider a loan online as a financing option because they assume that it isn’t safe to share your personal information that way. The truth is that these loans are much safer than most people assume. With our loans you get to work with a network of only the best and most reputable lenders; you get the benefit of excellent encryption software to keep hackers out; and you can rest assured that we keep your information only as long as needed and that we never sell it to third parties.

Getting a Loan Online is Much Faster than Other Options

One of the reasons that our repeat borrowers come back again and again to these loans is for the speed of the entire process. You can apply for a loan online, get access to our lenders, and get your application approved in just a few minutes. When it comes to getting the cash, your lender will transfer it directly to your bank account, so you can get it faster and you don’t have to waste time with a check or a trip to the bank. Most borrowers get their money by the very next morning.

Nearly Everyone Gets Approved for This Loan Online

With this loan online you can get approved easily and without needing to meet a lot of tough requirements. Our lender network has really high approval rates and this is because they do things differently from other lenders. They don’t rely on the standard credit scores from the main reporting agencies. Instead, they use a proprietary calculation that includes things like credit, job history, and current income. This results in high approval rates and easy approval for most individuals who apply.

So, Is a Loan Online Right for You?

Now that you have some of the facts, that this loan online is safe, fast, and easy to get approved for, you can make an informed decision about whether or not this kind of loan is right for you. Do you like getting money quickly, when you actually need it? Do you struggle to get approved for more traditional loans because of your low credit score? Do you worry about online security, but want to have the convenience of a quick and easy-to-access loan? If you can answer yes to most of these, you are the perfect candidate to get easy and fast cash with a loan online.

Should I Really Get a Loan Online When I Need Cash? By Scott Lobo - 5/10/17