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Qualifications For Cash Advances

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By Author: Marina Teramond
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In a world where your credit score seems to determine all that you can and cannot do, the idea of a no-credit-rating-required cash advance might be surprising. How can a lender provide cash advances if a borrower has a poor credit history?

Equally surprising is that cash advances can be received without offering collateral, as people otherwise do with car title and home equity loans. Again, on what basis can these short-term loans be made?

Cash advances require the borrower to have two things:

1. A job with the same employer for at least one to three months (this varies by location).

2. A bank checking account, where the loan can be sent electronically.

Beside that, the borrower only needs to have a computer with an Internet connection if he or she is getting an online cash advance (traditional cash advance stores still exist, however online borrowing offers several significant advantages).

The complexity of applying for a cash advance loan (for example, on NearMePayday.Loan in Baltimore) has been reduced quite a bit ...
... in recent years. The Internet of course makes it easy–you don’t have to go anywhere but a website, through your personal computer. But verification and security measures are much better as well, such that the time you spend applying, the process for approvals and the speed with which you get your money all benefit from improved technologies.

Cash advances use is unrestricted

You are not required to declare what your intended use of the cash is. So of course, you do not need to get approval from the cash advance lender for where you would spend your money.

This means you can use your cash advance for whatever you want. Certainly, many borrow from cash advance lenders to cover poorly timed bills. And in emergencies, the cash advance can be used to take care of smaller problems before they become bigger problems. But in some cases, it’s about buying something on sale, or traveling on a necessary trip.

More About the Author

Was born and live in Baltimore, MD, USA

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