Loans with no credit check and gaining in popularity among people from all walks of life. Here's why:
MY guess would be that "the establishment" doesn't like these loans because they are fast and convenient and appeal to a broad range of customers. My answer to them would be, if no credit check loans companies are taking your business then compete. In this economy, it pays to be more accepting of a customers circumstances!
- They're paid fast. No credit check loans are usually paid to customers within a day or two, so are ideal when you need money fast. First Choice Capital are a great example of this, and I always use them when I want fast cash without a bunch of time-wasting paperwork. They have a simple application process online, and fast approval, and fast cash. Other lenders offering loans with no credit check seem to follow this sort of protocol, though I like First Choice Capital for several other reasons, as they tick all the boxes for me in terms of service.
- They are reliable. Because they don't credit check for these loans, you are virtually guaranteed the cash you ask for. You make a short online application, and give details such as name and address, once verified you are approved and you only need then to accept the terms offered. This makes the whole process fast and convenient, and can be done during a coffee break. No more wondering for days if you'll be approved or not, as with a regular loan, which these days are becoming increasingly unreliable for many, who apply for cash only to be refused a week later.
- They lend to anyone. Because ANYONE can need to borrow money! Regular lenders seem intent on offering loans to people who are so financially secure they rarely need one, meanwhile people who are actually struggling would be in serious trouble. No credit check loans are intended to help people who otherwise have no other options.
- Non judgement. You can borrow for any reason. You might want money to cover a repair or big expense. Or, you might just want a well-deserved night out with your friends, or a few days to relax. Because they are no credit check loans, you can borrow as often as you like and it won't impact your credit record in a negative way, usually if you apply for credit "too much" it can lower your credit score.
MY guess would be that "the establishment" doesn't like these loans because they are fast and convenient and appeal to a broad range of customers. My answer to them would be, if no credit check loans companies are taking your business then compete. In this economy, it pays to be more accepting of a customers circumstances!