By John Campbell

It’s a common misconception that cash advance lenders will approve almost anyone for a cash advance. Although it’s true that these lenders typically serve the needs of subprime consumers, some subprime consumers present too much of a risk for even a cash advance lender.

Having a credit score of 620 or below won’t hurt your chances of qualifying for a cash advance. Filing for bankruptcy or having a low credit score often makes no difference to cash advance lenders. They don’t check with the three national credit bureaus - Experian, Equifax and TransUnion - for negative financial data on which to make their decision on whether to fund your advance. Being involved in fraudulent activity, defaulting on subprime debts or even defaulting on other various agreements can quickly get you thrown in the “untouchable” consumer category, however.

To find out your history as a subprime consumer, many cash advance lenders make use of the TeleTrack credit reporting service. TeleTrack is the leading provider of subprime consumer credit information in the United States. When you apply for a cash advance, lenders working with TeleTrack input your name and any other vital identifying information into the TeleTrack database. If any red flags are raised by the TeleTrack credit reporting service you may be denied a cash advance.

The biggest red flag may be an applicant Social Security Number (SSN) listed by TeleTrack as belonging to someone who is deceased. Unused and recently issued card numbers are also listed in TeleTrack and can indicate fraud. With more than 72 million invalid SSN numbers in its database, TeleTrack is used by many subprime lenders in fraud prevention. TeleTrack can also help lenders determine if you’ll be likely to default on an advance.

Subprime lenders are only some of the companies that report financial information on their customers. Utility, rental and finance companies also report both positive and negative customer information to TeleTrack. The more negative information listed on your TeleTrack file, the more likely you’ll be denied a cash advance when you may need one the most.

As long as your TeleTrack file is clear, you shouldn’t have any problem getting a much needed cash advance. If it’s not clear, you may end up in a much greater bind during a financial emergency.

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John Campbell is the writer and editor of CashBuzz, A financial portal for the rest of us. Check out cashbuzz.com for the latest articles on money management and tips and tricks that can help improve your finances. This article may be reprinted on your Web site if the copyright, author information and active link are included.