loan no credit check, what does it mean? The loans coming with no credit check are referred to as the safest way when people have poor or bad credit score. These no credit check loans are referred to the installment and payday loans that the lenders offer.
These are short-term loans and the lenders do not pay heed to the credit score of the applicants. They just run through alternative credit bureaus a soft credit check and this is very light. The soft credit check is nothing but ‘no credit check’ as it just offers an overview of your credit status and no one asks for authorization. It does not affect the credit score and is kept safe. However, such short-term loans are offered by Captain Cash and they are popular among people having bad credit. This is because they offer emergency cash in times of need.
Benefits of No traditional credit check loans
- Such applications are easy to fill and apply as online application. They just ask for basic information.
- No credit check is done traditionally and this means it is the simple soft credit check that does not show anywhere on your credit report. It is totally harmless and the credit score stays as it is. This is the ideal choice for people having poor credit.
- You can get an easy approval for short-term loan in just few minutes that the approval decision is fast.
- The information stays confidential and the transactions are also safe within the lender and you.
- These short-term loans are only for a period of 14-31 days and at the most it is given for a period of 12 months as installment loans.
- The ability to quality is also simple to avail or repay the loan. They just ask the basic information.
- The processing is quick and the money gets deposited in your active bank account on the same day or at the most on the next business day.
- There is no paper work required and even if it is required, they are minimal. This is because everything is done online and so the process is also easy and safe. However, there may be few lenders asking for some additional documents.
If you are above 18 years, you can avail short-term loans. However there is a need to show steady income source and to have an active bank account.