But having a brief history of a current cash advance does not always mean a computerized “no”.

But having a brief history of a current cash advance does not always mean a computerized “no”.

The overall blue trust loans loan view for the credit reporting agencies is where a lender doesn’t like borrowers to own an online payday loan they are going to demonstrably be viewed in a light that is negative.

But where these are generally less worried about the current presence of a cash advance, really having one and paying it back on time could be a positive element, as James Jones, mind of customer affairs at Experian, claims in reference their box-out comment. It is because it might show borrowers can handle checking up on payments.

“The proven fact that a person has had away an online payday loan at any point really should not be necessarily regarded as having an impact that is negative their credit rating providing, as with some other credit contract, they usually have held up with re payment terms,” says Equifax outside affairs manager Neil Munroe.

Mark Nuttall, senior planning that is financial at western Midlands Mortgage Centre, highlights the inconsistent nature of the means loan providers see pay day loans.

“i did so have a customer whom was refused because he’d utilized pay day loans,” he says.

“However, ever since then, we have experienced a customer with one cash advance that had simply fine. Continue reading “But having a brief history of a current cash advance does not always mean a computerized “no”.”