Payday loans in Sacramento are available through online lenders. Unexpected expenses pop-up.
Whether you need a car repair or extra cash for a utility bill, payday loans in Sacramento are designed to offer quick solutions to unexpected financial needs.
Payday loans in Sacramento can be processed online just as fast as in-person. Save the travel time by applying online.
There’s no getting around the fact that payday loans are an expensive type of personal loans, but if you don’t have access to traditional bank loans or credit cards because your credit score your options are limited.
Payday loans in Sacramento provide a short-term loan to tide you over until you can get back on your feet. Just make sure you carefully review the contract and limit repeat loans.
Best place to get payday loans in Sacramento
Direct lenders licensed in the state of California offer the quickest and safest way to get payday loans in Sacramento. It’s a win-win for borrowers because it means there’s no need for a middleman in the loan process.
Payday lenders licensed in the state of California are subject to state-specific laws and regulations, in addition to federal regulations.
In fact, California has very specific rules designed to protect California consumers from predatory lending and other fraudulent practices. California limits the maximum loan amount to $300 and the maximum fee a payday lender can charge is 15% of the face amount of the check (up to a maximum of $45).
Requirements for payday loans in Sacramento
Each direct payday lender has their own requirements but here are the basics for most borrowers:
Age: 18 years of age is typical for most payday loans but some lenders require you to be 21 years of age.
Income source: Prospective borrowers must have a recurring source of income in order to be considered. But this does not mean you must have a regular job. Even if you don’t have a regular job, you may still have a recurring source of income if you receive regular payments from the government or from another source.
Checking account: You must have an open, active checking account and be able to accept EFT deposits (electronic transfers).
Not active military: Payday loans are generally not extended to active members of the military at this time, nor can we extend a loan to you if you are the dependent of an active member of the armed services.
Phone number: We require a phone number that takes incoming calls.
Email address: We also ask you to provide an email address so we can send correspondence related to your application and loan if applicable.
Contact information: Borrowers must provide a current address and other current contact information.
Direct Lenders for Payday Loans in Sacramento
Check Into Cash is a direct lender based in Cleveland, TN and founded in 1993. Check Into Cash provides customers with short-term, small dollar credit solutions. Payday loans in Sacramento from direct lenders offer a safer way to borrow money. You don’t have to worry about your financial information ending up in the wrong hands.
Check Into Cash offers payday loans in Sacramento in addition to having 1,100 stores in 30 states. Within 60 seconds or less you will know the results of your application submission.
Check Into Cash Payday Loan Details:
The application only takes 5 minutes and you can be approved instantly.
- Active checking account open for at least 90 days
- US citizen or permanent resident
- Be at least 21 years of age
- You must have a regular source of income
- Have a current home/cell and work phone number
- Have a valid email address
Apply for payday loans in Sacramento, get approved in minutes and have cash in your account overnight. You even have the option of having cash deposited directly to your debit card.
Check Into Cash makes the online payday loan process simple and easy.
- Application. Complete the application online.
- Get approval. Read the loan contract and sign the contract to receive your loan.
- Get your cash. Funds will be deposited into your bank account as soon as the next business day.
- Repayment. The original loan amount and all fees and finance charges will be debited from you bank account on your next payday.
Alternative to payday loans in Sacramento
Payday loans in Sacramento are not your only option for fast cash. While these types of loans are generally easy to qualify for, they do come at a high cost.
According to the Center for Responsible Lending, “these small dollar loans carry average annual percentage rates of 391% that make it very difficult to escape a cycle of debt that can last months or years.”
If you’ve taken out payday loans in Sacramento, you’ve probably noticed a pattern. You take a a short-term payday loan but end up in the same financial state you started out with. Even worse, you enter a cycle of debt that has you repeatedly borrowing from payday lenders.
Bad credit makes borrowing more difficult. Bad credit personal loans are more expensive than borrowing with good credit. It may seem counterintuitive that lenders charge higher rates for bad credit borrowers but from a lender’s standpoint, more risk equals higher rates.
But a personal loan may be a better option than a payday loan, even if you have less than perfect credit. Personal loans for bad credit may cost you less money in the long run plus you can borrow a higher amount of money.
And, unlike payday loans in Sacramento, responsible repayment history can lead to better credit. With long-term personal loans, payments are typically to the three major credit bureaus. In the end, this can result in an improved credit score.
Online direct personal loan lenders can process your application just as quickly as lenders for payday loans online. In fact, in some cases you can have the funds you need by the next business day.
Here are a few benefits of online personal loans:
- Personal loans come with the option of longer repayment terms. You can pay your personal loan off over a few years instead of a few months.
- Monthly payments are more manageable.
- Fewer fees involved with loans.
- You can borrow more money than with payday loans.
OppLoans is a direct lender based in Chicago, IL and founded in 2009. OppLoans provides customers with online loans for bad credit that can help improve credit. Applying takes no more than a few minutes to complete, and you can find out if you’re approved instantly after submitting your application.
- Good credit not required. Minimum credit score required is 300.
- Loan amounts up to $4,000.
- Checking account and direct deposit required.
- 99%–199%, varies by state.
- Repayment terms range from 9 to 36 months.
- OppLoans charges a loan origination fee of 0% to 3% of the loan amount.
- OppLoans does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.
- Get funds fast. Applications that are approved before 7:30 p.m. EST can be funded as soon as the next business day.
Tips to improve credit scores
Improving your credit score is important. What you do now determines your future. When you’re trying to get a mortgage or a car loan, credit score determine the loan rates you are eligible to receive.
As your credit improves you will essentially save money on credit cards, personal, auto or mortgage loans by obtaining a lower interest rate from lenders.
Installment loans add to the types of credit you have in use. Credit mix determines 10% of your credit score. Installment loans are personal loans, auto loans, mortgage loans, home equity loans and even student loans.
Installment loans have the potential to demonstrate creditworthiness. With lenders reporting payments to the major credit bureaus, you have an opportunity to improve credit scores with on-time loan payments.
Factors in your Credit Score
Payment history (35%).
This is one of the most important factor in a credit score. Paying all obligations on time.
Amounts owed (30%).
How much you owe on credit cards tells a lender if you are high risk for default.
Length of credit history (15%).
The longer a credit history the better for your credit score.
Types of credit in use (10%).
You need a good mix of credit cards, retail accounts, installment loans, mortgage and auto loans.
New Credit (10%).
Opening too many accounts in a short period of time will hurt your score.