No credit check loans are fast cash advance loans, and they are very easy to obtain. You only need to be an adult, have income of at least $1000 per month, and have a direct deposit bank account. There is no need for a credit check, because you are not applying for credit. What you are doing is borrowing cash until your next pay day, and you promise in advance to repay that loan on time. The time span is usually at least a week or two, and sometimes up to a month if you are paid monthly.
It is not installment loans no credit checks because you are leaving as security a written check for the loan amount plus the fee, or signing approval for an ACH withdrawal from your bank account on the due date. If you do not have the funds in your bank account at the time of repayment, the default will be treated like a bad check, a bounced check, and go to collections. There will be more bank fees, and possibly additional fees from the lender. Also, you will not be able to get any other no credit check loans.
While they do not check your credit, they can and do check with their own tracking system which will reveal your history from other payday loans, and also how many other loans you currently do have out. In most states, you are not allowed to have more than one payday loan at a time. Car payday loans are good for those people who either have bad or no credit histories.
These are loans of convenience, and therefore have slightly higher fees than other types of cash advance loans. Fees usually are $15 to $25 per $100 borrowed, and from 456% APR. With no credit check loans and other higher risk loans, the fees and interest charged rise considerably. Bear in mind, these are very short term loans, days to weeks, and not by the year. Most people do not mind the additional costs involved, and are happy to get their no credit check loans.www.installmentloansnocreditcheck.com
