Credit Checks Tips

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What is a no-teletrack loan?

No Fax and No Teletrack Loans

A no-Teletrack payday loan involves a bad credit payday loan or no credit check payday loan that does not run any check for verification at all. All you need is to simply provide some sort of state-issued ID, such as a driver's license, to secure the payday loan. While this may seem attractive at first, it could also involve dangers. Essentially, by not performing a Teletrack check, the company has no idea of your previous payday loan history (if it exists). By not checking, they assume the worst and plan for it with higher than normal interest rates and fees, penalties and other hidden costs.

Companies that offer no-Teletrack payday loans are more likely to be illegal, potentially using your information for identity theft or other practices. It is best to avoid these companies. With, we've assembled reputable companies that require this basic background check. Unless you have something to hide, this should not be a concern for you whatsoever. also offers the convenience of helping you acquire a payday loan through a no fax payday loan process. You won't have to worry about faxing in forms, as most of our companies will accept information through us right over the Internet!

How can I find my credit report and score?

Arming Yourself with Knowledge: Your Credit Score

Relax. You're not the only one out there with less-than-perfect credit. Bad credit payday loans are more common than you think. They offer a quick and simple alternative for emergency cash needs. Plus, payday loans are essentially unsecured bad credit loans. Most lenders do not require credit checks. However, you should always be aware of your credit report and score.

In fact, you are entitled to a free copy of your credit report from each of the three credit reporting agencies (Equifax, Experian, and Transunion) every 12 months. You can go online to or call 1-877-322-8228 to request reports from each agency. You'll have to put in some basic information for verification to each agency to receive your report. It will then be available online for 30 days for you to review, print out or dispute items.

If you wish to see your credit scores, those will cost you anywhere from $5.95 to $7.95 per agency. But it is good to compare these and track them. Scores range from 300 to 850. The higher your score, the better your credit and the more likely it is you'll secure loans, credit cards, purchases, etc. Although not required for a payday loan, this information is vital for your own personal financial planning and knowledge.

How can payday loans affect my credit report?

Payday Loans and Your Credit Report

While a credit check is often not required when applying for and receiving a payday loan, there are some companies that do use this option. There is also the potential of harming your credit if you are not responsible with repayment. We cannot stress enough the importance of repaying your payday loan on time. Those who are not fiscally responsible tend to fall into a vicious cycle that could harm their credit scores. Here's an example.

Let's say you're applying for $500 from a payday loan provider. You give them a check to guarantee the money at maturity. They give you the $500 (minus set fee/interest) and you're off to take care of that emergency. But what happens if you do not have sufficient funds to cover your check at the time of maturity? You could suffer overdraft fees from your bank and possibly multiple overdraft fees as the company will continue to run the check through again and again until it cashes. Of course, you can go back to the lender and pay the fee again to extend the loan, but you are then compounding the problem. That lender, as well as the bank, can report your financial activities to credit bureaus, harming your record and score.

What should I beware of with payday loans?

Three Things to Watch for with Payday Loans

When applying for a payday loan, there are three things to keep an eye out for.

High fees and interest. Payday loans can be very helpful in a jam, but keep an eye on the fees. Depending on who you get your loan from, you may face very high interest rates and fees due to the short term of the loan. Paying annual percentage rates as high as 5,000 percent or higher is not unheard of in the payday loan spectrum. However, at, we keep you from being caught by these exorbitant fees by only putting you together with payday lenders that charge reasonable fees and interest.

Limited time of repayment. No matter where you go to get your payday loan or credit advance, you must be prepared to pay the money back quickly, typically within two to four weeks. If your check does not go through at that time for the amount, or something else happens that keeps you from repaying, you could face further fees, collection and more. If you know you will not have the money to repay the loan in time, you should think twice before securing it, considering the penalties.

Credit checks. Many have asked the question as to whether or not there is a credit check involved with payday loans. Most payday lenders usually do not check your credit, but there are those that do. A credit check can show up on your credit report and could potentially affect your score. No matter what type of credit situation you're in, it should have no bearing on your ability to secure a payday loan. If they do ask for a credit check, it could very well be a scam, perhaps for identity theft. That's why you should use We've brought together the best programs in order to give you easy access to those that are legitimate and safe.

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Kristle Jones