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3 Instant Cash Loan Myths Debunked

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Some people are hesitant to use instant cash loans just because they believe in myths about them. Find the most common myths debunked.

Myth 1: You have to have good credit history to get approved.

Truth: Any person who is over 18 and who has employment and earns an income from it can apply and get approved for instant cash loans. It does not matter whether you have had bad credit and whether you have been blacklisted. Many lenders will extend credit even to individuals who are currently in debt.

Myth 2: Applying and getting approved takes quite some time.

Truth: While banks like FNB, Teba Bank and Imperial Bank may require a pile of documents and take up to a week to review your application, the small independent lenders providing instant cash credit require only a proof of ID, the number of your checking account and the filling out of a short online form. You can submit your application in minutes.

The approval usually takes an hour or so but in some cases it is instant.

The funds will be in your account within 24 hours. It is that simple, easy and quick.

Myth 3: These loans are expensive.

Truth: The different lenders charge different interest rates. In recent years, the market for these loans has become much more competitive so everyone is trying to offer a cheaper product which comes with better terms and conditions. You will find these loans to be much more affordable than you thought they would be.

Compare instant cash loans from different lenders online to find the cheapest deal.