You can overcome a somewhat larger financial bottleneck by taking out a 800 USD mini loan. Possible reasons for a mini loan over 800 USD can be a late transfer of wages or unexpectedly high bills. We’ll tell you what you should know about mini loans and, of course, how you can take out an 800 USD loan.
Which providers offer a $ 800 mini loan?
Capital Lender, MyCredit Lender and Prida Cash Lender are three major providers of mini loans. With these providers you can quickly and easily take out a loan of 800 USD. Prida Cash Lender is the only provider where even first-time customers can take out an 800 USD loan. For Capital Lender and MyCredit Lender, the maximum amount for first-time customers is 600 and 500 USD, respectively.
Mini loans are characterized by their short term. Loans over 800 USD are granted by Capital Lender and Prida Cash Lender with terms of 60 and 62 days, respectively. With MyCredit Lender you can also choose a term of 90 days. Since 800 USD is a sum that can usually not be recovered within a short time, it would be worth considering taking out such a loan as a normal installment loan from a bank.
Even if you don’t get particularly good terms, keep in mind that you are more likely to be able to repay the loan in several smaller installments. If you can quickly repay the 800 USD, you can usually pay off an installment loan early.
Who can take out an 800 USD loan?
Anyone who has a Cream bank account and has reached the age of majority can generally take out an 800 USD loan. Capital Lender and MyCredit Lender only grant such loans to existing customers residing in Germany and with a minimum income of USD 700 and 500 respectively.
For a mini loan from Prida Cash Lender you need a residence in Europe. Proof of income is not required. All of the providers mentioned do not lend to over-indebted people. However, you do not have to worry if you have a bad score or negative entry at Credit bureau. Depending on their current financial situation, small loans are often granted anyway.
What is an 800 USD loan needed for?
You can use an 800 USD mini loan to cover unexpected costs. Such costs can be high bills, for example the end-of-year billing of your energy supplier. Even a spontaneous car repair can cost 800 USD, which you may not currently have left.
It can also happen that for some reason you don’t get your salary in time. With an 800 USD mini loan you can still pay your rent in good time. However, it should be noted that the total cost of an 800 USD loan can be very high if you need an instant transfer and payment in installments.
There may be a cheaper alternative to bridge a bottleneck. If you explain your situation, your landlord will probably give you a few more days to pay if you are still waiting for your salary. Most utilities also understand when a high year-end bill cannot be paid at once and offer the option of paying in installments.
An installment loan from a bank is also a possible alternative. The minimum loan amount is usually 1,000 USD, which is 200 USD more than the amount you need. It can still be worthwhile to calculate this option, because in the end it all comes down to the total cost of the loan. In addition, the repayment rates are significantly lower than those of a mini loan.
How quickly is an 800 USD loan paid out?
If you don’t need the money right away, you can get your 800 USD loan for free. You then only pay back the loan amount plus the interest. However, the fees for a possibly mandatory installment payment are added. You can get your 800 USD from MyCredit Lender very quickly. MyCredit Lender will transfer the money to your account within three to five days. However, loans of this amount are only granted to existing customers.
It takes a little longer at Capital lender Capital Lender pays the money out within seven working days. However, Capital Lender only grants such loans to existing customers. You have the longest waiting time at Prida Cash Lender. With Prida Cash Lender it can take up to 15 working days before you have the money in your account.
All of the providers mentioned also offer the option of a quick transfer. The money would be in your account on the same day, but at the latest within 24 hours. However, this service is not free of charge. At MyCredit Lender, the express option costs 39 USD. You pay 199 USD for Prida Cash Lender and 99 USD for Capital lender
When do you have to repay an 800 USD loan?
You must have paid back your USD 800 loan by the end of the agreed term. With MyCredit Lender you can repay your loan in one installment. You can also agree to repayment in two installments for a fee of USD 49. There is also an option to split the repayment up to six installments. The maximum term is 90 days.
At Capital Lender you get an 800 USD loan only with a 60-day term. The repayment is made automatically in two installments, the two-installment option costs an additional 99 USD. Prida Cash Lender has a term of 62 days. Here, too, the 2-rate option has to be booked, which entails fees of 149 USD.