Before you can get payday
lenders out of your checking account, you need to consider several things.
Not exact matches
If you decide to go with an online
lender, you can fill
out your application on the Web and have a decision in a matter
of minutes, with direct deposit to your
checking or savings
account in less than one business day.
But those don't do your credit score any favors; it's money in, money
out of your
checking account that doesn't get reported to the major credit bureaus in charge
of compiling your credit history for future
lenders to see.
With
lenders often having access to borrower's
checking accounts, they are able to directly deposit money electronically as well as automatically draw funds
out of the
account for the payment.