Looking for Quick Payday Loans Without Faxing in Canada? Apply and get short term cash loan up to $1000.

 
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Online payday loans for Canadians offers quick and affordable cash advances with high approval rate through out Canada, select your province / territory to check the availability of cash lenders in your area to apply for a loan you deserve and to receive fast cash direct into your bank account!
This secure application is provided by T3Leads, please remember; payday loan is a "high cost short term credit". Warning: Late repayment can cause you serious money problems. eLoanCanada.com is not a lender and or consultant but an information site that offers resources and news about financial products and services available in the market - affiliate disclosure.

Tag: Credit Check

How Fast You Can Get Payday Loans Canada?

How Fast You Can Get Payday Loans Canada?  Don’t believe on the instant payday loan hype!Don’t believe on the instant payday loan hype! It has been realized that some time desperate money need make people overexcited towards instant solutions consisting superlative claims that may be made by lenders, affiliates and respective sites through their websites, ad space, social media and variety of other online resources that helps them promote their offers; e.g., “payday loans online no credit check instant approval” is such kind of searching phrase that receive thousands of monthly searches made by related and desperate borrowers on one of the best search engine online, it clearly indicates that a person in need is looking to get an instant cash relief, where listings that appeared in top search engine results are those websites or links that has been optimized especially for the said keyword phrase or alike, don’t you think it look like an ATM machine to the desperate people who are looking for an instant payday loans online. That’s not the way payday loan works.

Although unfair, deceptive, and or misleading advertisement doesn’t make the legit lending business look like a scam but it’s not a fair practice and in the light of upcoming changes to the payday loan rules and regulation there is a great need to control and reconsider all the sugar coated promotional language into responsible and factual language that should start using now at TV, newspapers, magazines, classifieds, store display boards, online portals and all the other sources that are used for advertisements.

Payday loan industry has grown rapidly because of fast and high returns to payday lending business, due to its easy accessibility to cover up emergency expenses to the consumers has made it to over grow, larger and larger in due course. As it holds an expensive nature that to be repaid over a short term, or until “payday” has made negative impact on several households and communities that take it lightly and didn’t care to understand; how they can manage it from their next payday in case they don’t get savings accordingly?

Rapid growth in payday loans and other forms of subprime lending has created a great competition among lenders, lead generating companies and affiliates, to get more and more business, these companies are using different form of strategies and sugar coating to their offers to stay up and close to the consumers. To protect consumers, tougher regulation has been implemented in UK, USA, Canada and other countries. The payday lenders have been warned that tougher regulation is on its way, to safeguard consumers.

The Financial Conduct Authority (FCA) shows great interest in “affordability” and proposed that all borrowers should have an “affordability check” before being given a loan. Moreover, among other new rules, the FCA wants to put risk warnings on adverts and marketing material. That’s the reason most of the payday loan lenders and affiliate networks has been sending instructions to their affiliates and members respectively, to ensure that their websites, advertisements and other promotional activities should comply with all applicable federal and provincial laws, rules, and regulations to avoid violations.

Although if you don’t have credit cards then quickest short time financial fix may only be a payday loans Canada that you can use to lift down your financial burden but it should not be considered as an alternative to instant cash where claiming to offer an instant payday loans is not right. As this post is specifically written on the time framework that is an important triggering strategy that strongly make an impact our decision to to apply; here are some of the special instructions that how fair practices should reflects in your content and adverts:

  • Advertisements must be clear, accurate and practical that should not include sugar coating and superlatives phrases; substitute “quick” or “fast” for “instant”; quick or fast payday loans Canada is fine but don’t say, “instant payday loans”.
  • Approved loan funds are available “as early as” or “as soon as” the next business day; do not use “same day”, “next day”, “in 1 hour”, or similar terms.
  • As credit reports requirements may take time and effects approval that’s why correctly state whether participating lenders will perform credit checks or not with credit reporting bureaus or obtain consumer reports through alternative providers and being an affiliate if you don’t know then don’t say, “no credit check” or “no credit check loans”.
  • Moreover, with all these delaying factors, there is also a possibility that consumer may not get payday loan that’s why you should avoid using “100%”, “guaranteed”, or else.

