There are loads of payday advance options and doing your research to find the right lender is important. So how do you know which provider to pick? Here are a few things to look for whenever shopping for a paydayloan lenders:
1 Are they licensed? – You definitely want to go with a licensed company as they are likely to be a lot more reputable than a company that is not licensed. Check the FAQ or Organization information for this detail. If its not there ask a provider representative by way of email or phone.
2 Is their web site secure? – If you are applying on line make sure that the application is secure. Look for any type of icon or symbol saying that the application is a safe application.
3 Know what they need – If you are hunting fax free direct lender ensure that anyone you search at is faxless, not all of them are. Also, check the FAQs and approval criteria for any detail on what the provider will need from you for verification. Many companies will list this. As I see it companies that will not list this tend to be less strict and need less but that is definitely not always the case.
4 Shop the terms and rates- Yes, it is possible to do this! Most lenders will certainly not give you precise rates or terms while not filling out the application, but you typically can call and they can provide you an assortment. Ask exactly what terms a typical first-time customer receives. For instance their are providers who charge only $15 pr $100 borrowed for first time customers and others that charge $30 per $100.
Also, an additional trick for shopping rates is because the application will not hit your credit you can fill out several and when immediately approved you will find your rates and terms. DO NOT E-SIGN YOUR DOCUMENTS. Only sign the one with the rate that you want, the others will often expire within a day or so.