If you’re a tightwad who prefers to spend your money on things like rent, utilities, and other basic living expenses instead of frivolous luxuries, then you’re probably not the target audience for payday loans.

These short-term, high-interest financial services are most useful for people with limited savings who need cash right away.

Though they may seem like a no-brainer for people who have little access to credit, there are several things you can do to raise your chances of getting your payday loan approved.

When it comes to payday loans and personal finance, there is an old adage that is all too true: You can’t get rich from poor decisions.

The same is true when it comes to payday loans; even though these services may seem like a cheap way out at the moment, in the long run they aren’t usually worth the cost.

Unlike installment loans such as auto or mortgage loans (which don’t require any upfront costs), payday loans require an initial fee and set term (typically two weeks) at which point you must repay the full amount borrowed plus interest—and this cost only goes up from there.

That being said, not everyone will be able to get their hands on these services within a two-week time period and if this is the case with you then having an easy time getting approval for a loan extension is essential.

Here are some ways you can boost your odds of getting approval for a payday loan

Stay in Touch with Your Loan Provider

While it may be tempting to apply for an online payday loan without much thought to the process, this is the fastest way to run into issues when it comes to getting your loan approved.

Not only will you likely have a harder time proving that you have the cash available to pay back the loan, but it may also be harder to establish trust with the lender.

To avoid applying for loans that fall through the cracks or being overcharged on your next payday loan, try keeping in touch with your loan provider.

Ask them for frequent updates on the status of your application and note both your loan provider’s name and their full contact information. Make sure to ask for the information you’ll need to get in touch with your loan provider, including their business email address, business phone number, and address.

Speak to Your Lender Consistently

While most payday lenders are willing to work with borrowers who are diligent about their loan repayments, if you ignore your loan provider’s calls and emails they’re likely to close your account or even file a complaint with the FTC.

At the very least, ignoring your loan provider will likely result in delays in your loan application, meaning that you may have to wait an extra few days before you can get your hands on some cash.

Borrowers who ignore their loan provider’s phone calls and emails run the risk of being scammed. Though it’s not common, scammers have been known to use voice and text impersonation to trick borrowers into giving out personal information over the phone.

Be Upfront and Proactive When Applying for Loans

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If you’re open and upfront about how much you currently owe and how you’re expected to pay that off, then your loan provider is more likely to work with you. It’s also important to remember that when you’re applying for a payday loan you’re not just applying to get a loan but also to get approved for an account.

Before you do this, it’s a good idea to speak to your bank about opening up a checking or savings account to help you get a leg up on saving for the future (see below for more tips on this).

Stay Organized When Approving Applications

With any type of loan, it’s important to stay organized and make sure that you keep all your loan documents in one place.

This makes it much easier to track all the information related to your loan, from the terms and conditions of your loan to the account number and routing number associated with your loan. It’s also helpful to make a script of questions you’ll ask when you need to follow up with your loan provider.

It’s helpful to have a script of questions, including a question about the status of your application and another that asks for the account number and routing number associated with your loan.

By asking for this information in a few different ways, you’re better prepared to get the information you need quickly.

Strive for Financial Literacy Before Borrowing

Payday loans are a short-term solution to a short-term problem, and there’s no denying that they’re incredibly useful at the moment.

Though they may be beneficial in some situations, taking one should be a last resort that comes after you’ve exhausted every other option.

The best way to avoid this is to familiarize yourself with the different types of financial products that are out there and make sure that they’re the best option for you.

Even though payday loans come with high upfront costs, they also come with high long-term costs (in the form of interest). As such, it’s important that you make financial sense of the situation before you borrow.

The best way to do this is to do some research and make sure that you know as much about your financial situation as possible.

Wrapping Things up

The best way to raise your chances of getting your payday loan approved is to be as organized and proactive as possible when it comes to applying for one.

Furthermore, it’s also helpful to be as financially literate as possible before you consider borrowing. This way, you can make sure that whatever money you do borrow is the best option for your situation.