Month: March 2018

Why a Traditional Loan May Not Be Right For You

When it comes to receiving money, you may typically think of a traditional loan. Traditional loans are fine and do have some benefits, but it may not be right for you.

The fact of the matter is not all loans are created equal and there are some loans that are better for certain people than others.

You just need to know what a traditional personal loan may not be the best option and why a payday loan may be better for you.


Less Than Desirable Credit

Is your credit score less than desirable? If so, you are going to discover that a traditional loan probably is not the money lending opportunity you need.

In fact, most financial institutions and even the list of licensed money lenders in singapore are not going to give you money at all if you don’t have a quality, if not stellar credit score. That is why you need to look towards a different option, like a payday loan.

Not The Amount You Want

Even if you are approved for a regular loan, you may not be approved for the amount of money you actually want or need.

That is right, just because you are approved for a loan does not mean you’ll actually receive the amount you need. With a payday loan, you’ll get the amount of money you need.

Things to Consider When Looking at a Payday Loan

When it comes to applying for a personal loan such as a payday loan, you need to keep a few things in mind.

These will help you determine whether or not the payday loan is the right form of money lending for you. So, before you begin any kind of application process, consider these small aspects of the lending process.

How Quick Do You Need the Money?

First off, how quick do you need the money? If you need it as soon as possible, an instant cash loan in singapore is for you. Why? Because you often can receive the money the same day you apply for it. Few other loans can say that.

What is Your Credit Score?

Do you have a less than stellar credit score?

Perhaps you have bad credit or no credit at all. When you have these forms of credit (or no credit) a payday loan is the way to go. With these kinds of loans you will be able to apply for your money without a credit check, which is excellent news as other financial locations will likely turn you down.

Doesn’t Affect Credit Score

No matter what your credit score is, one of the great aspects to a payday loan is the fact that it will not harm your credit score at all.