Cash Advance Options
Before applying for a cash advance, it’s important to consider your options, and also your reasons for applying for an instant cash advance. First, let’s consider the purpose of a cash advance. An instant cash advance is, as the name puts it, an advance of your paycheck which is then repaid following your next pay period. It is true that most payday lenders will allow you to roll over your loan and pay it on a date later than what was originally agreed upon, but for now we’ll just keep it simple and discuss a typical payday loan experience. Payday loans are based upon your employment and pay history, which is why there is no credit check needed.
Now that we understand what an instant payday loan is, we can understand why it is used. Online cash advances are meant to be a small cash advance, which is sent to the borrower quickly and repaid in a short amount of time. Usually the cash amount is not more than $1,500. Payday loans should be used for an unexpected financial emergency and not meant to be used on a consistent basis.
So what are your other options for a quick cash loan. Obviously the bank is out of the question, as they would require a credit check and simply do not work fast enough to satisfy an immediate financial need. You could ask friends and family but then you’re put in the awkward situation of letting money get between you and your loved one. Is it worth it to risk harming your relationship with your family? Now let’s say that you do not have enough money in your account but decide to withdraw the amount anyway. You’ll then be saddle with high penalties and overdraft fees. The fee associated with a payday loan is much more reasonable compared to these exorbitant fees.
The best course of action before applying for any kind of loan is to do your research. In many situations, a payday loan may be your best option, but you should always consider what’s out there before applying.
3 Easy Steps to Get Your Quick Cash
Complete the short form.
Receive your approval and confirm loan.
Cash deposited into your account.