Payday Loans in San Diego
Payday loans in San Diego work differently than most loans because your job and salary can take the place of a high credit score to guarantee repayment. The loans are meant for short-term cash needs and are usually repaid after you receive your next paycheck. In some cases, longer repayment periods and installment payments can be arranged. When you need emergency cash to tide you over until your next payday, these loans can be literal and figurative lifesavers. You can apply today!
|Short Term Personal Loan||$15 fee|
|Bounced Check||$32 fee|
|Late Credit Card Payment||$37 fee|
|Late Utility Bill||$46 fee|
*Based on $100 loan or $100 balance on existing accounts. This shows average fees – your rate may differ.
Don’t Get Caught Short
If you have bad credit, most lenders just give up on you as if you weren’t a real person with needs. It’s almost as if you didn’t exist because you’re dead to these financial institutions, but credit card companies don’t have the right to determine your worth on the basis of an artificial credit score. Payday loans in San Diego gives you the ability to borrow against your job and next paycheck. If you need money today to fix your car so that you can get to work, you can get the money today by visiting a payday loan office or applying online and getting the money deposited into your bank account.
Bad Credit Loans for People with Real Problems
Real people in real-world situations often don’t have perfect credit scores for many reasons like emergency financial obligations, unexpected mechanical disasters, illnesses and child-related expenses. Payday loans in San Diego are designed for people like you who worry more about other people than maintaining their own credit scores perfectly. Although it’s true that bad credit loans cost more than loans from banks, that’s because these loans are approved more quickly and more often than loans from traditional lenders. If you use these short-term loans responsibly, you can rebuild your credit and have access to cash when you need it.
Interesting Facts About Payday Loans
“Nothing succeeds like success” is one of the world’s greatest truths, and payday loans have become part of U.S. and global culture. People want and need these loans for cash emergencies because not having access to money could result in terrible consequences like losing a job, getting utilities cut off or generating late fees and higher interest rates. Some other interesting facts about getting a payday advance in San Diego include:
- Nobody gets a great credit score without spending hundreds or thousands of dollars in interest charges over a period of years, but bad credit loans short-circuit this drawn-out process by providing cash immediately.
- More than half the countries in the world offer payday loans due to meet consumer demand for this service.
- The first modern payday loan companies opened for business in the 1990s, but credit card companies have earned billions in interest since the 1940s and banks have earned trillions in interest since biblical times.
- Payday loans can help people with bad credit rebuild their credit scores.
About San Diego
San Diego enjoys some of the world’s best weather and stunning beaches from La Jolla to the Baja Peninsula. Residents live healthy lifestyles, and many fitness programs film their episodes in San Diego’s breathtaking ocean-adjacent settings. Residents can enjoy outdoor activities, the celebrated zoo and aquarium and the city’s charming Gaslight District and downtown trolley. You won’t even need to stop what you’re doing to get payday loans in San Diego because you can apply right from your phone, tablet or laptop and get a quick approval online.
APR: The equivalent annualized percentage rate for payday loans and other short-term installment loans ranges from 547.5% to 999.45%, based on the amount and the length of the loan. Larger loans with longer payback periods have lower interest rates. While this sounds large, one must consider that these loans are only meant to be for a very small time-frame, usually 2 weeks. Annualizing other fees in the same manner results in APR of 2336% for a returned check fee of $32 against a $100 check, a 965% fee against a $37 credit card late fee or over the limit fee, or a 1203% APR for a typical $46 reconnect fee by a utility company.
Financial Implications: Short term payday loans are meant to be just that: Short term. Typical fees range from $15 to $40 for every $100 borrowed up to $500.00. Fees per $100 begin dropping on loans larger than $500.00. Fees are typically less than what borrowers can expect to pay for bouncing a check, having a utility disconnected, or paying a credit card bill late.
Collection Practices: If a loan becomes delinquent, attempts at collections are first conducted internally, primarily through telephone, an attempt to work out a pay-off arrangement that takes into strong consideration the financial condition of the borrower. If, after all attempts at internal collections have failed, the lending agency may send the loan to a third party collection agency in an attempt to recover the funds lent in good faith.
Credit Score Impacts: Short term, payday loan lenders may rely on your credit report and are not limited to any of the three (3) major rating agencies – Equifax, Experian, or Transunion. Generally, the borrower doesn’t have to bear concern that their score may be affected by having the loan request determined by results from these agencies, however, such determination is solely in the discretion of the payday loan lender(s), which may result in the lender(s) submitting, among other things, the borrower’s request for the loan, or the subsequent payment(s) under the loan to any of these agencies. Short term lenders may also rely on their own scoring criteria, which is generally based on income and ability to repay, as well as the borrower’s payment history of any previous payday loans that have been made with the lender in question, or with other payday lenders.