Thursday, August 2, 2012

Can I Get Pre Approved Payday Loans Online?

Thinking ahead to the probability of those unexpected emergencies that crop up in life, it's a good idea to have savings for a rainy day. That's how our grandparents thought about it, and we can all take a lesson from their lifestyle now. But, in the present economy when times are tough and unsecured loans are scarce, one option for gaining peace of mind that you'll have cash for emergencies whenever you need it is pre approved payday loans online. These short term loans can truly bridge the gap for you when you need cash for emergencies.

You can get pre approved payday loans online a couple different ways. The first one is simply being a regular customer of a particular online lender. You will have a history and they will come to know you. That is your best insurance of course. Long before the internet was available for getting quick loans, it helped to know people at your local bank or loan company. The same is true today for lenders online.

If you think you may have need of a payday loan lender in the future, you may want to get established as a regular customer now. Although you will find a variety of choices available online, an overwhelming number of options, really, the best plan is to find one lender and stick with it. None of us likes to think about needing emergency cash in the future, but the fact is we had better think ahead and take care of ourselves. Getting set up with a cash advance lender online is an excellent way to do that.

It's hard to believe, but people without an emergency fund are frequently the same people who fail to plan and simply have no place to turn in case something unexpected happens. Using short term loans as your temporary emergency fund is not ideal. A better alternative is actual cash in a savings account or even stuck away in a fireproof safe at home. But, without access to cash savings the fact is that pre approved payday loans online can help people survive financial emergencies if necessary. When the ideal is not possible, knowing you have access to fast cash can be a real blessing.

Some customers go ahead and fill out a loan application, and some follow up by taking out the loan and some do not. At least all their information is on file with the lender and ready for the right moment when they need some cash at some point in the future. Of the many reasons why payday loan customers may want to get pre approved it will most likely be for emergency needs most often. Nobody likes the thought of having no resources in an emergency, and pre approval is one way to know that you are a few steps ahead in the case of cash emergencies.

The process of completing a cash advance loan application is separate from signing loan documents and accepting a deposit of loan funds into your bank account. You can take the first step only, meaning filling out the loan application, and you can take that step with more than one short term lender if you are so inclined. That way, you are poised and ready to borrow when a genuine need arises. Be sure to ask each lender before you go ahead and complete the loan application, and before you provide your ID, bank and employment verification, too. None of that will be needed if you are simply getting set up with a lender in advance. And, naturally, it will all be required again whenever you are ready to take out a loan. But your preliminary application can't hurt you, and in fact it can help you whenever the time comes for you to do business with any particular lender.

You will discover that qualifying for cash advances online is fast and easy as well as confidential. So get started surfing around the web to find lenders that appeal to you, and don't forget to make sure each lender is licensed to conduct business in the state where you live. That is important, and checking in advance will save you time in the long run. Since you don't have time to waste, look at the About Us page or other page on a lender's site that provides details about the geographic locations served.

Once you know that a particular lender is able to do business with you, you also know that it's a good candidate for you to get started in a pre approval process for your own purposes. Nobody likes to waste time, and most of us don't have any time to spare when we need cash in a hurry. Stepping through the pre approval process is your assurance that you'll be able to complete the current requirements and get your cash ASAP whenever you need it.

Now, don't be surprised if you hear that there is no such thing as a pre approved payday loans online. It all depends on the individual lender and the terms that lender uses for the various steps in the process of loan application. Some lenders may say that they don't technically have a pre approval process, certainly nothing as complex as pre approval for a mortgage loan. That is something most people know about, so they mistakenly believe that a pre approval for quick loans is similar. It's not similar at all, primarily because mortgage loan approvals are based heavily on credit scores, and payday loans don't involve credit scores at all.

Since the terms and the process differs slightly from lender to lender, just make sure you understand exactly what will be needed from you and expected of you wherever you seek loan pre approval. Make sure you find out if that status is only good for a certain period of time, and whether it gives you an advantage at the time of loan application. Get all the details before you go ahead, for your own convenience and also your own protection.

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