Here are some life changes and paperwork revisions that might make your quick cash request look more appealing to lenders. Remember, lenders only have so many resources. If they have more people asking for money than money to give, then they will use certain qualifiers to figure out where the money should go.
You hold your breath, click the loan request button, and hope for good news. But, you keep getting denied. We might be able to help with that. While there’s no surefire way to get qualified every time, please read on for tips on how to improve your chances of getting a cash advance loan.
The amount of money you get for a cash advance might be directly related to how much you earn each paycheck. That’s because you’ll be expected to repay the loan the next time you get paid, and the lender may not be willing to offer you money if they think there’s a risk you’ll default on the loan for lack of funds.
When you make more money, it can be easier to find a lender that’s willing to work with you. As a bonus, it gives you a chance to get a raise.
False information may fill your credit report. Why wouldn’t that be the case? Until you ask for a copy, there’s no one double-checking it for accuracy.
Once you have your report, you can start the process of removing anything negative. You can dispute charges and accounts from over seven years ago (except bankruptcies, which stay on your report for 10 years) and inaccurate information.
Your report should include details on how to dispute delinquencies with the credit bureaus. After you clear up these issues, your credit score may improve.
Your credit score is just one part of your credit history. A lender may also look at other factors. Because of this, here are some things to remember:
It’s impossible to know everything a lender looks at until you ask them. Find out what aspects of your credit history are important to the lender, and then work on getting those ducks in a row.
That big national bank chain may have already turned you down, but you might have better luck at a local bank. Community banks sometimes have a less strict risk assessment model, and bank managers may be able to find a little more wiggle room to get you approved for a small dollar loan.
Before you try this option, be sure to boost your credit score as much as you can by using the tips from numbers two and three on our list. It will also help your chances if you show up with a cosigner who has a better credit score than you. A co-signer takes on the risk of having to pay off your loan if you are unable to, so it can sometimes be difficult to find someone willing to do this.
Payday loans aren’t right for everybody. There might be a better financial product out there for your situation:
The point is you need to shop around. Understand what you need, and then try to find a source that offers that kind of funding. There are many kinds of lenders out there. Hopefully, you’ll be able to find one that’s right for you.
We hope these tips help you get the money you need. We admit that not all of the suggestions on this list have to do with cash advances. That’s because you don’t always know at first which financial product is going to be the right one for your situation.
No matter which financial product you end up going with, improving your credit score and propping up your credit history should make the process easier. We wish you luck as you continue in your quest to find money.