As stated by the National Retail Federation, Americans spend up to $859 billion to buy gifts, holiday items, and other stuff. This number shows that people are ready to spend cash on many things including during Christmas time.
But this number doesn’t include people who are in financial need at the moment, or face some troubles and money lack. Even if they do not have enough funds, they are striving to celebrate this event. Many people find a way out in Christmas payday loans in Oregon.
Let’s consider what are holiday payday loans and puzzle all the details out.
What are Christmas payday loans?
A payday loan is a short-term loan that will provide you with the choice to cover expenses for a joyful and merry Christmas. It will help be out of the financial stress burden. It is just easy as possible to issue an online payday loan for Christmas up to $1,000 even in comparison with the whole year situation. The process is simple: visit the lender’s website, decide on the amount you would like to borrow and the loan’s term. After that you complete your application and submit it online. The lender will send you an offer shortly possible. Besides, there are many offers with lower rates that help future borrowers spend this funds for gift for yourself and your close people.
Let’s see where Americans in New Work may buy gifts. The list includes:
- Silverton Christmas Market
Oregon Garden Resort, 895 W Main St, Silverton, OR 97381,USA - The Village Green Christmas Market
725 Row River Rd, Cottage Grove, OR 97424, USA - Holiday Bazaar Christmas Market
Sunnyside Grange, Corner of SE 132nd & Sunnyside Rd. - The Golden Evening Makers Market
3316 N Williams Ave, Portland OR 97227, USA - Portland Night Market
100 SE Alder St, Portland, OR 97214, USA - Oregon City Tree Lighting & Holiday Market
Liberty Plaza Main Street Oregon City, OR, 97045, USA - Nordic Christmas Market
777 NE Martin Luther King Jr Blvd., Portland, OR - Walmart
3721 Navarre Ave, Oregon, OH 43616, USA (one of the address)
This list is no way complete. Search for other places if you do not find gits you need.
Things to consider when submitting an application for a holiday payday loan
How to get pre-qualified
Lenders may be used as an assistant in prequalifying for a Christmas loan. This doesn’t affect your credit score either positive or negative. Multiple prequalifications might help you limit your lender options. But the qualification requirements to 100% get a loan, every borrower should meet the following:
- be a minimum 18-year-old permanent resident or US citizen;
- have a monthly income;
- an active bank account whose details we shall need;
- a verifiable contact number and email address;
- be employed in the last three months.
Fixed installments
Christmas loans with fixed monthly payments will be easier to pay back. You can organize your budget if you pay monthly installments over a prespecified period of time. Keep in mind, before applying for a Christmas payday loan, it makes sence to spend some time and compare offers from different lenders. Some lenders offer loans with 0% interest or a reduced rate. Such offers are the ideal solution to any emergency case, being a car repair or a purchase of a Christmas gift.
Interest rates
Payday loans may offer cheaper interest rates than credit cards depending on your credit score rating. Such lending options are a terrific method to avoid paying for Christmas goods and save money on interest.
Every borrower can get fast cash by finding an internet lender. You might get approved and receive your loan within 24 hours frame. This will make it easier for you to arrange your holiday.
What are the benefits of getting a Christmas loan?
Advantages of this financial option are:
- high decision—making speed – banks reduce the time for reviewing applications, but at the same time the waiting time for a response remains long. People don’t like to wait long, so such financial products remain in demand, programs check a potential borrower within 5-10 min from the moment of receipt of the application;
- instant deposit of money — the assesstment of the application may be longer if extra documents are required, but the transfer of money after approval is carried out without delay. The amount will appear instantly on your bank account or bank card. In rare cases, the transfer of money may take up to 3 days. Be sure to have time to issue a loan and get Christmas gifts;
- applying from anywhere — the Internet simplifies life, it is more convenient and faster to submit an online application, filling out the questionnaire will take no more than 5 minutes;
- the possibility of issuing money to a client with a spoiled/bad credit history — in times of crisis, banks more strictly select borrowers, issue loans only to regular customers. Many receive a refusal to issue funds. Online lenders willingly transfer money to customers with a bad credit history, laying the risk of non-repayment in interest for using the loan. They approve loans not only on holiday but all the year round.
If I have a bad credit history, will I be approved for a christmas payday loan?
You still have a chance to issue a christmas payday loan, if your credit score is spoiled. The reason is that banks and financial organizations independently make a decision on issuing a loan in accordance with their internal procedures and lending policies. Each lending service has its own criteria for assessing credit history. As a rule, if a person has been overdue for over 90 days, then he is a troublesome customer for any lender.
But in any case, if you have any problems with your credit score, do not worry you still have a high chances to issue even a small financial product.
Christmas is an ideal time to improve your credit rating. It will help avoid many problems in the future. Use this option as a christmas gift.
Citizens who currently have no problems with financial discipline should still take care of the credit history.
To do this, you need to follow a few simple rules:
- Payments on all your loans should not exceed 30% of the budget.
- Create a reserve of money in the bank account so that this amount can cover all your expenses for a period of 3 months or more. This is necessary in case of temporary job loss or unforeseen situations.
- Try to optimize your expenses, including servicing loans, for example, to refinance them in case of a rate cut.