Excluding mortgages, the average American carries about $38,000 in personal debt. Credit card debts account for about a quarter of all these debts.

Granted, many of these go toward funding personal purchases and lifestyle spending. But a lot of debtors also use their borrowed money for medical emergencies. To put thing is perspective, some 375,000 emergency department visitstake place in the US every year.

If you’re in such a situation, you may have considered getting payday loan services. You’ve heard that these short-term loans are easier to apply and get qualified for. There are also more payday lenders than McDonald’s, meaning you have loads of options.

True, you have higher chances of securing payday loans than traditional loans. This doesn’t mean you can always expect 100% guaranteed approval though.

So, before applying, follow these tips first! They’ll boost your chances of getting instant approval.

1. Meet the Minimum Requirements

To have higher chances of getting instant approval, supply the lender all requirements. Don’t worry, as they’re only basic, like a valid bank account and verifiable income source. You should be at least 18 years old too.

2. Be Honest about Your Income

While payday loan lenders won’t need a lot of documents, they’ll still verify your income. That’s why you should report an accurate amount when applying for a loan. Never exaggerate your monthly salary, as this can lead to the denial of your application.

3. Apply for Fast Cash Payday Loans

If you need to get a payday loan ASAP, like as soon as the following day, apply for a fast cash payday loan. Reputable lenders often only need a day to process applications for these loans. Some will even wire you the money within the same day of your approval!

4. Look for Bad Credit Payday Loans

If you’re one of the 43 million US adults with bad FICO score, you can still get approved for a payday loan.

You read that right. There are payday loans specifically for people with bad credit. Many of them don’t run credit checks, and best of all, lenders process them in as little as one day.

It’s best you start improving your credit score, of course, so that you can qualify for higher loan amounts. In the meantime, you can apply for these bad credit payday loans in cases of emergencies.

5. Getting Payday Loan Amounts Proportionate to Income

If you keep getting denied for payday loans, it’s possible you’re trying to borrow too much money. Payday loan lenders still factor in debt to income ratio. If you borrow an amount that’s equal to or more than what you make monthly, they’re likely to deny you.

If you make $1,500 a month, your loan amount should only be a fraction of that. $500 is a good amount to apply for. It’ll make it easier for you to pay back your loan. This’ll make lenders more at ease, so they’re more likely to approve your loan.

Secure a Payday Loan Now

These tips are key to getting payday loan applications approved within 24 hours or less. Also, consider applying online, which is even faster and more convenient. Prepare the basic requirements, and you can expect the lender to get in touch with you soon.

Need help securing a same day payday loan? Then check out this guide we have for more details!