People with good credit and high credit scores will not be looking to find a cash advance to help with emergency costs. These people will have a savings account or spending room on credit cards to make their budgets work each month. Having a high credit score does not mean an individual does not have debt. In fact, debt is a requirement to obtain a high credit score.

A cash advance is a no credit check loan.

While most creditors will check that score as one of the first steps to obtaining the application, a cash advance lender will not look to see how you handle your past finances. These lenders will check your current bank account. It is known fact that no matter what income level you are, there are bad financial circumstances that cannot be averted. Instead of judging the past, a cash advance online approval will more than likely come with a healthy bank account. Interpret healthy as an account with no NSF charges or overdrafts. There is direct deposited paychecks and no signs of multiple short-term loan usage at the present time.  A good lender will not want to loan to an applicant who has more than one active payday loan or cash advance. Taxing someone’s wages with multiple heavy payments is not best practices. It is one of the more common problems of unsuccessful short-term loans usage.

Use a cash advance wisely – less is more.

Emergency costs are uncontrollable at times, but how often you apply for a short-term loan is manageable. People who use them throughout the year for non-mandatory payments are wasting their money in fees. Their convenient online application method with a quick cash advance deposit into your bank account, makes them more attractive to people looking for money in a hurry; especially for those with poor or no credit.

People with good credit will have other money opportunities to utilize during a financial crunch. Most people with really good credit will have:

• An average of 4 out of 7 credit cards with about 7% of the available credit limit outstanding.
• Make on time payments most at least 96% of the time.
• May have one collections listed but no more than one.
• Payment records will show that at minimum payment 100% of the time was paid each month for the length of time reported.

A cash advance wants to see a bank account managed well.

A good credit score isn’t  just about debt, but how well you manage it. Good credit is also built when different kinds of debt are reported. Home mortgages or car loans will help improve a credit score as long as they are managed well. Credit cards show a different type of debt, revolving debt. The monthly payment amount varies with usage. Managing credit card debt is a fabulous way to improve your credit score. Improving a score will take some time. You will need to keep negatives out of your budget in order to see it go upward and onward.

An online cash advance does not help credit, it cannot solve debt problems, but it can get money into your bank account pretty quickly if you have an emergency financial situation. Default on your loan so it is sold to a collections agent, your credit score will go down once collections reports the debt as a default on your credit history.