Skip to main content

Although a payday loan is a quick and easy way to borrow money in the short-term, as with any loan, there are still lots of things worth considering before you apply for a payday loan.

What do I Need From a Loan?

Before applying for a payday loan you should consider how much money you need to borrow and how long you need to borrow it for. A payday loan is ideal for anyone who needs to borrow a small amount of money or doesn’t need the loan for very long. A payday loan is only designed to tide you over from one page to the next full stop if you need to borrow a large amount of money, or you need to borrow it for a very long time, a payday loan might not be the best option for you. It is also worth taking the time to calculate the total cost of your loan before applying.

If you need to secure your funds very quickly, for example you might have an unexpected payment that needs to be made suddenly, a payday loan is an ideal way of securing this. Finger Finance offers an instant decision on your loan and will send the funds to you the same day you are approved, this makes a payday loans one of the quickest ways of borrowing money.

If you need to borrow money but you have a bad credit score, a payday loan might be the option for you.  Your credit score will not affect your chances of securing a payday loan.

Am I Eligible?

Applying for a payday loan with Finger Finance is easy, there are just 4 things you need to be eligible for your payday loan.

  1. You must be a US citizen
  2. You must be over the age of 18
  3. You must have a regular income of at least $800 a month
  4. You must have a current account

You don’t need to worry about your credit score, with a payday loan a poor credit score will not affect your chances of securing a loan.

Will Applying Affect my Credit Score?

With Finger Finance, applying for a payday loan will never affect your credit score so you don’t need to worry about the effects of applying.

How Will I Repay my Loan?

When you apply for any kind of loan it’s important that you have considered how you will repay it. With a payday loan you should be able to pay off the loan once your next pay cheque arrives. However, it’s not always this simple. The important thing is that you have a clear plan for how you will repay the loan and avoid your payments. 

Finger Finance always gives you the option to repay your loan early. Not only does this put the power in your hands, but it means that you can save money on the interest of your loan.

Not repaying your loan can lead to a range of outcomes, you can find out more about what might happen here.

Is there a more suitable way for me to borrow money?

When you’re considering borrowing money, it’s always wise to do some research of your own and consider all the options available to you. While a payday loan offers a quick and easy way to secure funds, depending on your needs another option might be more appropriate.

Still Not Sure?

If you are still concerned about whether a payday loan is right for you, the best thing to do is get in contact with an impartial financial adviser. If money is tight, there are several not-for-profit money counselling services available online.

Leave a Reply