A new credit scoring system is being developed that aims to create a more complete depiction of a consumers financial standing, which will
include payday loan applications, rental payments in collection and judgments for child support, phone bills, property tax liens, and utility bills, among many others.
While the terms are basically similar to ordinary
payday loans, some benefits derived from applying for a
payday loan on the phone
include instant response on the lending decision, fast
application process, usually not more than five minutes and quick access to cash, should one qualify for the
loan.