If you've been looking for bad credit loans, maybe you have come across information about various cash advance apps that are out there nowadays. Even though it might seem appealing to use one of these apps, or although you might be thinking about taking out payday loans or title loans, we have a better option for you. If you have a low credit score but need to borrow some vacation cash, we'd love to help you out at Hilltop Pawn Shop & Jewelry.
Are Cash Advance Apps Legit for People With Bad Credit?
Maybe you have heard that there are apps out there that allow you to borrow money. If this sounds too good to be true, you should definitely do a little bit of research.
First, we'll start by acknowledging that there are legitimate cash advance apps out there that will allow you to borrow money. Many verify your bank account...this allows them to see things like whether or not you receive regular direct deposits (such as from your monthly government benefits or your paycheck from your job.) If you have a long history of timely, predictable direct deposits and if your bank account is in good standing, one of these loans might work for you.
Just be aware that there are some downsides. Just as there are legitimate personal loan lenders that operate these apps, there are shady websites and apps that you have to be careful about. The last thing you want to do is provide your personal information (like your date of birth, social security number, and information about your accounts with banks or credit unions) to a shady "company."
These loans also aren't suitable for just anyone. Typically, they're relatively small loans, based on your income. You might be able to borrow $50, for example. This might be helpful if you're just running short on a little gas money to get by until payday, but if you need more than that, the app probably won't help you. It's also important for you to pay close attention to repayment terms. Many of these loans charge much higher interest rates than you would expect, which can simply make your financial situation worse when it's time to repay.
Basically...we aren't going to tell you not to try a cash advance app. Some people find them useful and have a good experience. However, be aware that some do have at least minimum credit score requirements, and even those that deal with people who have poor credit history, they often look at things like your bank account. Also, with these loan options, loans are usually small, and repayment terms are tough. Instead of looking into unsecured personal loans from an app, you may want to consider something like a pawn loan from one of the top lenders in Virginia Beach, Hilltop Pawn.
Top Reasons to Consider Bad Credit Loans from a Pawn Shop in Virginia Beach
If you are looking for a better and easier way to borrow money -- even with a bad credit score -- you may want to take a step back from online lenders (like those that offer payday loans with high interest rates) or cash advance apps. Instead, why not visit the local store that is way more inviting than the average financial institution...our family pawn shop and jewelry store, Hilltop Pawn in Virginia Beach!
Had a late payment on your auto loans or credit cards? We don't care. Defaulted on the last emergency loan that you took out? Doesn't matter. Haven't had your job long, or haven't even started your job yet? We will never even know! So many people love our financial products for people with lower credit scores because we're so flexible, and we make things so easy. Eligibility requirements are minimal (just be 18 with a valid ID and collateral to secure your loan), and you'll get a loan approval on the spot.
With our no credit check loans, you can use your loan proceeds for anything you want...we don't even ask. The minimum loan amount is just $5, but the good thing is you can borrow much more...in fact, we make loans of up to $50,000! We offer one of the best ways to take out a bigger loan -- regardless of your credit rating -- because you choose how much you borrow. Bring in ample collateral to secure your loan, and we'll grant it...all without caring if you have a good credit score or a high annual income or defaulted student loans. It's not our business...we just want to make borrowing as easy for you as possible.
Unsecured loans aren't all they're cracked up to be, especially if you have less-than-perfect credit. Cash advance apps aren't always as great as they initially seem, either. Luckily, there are other types of loans you can try, including bad credit loans from a pawn shop. If you need to borrow some cash for an upcoming vacation or any other purpose, we'd love to help! Visit us or give us a call at 757-769-7254 today...our friendly and knowledgeable staff are here to help you!
Thanks for the detailed comparison between cash advance apps and bad credit loans from Hilltop Pawn. It's true that while cash advance apps can be convenient, they often come with hidden pitfalls like high interest rates and limited loan amounts. For those with bad credit, low interest personal loans are the best options for the borrowers.