Should You Get a Cash Advance Loan?

Should You Get a Cash Advance Loan?Are you totally broke until payday? Do you have bills that need to be paid right now? If so, you might want to consider getting a cash advance loan. However, before you sign on the dotted line, you should ask yourself these questions first.

Will I be able to pay this loan back?

As long as you can pay the loan back in a timely manner, payday advances aren’t very costly. However, if you can’t pay it back, those late fees can really add up. Don’t get a loan unless you know that you’ll be able to handle it.

Is this the best way to pay my bills?

Look at the rates that lenders are offering you, and see how they compare to the rates on your credit card. You might find that you can get better deals if you pay for your bills with your charge card instead.

Is this a trustworthy lender?

There are a lot of great companies that give out cash advance loans, but like with anything, there are a few bad apples. Do your research and make sure that you find a company that you can trust. You’ll be glad that you did.

These types of loans aren’t right for everybody, but they can be a very good fit for a lot of people. Make sure you find a loan that works for you. Go over all of the information available to you so that you can make a smart choice.

The more you know, the more likely it is that you’ll be happy with your final decision. Shop around, and do what you need to do to get the money you need. There are lots of great lending options out there, and you should take full advantage of all online cash advance loans.

Best Choice For You

There are many times when a situation which cannot be taken care of with a credit card may arise. Maybe your car broke down, you had to take a last minute cab ride or maybe you need to pick up a few things to hold you off till payday. On these occasions having cash in hand is a way better than plastic.

But what if the money left in your checking account is not enough to cover it all? A great way to get cash fast is by taking out a cash advance on your credit card. This seems quite convenient being as a cash advance is simple to acquire and you do not need to have a certain balance in your account to do so.

Although it does seem convenient you may be wondering if it is something you should do, here is a bit of information on the subject which may helpĀ  you make that decision.

Best Choice For You

What exactly is taking a cash advance?

A cash advance is a short term, loan which is taken against your credit card. There is of course a limit however instead of it being a short term loan as when you purchase with a credit card it is a cash loan, meaning your loan will be in the form of cash. You will be able to withdraw this loan from your credit card not your debit card at the ATM.

Keep in mind however that most credit card companies do not permit you to take out a cash advance for the full amount of your credit. Generally a cash advance is only given for a few hundred dollars. This of course means you cannot depend on your credit card to allow a large amount of cash even in an emergency situation.

It Can Be Pricey

Although getting a cash advance is pretty simple it can be a very pricey way of acquiring cash. This is due to the many fees and expenses associated with getting a cash advance, expenses which do not exist with a simple ATM withdrawal. Every cash advance has fees which can be two to five percent of the advance amount. So let’s say you get a cash advance of three hundred dollars on a credit card which has a four percent advance fee you will be charged twelve dollars merely to obtain the cash as well as any ATM fees there may be.

The priciest aspect of taking a cash advance is in fact the interest you will be charged, there are two ways in which this can be costly. For starters the interest rates on cash advances is generally much higher than credit card interest rates, but that is not the worst part. The interest on a cash advance generally begins accumulating from day one, no grace periods are provided. In other words the second you take out a cash advance you want to pay it back asap.
Assess Your Finances and Consider All Your Options

If you are considering taking a cash advance regardless of the high interest it may be an indicator of your financial situation being serious. A cash advance should be only used as an option in a very extreme situation. It may be best to try to restructure your finances and maybe consider other options. You could consider taking a personal loan, borrowing from family or friends and even overdrawing on your car which will not be nearly as expensive as a cash advance. Before you make a final decision look at every possible option being as the decision you make could be an expensive one.

Money In Hours

Money In HoursThere aren’t many ways that you can get money in hours with bad credit, or even with good credit for that matter. If you get a cash advance loan however, you can get the money you need fast and you don’t have to go through a credit check. All you need is a job. Advance loans will fund the same or next business day and the money goes right into your checking account.

Advance loans are perfect for people who have bad credit because you don’t need to go through a credit check. The loans fund quickly and you don’t need to endure a lengthy application process. The application is very short and you can complete it in a minute. The loans have a 99 percent approval rate and you will be approved as long as you have a job and a source of income.

You can use the money for whatever you want, but the loans are best used for emergencies because you have to pay a higher interest rate than you would with a traditional loan. Pay the loan off when you get paid and you won’t have to pay so much interest. Advance loans are great when you need money fast, but they aren’t so great if you carry them long term.

Cash advance loans are one of the few loan products you can get when you have bad credit. Bad credit can hold you back from so many things and it makes life very difficult. When you have bad credit you have to pay more for everything, including loans and even your insurance rates.

It takes years to bounce back from bad credit as well because the late payments and other negatives stay on your credit report for seven years. Just a few mistakes can affect you for a long time. With advance loans, you don’t have to worry about a negative credit report and you can get all the money you need quickly.

Having a source of money that you can turn to when your credit is bad gives you peace of mind. You never know when an emergency is going to happen and it helps having a place to go where you can get back up cash like an advance lender. You can rely on this money and you know that you are going to get it quickly.

Loan Solutions

Loan SolutionsMany people are seeking loans but have serious problems. For people with bad credit cash loans aren’t impossible. You just have to know where to look.

Everyone has a financial hardship now and again. There are many reasons for this from poor planning to unexpected expenses. Let’s focus on a solution, not the reason that we need a cash loan.

To start with, you can do a search on your favorite search engine for cash loans. Many are online and you can fill out the application right on their websites.

It’s a quick and easy application and sometimes you can get an answer within just a few short minutes. Just fill out of the required fields and see if you qualify.

Other resources are quick payday loans that will give you advancements on your paycheck. These are done in a brick and mortar building. You’ll take in your paystub and your check book. You must have a checking account for such a loan.

You’ll fill out the application and see if you’re approved. If you’re approved you’ll write a check for the amount of the loan as well as any fees (interest fees) that the company requires.

You’ll post date this check for your next payday and leave with the money in hand. The process is quick and easy and you don’t usually have to wait but a few minutes to be approved.

Another method is to use a title loan company. If your car is newer and you have the title you can often get a title loan. This give you money quickly and will allow you to pay the loan off later. If you don’t pay it off, you lose your car.

There are many ways to get bad credit cash loans if you do the footwork.

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