Less than perfect Credit Rating? Take Out a Cash Genie Loan

Feb. 23, 2010 - PRLog -- Online short-term loan provider, CashGenie.co.uk, have launched a service enabling customers with a less than perfect credit rating to gain credit from a short term loan lender. This service also allows customers to rebuild their credit rating to obtain further credit or apply for a credit card.

When customers go overdue on loans, submit fraudulent applications, or have a bad credit history often find it hard to receive money from a credit lender. Consumer’s credit rating is explained in this BBC article (http://news.bbc.co.uk/1/hi/business/2963580.stm), describing that “lenders use information from credit reference agencies to assess how well you have handled credit in the past, and therefore how much of a risk they are taking by lending money to you.” All long term bank loans and most short-term loan providers will perform a credit check before loaning to customers. If this credit rating is poor then these companies will not provide credit. Cash Genie, the short term loan provider, provides a fast means of gaining a quick cash advance for people with a less than perfect credit rating. Because Cash Genie does not perform a credit check on customers that apply, the processing can be achieved in real time and cash can be deposited in customer’s accounts the same day.

Taking a loan with Cash Genie can boost customer’s credit rating if the short-term loan is paid back on time, if not then a customer’s credit rating may fall. When customer’s pay the loan back on time, their trust rating increases meaning they can borrow more money with Cash Genie. This positive data can be passed on to credit reference agencies to boost customer applications for credit cards or future loans.
Other short-term loan lenders do a credit check to ensure customers can repay the loan amount plus interest, but because Cash Genie is committed to helping customers rebuild their credit rating, the company only complete checks to make sure customers are employed and can pay the money back on their payday. This makes the whole application process instant and means the money can be deposited in customer’s bank accounts on the same day.

CashGenie.co.uk performs several checks to ensure the company does not lend to people who can not pay it back, however these are not credit checks. The careful customer selection process is for customer wellbeing and safety as Cash Genie do not want customers to get into debt. It is in Cash Genie’s best interest to make sure their clients can pay the loan back to ensure a good relationship is maintained and the company receives the loan payment on client’s paydays. However, it is customer’s responsibility not to take out a loan in the knowledge that they will not be able to pay it back. More information on taking out a loan with Cash Genie can be found at: www.cashgenieloans.co.uk.

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Cash Genie is an online based lender of short-term loans. Our loans range from £75 – £750 and can be deposited in customer’s bank accounts on the same day as the application.