These above are few advertising practices that should be adopted by all the lenders, advertisers, affiliates and members of lead generating networks. Please note, this should not be intended to serve as a substitute for legal compliance, because there are other laws and regulations applicable to affiliates, lenders and advertisers activities that are not covered herein. Beside it just covers an important aspect of payday loans, fast loans vs instant loans; Remember, any references to the time (day/minutes/hours) must be qualified so it’s not a guarantee or promise, and if you’re not a direct lender but a representative or an affiliate then it should also reflects in your content and promotions.

Not Allowed Alternatives
“Get approved immediately [or in 5 minutes]” “Get lender-approval in as fast as 5 minutes”
“Your loan will fund same day [or next day]” “Your lender can fund your loan as soon as the next day”

For more authentic and up-to-date information please consult The Financial Consumer Agency of Canada (FCAC) that offers in depth guide to understanding the cost of payday loans and discuss financial consumer issues to protect consumers of financial services while offering interactive tools, resources, and publications.

How fast you can get payday loans Canada generally depends on the time you apply for your loan at lenders or it’s representing website whether online or physically; weekends, holidays, working days, opening and closing office hours generally effects.

It’s logical to say it quick loans or fast payday loans Canada because there are no other short term loans that can compare fast accordingly but replacing it with an instant payday loans Canada is not right. I strongly advise people who are looking to get payday loans in Canada; you should avoid preferring all those promotions that say instant cash advances and payday loans; because it’s a hype and unlawful, moreover, carefully compare between prior to taking your credit decision “what you need vs what you want”, and always go after financial burden that you can easily afford to repay in full and on time.


How Important Is Your Credit Score?

How Important Is Your Credit Score Canada

How Important Is Your Credit Score

Generally most of the people don’t care about their credit score in the first phase of their life after turning 18; although it’s the perfect time to start thinking about the things that make life easier for them to enjoy the benefits of financial freedom throughout their life. If you start doing it right from the beginning, it’s like you will be building credit history from scratch naturally without spending money, any pressure and or effort on your side. If you are a person that may not using credit cards and use to purchase things on cash and or never get involved in any kind of transactions like buying a house and or getting a mortgage then it can make you think that credit score may not important for you; it’s wrong.

Your credit score not even determines your ability to borrow money, applying for a mortgage or purchase something on credit but it can affect other things of your normal life. Your no, limited or poor credit score adversely affects you in getting a job, taking an apartment on rent and every other things of life which require accessing your level of responsibility. Moreover, it also determines your insurance rates and interest rate you will pay on your credit and loans.

How important is your credit score when applying for a mortgage loan

Buying a house is one of the largest investments that can bring huge savings to the creditworthy class of potential borrowers, as they are awarded with the lowest interest rates. Sub-prime borrowers are those classes of people that hold poor credit history, face high interest rates with less possibility and choices. Your credit score is an important calculating factor when applying for a mortgage loan but lenders may also consider number of other factors such as income, savings, debt-to-income ratio and large down payment from borrowers.

How important is your credit score when applying for a job

In response to your job application most of the employers now have adopted the policy to check your creditworthiness to determine your level of responsibility. Can your credit score affect getting a job? Yes, if your bad credit history makes a negative impact on getting a job then even your no credit profile can make the employers uncertain. Good and or an excellent credit score can help you in getting a job; remember, your credit check through your employer for the purpose of job screening would not impact your credit score.

How important is your credit score when renting an apartment

For all those people without a home ownership obviously go after renting an apartment. After getting your rental application for an apartment the potential landlord will generally run a credit check to see your credit history. Your credit report and credit score will help the apartment owner in determining how responsible person are you in paying your bills, whether you have positive debt to income ratio and your rental history with the previous landlord; if any.

Your credit score Canada is the most important factor that affects your life, your negative credit rating will stop you in many ways to enjoy the benefits of being creditworthiness and on the other hand your positive credit rating will definitely let you enjoy your life without a break, confidence and savings, but it require your continues struggle to not even maintain a good credit score but improve it to an excellent credit score to get more advantage of the system. How to improve credit score fast? Is difficult, as it will take time; For those that hold bad credit score, they should begin improving it without a delay, as there are many ways to improve your score; Credit Repair Canada? Credit repair loans vs secured credit cards, you can get on the right path if followed seriously. The very best and productive thing is your realizing the fact; how important is your credit score.


