What is easy access credit, and how can I get one?

Posted on Feb. 23 2022 By: Oneblinc 5 min. read

Did you ever have an emergency expense that wasn’t covered by your monthly budget? Have you ever found yourself looking for ways to get a loan while having a bad credit score? Sometimes life happens, and you find yourself in need of fast, easy loans. For these situations, do you know what is easy access credit?

If you wonder “what is easy access credit?” and want to know more about easy, uncomplicated ways to get a loan in a rush, this article is for you! Here you’ll learn how to get these types of loans, and even resources online for anyone looking for one.

What is easy access credit?

When looking for credit and loans, there is variety for all types of purposes and all kinds of borrowers. Some lines of credit might be best for someone looking for long-term or short-term loans. So what is easy access credit? 

Easy access credit refers to short-term loans with almost instant access to money. They usually have more flexible conditions regarding credit scores. These lines of credit are an accessible, less bureaucratic option for people looking for loans.

How do they work?

In easy access credit lines, the borrower gets easier approval for loans as long as they paid them in full, in a short period, by a specific date, which can be short-term or monthly installments, depending on the line of credit.

The upsides of these lines of credit are almost instant access to money and looser requirements for approval, such as not being dependent on credit history or score. As a way to balance the less bureaucratic process, interest rates are usually higher than traditional lines of credit.

What are some types of easy access credit?

Now that you don’t need to wonder “what is easy access credit?” anymore, let’s take a look at some types of easy access credit lines. Any type of short-term, rapidly accessible credit can be considered an easy access credit. 

The most common lines of easy access credit are payday loans, title loans, and overdraft protection. Even the good old pawnshop transaction is considered an easy access credit. Below are some main types of easy access credit loans.

Title loans

A title loan refers to a type of loan that requires an asset as collateral. For this line of credit, the borrower gives a title of property as collateral. The property can be a house, land, car, or vehicle. The title stays in the lender’s possession until the borrower repays the loan in full.

This line of credit doesn’t require a credit check and has more flexible requirements. As a result, a title loan can be quickly approved and lets the borrower get fast access to money.

Overdraft protection

As a common line of credit for checking accounts, overdraft protection lets you pay for purchases when you don’t have the balance in your account. It’s a way to take off the stress of thinking about your funds every time you make a purchase. 

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This type of loan works similar to a credit card: you have to pay it off each month for it to become available again. Their interest rates are usually lower than credit cards.

Payday loans

Payday loans are a line of credit based on the borrower’s paycheck. The loan is taken out with a guarantee of it being cashed on the next paycheck. For this reason, it’s also based on income.

This is a short-term line of credit: the borrower gets the money fast and pays it off in one lump sum, usually in no more than 30 days. This type of loan doesn’t require a credit check, making it an option of loans for bad credit

There are many resources at OneBlinc for anyone looking for a payday loan — we even have special conditions for government employees!

When should I get an easy access credit?

One’s monthly budget can sometimes take a hit by unexpected expenses, such as personal emergencies, medical expenses, holiday festivities, or just putting your monthly budget in order. Whatever the case be, life happens, and you might need money fast, so getting a short-term loan may be a good idea. 

Because these lines of credit are targeted at individuals in need of fast money, you should always be on the lookout for predatory lenders. Always check the lender’s reputation and make a conscious decision to choose a reputable company!

How can I get easy access credit?

You don’t need to go to your local pawnshop to get easy access, short-term loans with no credit check. Because they’re short-term, easy access credit lines aren’t based on credit history.

Loans are available for anyone looking for help to overcome challenges in their personal and financial life. Even if someone doesn’t have the highest credit score, they can find options. There are some options for everyone looking for a loan.

As loans are available to make your life easier, information and resources are also easily available. We offer a series of options for anyone looking for resources for loans online

Check out our services at OneBlinc! We have a team of experts to help you find the resources you’re looking for and choose the best option for your specific financial needs.

About us

Unexpected things happen more often than we would like them to. That’s why OneBlinc is here to help, whether you have an emergency or just need that extra cash to go through the end of the month. We believe in people, and we understand that everyone might need money someday, somehow.