If you have a cash advance with one place,?

Question

and you want to get another, (yes, I know, not good)does the second place know about the first place, and that you already have one?

Answer 1

My mother-in-law is a manager at one of those places.  In some states (at least here) whenever you get a payday loan, the information goes into a state database and you can only have 3 active loans at any one time.  They file their reports online each day.

Answer 2

they will have no idea because they don't report to credit bureaus and if they did, they wouldn't have enough time to have it appear on your report anyway.  The only way it does appear is if you're delinquent.  Make sure the companies are not affiliated in any way though because it is illegal as h**l.

Answer 3

no clue

Answer 4

If they check.  If your record is so good w/them, over a period of ten years, or so, never late they probably won't check.  Spotty score, or several late payment over the years they will check.

It is also best to just deposit checks, not go thru verbal payoffs.  They will show on cr bur report, for instance, if you instruct the lender to pay off other acct, whereas if you just deposit check, and send money yourself cash advance shows, but not balance transfer.  It will show as a paid in full, or large payment by you.

Continued balance transfers show "borrowing Peter to Pay Paul".  This will eventually be noticed and stopped by lenders, unless you are millionaire celebrity customer w/over 900 credit score.

This is presuming you are talking about cash advance from credit card companies, you did not specify.