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Apply Online

Fill out our 24/7 fast, secure, easy and faxless online payday loan application which takes less than 3 minutes from the privacy of your home.

Instant-Approval

Instant Approval

Get quick payday loan decision with no credit checks run. We give instant approval for bad credit too.

Get-Funded

Get Funded

Get the approved cash advance deposited directly into your bank account on same day. No collateral no teletrack!

Payday Loans Don’t Directly Affect Your Credit Report

Are you among the ones who keeps on worrying whether payday lending will show up on your credit report or not? Then the answer is – ‘kind of’! Yes, the payday loans don’t directly appear on your credit history, as there is a ‘soft’ credit check done on your credit score that doesn’t affect your credit score. But, the next time when you apply for the personal loan from the traditional lenders like banks; they run a ‘hard’ credit check on your credit history. In this credit check, all your credit reports show up and hence can result in lowering your current score slightly.

How Do Payday Loans Affect Your Credit Reporting?

Payday loans are emergency funds and are supposed to be paid off in the following payday. But if you have difficulty in repaying the amount within that period of time, then your unpaid debt is being sent to the collections. Now the collection agency will report your debt to the national credit bureaus; hence affecting your credit score in a negative manner. This impact on your credit score can last up to the next 7 years. But there are still a few payday lenders like PaydayLoanTeller, who simplify this situation properly if you later pay back your payday loan. They simply inform the collection agencies about your payment, that in turn, help your scores to improve.

Therefore, a payday loan doesn’t affect your credit score, but an unpaid payday loan will definitely end up in lowering down your credit history.

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