No collateral is required. Only you can decide if a Spotloan is right for you. Banks, credit cards, or even friends and family may be able to offer you better loan terms. We encourage you to check with them before you apply for a Spotloan. Spotloan SM quick loan pre approval a brand owned by BlueChip Financial, a tribally-owned entity organized under and governed by the laws of the Turtle Mountain Band of Chippewa Indians of North Dakota, a federally recognized Indian Tribe.
BlueChip is located on and operates within the Tribes reservation.
Quick Application. Submit online in a few minutes. We Work For You. All credit types welcome. Fast Funding. Accept and get funds.
First, if you take the advance using a credit quick loan pre approval, it will raise your outstanding balance, which will raise your credit utilization ratio, a measure that credit scoring models use to calculate your score. For example, if you owe 500 on a 1,500 limit card, then your credit utilization ratio is only 30. However, if you take out a 300 cash advance on that card, then the balance will jump to 800, resulting in a credit utilization of over 53.
High utilization rates are a big indicator of credit risk, and your credit score becomes adversely impacted as your ratio exceeds 40 (see What is a good credit utilization ratio. As mentioned earlier, the cash advance usually has a high interest rate. If this affects your ability to pay the monthly charges promptly, that could affect your credit score.
10, Representative APR 997 Simple Online Form Fast Access to Funds. Start Now and Get Results Fast. How It Works. Fill Out Our Simple Form. It takes quick loan pre approval to fill out our online form. It is protected by top-notch security software and absolutely free for you to use. No Obligations or Hidden Fees. Get Connected with a Lender. You will be connected with one of our lenders and receive your loan decision. Even the users with imperfect credit may be offered a loan.