We all face unexpected bills sometimes and need a loan to help cover our costs. Unfortunately, if you have bad credit, your options to get funding may be limited. Banks may not be willing to give you money in a timely matter, or worse, not at all. If you have poor credit, don’t give up on your financial problems. Though many government and financial institutions use Teletrack data to review your credit history and deem your trustworthiness as a borrower, some lenders do not.
A no teletrack payday loan is available to solve your financial woes and help you prove your responsibility. When you opt for a no teletrack cash advance you’ll receive your money quickly and hassle-free.
How Are No Teletrack Short-Term Loans Different?
A no teletrack cash advance is a loan for a small sum of money with a short-term length. Direct lenders offer these loans without requiring a hard credit check through a Teletrack system. Instead of reviewing your credit score, they base their decision on your ability to repay the loan promptly. They place more value on your employment and income instead of your credit data when assessing the risk of lending money to you. Whatsmore, this type of credit check won’t harm your credit score.
What Does No Teletrack Mean?
If you receive an installment loan with no teletrack, you will be expected to work towards repayment monthly by paying small amounts. To apply and be approved you won’t have to go through a credit check with a teletrack system. They are available to those with poor credit and no credit. The lender will use a soft check to review your basic information and borrowing history.
What’s In a Teletrack Loan Report?
A teletrack loan report will often provide lenders with the information below:
- Your borrowing history up until today
- How many previous short-term loans you have taken out
- Information in addition to your basic credit history
You can breathe easy though. At PhenomCash, our lending partners don’t use Teletrack systems and don’t have a problem with extending loan offers to those with bad credit. Our approval rate is high; allowing you to get cash quickly without hard credit checks or going through a teletrack review.
Why Is No Teletrack Important?
Most financial institutions will use a hard credit check to assess the risk of extending you a loan. This is common practice for determining your creditworthiness and responsibility as a borrower. If the teletrack system reports late payments or missed payments, it may prohibit you from getting the funds you need. A bad credit report can prevent banks, lenders, and lending services from extending you a loan. While they are running a hard credit check you will be kept waiting. Lengthier reviews of your credit history mean a longer approval process. The bottom line? It can be hard for those with bad credit to get a traditional loan.
The lenders we partner with don’t use telechecks or hard credit checks when extending a payday loan. Their approval process only involves a soft credit check, which is a review of your basic info and borrowing history. They make decisions based on your income and place of employment. The application process is much quicker and easier without having to go through telecheck, especially for those with a less than stellar credit history.
Can I Get a No Telecheck Installment Loan with Bad Credit?
Yep! In fact, it may be an ideal solution for you. Our quality lenders won’t run a hard credit check or even place much value on your credit report. They care about your ability to repay the loan on time as determined by your employment and income. Bad credit? No credit? You can likely still be approved for a no teletrack installment loan anytime.
Things to Consider Before Agreeing to A No Credit Check Installment Loan
Don’t agree to an installment cash advance before getting all the necessary credit information from your loan provider. It is a good idea to inquire about no teletrack loan fees, obligations, rates, requirements, and repayment terms. Your loan servicer should provide you with all of this information upfront and with transparency.
Know that you are responsible for honoring the agreement, including the terms and conditions of repayment. The process of getting a no teletrack payday loan is very quick due to the lack of credit checks, however, these loans can sometimes include higher fees. If you need money urgently, a no teletrack cash advance can help. Just be aware of your rights and ask for more information if you feel it is necessary.
Is It Easy to Get Guaranteed Approval for a No Teletrack Loan?
While no loan is 100% guaranteed, our lending partners have a history of approving nearly every loan. While it is easy to get approved for a loan, it isn’t instant as our lenders will need to run a soft credit check and review your application. For most borrowers, an instant decision on their approval comes within a few minutes.
How Can a No Teletrack Payday Loans Direct Lender Benefit Me?
Here are the reasons why you should consider a no teletrack loan:
- No matter your credit history, a telecheck won’t be performed
- The application is straightforward and quick
- One application provides you access to hundreds of lenders
- Approval decisions within minutes, guaranteed
- A third party will never be involved
- There are no hidden obligations, fees, or taxes
- Quality lenders and financial services
Along with these advantages, you can also expect your deposit to arrive in your bank account within one business day. The entire process, from application to repayment, is effortless.
How Can I Apply for a No Telecheck Payday Advance?
Simply navigate to the application form on our website. All we need is your basic information, your bank account info, and the sum you are requesting. After submission, a decision will arrive in the inbox of the email address provided. You won’t have to go through a middleman, your application will go directly to our lending partners. Should a lender be ready to grant your request immediately, you could get your funds the same day.
Bad Credit Score No Telecheck Loans
Don’t worry about where to find funding if you have poor credit. Our trusted lending service can help you with your financial problems quickly and efficiently. We accept borrowers with every type of credit history. Fill out the application today and receive a guaranteed approval decision almost instantly for a no teletrack payday loan. If approved, your deposit will likely be available within one business day.