Not Sure If You Qualify For Cash Advances?

Even if you've experienced credit troubles in the past, you may find that you're eligible for cash advances.

Small loans paid back quickly

That's because cash advances (or payday loans as they are sometimes known) are typically for smaller amounts of money such as £100-£250 (however, this does vary by individual payday lender).

This means that the risks to the lenders are not as great as with larger amounts, so they may be prepared to accept applications from those with less than perfect credit histories - who might otherwise be turned down by the more traditional lenders.

Another of the main features of payday loans is that they are typically paid back on your next payday or sometimes the one after that.

They are paid back in full along with agreed interest and other charges.

Using your payday loan

Unlike many types of traditional loans, pay day loan lenders will not give you the third degree about why you want the money. It could be for things like:

- an unexpected bill;

- a closing down sale at your favourite shop;

- a surprise wedding or engagement gift;

- emergency car repairs.

It's entirely up to you. The important thing as far as the lender is concerned is that it is paid back in full on the date agreed.

Getting a payday loan

Typically payday loans are available online. You will generally have to complete a very short application providing information about yourself and your job and pay etc.

A fast credit check may be carried out. As noted above, you may find that even if you've accumulated some credit troubles in the past, your application may be accepted if you are:

- in regular employment with predictable pay dates;

- over 18 and UK resident;

- looking to borrow a sum that makes sense in relation to your monthly income.

You'll also typically need a bank account and an associated debit card.

This is to allow the loan to be paid to you and also to allow the pay day loan providers to set up the transaction to automatically debit your account on the agreed date with the repayment sum.

Super fast

If your application for a payday loan is accepted, you may find that cash advances could be in your account in a couple of hours if your bank can accept that type of fast transfer. If not, you may have to wait until the next working day.

Turning over a new leaf

Even if you have got the better of your previous credit problems there may still be times when you could do with a quick cash injection to tide you over until your next payday. Your credit history may prevent you getting this help from the more traditional channels.

Cash advances could be the solution you're looking for. Of course, no one is guaranteed to be accepted for a payday loan but a less than perfect credit history should not necessarily put you off applying.