How To Rebuild Your Credit History In Canada

Looking to improve your credit rating after having bad credit situation due to poor payment history or else, previous insolvency, bankruptcy or consumer proposal. Remember, there is no any quick fix but you can get back on track if you follow the right path. In your situation, the best solution is a prepaid credit cards or a secured credit card that are the easiest to obtain. It can help you to establish or rebuild your credit history, and let you access to credit when you need it.

If you’re a new to Canada having no credit history or if you’re a Canadian citizen trying to rebuild your credit rating for your ruined credit history, it’s not always easy to get approved for a credit card, where secured credit card is an easy to get credit card in all kinds of credit ratings and financial difficulties and its the one you need it to establish or rebuild your credit history. There are plenty of secured credit cards from various banks and non-banking financial companies that are being offered in the Canadian market today. You should be smart in selecting a good secured card as secured credit cards usually require processing charges, application fees and annual fees  where regular credit cards don’t.

Here’s an article that specially selected to reproduce it here from Financial Consumer Agency of Canada to help website visitors looking to get an authentic answer from a reliable source on; how to rebuild your credit history?

Rebuilding Your Credit

Even if you have made money mistakes in the past, you can rebuild your credit history and become a borrower in good standing. It is important to have a good credit history if you want to borrow money. The better your credit report and score, the better the terms of your loans and credit will be (e.g. lower interest rates).

However, you have harmed your credit history and score if:

  • you did not pay at least the minimum balance on your debts
  • you made late payments
  • you went over your credit limit
  • you missed one or several payments
  • you stopped making payments altogether
  • you have too much credit and you use it
  • your debt was referred to collection
  • you made a consumer proposal
  • you declared bankruptcy.

A bad credit report and score can mean you do not get approved for a loan, or you do not receive the best loan terms (e.g. higher interest rate).

How to rebuild your credit history

  1. Apply for a secured credit card. Secured credit cards require you to leave a deposit with the credit card issuer as a guarantee. The deposit is usually equivalent to the card limit, but can be higher. For instance, if you want a limit of $500, you may be asked to leave a deposit of $500. Once you’ve shown that you pay the balance regularly and have built a payment history, you can ask that the security requirement be dropped and that the deposit be returned.
  2. Make at least the minimum payment by the due date. If you cannot pay off your balance in full each month, make at least the minimum payment on each of your debts on time. Late payments will count against you and negatively impact your credit score and credit report.
  3. Do not apply for too many credit and loan products. Having too much credit can also negatively affect your credit report. Keep your available credit at a minimum. Do not fill in too many applications for credit and loans because every time you do, your credit history is checked. Each credit check can affect your credit score.
  4. Review your statements. When you are in debt, avoiding your monthly statements may cost you. Mistakes happen and you only have a limited time to correct them. Always review your statements to make sure there are no transactions charged in error and that your payments are recorded correctly. Report any mistakes as soon as possible.
  5. Check your credit report annually. You are entitled to receive a free copy of your credit report annually from each of Canada’s two credit rating agencies, Equifax and TransUnion. Check your credit report annually for errors and get them corrected as soon as possible.

Prepaid cards do not help you build credit. You may choose to use a prepaid card as a payment option, but its use is not tracked by the credit rating agencies.

Productive Suggestion: Use credit responsibly

“There are no quick fixes to repairing your credit history. You have to prove you are a responsible borrower to lenders, and that may take time. Whether you are rebuilding your credit history, or trying to maintain a good credit score, you should always use credit responsibly.”

Alternate to secured credit cards to rebuild your credit history

How to repair your credit in Canada or rebuild your history? In the past secure credit card is the only option available but now Canadian market is offering another innovative alternate to establish, and or rebuild your credit history is a Credit Repair Loan that also works in bankruptcy and consumer proposal issues beside don’t overburden their customers in relation to high interest rate secured credit cards that ask for the cash “upfront” at the time you receive your credit card. As many of such consumers trying to rebuild their credit may have a difficult time doing so.

