Posts Tagged ‘Cash Advance’

How Simple Is Online Cash Advance Loan

Imagine getting a payday loan without even having to step out of your home. Moreover, to get a loan like this, you do not even have to prepare a voluminous case justifying your credentials as the rightful candidate. On the contrary, it is a smooth and hassle free process that happens over the web. It is called the online cash advance loan or instant cash advance payday loan.

It can be very frustrating when you have to fax copious documents to your lending company and ensure that it has reached them intact. The online cash advance payday loans are simple easy to follow system to get a loan during an emergency requirement for cash. The process does not involve any paperwork or fax, as all the collection of information takes place over the internet. All you need to provide is your special identification number issued by the state and all the verification is done by the lending company from online databases.

If you have a bad credit history, that is not an issue with online cash advance loans. These cash advance payday loans are short term loans and are recovered within a short time. This is the reason that the companies are not bothered with the individual’s credit rating. Moreover, these are unsecured loans, so you do not need to mortgage anything to get the payday loan. Some companies offer discounts and special attention to frequent customers as a recognition for their loyalty to that particular company.

There are a few simple qualifying factors for online payday loans such as:

You need to be over 18 years
You must be a US Citizen
You must have regular income of over $1000
You must have a checking account

If the above criteria are satisfied, your online loan application will be approved almost instantly and the loan will be transferred to your account in moments. Once your immediate cash needs are met, you must be responsible with your repayment. If you have paid a post dated check, make sure you have enough funds in your account. Some companies might slap criminal charges for insufficient funds. Further, to avoid piling up of huge interest in fees on your online cash advance loans, make your repayment in full on the due date. Making a habit to save a small amount periodically can help you avoid borrowing altogether. If you have the other extreme habit, that is, of borrowing all the time, it is a good idea to visit a credit counselor to budget you money.

How To Choose A Cash Advance Payday Loan?

Cash advance payday loans are a big reliever at dire strait situations. With the advent of internet, online cash advances are a matter of minutes. Payday loans are short term loans, provided by lending store that exist in huge numbers these days.

The loans are given for a small amount of $100 to $1500 to meet any urgent cash need that may arise between two paydays. These are a very easy way of avoiding late fees, overdraft or mortgage payments in most cases. Sometimes, their use may occur for some personal purchases like, a super saver sale on your favorite music system. Therefore, the payday loans, no doubt have the potential of getting you out of that spot. The key in using such services, though, is making an informed choice. We shall discuss here, few things that one must bear in mind before going for a payday cash advance.

Internet is a great boon, when it comes to looking for information. However, too much information sometimes can cause confusion. In order to pick the right lending company, you need to consider a few things about them. First of all, make sure the company you are borrowing from is registered with the state and follows the regulations laid down by them. Further, it makes sense to know whether the company is involved in some litigation or complaints.

A great way of knowing about how well the company serves its customers is, by talking to a few of them. You can do that by visiting various forums and groups formed in the internet by the customer themselves. If the company has a long history of service, that’s a plus. When dealing with online cash advance payday loans, you must ensure the security of your transactions, by finding out whether the loan site is encrypted for protection.

Different cash advance payday loan companies offer different rates of interest. This rate of interest is applied to the amount you borrow and is normally charged as a weekly ‘fee’. If you do not repay the loan with your next paycheck or pay the partial amount, the loan is rolled over and you have to pay additional fee. The APR being as high as up to 650%, you certainly want a company that offers the lowest rate of interest. You can compare your rates online for different lending bodies and choose the one that fits you best.

It is important to read the fine prints and terms and condition of your contract with the cash advance payday Loan Company, so that you do not face any nasty surprises later on. Lastly, instant cash advance payday loans are meant to deal with the immediate need and not meant to be made into a habit.

Short-Term Cash Advances

A short-term cash advance is a cash management tool used to provide the customer an alternative means to fill an immediate financial need. Short-term cash advances provide an alternative to bounced checks, utility service disruption, late fees on credit cards, mortgages, and auto loans, or to cover an unexpected expense such as an automobile repair bill or emergency doctor visit.

Cash advances are intended to provide an answer to a short-term need for cash in between pay periods and should not be viewed as an ongoing way to supplement the customer’s income.

Short-term cash advances are unsecured and short-term with a maturity of 14-30 days*. These advances are typically less than $500 and average just under $300. Click here to find a Cash America location near you.