Sunday, 31 March 2013

Our top five tips when applying for a pay day loan

Many people ask what they need to know if they are applying for a pay day loan.

Here are the top five tips we recommend:

1. If you have had a pay day loan before, then it is always best to go back to the same lender. You have built a good reputation with them and they will see you paid off your previous loan. Doing this also means you are more likely to have your application accepted too. Sometimes, if you go to a brand new lender the process could take longer so it’s always best to stick to a lender you know, who also knows you.

2. The online applications are so easy and simple you can apply for a loan and receive a response to your application within minutes. If your application is successful then in many cases you will receive the cash in your bank within minutes too!

3. Always try and budget so that whatever you borrow, you know you can pay back upon receiving your next wage. By making some simple calculations of the money you need in the coming month to cover your expenses you will be able to calculate what you have spare. This will ensure you can pay back your loan.

4. Most reputable lenders have excellent customer service teams who are available to answer all your questions. At time, there are customers who need to ask about APR or to check repayment methods. Make sure your chosen lender has a customer advice service so you can access help if you need it.

5. All good short term cash lenders also have excellent websites where you can access your online account. You will be able to check your balance, confirm repayment dates and apply for further loans in the future. It is an excellent way to manage your account, quick, simple and your information is always kept safe and secure.


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