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When you’re searching for a cash advance, comparing online lenders is important. It’s not difficult if you know what qualities are most desirable. Remember that applying online for your cash advance is only part of the process. You must also be approved and, in order to be approved, you’ve got to make sure there is in place a clearly defined repayment procedure. Here are some helpful when comparing online cash advance lenders.
Step 1: Spend some time on each online lender’s website. This is the most efficient way of comparing online cash advance lenders. The first thing to look for is membership in the CFSA. The Community Financial Services Association is a membership organization that realized a need to establish a set of standards for the cash advance industry. Along with paying dues, members agree to abide by the organization’s Best Practices Guidelines with responsibilities that include truthful advertising and a willingness to encourage customers to act responsibly. Knowing that a cash advance company believes it’s important to conduct business professionally and fairly means you’re dealing with a company that cares about its customers.
This online organization maintains useful information on its website for cash advance lenders as well as the general public. You can learn more about the industry itself and view the complete listing of Best Practices. The site even has its own list of frequently asked questions.
Step 2: Another membership that reflects favorably with online business owners is the Better Business Bureau’s Online Reliability Program. Similar in function to the BBB that has been in existence for decades, before becoming a member an online business also must agree to adhere to a strict policy governing customer interaction and satisfaction.
When comparing cash advance online lenders, you will know immediately which ones belong to either of these programs. Online business members in good standing will proudly display each respective organization’s icon where it’ll be clearly visible to all new visitors.
Step 3: Compare access to customer service. When comparing online cash advance lenders, it’s also a good idea to check out each company’s accessibility to customer service. Sometimes when doing business on the Internet it can seem like you’re all alone. You type information about the product or service for which you’re inquiring and hope that somewhere along the line a real human being is waiting to help. There should be a toll-free customer service telephone number that’s staffed during normal business hours. Or better yet, look for sites offering “live chat” accessibility to a qualified customer service agent and get your questions answered instantaneously.
While you’re comparing the content of the various online cash advance lenders, check to see which ones offer Customer Rewards programs. On some sites you can earn money every time you refer a friend. Some will offer discounts for first-time customers. These types of incentives can leave you with even more money in your pocket.
The online cash advance industry is among the fastest-growing in the financial services industry and comparing lenders might just save you time and money!