One of the biggest troubles that people face these days is the rejection of the loan application. Lenders do not take time to not accept the loan application, which does not fit their criteria. Therefore, it becomes challenging for people who need emergency money. And, even if you find some lender giving you the loan and accepting the loan application, then trust me either the monthly premiums will be too high or the T&C of the lender for giving you the loan will be something too high, that you must not have ever thought of. Therefore, it is important for you to take the loans from the right lender, where there is flexibility.
Same Day Loans –
So, the best type of loan that you can take is no credit check loans same day. One of the best parts that you will know about this type of loan is that there is no stringent checking like that of the traditional banks. Plus, another best part that you will know about them is that they give the loan the same day and also fix the date or the next date on which you have to repay the loan amount or pay monthly premiums or as the case may be.
FICO Score –
No credit same loans same day does not harm your FICO score too. It will hardly take 15 minutes for your loan approval on the same day loan. If your loan request is approved then you will receive the cash the same day or the next business day. If you are applying for the loan early in the morning hours then you can expect the money after approval on the same day. But if you are applying after 4 p.m. or 3:30 p.m., then you can expect that after approval to get the money the next working business day.
Bad Credit Score –
In same-day loans, there is no stringent checking of the credit score and others. If you have a bad credit score or a credit score, which is 520 or less than that, then still they would accept your loan application based on the salary information that you provide the lender or the bank with. Your salary is very important and they would see the salary slip before approving the loan. So, it’s like you should have a constant flow of income in your account and this is what the lenders see and then they will approve the loan application.
When the Loan gets rejected –
If your credit score is good, but you don’t have a job or a salary that is consistent, then it may be difficult for the lenders to accept the loan application. Besides that, hard credit checking is also done where they will check your report like whether there is any pending loan, or whether you have defaulted the payment of the loan, or the lender, to check the creditworthiness of the borrower i.e., will check, etc. records and details, the capacity to repay the loan. Therefore, no matter how bad your credit score is make sure to have income proof ready, for the same.