If you need money and are considering loan options, you may be surprised to discover that jewelry equity loans are preferable to personal loans. Jewelry equity loans can get you the cash you need quickly with little hassle.
Jewelry Equity Loans Do Not Require a Credit Check
When you’re applying for a personal loan the lenders will run a credit check on you. This is not only a time-consuming step added to the process but can prevent you from getting a loan altogether. This means that if you have a poor credit history you may have an extremely high-interest rate. Jewelry equity loans are better because there is not a credit check. The loan is based on the value of your assets such as your jewelry, diamonds or watches.
They’re Faster than Personal Loans
In addition to not requiring a credit check, jewelry equity loans also have a seamless and expedited process. Once you receive an initial quote, you can ship your item the very next day. The entire process can be as quick as 48 hours. This jewelry equity loan process is preferable for many because it is so fast. Personal loans, on the other hand, are a much slower process. A personal loan can take up to 72 hours to get approved and an additional 5 days for documents to be verified.
Jewelry Equity Loans Won’t Affect Your Credit Score
When you get a personal loan, it’s required that your lender will give your loan details to the credit bureaus. Just applying for a loan can affect your credit score. In addition, if you don’t make your loan payments on time, that can also bring down your credit score. In comparison, jewelry equity loans have no effect on your credit score. Jewelry equity loans do not require a credit check and therefore the lender will never report the loan to the credit bureau. Therefore, if you want to maintain your current credit score, jewelry equity loans are preferable.
Overall, if you’re looking to get a quick loan that doesn’t require a credit check and won’t affect your credit score, get a jewelry equity loan. Diamond Banc offers loans in return for your high-quality jewelry, diamonds or watches.
Get started today by filling out our no risk, no obligation jewelry-equity loan form. Or stop by one of our convenient locations.