Question
Cash Advances- Do they build credit?
I manage a cash advance place and have never heard of cash advances giving you credit, until one customer came in and said his credit sky rocketed for doing them.... is this true?- do cash advances really help you bulid credit?... i guess it makes sense since it is like a short term loan you have to pay back..... but i have never known either way.. does anyone know the answer to this?. Thanks, Mark... But I do not need a cash advance.... nor do i want one, i WORK at one, and just had a simple question..
5 months ago - 0 answers
Best Answer
Chosen by Asker
This question is a double edged sword. Yes as long as the payday loan places report to the credit bureaus technically it doe's raise peoples scores. But when lenders look at someones report and see that they have been existing on payday loans it reflects badly on their ability to manage their money. I have seen lots of people turned down for car loans for this very reason.
Source(s)
Finance Manager for a car dealer for over 9-years.
by SPIFIMAN1
5 months ago
Asker's Rating: 
Other Answers
Unless the place is a member of one of the agencies and report to them then it would not affect it either way. Have you ever heard of people that lie? I think you met one.
by knowitall- 5 months ago