The Better Payday Loan Alternative - Diamond Banc

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The Better Payday Loan Alternative

Waiting on your paycheck to arrive so you can pay off bills, make a down payment, or front the bill for a vacation on your time off? Payday loans may look like a good short term option, but they often come with strings attached. You might be left with unexpected debt, even after your paycheck arrives. So why not choose a safer, simpler option to borrow cash? An asset-based loan against your jewelry is the better payday loan alternative. This program can get you enough cash to bridge the gap until your hard-earned paycheck arrives.

A Better Payday Loan Alternative

Much has been written about payday loans. Although these programs can deliver quick cash in times of crisis, there are a myriad of issues that accompany the relief payday loans can provide.

Simply put, payday loans are inflexible, keep their customers in a cycle of debt, threaten borrowers’ credit scores and often come with unexpected fees. So, are these problematic, but helpful, programs really your best option? Let’s look at the problems with payday loans and the superior payday loan alternative.

1. Credit Checks

Payday lenders make you build a good track record before allowing you to borrow significant amounts of money. This means that you have to use your credit score. Any uncertainty in your credit history will mean higher interest rates for the borrower. Additionally, the mere process of undergoing a credit check puts another ding on your credit score. Once you get the loan, any late or missed payment can send your overall credit score into a rapid decline. Even if you do pay off your items, having payday loans on your credit score can look bad, even when you have nearly perfect credit.

Here at Diamond Banc, our loan amounts and rates do not work that way. We offer you top dollar every time for your jewelry. When you borrow from us and pay off your loan, we will continuously honor the same loan amount and rate for your jewelry on future loans. Since diamonds and precious metals have an inherent, constant value, you’ll always get a good deal when you borrow against them.

Our end goal is the same as yours: borrow until your payday. We want to loan you money against jewelry,  watches and diamonds, so you can repay the loan when your payday arrives, and get your jewelry back.

Diamond Banc loaned $2,000 for this diamond and sapphire ring.

2. Hidden Fees

Payday loans are notorious for their exorbitant fee structures. Clients secure payday loans with an upcoming paycheck, while lenders tack on ridiculously high repayment fees due in just a few weeks. This makes it difficult to pay off the loans, even when your paycheck arrives.

In contrast, Diamond Banc avoids these fees. The amount we agree upon for your loan is that amount that ends up in your hand. And unlike many other jewelry lenders, we do not have upfront fees. Additionally, we do not withhold an initial interest payment. We pride ourselves in our transparency and will go over any and all fees or charges associated with the loan process, before you agree.

So instead of taking out a risky payday loan, let your jewelry get the cash for you. Fill out our simple, no-obligation loan form to be contacted within 24 hours. Customers normally receive contact within minutes of their submission and receive funding in as little as 24 hours. We understand that you need money fast so we work quickly to get your loan completed and a check in your hand.

 

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