All payday lender has an obligation to make sure their customers borrow money responsibly. As such, it is not uncommon for the payday or personal loan lender to decline many customers in a day if they see red flags. So, before you go applying for another payday loan, take note of these 6 reasons to why most payday lender may decline you.
1. You have too many existing payday loans
What many customers don’t know is that when a payday loan company view your application, they are able to look at your financial history. As such, they would know how many times you have applied for a loan in the past. If they notice that you’ve applied for multiple payday loans from various lenders, then this can be big a huge red flag for them.
2. Centrelink is your only source of income
Even though you may think Centrelink income is regular and safe, but in a payday lender point of view, having only