How does my credit score impact my application?
NHCash.com considers your credit score alongside dozens of other factors about you when evaluating your application. We provide lines of credit to consumers with various types of credit/FICO scores; we do not have a minimum credit score required for approval. This allows the opportunity for customers that are just starting out with no credit, as well as customers that may not have great credit, to be approved.
What is the maximum line of credit that I can borrow?
NHCash.com currently provides lines of credit of up to $2000.
What are the interest rates and fees associated with the lines of credit?
The rates and fees for the lines of credit issued are specific to your state of residence. Specific details regarding your state’s rates and fees will be displayed on the application.
What are the requirements to apply for a line of credit?
For an application to reviewed and underwritten, applicants must:
· Be at least 18 years of age or older
· Reside in one of the states we currently do business in [Kansas, Utah, NH]
· Have a qualifying checking or savings account that has been open for more than 30 days
· Have a steady source of income (Self Employed, Social Security and Disability are also acceptable sources of income)
How long does it take to be approved for a line of credit?
Once applications are completed and submitted for underwriting, lines of credit can be approved in minutes.
How will I know if I have been approved?
Once your application has been approved, you will receive a funding email sent to the email address you provided on your application. It’s important to make sure your preferred email address is correct on your application as your email address will be used as a primary method of contact. If you are a new applicant, be sure to check your spam folder for communications from us.
Once approved, when will I receive my funds?
Applicants typically receive their lines of credit within 1 business day. Customer applications approved Monday-Friday before 6:00 pm EST can expect to receive deposits into the selected account on the next business day. If your line of credit is approved on Friday after 6:00 pm EST, or on Saturday or Sunday, the funds will be deposited the upcoming Monday. (Please note, holidays may affect actual deposit days
Can my line of credit be deposited into my savings account?
Yes! NHCash.com can deposit your line of credit into any qualifying checking or savings account you prefer.
Does NHCash.com provide a physical card with my line of credit?
NHCash.com currently only issues your line of credit into a qualifying checking or savings account for you to access at your convenience.
Can my line of credit be used anywhere?
NHCash.com uses your qualifying checking account or savings account to deposit your line of credit so you can use it like you would use any cash in your account. Use it to pay for groceries, gas, utilities, pets, and emergencies, etc.
I am self-employed, do I qualify for a line of credit with NHCash.com?
NHCash.com offers lines of credit to consumers with a steady source of income, which includes self-employment.
Why do you need my banking information before I am approved?
NHCash.com needs your banking information to ensure that the account provided is valid and currently active in order to expedite the review process. Not every bank account can accept remote deposits or allow for the deduction of payments.
What is BankLink and how does it work?
We use BankLink to help expedite the application review and approval process. BankLink allows NHCash.com to verify and authenticate your bank account information to ensure that you are the proper recipient of the funds being deposited. NHCash.com does not store your bank account username or password. All the information submitted is encrypted and secured using 256-bit encryption which is one of the most secure encryption methods used by the leaders in the banking industry today.
Questions About Your Line of Credit?
How can I make a payment on my line of credit?
Payments for your line of credit will be automatically deducted from your banking account or debit card on or near your payment due date. Only your minimum payment will be deducted from your account unless you make alternative payment arrangements with us or make a different payment in your MyAccount portal. Your minimum payment due can be found on your periodic billing statement which will be sent to the email address you provided on your application. Please note, your minimum amount due shown on your statement may not reflect alternative payment arrangements that were made on or after the periodic billing statement was created and sent to you.
How long will it take to repay my line of credit?
Since NHCash.com offers open-end revolving lines of credit, there is no set pay off date. Unlike traditional loans, our lines of credit can be kept open for as long as you would like. By only making the minimum payment due, it will take longer to pay down your balance.
How can I request additional money or increase my line of credit?
One of the biggest benefits of an NHCASH.COM line of credit is that eligible customers can get access to credit limit increases and additional cash drawdowns.
When an eligible customer wants to receive additional cash, they should log into their MyAccount to review their available credit. If the customer does not have enough available credit, they can request a credit limit increase. Customers can request credit limit increases after six on-time payments on their initial cash advance. Credit limit increases allow customers to increase their available credit so they can borrow more funds beyond their initial cash advance.
If the customer has sufficient available credit and have made at least 5***on-time payments, they can request an additional drawdown on their line of credit in their MyAccount portal. Once the request for a drawdown has been submitted and approved, funds will be deposited into the qualifying checking or savings account of the customer’s choice
Can I pay off my line of credit right away?
Yes, you can pay off your line of credit as quickly as you would like and there are no pre-payment penalties associated with doing so. However, we highly recommend keeping your revolving line of credit open so you have continued access to cash when you need it. Additionally, maintaining a credit account in good standing for a long period of time has been shown to significantly improve credit scores.**
Will I receive a billing statement?
Yes. Like having a credit card, you will receive a periodic billing statement for your line of credit. Your statement will consist of your current balance, minimum payment due, and payment due date, as well as additional information regarding your account.
What should I do if I can’t make my payment on time?
If you are unable to make your scheduled payment on time, please contact our customer service at least 2 business before your payment is due. Our customer service team will work with you to find a solution.
Our customer service team can be reached by email at firstname.lastname@example.org or by phone at 1-888-642-2740
Questions About Your Credit?
Will my credit be affected by applying for and receiving a line of credit?
When you apply for a line of credit with NHCash.com, we must pull your credit in order to provide you with a line of credit offer.
Does my payment history gets reported to the major credit bureaus?
Yes! NHCash.com reports your payment history to the major credit bureaus.
How can I establish and build my credit with an NHCash.com line of credit?
Opening a line of credit, paying your account on time, maintaining a low credit balance, and keeping your account open may help you establish and build your credit.
*Average initial line size between $250-$500. Demonstrating a record of positive payment performance may entitle you to credit line increases up to the maximum line size of $2,000. **NHCASH.COM, LLC does not provide credit repair or counseling services. ***Credit limit increase and drawdown eligibility requirements are subject to change without notice.