Overview of Cashusa.com
Cashusa.com acts as a marketplace for lenders and borrowers, facilitating personal loans for individuals with bad credit. Although it isn't a direct lender, it can provide a bad credit loan without a hard credit check.
Pros and Cons
Pros:
Loan amounts range from $500 to $10,000.
All credit types are accepted.
Funds can be received as soon as the next business day.
Available online 24/7.
Cons:
Cashusa.com is not a direct lender.
There may be high APRs.
Bad Credit Loans Guaranteed Approval $1,000
Cashusa.com offers a platform for lenders and borrowers to connect, making it possible to secure a personal loan even with a bad credit history. However, it's crucial to note that interest rates and repayment terms vary among lenders. While approval is not guaranteed, Cashusa.com provides opportunities for those struggling with bad credit.
Annual Interest Rate (APR) and Fees
The APR on Cashusa.com ranges from 5.99% to 35.99%, depending on your creditworthiness. Unlike traditional lenders, Cashusa.com allows individuals with bad credit to apply for personal loans.
Minimum Credit Score Required
According to the CashUsa website, no specific credit score is required. Applicants can submit their information, including personal and banking details, with a minimum credit score above 500 to qualify for a personal loan exceeding $1,000.
Offered Loan Amount
Cashusa.com provides personal loan amounts ranging from $500 to $10,000. However, those with a credit score below 500 may not qualify for loans exceeding $1,000.
Eligibility Criteria and Required Documents
Before applying for a bad credit loan, applicants must meet certain criteria, including being at least 18 years old, having a valid ID, being a U.S. citizen or permanent resident, and maintaining a post-tax income of over $1,000. Required documents include valid identity proof, date of birth, current mobile number and email ID, an American bank account, and a social security number.
Repayment Terms
Cashusa.com offers repayment terms ranging from 3 to 72 months. Before accepting any loan agreement, it's crucial to thoroughly read and understand all associated expenses.
Example Loan from Cashusa.com
For instance, a $5,000 loan over 36 months with an 18% APR would result in monthly payments of $179.35, totaling $6,456.68.
How to Apply for Cashusa.com
To apply for a loan on Cashusa.com, follow these steps:
Visit cashusa.com.
Enter your zip code, social security number, and date of birth.
Provide information about the loan amount and reason.
Submit employment and banking details for fund deposition.
Your form will be reviewed and sent to lenders.
Lenders will offer a personal loan proposal.
Conclusion
Cashusa.com is a user-friendly platform enabling individuals with poor credit to secure personal loans up to $10,000. The straightforward process, secure website, and 24/7 availability make it a convenient option for those in need.