Check out these top ten reasons why payday loans could be the right short term loan for you.
Okay – no doubt you’ve come across payday loans before, and even if you haven’t – you’ve probably heard of them.
They’ve been around for quite a few years now and, whether you know them through Wonga, PaydayUK or QuickQuid, their adverts are all over the place, be it on TV, billboards or even on the London tube!
But have you ever considered taking one out? Well, if not then check out Creditwindow’s top ten reasons why payday loans could be the right short term loan for you:
1. Payday loans are fast
Did you know that, once you apply, you could be approved within minutes? With the majority of payday lenders, such as PaydayUK and Wonga, you simply need to enter your bank account details and voila! Simple.
2. Safe and Secure
Creditwindow’s list of approved payday loan companies all have a completely secure application process using the likes of SSL security to ensure your sensitive details cannot be accessed by anyone other than the payday lender processing your payday loan.
3. Get up to £1,000 payday loan
You can get a payday loan from as little as £80 to as much as £1,000, depending on your circumstances. It’s easy – just click on one of Creditwindow’s approved payday loan lenders and find one today!
4. No credit checks
Most payday loan companies understand that everyone needs a hand now and again – even those with poor credit scores. Let’s face it – if you’re looking for a payday loan then the chances are your credit score isn’t looking so hot… payday loan companies will not run a credit history checl but will process your application based on other information such as income, employment status and a valid bank account with debit card.
5. Same day payday loan deposit
The top payday loan lenders out there can offer a faster payment service that allows customer to get a loan within hours rather then having to wait a day or two for the money.
6. Payday loan in a hurry – emergency situations
A payday loan could be the perfect solution to all sorts of cash issues that may arise, from car or house repairs to unexpected utility bills or even travel expenses. Whatever your reason – a payday loan could be ideal to help meet some of those unexpected problems that may arise.
7. Improve a poor credit rating
Did you know that everytime your pay off a payday loan this is reported to a credit referencing agency, such as Experian or Equifax? Well – this goes towards rebuilding your credit score and could go towards helping you secure other forms of credit such as credit cards, mortgages or unsecured loans.
8. Straight-forward, affordable interest rates
It’s true – believe it or not. Most lenders charge between £20 – £25 per £100 borrowed. So – you borrow £100 at the begining of the month – you only pay back £120 on your payday. Remember – the high APRs splashed across payday loan sites are really not representative of the actual amount you pay back. APRs tend to be a measurement over a twelve month period – a payday loan only lasts a month, therefore you don’t come anywhere close to paying as much as this in reality!
9. Responsible lending
Creditwindow’s panel of payday loan lenders have been carefully selected to ensure they are legitimate, compliant and adhere to responsible lending. The payday loan lenders on Creditwindow will not let you pile up debt and get into financial difficulties but will work with you to ensure any debt is controlled appropriately.
10. Payday loans are an easy option
Payday loans are a straight-forward, no nonsense option that bypasses a lot of red-tape that you would normally need to go through to obtain a regular unsecured loan or credit card. Whilst we appreciate it’s not the best option for everybody it’s certainly worth considering if you need funds quickly.