When you need quick cash for an emergency, a cash advance or personal loan can be a lifesaver. You’ll quickly receive the money you need to repay a debt or put yourself back on the path to financial security. Many people wonder if a cash advance will appear on a credit report, though. After all, you’re trying to consolidate your debt with a personal loan or cash advance to bolster your credit score.
What is a Cash Advance?
First, let’s explore what a cash advance is and how it works. There are two types of cash advances. One happens with your credit card, which allows you to pull out cash using the card itself. Most, however, choose the second option for a cash advance, which involves speaking with a reputable lending company and applying for a cash advance. Similar to a payday loan, a cash advance loan is an “advance” on your upcoming paycheck. It’s like receiving your pay a week early, when you need it most, instead of waiting for your employer to move along.
Does a Cash Advance Appear on a Credit Report?
The answer to this question is no.
When you’re in need of a cash advance, time is of the essence. For that, Wise Loan offers an easy application process and a fast decision. You’ll fill in your basic contact information, speak with one of our experienced agents, and you’ll have our decision and your money before you know it. Securing a top-rated cash advance loan has never been easier!