Dash of cash FAQ: straight answers
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Answers to the questions people ask most before a dash of cash request, from how our free service works to credit checks, costs and privacy.
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Our service and how a dash of cash request works
Our service is a free loan-request connector, not a lender. You fill in one request form, we pass it to lenders in our network, and any lender that makes an offer sets its own rate, terms and funding time.
Are you a lender?
No. We run a request form and connect you with lenders in our network that offer personal loans from $500 to $5,000. We do not make credit decisions, set APRs or send loan funds. Every offer you receive comes from an independent lender, and the agreement you sign is with that lender. Questions about a specific offer are best answered by the lender that made it.
Does it cost anything to use your service?
No. Sending a personal loan request through our form is free, and you pay us nothing whether or not you accept an offer. We may be paid by lenders in our network, which is explained in our disclosures. Any charges on the loan itself, such as an origination fee, are set by the lender and must appear in the offer before you sign.
What can I use the money for?
Common uses include car repairs, medical or dental bills, moving costs, combining higher-rate card balances, catching up on a utility bill and small equipment for a one-person side business. Some lenders restrict certain uses, such as tuition, investing or gambling, so read the loan agreement. A quick dash for cash should still have a clear purpose and a repayment plan.
How much can I request?
You can request any amount from $500 to $5,000. A lender may offer the full amount, a smaller amount or no offer, depending on your credit, income, existing debt and state. Requesting only what you need for a dash of cash expense keeps the monthly payment lower and can make a request easier for a lender to approve.
Am I required to accept an offer?
No. Submitting a request creates no obligation. You can review each offer's amount, APR, term, monthly payment and fees, then accept one, compare a few or walk away. Declining an offer costs nothing, and you can come back later if your needs or your credit picture change.
What happens if no lender makes me an offer?
Sometimes no lender in our network can make an offer, usually because of income that cannot be confirmed, high existing debt, recent late payments or state limits. A lender that declines generally must tell you the main reasons. You can work on those points and try again later, or look at alternatives such as a payment plan with the provider or an advance from your employer.
For a step-by-step look at the path from request to funding, see how our service works.
Submitting a personal loan request
Submitting a request takes one short online form covering the amount you need, your contact details, income, housing and bank information. Lenders that serve your state then review it and may respond with offers.
What information does the request form ask for?
The form asks for the amount you want, your name, date of birth, address, phone and email, your income source and pay schedule, your housing situation and basic details about your checking account. Lenders use your Social Security number to confirm identity and check credit. Entering the same details that appear on your ID and bank records helps avoid delays.
How long does the form take to fill in?
Most people finish in a few minutes if they have their income and bank details on hand. The form saves you from filling in a separate application at each lender, although a lender that makes an offer may ask a few follow-up questions or request documents during its own review.
Can I correct a mistake after I submit?
If you spot an error, such as a typo in your income or address, contact us right away so we can help, or submit a corrected request. If a lender has already made an offer, tell that lender directly, because the offer was based on the original details and may need to be updated before you sign.
Is it a problem to submit more than one request?
Submitting a second request is not usually harmful, especially when the first one had an error. Repeated requests within a short time can create duplicate contacts from lenders, though, and accepting more than one loan can stretch your budget quickly. Review the offers you already have before sending another request.
Will lenders call, text or email me?
Yes. Lenders that review your request may contact you by email, phone or text about an offer or to finish their review. You can opt out of marketing texts by replying STOP and unsubscribe from emails using the link at the bottom. Messages about an active loan come from the lender and should be handled with the lender.
When would the money arrive?
Timing depends on the lender and your bank. Some lenders fund as soon as the next business day after you accept an offer and complete their review. Weekends, bank holidays and document requests can add time. If you need the money by a certain date, ask the lender for its expected funding time before you sign.
If you want to check the basics before you start, our page on who can request a personal loan lists the age, income, bank account and ID requirements lenders typically use.
Credit checks and your credit score
Sending our request form does not by itself affect your credit score. Many lenders start with a soft credit inquiry, and a hard inquiry usually happens only if you accept an offer and move to final approval.
Will sending a request hurt my credit score?
Usually not at the request stage. Soft inquiries, which many lenders use to prequalify you, are visible only to you and do not change your score. If you accept an offer, the lender may run a hard inquiry, which can lower a score slightly for a short time. Each lender's offer explains which type of check it uses.
Which credit bureaus do lenders check?
Lenders may pull from one or more of the three national credit bureaus, and the one they choose varies by lender. Because each bureau's report can differ slightly, it is worth pulling all three of your free reports before you request a personal loan so you are not surprised by an old error.
Can paying a personal loan on time help my credit?
It can. Many lenders report payment history to one or more credit bureaus, so a record of on-time installment payments may help your credit over time. Late payments are reported too and can hurt it. Ask the lender whether and where it reports before you accept an offer.
Can I send a request with no credit history?
Yes, you can submit a dash of cash request. A lender may weigh steady income and a well-managed checking account more heavily when there is little credit history to review. Offers to new borrowers are often smaller or carry a higher APR, and some lenders will decline until there is more history to read.
Does checking my own credit lower my score?
No. Looking at your own credit report or score is a soft inquiry and never affects your score. You can check your reports from the three national bureaus for free and dispute anything that looks wrong, such as an account you do not recognize or a payment marked late by mistake.
Will my request show up to other lenders?
A soft inquiry appears only on the copy of the report you see, not the version other lenders review. A hard inquiry, if a lender runs one after you accept, is visible to other lenders for a period of time. That is one reason to accept only the offer you actually plan to use.
