A quick payday cash advance loan is sometimes the only option to get quick cash for the millions of Americans who have maxed out their credit and temporarily need to get quick cash. Payday loans are short term loans usually ranging from $ 100 – $ 1,500 and usually carry a high interest rate with them.
It will typically cost a consumer $ 15 for every $ 100 borrowed from the payday lender and the entire amount will expected to be paid back on your next payday however most payday lenders are flexible in extending the payback date. While the interest rates are high on a quick payday cash advance loan it is often cheaper than incurring fees on other unpaid debt.
So is a quick payday cash advance loan a good idea for you? A simple guideline to use is that if your fees on unpaid debt will add up to more than the interest you will accrue on this short term payday loan then it is financially wise to get a quick payday cash advance loan. Below are some common bills that carry high fees for late payments:
– Credit card late payment fees – Usually $ 30 – $ 40
– Late rent / mortgage payment- Typically $ 50
– Car payment late fee- $ 40 on average
– Bounced checks- $ 30 – $ 50 per check
It is very easy to see that these fees can add up pretty quickly and this is why getting a quick payday cash advance loan is often the best financial decision to solve short term cash flow problems. Sometimes getting a short term payday loan is the only option for consumers in desperate need to get quick cash. A car breakdown is a common example of when consumers with maxed out credit really have no other option than to get a short term payday loan. They need the car to get to work and therefore the cost of not getting a quick payday cash advance loan is much higher than getting one.
Payday Loans or Fast / Easy loans are a quick and easy way to get quick cash when needed, especially in an emergency. For example if you need to pay for funeral expenses or have bills that need payment immediately using a short term payday loan can be an effective way to get the funds you need. These loans are called 'Payday loans' as generally they are short term loans offered to individuals that have a job, but need a rapid loan before their payday arrives. The short term payday loan is usually expected to be paid back in full when the individual receives their salary, although there is usually a 30 day period to make the payment.
Getting a quick payday cash advance loan is convenient, secure, and by far the best method to get quick cash for Americans with limited credit. If you are thinking about getting a short term payday loan then I suggest you do this online as online lenders are more convenient and usually offer better interest rates than your local payday retail outlet.
There are several online lenders to choose from however I would strongly encourage you not to go to a payday lender directly but rather find a website who is affiliated with some online payday loan lenders as these websites will make the lenders compete over your business and have consistently provided consumers with a lower interest rate. There are a few good multiple lender sites out there however I have found the one listed below to be the easiest to work with. They do not charge an application fee and you only have to fill out one application to get quick cash deposited into your bank account within 24 hrs. Hopefully this article has helped you determine if getting a quick payday cash advance loan is for you.