Not exact matches
But if you compare OppLoans to
lenders whose target are people
with poor credit
history wanting to borrow money, such as
payday lenders, then OppLoans is quite competitive.
If you deal
with payday lenders and other sources that don't report your good payment
history, it can cause credit score problems.
For comparison, many
payday lenders, who also lend to borrowers
with poor or limited credit
history, charge interest rates as high as 400 % and require borrowers to pay back the loan over a short period, usually two or three weeks.
It is much easier to get a quick
payday loan once you have established a credit
history with a cash advance
lender and your credit limit might be increased, the next time an emergency cash need arises you will be able to get the cash you need even faster.
Sometimes a
lender may want to see what your
history with payday loans is like, but generally, all they want to know is that you earn a living
with a regular paycheck from your job.
It just doesn't matter because for direct installment loan
lenders, poor credit is much less important than how much you earn and how your job
history demonstrates your ability to be responsible
with money and to afford a small
payday loan.
Generally most people will be able to get approved a Loan and this is one of the reasons why
Payday Lenders charge higher interest rates along
with the risks they take for lending money to individuals that may have a bad credit
history.
Instant online
payday loans for individuals
with bad credit
history and / or a low credit rating are not crafty «pitfalls» that cash loan
lenders use to fool people — it's quite the opposite in reality.