What are no teletrack payday loans?
No teletrack payday loans are a common type of payday loan. The distinguishing factor with them is that requesting a loan does not include the use of specialized teletrack systems. Teletrack systems are used by virtually all traditional lenders like banks and credit card companies. The teletrack systems obtain your hard credit scores from the 3 main credit bureaus.
Many people do not want a lender to use these systems because they can hurt your credit score even if you are not approved for the loan.
Payday loans from direct lenders do not use teletrack systems. This is because more than 50% of applicants have poor to bad credit. Instead, direct payday lenders use formulas related to very recent and upcoming income from a prospective borrower as the primary determinant.
Of course, payday loans should be a last-minute solution to difficult money situations and not as an everyday financial tool. The high fees for these loans make them more expensive than traditional lending.
Can no teletrack payday loans help the borrowers cover emergency expenses?
There are some possible benefits to using no teletrack payday loans from direct lenders. Here are a few:
No credit check - Direct payday lenders do not check your credit history using teletrack systems. So poor or bad credit history is not an obstacle to potential approval. Your direct lender does not perform a hard credit check.
No faxing - Faxing is not required with the best no teletrack payday loans. Everything is done online, from the application to the repayment. And the process is exceedingly fast; typically, it only takes 5 minutes to request a loan and get an answer.
100% secure - All your sensitive personal information is secured using SSL encryption technology.
No upfront fees - Direct lenders never charge upfront fees. All loan costs are part of the loan and are detailed by your lender during the process.
Are there no teletrack payday loans with guaranteed approval?
The answer is NO. No lender can guarantee approval of any loan without reviewing your specific information.
Where to get no teletrack payday loans?
CashOne has been a long-term provider helping those in need of emergency cash. Open 24/7 and 365, CashOne has assisted many Americans with no telecheck payday loans.
You can learn more here: https://www.cashone.com/no-teletrack-payday-loans
Robin Williams is an Executive at CashOne, which serves to connect consumers across the U.S. quickly with its authorized lender network for payday loans online. Robin has more than 20+ years’ experience in Administrative Management, with several years in the lending industry.