Guaranteed Payday Loans

Guaranteed payday loans are something a payday loan lender may advertise, but often times is only used as a marketing tactic to get you in the door. The truth is that there are no such thing as guaranteed payday loans, and even though payday loan lenders may advertise that they can offer you guaranteed payday loans, the reality is that you’ll still have to fulfill a few essential requirements before they can approve you.

You must not be tricked into believing some of the claims these payday loan lenders will make. Some of the typical advertising headlines will use catch phrases such as guaranteed payday loans, payday loans guaranteed no fax, and guaranteed approval payday loans. All these statements should be taken with a grain of salt because like I said before no payday loan can be guaranteed to every individual.

While these lenders might make it easier to get approved, you will still have to fulfill their essential requirements, which aren’t many, but still do exist. It is also important to note that lenders making such advertising statements could actually end up charging you more via interest and finance charges due to their leniency while providing such loan. You must compare and contrast payday loan lenders to see if you are getting sold up the creek without a paddle by following up on these kinds of advertisements.

A lender stating that they provide guaranteed payday loans will still have some requirements before they approve a borrower. Most lenders will absolutely require you to have a job, or some other kind of demonstrable income before they approve you. This is typically an absolute requirement, and ninety-nine point nine percent of payday loan lenders will insist that you have this in check. The minimum most lenders will require is at around eight hundred dollars, and while some will make exceptions, the majority will stand by that metric pretty closely.

You next should have a bank account that is in good standing. This should most of the time be a checking account, but there is such a thing as a savings account payday loan, and these kinds of payday loans will only require that you have a savings account. They are a bit more obscure and harder to find than your standard payday loan, so it is recommended that you have a checking account before you apply no matter what. You should then be able to show the lender the appropriate identification documents, and they should support the fact that you are over the age of eighteen.

Lenders that advertise guaranteed payday loans will typically only require the past set of factors before approving your application. You should be aware that some of these lenders will still require a credit check even though they are advertising using terms like guaranteed. These lenders should still approve you even if they do find out that you have bad credit, but I wouldn’t want to make any guarantees, no pun intended. The best thing to do is to ask your lender before you apply what their policy is in regard to credit scores, and credit reports. Some lenders will not care about credit scores no matter what, but will then check a credit report to see if there are any bankruptcies. If you have a bankruptcy on your credit report, again the best thing to do is to ask your lender what their policy is, and in the end you want face any surprises.