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There is often some confusion about whether or not you can get a debit card loan or a no debit card loan. The reason for the confusion with payday loans is that every payday lender has different criteria that they use when determining who they will lend money to and how much they will lend.
One of these differences is between payday lenders who offer loans where you need a debit card and those that offer loans where you do not need a debit card. A debit card loan is the standard as many UK based payday loan providers require you to have a debit card that is associated with your bank account.
The reason many payday debit card loans require you to own a card is that they use this as the main method of loan repayments. For both the lender and borrower it provides a quick and convenient method for the repayment of any money borrowed in a timely and efficient manner.
There are however payday companies that will provide a debit card loan even if you do not have a debit card. These are known as no debit card loans, they are essentially payday loans but you do not have to have a debit card that is associated with your main current UK bank account to qualify for a loan.
Whilst whether or not you have a debit card is one of the major criteria payday companies there are also other varying parameters that you need to meet to qualify. As these criteria do vary from lender to lender there are generally similar rules every company will use.
You will need to be 18 years or older, some prefer you to be 21 or even 25 but being of minimum adult age is essential. You will stand a better chance of qualifying if you have a regular full time job. However saying that there are payday loan companies who will provide debit card loans to retired or unemployed people.
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