Payday Loans That Don't Use Teletrack

Why do you want payday loans that don't use teletrack? Good question! First, let's look at what teletrack is exactly.

Basically, this is a credit reporting service used, in large part, by payday loan companies. During the application the company will ask for your social security number and use this to check you on teletrack. Different sources will tell you different things about what the reports actually say, but what's important to payday loan customers is that they give your credit history, including any other loans a customer may have that has been turned over to third party debt collectors. They also show when other companies have used the system to check you out. The reason they want to know this is multiple inquiries from other companies tells them that you may have other payday loans that you still owe on. With a bad credit history or multiple unpaid payday loans the company may decide that you are likely not to pay them back and decline your application.

Finding Payday Loan Companies that Don't Use Teletrack

If this is a problem for you, there is good news. Payday loans in general are geared towards consumers with a bad credit history, and a great number of companies don't feel the service is beneficial to their goal, and don't use teletrack or check into your credit history in any other way. Most companies will still, using various methods, make sure you are employed and have a bank account.

It is a common myth that all online payday loans do not use teletrack because it would take them too long. This is simply not true, many of them do. You will know if they do because somewhere on their site they will say. A quick trick is to check their terms and conditions, you can hit ctrl+f on your keyboard and type in 'teletrack' and if the word is found, it probably says they are using the service. You also want to use the same method to search for 'credit check'.

If the application asks for your social security number you want to call the company to ask why if their site doesn't say anything about credit checks.

If you go to a store in person there will usually be signs on the front window or on the service counter about teletrack. If you see no signs, you can simply ask the person at the counter if they do credit checks, or wait until the application and if it asks for a social security number ask why. If they do use the service you can simply say you don't feel comfortable with that and leave the store.

The reason I am not giving the names of specific payday loans that don't use teletrack is companies change their policies often, so don't take for granted if any third party tells you a company doesn't do credit checks. They also change their fees and interest rates, both of these vary greatly from one company to the next, and you don't want to sign up with the first company that doesn't credit check, you want the best loan terms you can find.

I know that when looking for payday loans you are trying to act as fast as possible, but to get your best deal as a general rule you should find five payday loans that don't use teletrack and compare rates. If you're speaking to an actual employee at a company don't be afraid to say something if you found a better deal elsewhere-they'll either say good for you, or offer to beat the competition!