If you have a poor credit score, you may find it difficult to obtain a personal loan and if you do manage to find a lender who will approve you for one, it may be a lengthy process of interviews, credit checks and faxing over of documents before you see any of that money in your account. But what if you don't need several thousand dollars? What if you only need a few hundred to pay for a medical bill, car repair or some other one-off payment? There is another way and, best of all, it doesn't involve a credit check and is incredibly fast. A no credit cash advance can help you out of a tight spot without tying you down to a long-term loan.
The no credit cash advance was designed to help those who need a little extra cash to see them through to their next pay day. Hence, the terms are short - typically two to four weeks - and because of that, the interest rate is high. Of course, as you will not be paying the interest month after month like in a regular loan, the actual money you pay in interest on a no credit cash advance is not necessarily that high. When you also consider the costs of disconnecting and then reconnecting your power or water if you default on your bills because you haven't the money to pay them, not to mention the damage that will do to your credit score, that interest rate might suddenly not look so bad after all.
As the name suggests, a no credit cash advance is available even to those with no credit or bad credit, which is another reason for the higher interest rates - as the lender has no idea what lies in your credit history, you are deemed a risk. This does mean, however, that most people should be approved for a no credit cash advance. As long as you are over 18, have a steady, reliable income and an open bank account, you should be eligible.