The biggest advantage is that MoneyMutual doesn’t charge extra fees for the services which are very nice since for people with bad credit scores it would be more difficult to have any additional expenses. Especially, if you won’t get the feeling of being scammed or manipulated, even trying to take advantage of you.
If you ever feel like you don’t know enough about the loans or how everything works, MoneyMutual provides much educational information which can be very useful. You can read about the loan types, and all the tips that users practice to avoid predatory loans or fees that might trap them in higher debts.
The biggest strength of this platform is its speed. If you take a loan the traditional way you’ll spend many days going around and still won’t receive the appropriate service you need. That process is more complicated and many more factors will be considered. With this platform, you have the chance to be funded in less than 24 hours. Only the approval process may take a couple of days, but the users say that it’s not a big deal.
Q1. Is MoneyMutual Safe?
MoneyMutual is the number one option for many customers who have shown gratitude for using this website. It’s a legit and safe service that operates with more than 60 lenders. This means that it’s a proven platform in the loan market. This website is also part of the Online Lenders Alliance which guarantees that the lenders are part of this network by industry standards and don’t offer predatory loans.
The process made by MoneyMutual is secured by 256-bit encryption. Its operators perform daily scans to take care of the intrusions or prevent malware from giving out the client’s information. The security system is powered by Norton which is also a known antivirus company. Overall, MoneyMutual is more than a safe and confidential platform to use.
This is also proven by the users who have had amazing experiences. According to them, they felt safe while using it and also were served very fast. Another good thing that proves this is a high-quality website is the fact the users aren’t charged any additional fees. It’s very customer-friendly, easy, and simple to use.
Q2. Does MoneyMutuals’ Loans Require Soft or Hard Credit Checks?
They don’t cause these types of checks, but you should be aware of the lenders you’re connected with. They’ll check your credit score with one of the three big credit bureaus: Experian, Equifax, and TransUnion.
Certain lenders will need only soft credit checks while the others will require a hard credit check. What they prefer is often considered as the loan they’ll offer. However, the soft credit checks won’t impact the credit score, but the hard ones will do.
Q3. For Any Short-Term Loan Taken, Does The Credit Get Impacted?
No, it won’t. The short-term lenders don’t report to big credit bureaus just to take a loan out since the loan is often so short-lived that they don’t make an item for the credit report. In case the borrower doesn’t pay off the loan, then the lenders will report.
You must keep an eye on these kinds of things. As the loan term comes to an end you have to make sure it doesn’t get penalized unfairly. The first step here is for you to know how to understand the credit report. No matter if your credit score, good or bad, you’ll be given the money you need, but the only thing you must pay attention to is to pay off the loan on time.