Is a numerical expression based on a balanced analysis of a person’s credit record, representing the credit worthiness of the person. Lenders like banks and credit card companies evaluate the potential risk exhibited by these persons when they apply for loans by studying their credit scores. In the present context, the loan agencies are hardly concerned about the credit score of their clients.
Customers have to fulfil the following criteria
- Be at least 18 years of age
- Provide proof of citizenship, such as social Insurance Number
- Have a bank account in your name
- Provide work and home telephone numbers
- Provide a valid email address
Benefits of Cash Loans
- Lower rates of interest than payday loans
- The credit score is not an issue
- Ease of getting loans
- Payment plan can range from 6 to 60 months
- Borrowers are given a choice of lenders, whose credentials they can go through and choose which one suits them the most. Some of them are almost like loan search engines.
- Ease of applying and finding a lender on the same day
- Poor credit loans are also available (these are loans at very low interest rates for those who do not have a good credit history)
These are very useful for paying off credit card debts. Banks refuse loans on seeing the outstanding credit, and the credit card company continues charging high interest. A good way to pay it off would be with this cash loan where the rate of interest is much less than what the credit card charges, and the credit worthiness of the person is not an issue.
This is one sort of institution or agency that clearly is on the side of the borrower, and finds lenders who are willing to understand their circumstances just like they do.