Need Rapid Cash Review

Need Rapid Cash ReviewNeed Rapid Cash says that you can get up to $500 into your account as soon as tomorrow. That may sound like a pretty good deal, but lets look at what it entails and see if it’s something that you should do or not.

The lure of fast cash is sometimes hard to resist, and that’s when you need to be extra careful that you don’t get into a loan that has unfavorable terms and conditions and high interest rates that worsen your situation rather than better it. Always take your time in evaluating what is being offered, and perhaps have a close friend or family member look it over with you.

They say that any credit type can qualify for their loans, which is interesting because in the fine print at the bottom it says that they have lenders that will check your credit. Why would they check your credit if any type of credit can qualify? Most payday lenders that you visit in person will not check your credit. They will check your employment via a recent pay stub, and they will check to see if your checking account is open via a recent bank statement, and they may even check that your phone works by calling you to see if they get your voicemail.

Need Rapid Cash Review – What They Do

Need Rapid Cash is not a lender, they just have access to lenders that are looking for new borrowers. It’s sort of a middleman that acts as a go between for the lender and the borrower. You don’t pay for this service, the lender will pay them a commission or a finder’s fee depending on what sort of relationship they have with each other. It’s a very common practice, with the vast majority of payday sites being matching services like this one.

How to Qualify
The first thing that you must have in order to get this loan is a job. You must be currently employed or you must be receiving some form of regular income, which needs to be at least $800 every month. If you don’t have a job or you don’t make this much per month you won’t be able to qualify. Keep in mind that the $500 is the most you can qualify for, so if you make just $800 you will qualify for less than $500.

You have to be an adult, 18 years old at least, and be a US citizen with a checking account. This is pretty standard, and most lenders will have these same basic requirements. Since they deal with so many different lenders they are unable to list all of the requirements that each one has, these are just the very basics that get you in the game.

Credit Checks May Be Performed
Need Rapid Cash notes that some of the lenders in their network will check your credit, so if you are wanting to avoid multiple checks to your credit, which can lower your credit score if there are too many checks in a short time period, then you may not want to apply with them.

There are plenty of other places that do not check your credit, so it’s easy enough to get a payday loan without having them run a credit check. It’s pretty odd that they check your credit since it’s your job that acts as the collateral, and the loan if over such a short period of time that a credit score or credit report shouldn’t have a bearing on whether you get a loan or not.

Our Recommendation
Need Rapid Cash may be a good first step if you are just starting to look for a payday loan, but if you need more than $500 you may want to look elsewhere. There are hundreds of sites just like this one that all do basically the same thing. You fill out one application and they say they’ll put you in touch with a bunch of lenders.

Also, if you don’t want your credit checked, it’s best to find another service that doesn’t go through the process of checking your credit before loaning money to you for the first time.

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