They say there are payday loans by phone with no credit check that allow borrowers apply for cash via using their cell. Lenders may not request full information over the phone to make sure you pre-qualify. But there will be a soft credit check after all that has no impact on your credit score.
Loans by phone are usually small loans. It’s possible to borrow less than $1,000. These are short-term loans and the repayment period often makes up to 1 months.
Soft credit checks can occur without your direct permission. But they won’t affect your credit score in any way.
Are Site With No Credit Check Safe?
There are websites that say deal with payday loans no credit check by phone or online. It does not even matter how they provide loans, but no credit check is usually a false advertisement trick.
While the process of application is faster over the over, you still need to be careful. For some people, it’s more convenient to talk with the operator by phone to avoid misunderstanding. But try to avoid providers that promise they won’t check your score. If the say so, think of what interest rate will apply?
Most of the lending companies promise to transfer money within 24 business hours. You should expect to get your money in several business days. Applying for payday loans apply by phone when you have a low credit is a risky thing for a lender. Therefore, the company needs time to find a lender, who will accept the risk.
In fact, loans by phone don’t differ from the online lending. Usually, these companies operate online and by phone and all terms are equal. They aren’t more or less beneficial than traditional lending online.