Repair Your Credit | Advantages of Payday Loans (Pt. 1)

What are the advantages of payday loans?

“Repair Your Credit,” starting today! These tips can help you get there.

Last time, we talked about the type of loan that might work best for you. This time, let’s take a closer look at payday loans and see the ways in which this short-term consumer loan product can help you in situations that would otherwise damage your credit rating.

They’re quick cash

The greatest advantage of payday loans is that they can supply you with essential cash in as little as two hours. This differs from borrowing money through a bank in that you will be blissfully free of the bureaucratic delays and exacting bank management approval processes. Your focus will be getting the cash you need as quickly as you possibly can. What more could you ask for in an emergency situation?

You can maintain your credit score

Bills come due each month whether you like it or not. You’re responsible for taking care of business. But do you worry that something like those emergency car repairs are going to leave you short? Paying late is not a good choice if you plan to maintain your credit rating.

Your FICO score will begin to take a tumble if you don’t matters into your own hands. Since this credit score is what creditors look at to determine such things as the interest rates for financing a home, automobile or other big-ticket item, it pays to know where you stand before entering into such a purchase. Insurance premiums for home and car are also closely tied to your credit rating. The lower your score, the more you’ll have to pay. ... click here to read the rest of the article titled "Repair Your Credit | Advantages of Payday Loans (Pt. 1)"