Many lenders will shy away from advancing credit to people without a credit history. This can be a nightmare if you are in a financial fix and in an urgent need of money. It gets even more frustrating considering you will need at least 6 months of credit history to build a credit score. However, it is possible to get money without a credit history.
Here’s how you can go about it;
Apply for a payday loan
Payday loans can save you a whole lot if you do not have a credit history. They range from $50 to $3000 and act as a cash advance until your next paycheck when the loan is due. Almost everyone has faced a situation when they need money urgently for quick repairs, dentist visit or purchase a necessity. Payday loans come in handy in such situations if you do not have a credit history. For Utah residents you can contact Money 4 You Payday Loans, our approvals are made in as little as 15 minutes, and you can get up to $3000.
Borrow from family and friends
You can bet this is the oldest form of lending on the planet. Although not guaranteed, friends and family can help you out of a financial fix. The advantage of borrowing from a friend or family is that you have the chance to negotiate on a flexible payment plan. However, the disadvantage is that getting a loan from friends or family is not guaranteed. As such, they might disappoint you when you are in urgent need of money.
Apply for a secured loan
Secured loans have assets attached to them as collateral in case of a default in payment. For example, you can secure a loan using your car as security. If you do not have a credit history, you can get a cosigner with a healthy credit score to help you secure the amount. The downside to this is that it’s not always easy to get a cosigner to help you out with your loan. Also, if your assets cannot be used as viable collateral, then you might miss out on the loan.
In a nutshell, getting a payday loan is the most reliable way of getting money without a credit history. Payday loans are processed in real time and are reliable in urgent situations. Also, the fact that you do not need collateral to secure a payday loan works to your advantage, especially if you are starting off in your career.
At Money 4 You Payday loans, we are a locally owned lending company based in Utah. 20 years ago, we set out with the ambition to offer topnotch lending solutions to Utah residents. Today, we have expanded to 20 more locations, but our dedication and approach towards lending hasn’t changed a bit. Against all the odds, we have maintained our rates for 20 years, probably a record time in any industry. Looking for a reliable payday loan? Contact us today or visit any of our locations for more information.