When you have a financial emergency and need cash fast, most people turn to payday loans for quick and easy money. With so many wage day loan companies competing for customers, many are finding new ways on how to make the application process as basic and effortless as possible for consumers. Unlike other types of loans, good credit is not needed to acquire a payday loan. Many payday lenders only require the following:
-A steady source of income, at least $800 per month
-Be at least 18 years of age
-An open and active checking or savings account in the applicant’s name
-Not active in the military
If you meet the above requirements, you can able to apply for a guaranteed payday loan either in stores or online. Both options do require applicants to provide sensitive information to payday lenders. This includes personal data such as your social security number, phone number, home address, as well as your employer information. To give this type of delicate information out, many consumers can become confused as to which payday loan companies and options are reliable, secure, and safe.
There are many that perceive that providing personal information over the Internet could be unsafe. In some cases, they could be right. However, certain payday lenders online are now protecting their customers’ sensitive information on their websites. An important thing to look for if you decide to apply for a payday loan online is make sure that the website is secured with an SSL (Secure Sockets Layer) Certificate. To check if a website is secure, change the “http” of the website’s link to “HTTPS” (note the “s” at the end.) A secure site should show up exactly the same as its http version. You should also look for a lock icon somewhere in the window of the browser, usually at the bottom (not in the web page display area). Submitting to a secure site means that any data you provide will be encrypted using a complex system before it is transmitted across the web. This means that the information you submit can only be viewed by that website’s server. Some reliable payday lenders online include Lakota Cash, Payday Loan Yes, East side Lenders, Cash Jar, and Arrowhead Investment.
Though applying for a payday loan online is more convenient for most, acquiring a loan from a store could be a safer option for borrowers. Storefront payday lenders require a business license in order to operate in their state. To be licensed, they are required to follow certain rules and regulations to protect their customers’ personal data and information in order to prevent fraud and identity theft. Several storefront payday lenders even offer customers with payment plan options that are easily affordable. Some of these lenders include Check Into Cash, Easy Money, and Money tree.
Keep in mind that payday loans are made to be short-term financial solutions and should be paid off as soon as possible. As easy as it is to get a payday loan, it is even easier to fall into payday loan debt and even harder to get out of this debt cycle. Whichever payday lender and option you choose, always remember that your safety and security should always remain your top priority.
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