Text-based messages were the first methods of long-distance communication for humans. As trivial it may sound, sending letters changed the way we connected. Whether it was good news about a birth in the family or tragic news from the battlefront, letters sustained our need for connection for centuries.
Luckily, our innovative minds kept looking for other ways to sustain our bonds and reach out despite miles of separation. The dawn of technology soon could make all of our communication dreams a reality, and what awaited in the future was beyond anyone else’s imagination! Read all about the history of the telephone on this link: https://www.nationalitpa.com/history-of-telephone
The call of the future
Nowadays, people take the telephone for granted. You won’t be hard-pressed to find someone who routinely avoids calls. And you certainly can’t blame them! Scam calls and automated calls by telemarketers have become a nuisance many would instead evade. But when the telephone arrived, it provided people with something they had never had the opportunity to do before: hear each other’s voices thousands of miles away.
With the telephone’s adoption in mobile settings such as taxis, trains, and police cruises, engineers began to consider the idea of mobile phones. They believed that with a bit more work into developing the technology, every person would be able to carry a phone with them and call whomever they liked from wherever they wanted! And just like that – the cellphone was born.
The CEO of Motorola made the first recorded cellphone call in 1973, almost a century after Alexander Graham Bell started his journey. Following this, European engineers Friedhelm Hillebrand and Bernard Ghillebaert came up with the concept of a short message service (SMS) that would allow the transmission of short texts from user to user.
Although the first mechanism of texting was quite laborious and required clicking several times on one key to select a specific letter, it also led to some charming text speak over time. Today, trillions of SMS messages are being sent yearly. Some sources claim that, on average, approximately 200 thousand SMS messages are transmitted by second.
Like its forefather, the telegram, SMS has completely revolutionized society and has become a commercial industry worth billions. Today, it is possible to do something like register to vote via SMS or even apply for an SMS loan in just seconds. It has opened the door to things from democracy to healthcare for people in places where neither was possible.
A banking shortcut
If you are surprised to hear about the option to get a loan via SMS, you would not be the only one! Very few people are familiar with this option that became popular along with the use of SMS. Also known as same-day loans, they are essentially approved in a matter of minutes after you apply!
Now, you are probably thinking, that is a good thing, right? The process of acquiring a loan can be incredibly complicated and exhausting. What is so bad about getting what you need as soon as you need it?
Unfortunately, that is the exact kind of trap most people fall into. Sure, SMS loans are easy and convenient to take out, but they carry much more significant risks and long-term problems with them. Stay with us as we list some reasons why getting one of these loans might not be such a good idea.
Firstly, applying for an SMS loan is not as simple as most banks make it sound. In fact, it almost ends up being as long as the regular loan application procedure! The idea that you could send an SMS to the bank and receive the money in your bank account is nothing more than false advertising. If you are lending money the legal way, you would have to sign an official agreement with the bank, making the text message pointless.
Another offer that these banks usually offer their consumers is getting a loan without a credit check. It is no secret that many people struggle with their credit scores which often prevent them from getting mortgages. While this offer may sound tempting at first, you should be very careful when considering it. Namely, credit checks exist for a reason, and a bank not asking for one might not be as reputable as it presents itself to be.
This brings us to our next point. Although fast and easy loans are appealing shortcuts through all of the banking bureaucracy, they later come at a high price. Literally, these SMS loans usually have astronomic interest rates, which end up dragging you into more debt than you were in before! Moreover, repayment periods are generally very short, making it all the more difficult for consumers to repay the credit in time.
Lastly, the habit of SMS loans is a hard one to quit. Due to their fast-acting opportunities and good marketing, a lot of people end up taking out more than one at a time. This can pose a huge issue because, as we already mentioned, as soon as you cover the repayment for one, the time for the other starts running out.
Alternative options
So, what should you do if you find yourself in a tight spot needing cash as soon as possible? Well, luckily, the tech world has not been progressing only when it comes to telephones! Many banks nowadays have loan applications on their websites that can be filled out at the same time it takes to send an SMS. Furthermore, due to artificial intelligence development, a computer can automatically review your application and let you know if you are eligible within the hour!
This option is a much simpler and less stressful one as you still get a decision in a short amount of time, but with the credibility of an established bank behind it. And that is not even mentioning the other benefits of consumer loans.
Numerous banks offer consumer-friendly small credits that you can still receive reasonably quickly but with none of the headaches and stress of SMS loans. Of course, there are minimum amounts that you are allowed to take out, but they come with much lower interest rates and a more extended repayment period. This ends up being cheaper to repay in the long run.
Another choice you could opt for is the so-called loan brokers. These people are professionals who collaborate with banks and sometimes get you deals on credits you did not even know were possible! All you have to do is contact them and explain to them your situation, and they will have you settled in no time.
The way they work is, they will present you with more than ten loan offers from different banks that suit your needs. You pick the offer that fits your financial requirements best, and then the broker processes it soon after! Brokers have unique relationships with banks that considerably shortens the time for applying and receiving a loan, which can be an enormous advantage!
Additionally, unlike banks, loan brokers have their offices sometimes working in the evenings, and the weekends, so you should not worry about working times with them! Call them up, arrange an appointment, and let the specialist guide you!
