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And if you live in a rural area, it can be hard to find a traditional lending place nearby. The borrower is given a credit limit, which is the loans maximum amount of money that they are allowed to borrow.
This may include your name, address, phone number, employment information, and bank account details. For example, many online lenders do not require a minimum credit score or collateral. However, cash advances on credit cards also come with some significant drawbacks.