Anyone with a Credit Card would be familiar with the constant messaging that comes their way, letting them know that a pre-approved loan is theirs for the taking!

No paperwork!

No waiting!

How does this work?

If you have a credit card, you can apply for a loan against it, one you can get instantly. There is no documentation required as the Bank already has your information and there is no need to furnish any proof. There is also very little or no processing time or waiting period because the loan is pre-approved.

This is actually the best option out there for people who urgently need cash. People take these loans on their credit cards for several reasons –

How is the loan amount fixed?

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