Costs, APRs and fees on personal loans
Personal loans through lenders in our network typically range from about 6% to 35.99% APR. The lender sets the actual rate and any fees, and both appear in the offer before you agree to anything.
What does the representative example cost in dollars?
In the representative example, $2,000 repaid over 24 months at 24.99% APR has an estimated payment of $106.73 a month. That adds up to about $2,561.52 in total, including $561.52 in interest, assuming no fees and on-time payments. Your own offer may be higher or lower; our page on personal loan rates and APRs shows how each factor moves the cost.
What fees could a lender charge?
Depending on the lender and your state, an offer may include an origination fee, which is often deducted from the money you receive, plus late fees and returned-payment fees if a payment is missed or bounces. Using our request form is free. Read the fee section of every offer, and compare offers by APR because it includes the origination fee.
How can I estimate a monthly payment before I apply?
Use our personal loan calculator to test different amounts, APRs and terms. As an example from our payment table, $1,000 over 12 months at 19.99% APR works out to an estimated $92.63 a month. Calculator results are estimates, not offers, and the lender's figures are the ones that count.
What does borrowing $500 for six months cost?
Using our payment table, $500 over 6 months at 29.99% APR has an estimated payment of $90.77 a month. Six payments total $544.62, so the estimated interest is $44.62. At 12.99% APR the same loan is an estimated $86.52 a month, or $519.12 in total. Fees, if any, would add to these estimates.
Is a personal loan cheaper than carrying a credit card balance?
It depends on the APRs involved and how quickly you would pay the card down. A personal loan has a fixed payment and a set end date, which helps some people stay on track, while a card balance can linger if only minimums are paid. Anyone weighing dash of cash options against a card should compare the total cost of each path in dollars before deciding.
Why might my offer be higher than the lowest advertised APR?
The lowest APRs in any range are usually reserved for applicants with excellent credit, low debt and strong income. Most people see offers somewhere in the middle of the range. Your offer reflects how a lender reads your full file, including your state, the amount you requested and the term you chose.
Repayment and managing your loan
Repayment is handled directly with the lender, usually in fixed monthly installments drawn from your checking account. Terms vary by lender and state, and the loan agreement lists every due date, payment amount and fee.
How do I make payments?
Most personal loan lenders set up automatic payments from the checking account where your funds were deposited. Many also offer an online account or app for one-time payments, and some accept payments by phone or mail. Autopay is the simplest way to avoid missing a due date, as long as the account has enough money in it on that day.
What happens if I miss a payment?
A missed personal loan payment can trigger a late fee, and a payment returned for insufficient funds may add a separate fee. Many lenders report payments that are 30 or more days late to the credit bureaus, which can lower your score. Contact the lender before the due date if you know a payment will be short.
Can I change my payment due date?
Some lenders let you move your due date once or twice, for example to line it up with your paycheck. The option, any limits and whether interest changes depend on the lender. Ask through your online account or by phone, and confirm the new date in writing before you skip the old one.
What should I do if I cannot afford my payments?
Call your personal loan lender as early as possible. Many lenders have hardship options, such as a short payment deferral or a modified schedule, though none is promised. A nonprofit credit counseling agency can also review your budget for free or at low cost. Ignoring the problem usually leads to fees, credit damage and collection calls.
Who do I contact with questions about my loan?
Your lender. Once you sign, the loan is between you and the lender, so questions about balances, payments, payoff amounts or statements go to the lender's customer service team. You will find its contact details in your loan agreement and welcome email. We cannot change loan terms, but we are happy to point you in the right direction.
How long are repayment terms?
The lender sets the personal loan term, and the options depend on the amount, your profile and your state. The estimates in our payment table run from 6 to 36 months. Shorter terms mean higher monthly payments but less total interest, while longer terms lower the payment and raise the total cost.
Privacy, safety and avoiding loan scams
Your request is shared with lenders in our network and service partners as described in our privacy policy. Legitimate lenders never ask for an upfront fee by gift card or wire transfer, or for your online banking password.
How is my information shared?
We share the details in your request with lenders in our network so they can review it, and with service partners that help us operate the form, as set out in our privacy policy. The policy explains what we collect, why, who receives it and the choices you have, including how to opt out of marketing messages.
How can I tell a loan site is safe to use?
Before you type personal details on any loan site, check that the address starts with https and shows a padlock, that the site explains who it is and how it is paid, and that it links to a privacy policy and terms. Be wary of any site that asks for your banking password or a payment before you receive funds.
What are the warning signs of a loan scam?
Red flags include a promise of approval before anyone reviews your information, a request for an upfront fee paid by gift card, wire or payment app, pressure to act within minutes, a lender with no physical address, and requests for your online banking login. A real lender shows the APR, fees and total cost in writing before you sign.
Someone called about my request and asked for a fee. What should I do?
Do not pay. Our service is free, and we never ask for a fee to send your request. Hang up, do not share account details and contact us using the details on our contact page. You can also report the call to the Federal Trade Commission. If you shared bank details, call your bank right away.
How do I stop messages after I send a request?
Reply STOP to marketing texts and use the unsubscribe link in marketing emails. To stop calls from a particular lender, ask that lender to add you to its do-not-call list. Messages about an active dash of cash loan or any loan you have accepted will continue, because the lender must reach you about your account.
Can I ask you to delete my information?
You can contact us to ask about accessing or deleting the personal information we hold, and our privacy policy explains how requests are handled. Lenders that already received your request keep their own records under their own policies and legal obligations, so contact them directly about anything they hold.
Ready to see what lenders can offer?
One short request, no fee to use our service and no obligation to accept an offer.