Do you have to have good credit in order to take out a PayDay loan?

Don't use payday laons, you are going to endo up deeper than what you are right now.


Yes, you get the money fast, but what if the next pay day you need the money as well? It just keeps going and going.


My advice, don't get into this.

Do you have to have good credit in order to take out a PayDay loan?
Payday loan companies don't normally do credit checks. You just need to have a regular source of income, proof of income and a bank account.





Payday loans are not ideal but if you have a cash emergency and no other way of raising the money then they can be a lifeline. Just be sure not to borrow more than you can afford to pay back when you get paid. You don't want to get into the debt trap of repeated payday loans!





Check out this website which has a lot of useful information and tips, links etc. where you might find what you need. I hope this helps.





Good luck!
Reply:I think payday loans are for people with bad credit.
Reply:Nope, all I ever had to have was a checking account, bill in your name and a paycheck. They make those things too easy to get... if you're not careful you'll be in bad shape.
Reply:People with good credit are not the typical clientele for a payday loan company. So no, you don't have to have good credit.
Reply:At the majority of places no, but I would not recommend doing it unless it's really necessary because they get you on the fees. Most place they are $8-$10 per fifty dollars that you borrow, and depending on how much you borrow, that can add up. If you get paid in a couple days just eat top ramen and keep it movin....it's really not worth it because you get to where it becomes a habit.
Reply:Don't do it! They're shylocks. Exorbitant interest. Borrow from anybody else but not these shysters.
Reply:No, all you need is a checking account and a job. But why do you want to take out a loan at criminal interest rates for a few weeks? You'll go thru hell when it comes due.
Reply:No, you do not. If you want to go the easy route, you can use an online service such as www.paydayselect.com or www.cashtransfercenters.com. The interest rates for these services are usually very high. Local places, such as Check Into Cash, usually have a lower interest rate.
Reply:no, but bewar of the HUGE interest rates these scumbags charge.
Reply:No. Usually just a checking or savings account with direct deposits going into the same account from which the payment will be drawn.