This Month's Top 3 Payday Loan Offers

Cash Advance Fees

For sheer convenience at the precise moment that you desperately need cash, like for a medical emergency or an emergency car repair, or maybe even a bill you need to pay; nothing can beat a credit card cash advance.

Cash Loans

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    Features you need in a cash loan

    Getting a credit card cash advance is as simple as going to an ATM that will accept your credit card, and charging the cash you will withdraw to your credit card balance. No application requirements, no processing delays, no approval concerns and no hassle whatsoever; at least not at the time you get your cash advance. There is a snag though: the cash advance fee.


    Despite the incredible convenience of a cash advance, there isn’t a financial guru anywhere who would recommend a cash advance as anything but an absolute last resort. The primary reason is the infamous cash advance fee. Taking into consideration all the charges that go along with getting a cash advance, it is almost certainly the most expensive legal way to borrow money anywhere. All told the cash advance fee can amount to 23% of the total advance. While a credit card advance may save you from a big headache when you need money, it will most certainly be a big inconvenience when it is time to settle the bill.


    In the vast majority of possible emergency scenarios, there are alternatives to credit card cash advances. If it is really a big emergency, you could try borrowing money from family or friends. If you can’t get the full amount you need from such sources, then get as much as you can, so as to minimize the amount you need to advance, as well as the cash advance fee.

    Some more progressive and employee centric companies offer interest free cash advances, typically these are taken from your 13th month pay or any bonuses that the company regularly pays out as a perk. Many employee unions also have emergency loan provisions, although these often have hefty charges as well. Before resorting to a credit card cash advance, it is in your best interests to at least find out if such options are open to you.

    One rather popular option is a payday loan. A payday loan is a fast way to get money from a bank. As long as you are at least 18, and earn a salary, you are eligible for payday loans. Application can be done online or by phone and fax, depending on the bank you are borrowing from. Approval takes only day, interest is not too hefty, but the loan needs to be settled on your next payday. The amount you are entitled to borrow will depend on your salary. In the end, there are almost always choices, explore them all, lest you have to deal with the dreaded cash advance fee.

 

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