You don’t have control over who gets to see your application – Cash Kitty does not list the lenders who are in its network. Because of the lack of transparency on this front, it’s impossible to research the lenders beforehand. And just because Cash Kitty ensures your information is safe does not guarantee you that the lender you get has the best customer support or the best website. It is a case of ‘you take what you get.’ It is not a lender – most users say Cash Kitty has a simple and straightforward website. However, the website is not the final destination. The loan you get will not be serviced on the platform. Therefore, before you accept a loan, ensure you are comfortable with the lender and the terms they installment loans in Texas stipulate for the loan. Terms are not listed – you do not know the exact terms and rates that apply to the loan until you get an offer. And since the terms differ from lender to lender, it is difficult to know how much time you have to service the loan. The costs are steep – short term loans are notorious for high APRs. The lenders on Cash Kitty’s network are no different. Though other types of credit forms take longer to process, they usually are cheaper.

How does Cash Kitty work?

Cash Kitty is a loan provider that allows users to submit loan applications and connects them to multiple lenders in its network through a single application. So instead of lending money, it uses the information on your application to get you a short term loan.

Their selling point is that they save you research time and help you get a loan that’s perfect for your financial situation in the shortest time. Whether they achieve this selling point experience is debatable, as seen on the pros and cons section.

So the process starts by filling a form. Cash Kitty then sends this form to lenders in its database, but after verifying your credit history through Credit Information Services like William Ellis Sinclair and others. There is no way a user can know which third-party provider will review the application before it’s complete. But what is a given is that all these Credit Information Services have a 14-day free trial, after which they require a monthly membership costing between ?10 and ?30 (if your loan application is rejected and you’d like to know why you can use these services). Since Cash Kitty isn’t the lender, once your loan is approved, they pass you on to the lender in question and you deal with them directly. The loan terms that apply are those of the lender and not Cash Kitty.

Secured loan – this requires an asset for approval. Personal loan – this type of loan is unsecured and ideal for those with bad credit. However, the loan often comes with high-interest rates as a reward for the high risk.

What other store services does Cash Kitty offer?

Aside from connecting you to lenders, Cash Kitty doesn’t offer any other financial service. The services you can take advantage of are those your lender offers.

Cash Kitty account creation and borrowing process

Step 1: You specify the loan amount, duration, and reason for taking the loan. It could be for an emergency, car repair, home improvements, travel expenses, utility bills or any other thing. Step 2: Enter your details. This section specifies the name, residence, and contacts. Step 3: Here, you enter your work details. You will have to specify the name of your employer, your income, how long you’ve been working for your current employer ad when you expect your next paycheck. Step 4: Specify your Monthly expenses. This step is essential since it helps Cash Kitty and lenders to determine if you can afford the loan you are requesting. This section is part of its adherence to responsible lending