Cash advance has become a popular financial choice as more and more creditors are now offering it. This loan provides quick financial solution for considerably small and short-term financial needs, or even on just trying the make the ends meet. However, those people who have made cash advance a habit thought that their cash advance is certainly hurting their credit score. If you’re suffering this kind of dilemma, then you are in the right place, as this entry will explain the relationship between of cash advance and your credit score.
To clear things straight, financial experts say cash advances will NOT affect your credit score at any way. Lenders offering this type of loan will not check your financial background information, which is quite the cause of credit score drop. But because there’s no need for lenders to check your credit history for cash advance, then there’s nothing you should worry as it can’t impact your overall score.
Agencies doing the credit reports can’t determine your applications for cash advances, as most companies that provides cash advances don’t really check credit history of the applicant. The only thing they consider is if you’re capable of paying your loan. Having a stable source of income of course, is good collateral for this kind of loan.
The bottom line, there’s really no need to worry about taking a cash advance, this is why many people are taking advantage of this kind of loan to settle their financial responsibilities, especially the bills that are growing from interests and emergency situations.
