ClickCashGo Review – SavingAdvice.com Blog
Before we begin this ClickCashGo review, it’s important to remember that everyone’s financial situation is different. What’s right for one person isn’t necessarily right for another. That said, there are a lot of scams out there. There are a lot of problems with predatory lending. So it’s always important for you to think carefully about your financial choices before choosing any method of getting a loan.
What is ClickCashGo?
ClickCashGo is a lending platform. It’s not a lender. That’s an important distinction. ClickCashGo gives you a way to connect with a whole lot of lenders at once. So, on the one hand, this is a ClickCashGo review. But on the other hand, if you choose to use the service, then you need to understand that you’re working with a second separate lender, not simply this platform.
What is a Lending Platform?
A lending platform like Click Cash Go operates entirely on the Internet. It’s essentially a website where you enter a minimal amount of information in order to get matched with potential loans. The platform uses your information to provide you with loan options from any of the lenders that they work with and that you qualify to get a loan from.
Therefore, the lending platform is essentially a middle man. You need a loan. Instead of applying with a whole lot of lenders and getting rejected over and over, you use a middle man. You’ll get a ClickCashGo review of all of your available lending options. Then, once you accept a loan, ClickCashGo is out of the picture. Your loan comes from that other lender.
There is No Immediate Obligation
Almost every ClickCashGo review that you find will note that this is “an obligation free lending marketplace.” What does that mean? Because ClickCashGo is the middle man, you aren’t obligated to take any of the offers they give you. Therefore, there’s no obligation to find out what loans they might make available to you.
That said, in my experience, when you sign up to get quotes from a service like this, you do get a lot of follow-up offers. You may receive more email and phone calls from potential lenders than you would like. So, while there’s no obligation, you can potentially at times feel like there’s some pressure to take out a loan. If you’re in dire financial straits, you can easily cave to that pressure, whether or not it’s the right personal finance choice for you.
What ClickCashGo Offers
You might end up finding ClickCashGo if you’re seeking a loan for a small amount, especially if you have bad credit.
ClickCashGo advertises that you can get personal loans up to $5000 that you can use for any reason at all. You can borrow as little as $200 through their lenders. They offer cash advances, payday loans, and installment loans. Repayment plans can be as short as three months or as long as five years.
The application process is very quick. You enter just a small amount of information on the website. Then, within two minutes, you’ll find out what loans you qualify to receive.
The acceptance process is quick as well. You need to have a bank account that they can send the money to. Accept the terms of one of the loans and the process begins immediately. You may receive your loan the same day or the following business day.
There are a few limitations for people applying for these types of loans:
- You must be 18 or older.
- Only U.S. citizens qualify.
- You have to be employed or able to prove steady income
It’s also important to know that you can’t apply for these loans if you live in one of the following eight states: Arizona, Arkansas, Georgia, Massachusetts, New York, Ohio, Pennsylvania, or West Virginia.
If you are desperate for a short-term loan and haven’t had luck through traditional channels, what they offer is legitimate.
There are no fees to utilize this service. However, the lender might have origination fees, which you should review before accepting any ClickCashGo offers.
ClickCashGo Review: The Downside
You may have already noticed one downside to this service: you must have steady employment. Oftentimes when we need money quickly, it’s during times that we don’t have a job. Therefore, you might not even qualify for this service.
That said, there are other big downsides to consider. The biggest of those is that you are likely going to get a loan that has a very high interest rate. After all, if you could easily qualify for a small loan with a good interest rate, then you would probably get it through regular channels. For example, you might go directly through your bank. If you’re going through ClickCashGo, then it’s probably because you don’t qualify for traditional loans. This means you’re a high-risk borrower, which means your interest rate will likely be high. (They do offer loans to people with good credit, but the site is primarily geared towards people with no credit or bad credit.)
A high interest rate makes it hard to repay the loan. You can easily get stuck in a cycle of borrowing, repaying, and borrowing some more. That’s less than ideal. On the plus side, you do get to see your ClickCashGo offers before you accept the terms. Therefore, if all of your interest offers are too high then you can opt out. That said, if you feel desperate for the money, you might accept those offers without thinking it through clearly. High interest is problematic, so you want to have a clear mind if you’re thinking about taking on that debt.
Is ClickCashGo a Scam?
ClickCashGo is a not a scam. It’s a company that’s been around for several years. They don’t offer loans themselves. They are clear and upfront on their website about the fact that they are simply a middle man who connects you with lenders.
Whether or not the terms of the loan are fair really depends on your exact needs. Like all payday loans, cash advances, and high-interest loans, the offers tend to come with a lot of risk. If you’re in a pinch and don’t have any other options for a loan, then you can use the service to find one of these. Just be aware of exactly what you’re getting yourself into. This is a short-term solution to a financial situation that could have long-term effects. I mean, do you really want to be paying as much as 35% APR on a $5000 loan that isn’t going to be paid off for another five years?
Other Solutions Besides a Quick Loan
Often, with some clear thinking, you can find other solutions to your immediate cash problem. Here are some suggestions:
- Ask for an extension on your big bills. For example, see if your landlord will work with you.
- Change the due date on your bills. You can often set utility and credit card payments to pay out after you’ve received your paychecks.
- Borrow money from a friend or family member at low or no cost.
- Sell something that you own to get the cash that you need.
- Ask around to see if you can do some quick labor or service work for someone that you know in order to get the cash that you need.
- Request a credit line increase on an existing credit card that you know has favorable terms.
- Dramatically reduce spending for one month in order to save money.
Get creative. Don’t immediately go for a high interest loan.
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