Related:


Credit Repair Canada? Credit Repair Loans Vs Secured Credit Cards

Best way to repair credit Canada? Credit Repair Loan VS Secured Credit CardLooking for the best option to get credit repair in Canada in between Canadian secured credit card and credit repair loan? An individual need a good credit rating to get loans on best rates, insurance, or even apply for a job! Credit repairing companies can erase your bad credit rating and help you in getting back your good history. Credit repair Canada have become a big industry, there are plenty of companies offering their services to clean up your credit report for a fee beside you can also use credit repair software that enable consumers to correct errors and inaccurate information in their credit reports to boost their Credit score. Secured credit cards have been used most as a reliable way to erase bad credit and building up good credit history beside credit repair loan is getting attention of various people in Canada who require opportunities that cannot achieved with the secured credit cards.

Secured credit cards have been one of the best dealt credit repair services by most of the people in Canada because these are easy to get and bring up a simple way to build or rebuild a credit rating. Secured credit card application requires a predetermined amount of cash deposit (usually $500.00) where your credit card deposit works as your credit limit against your new credit card (MasterCard or Visa). The lender or a credit card issuing company may increase the credit limit or return the initial security deposit back to borrower on looking at his/her discipline when keeping up good record of regular payments history over a period of time.

Whereas the credit repair loans are concern, these are offered for fixed amounts and time. There are plenty of examples of borrowing to build your credit Canada like getting a loan for a Registered Retirement Savings Plan (RRSP) or a Registered Education Savings Plan (RESP) are good place to start. These kinds of loans are offered usually for a short period of time, until an income tax return comes in beside money stays with the lender (providing them security). As you are saving for your future goals like your retirement or for your child’s education, it will also highlight you are exercising good money habits. It will make your future borrowing easy as you have increased your assets and have developed a good track record like a normal person. As Lendit loan brings great acceptable way of credit repair loan that can offer great advantages to erase your bad credit rating and enhance your credit rebuilding process. Here is how you can compare credit repair loan with the secured credit card:

Credit Repair Loan vs Secured Credit Card
Compare and find solution to get a perfect credit repair Canada!

Title Credit Repair Loan Secured Credit Card
Deposit No deposit required Minimum deposit (usually $500)
Interest Rate 12.99% 14.90% – 19.50%+
Turnaround Time Same day approvals and funding It take time to process paper application (usually weeks)
Credit Check No credit check required Credit check required
Credit Reporting Reports as “I” Instalment Tradeline Reports as “R” Revolving Tradeline
Credit Amount $2,300 to $5,500 sizes $500 to $10,000 (based on deposit)

Source: LenditFinancial Inc., Newsletter August, 2012. How a Lendit Loan measures up…

How to fix your credit? You have to consult with one of a credit repair expert, who can better guide you one of the best program that works for you in your specific circumstances and need or may give you a customise credit repair advice accordingly. What’s the fastest best way to fix credit scores? Credit repair Canada is possible but holds a lengthy process, you have to take strict measures to improve your credit rating and it will take your time and dedication. You will get lot of credit repair companies online and, through television and newspapers claiming to offer you a guaranteed credit fix like “erase your bad debt today”, whereas getting a fast credit repair is impossible because it’s a slow process that require lot of time and effort to get it fixed. Don’t ever consider these kinds of credit repair experts that offer such claims like easy or quick credit repair. Best way to repair credit Canada is that which most of people consider following; while a secured credit card is well recognized tool that people have been using from years to rebuild credit, beside you may also go with the credit repair loan that offer legal, logical and reasonable way to fix and build or rebuild your credit with additional features to build and enhanse your savings and best of all it works for individuals facing critical financial situations like consumer proposals and bankruptcy. Adopt what suits you in your own circumstances and requirements, where Lendit credit repair loan is an enhanced form of traditional concept of borrowing to build your credit which offers faster, easier, more affordable credit rebuilding process that will help in removing your financial worries and getting your normal life back on right track!


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