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If your credit is bad, you will have problems getting approved for most types of regular loans. For a payday loan, a bad credit is not a problem as the loan amount is small and the lender depends more on the fact that you have a regular income.
What this means is that not any kind of job is sufficient. Usually, lenders will require that you have been in the job for at least two months (or more) and have an total monthly income of more than $800-$1000 This amount might vary from company to company and different states can have different laws to govern this. In some cases, even social security income can be considered as your income. Having this requirement in place ensures that you will be able to pay back the loan on time. Other than the income requirement, other requirements might include being 18 years old or above, having a checking or savings account and having no multiple outstanding payday loans. While your credit history or record will usually not be considered in the payday loan approval process, some payday loan lenders may use a service like teletrack to check your returned check history and payday loans use.
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