10 Quick Important Facts About A No Credit Check Line of Credit
1. The “No Credit Check” part is real!
Most lenders working with these line of credit loans use their own custom system for determining creditworthiness, rather than the standard credit report. So if you’ve been wanting or needing a personal loan and believing it was impossible for you, think again!
2. A line of credit gives you more access to more cash for a longer period of time
Every time you make a payment, the principal you’ve repaid goes back into your available balance so you can borrow it again – unlike traditional loans that need to be reapplied for every time you need cash.
3. Online loan applications are faster and more convenient than the traditional paper
Instead of beginning with a visit to the bank or financial services office, all you need is a secure internet connection and the computing device of your choice and you’ll be up and running.
4. You can apply online in just minutes
No long drawn-out process that takes days or even longer to get through. The online form is comprised of three quick sections, one each addressing your personal identification information, your employment, and your banking info so the approved funds can be deposited directly and drafted directly when repayment time comes.
5. A No Credit Check Line of Credit gets you cash in as little as 24 hours.
The whole system is set up for speed, so you can keep the lights on, put gas in your car, or buy that birthday present you forgot about – whatever the need is.
6. No financial statements or prior year tax returns are required!
Traditional loans are known to ask for a lot of backup information about your finances, such as tax returns, lists of monthly expenses, or credit references. None of these are needed when you apply for a no credit check line of credit.
7. Online loan applications are as safe
as the other financial transactions most of us conduct every day – checking our bank balance, making purchases, or paying bills. The same type of encryption technology is used on the loan application website as is used on those other types of sites, so your identity and personal information are secure.
8. It’s important to complete the whole application accurately!
Any small error might prevent verification of the information – such as your address or employer – which can put your approval at risk.
9. Approval takes less than two minutes!
After the application is completed and submitted, sit tight because lenders respond in just seconds, right in your browser.
10. There’s no obligation!
Until you sign on the dotted line – or in this case affix the electronic signature – the choice is always yours. So there’s no downside to applying for no credit check line of credit, get an offer and see if you like it!