One of the most obvious concerns for any loan customer involves determining the proper amount to borrow with a personal cash loan. This doesn’t have to be a mystery, though. We have some general guidance, but you can also learn more by speaking to us when you apply online through Cash Link USA.
Personal Cash Loans from Cash Link USA
We offer three loan types to clients in the Midwest and Southeastern United States.
- Personal Loans
- Installment Loans
- Personal Lines of Credit
The borrowing limit depends on which you select, how much income you earn, your credit score, and a few other factors. Some of these loans range from just a few hundred dollars to significantly higher. Borrowers use them to pay for medical expenses, automotive purchases, home improvements or renovations, and even operating a new business before it becomes profitable.
In general, your chances at a higher amount improve with timely payments and not going past 30% of your credit limit. Here are a few other things to consider if you want to expand your credit worthiness.
Important Factors that Influence Personal Cash Loan Amounts
We encourage you to re-read our earlier article on the primary factors that determine your personal loan amount. There we identified five core components that affect loan value:
- Credit Scores
- Debt-to-Income Ratios
- Employment History
- Collateral Options
- Loan Types
The first two relate to how well you make payments, how much debt you can handle, and whether you have a strong reputation of managing multiple accounts. Then when you consider employment history, lenders prefer a consistent one with higher income, which makes you less of a credit risk.
Although Cash Link USA doesn’t focus on collateral much, there are some lenders who offer pawn loans and other credit based on what you temporarily trade for collateral. It’s also possible to qualify for higher loan amounts if you have a cosigner join you on the loan application.
Finally, the loan type will dictate terms as well. Traditional bank loans are much harder to obtain than what we offer. Cash Link USA gives you the chance to borrow and repay smaller loans, and gradually qualify for larger ones.
Don’t Give into Credit Card Companies
Unfortunately, we encounter lots of sad stories of folks who cannot get the loan amount they’re after, only to chase after lousy credit card terms. Those companies lure people into entrapment with teaser rates, variable rates, and other “too good to be true” deals. The adage of “buyer beware” can quickly turn into “borrower beware . . . of rotten credit card scams.”
Don’t forget that the average American credit card debt total has risen to about $9,000 in 2022. That’s a big difference even compared to just 20 years ago, and it reflects the need to revise our approach to money. Cash Link USA’s mission is to help you rebuild and remedy your finances, and not fall victim to scammers.
Cash Link USA: Helping You Get the Loan Amount You Need
If you’d like to avoid the dangers of credit card abuse, then we hope you’ll consider a smarter alternative like installment loans, personal loans, or personal lines of credit. These are an outstanding way to consolidate other debts, cover emergency expenses, and get out of trouble.
Our core values are simple: convenience, transparency, and your financial well-being. Plus, whenever you use our services, you can depend on the latest in personal information security. We know that identity theft is a genuine threat, which is why we safeguard everything from the moment you begin your credit application.
Contact us today to find out how much can qualify for when you take out a personal cash loan with Cash Link USA.