Installment loans tend to carry a much higher APR than you'd normally get from a commercial bank. This is the case because installment loan lenders assume a greater risk by lending to customers without requiring any collateral. However, this higher APR does not mean that your payments will be exorbitant; and if you repay early, you can save tons on interest.
Good credit isn't required for a LendUp Loan, and our cash advances have no credit check hard pull. While we do use an internal approval process and can't approve every applicant, we don't base our cash loan approvals solely on traditional credit scores. We routinely work with individuals who have faced credit challenges recently or in the past, and we may be able to provide a credit product that helps you get back on track.
In addition to not having savings in place to avoid taking out a payday loan, maybe you do not have a credit card or line of credit because of a bad credit score or no credit history. Many people also struggle with achieving and maintaining good credit. You can start building your credit history and getting a good credit score with a few actions. There are things you can do right now to improve your credit and things you can do over time with your existing debt and new credit. Having good credit can also help you to avoid the need for payday loans because you can get approved for a credit card with lower interest rates, making this a more feasible option when you need fast cash.
Installment loan payments include a small portion of the principal loan amount, as well as a portion of the interest charged on the principal loan amount. You can simply follow your payment schedule, or make early payments on your loan to get ahead with no penalties or fees. Each month, you will receive an email notifying you that your statement has been updated on your dashboard.
A highlight of requesting a cash advance online (also known as a “payday loan”) from Cash Central is that you can breathe easily through the process. After all, when you’re in need of cash for an emergency, the last thing you want is something else to worry about. Cash Central’s simple online application process makes sure that’s the case. It’s not only transparent and easy to complete but is also backed by stellar customer support, regulatory safety nets, next banking day funding* and a track record of 96% customer satisfaction.**
We adhere to the principles of the federal Fair Debt Collection Practices Act (FDCPA). Because we may report your payment history to one or more credit bureaus, late or non-payment of your loan may negatively impact your credit rating. If you fail to repay your loan in accordance with its terms, we may place your loan with or sell your loan to a third-party collection agency or other company that acquires and/or collects delinquent consumer debt.
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