Payday Loans & Cash Advance - Same Day Cash
All of us need a helping hand from time to time, and there may be times whenever situations come up where we need to have some money in hand and we need to have it quickly. Although there are a number of different options that are available for individuals who need to get a loan, there are some reasons why a pay day cash advance may be you’re better option. Here are some of the reasons why you would choose to get a cash advance loan and what you can expect once you get one.
Most people that choose to get a payday cash advance do so for one of two different reasons. Either they do not have the credit to get a conventional loan and a cash advance loan is their only option or they need to have the money in hand within 24 hours, which is practically impossible with a conventional loan. Although there are some lending institutions which will work with individuals who have less than perfect credit, a payday loan is unique in that it does not check your credit history before lending the money.
That doesn’t mean, however, that you’re going to be able to get a loan from one of these companies without anything on your end. It is often necessary to prove that you have been employed for a length of time, often for a minimum of 30 days. It is also necessary for you to prove that you have a checking account which is in good standing and has not had any bad marks against it, such as bounced checks for several months. As long as you meet these qualifications, all that is really necessary for you to do is to agree to the terms and accept the money.
One of the things that really makes a pay day cash advance stand out from a conventional loan is the interest that you’re going to be paying. These loans will not mature over the course of several years and it will typically be necessary for you to pay the money back very quickly, usually within a week or two. The amount of money that you will be paying in interest will typically be much higher than a conventional loan but that is to cover their risk in not requiring you to have perfect credit.
There may be some payback options that are available on one of these payday loans, such as only paying the interest at the time the loan matures. You’ll want to make sure, however, that you pay your loan off as quickly as possible so that the interest does not keep accruing, as it can really add up quickly.
If you have an emergency or need money in between paychecks, a payday cash advance may be exactly what you’re looking for. As long as you treat them properly and do not abuse the system, they can be a source of assistance whenever you are unable to take care of things that come up unexpectedly.