* At times when you need money fast (today rather than tomorrow or in a few weeks time) a cash advance is the only way to go. Because payday loan companies don't conduct credit checks, it's possible to be approved on the spot, in a matter of minutes! If you apply online, you don't even have to spend time traveling to a payday loan office, and you'll have the funds deposited in your checking account within a few hours or days. Banks take forever to approve a loan, and you're not guaranteed easy approval. Rejected applications mean even more wasted time.
* If you don't want to damage your credit, cash advances are a financial transaction that won't scar your credit rating. In fact, they won't even show up on your credit record, so you can use them to pay for anything you want without unnecessary worry.
* Cash advances don't require lengthy loan applications. The banks often ask you to write a letter outlining your intentions for the money and may ask you to state a payment plan for the repayment of the loan. This takes a lot of time and can be a hassle as well. If you choose a no fax lender, you can forget about annoying paperwork, searching for pay stubs, and getting your hands on banking statements.
* Despite what you may have heard, a payday cash advance can actually save you money. Forget about costly banking and late fees – cash advance fees tend to be less than the bank fees you have the potential to accumulate over time for non-sufficient funds. With a cash advance, a $100 loan may only charge a $15 fee, while bank fees creep up to the $30 to $50 range.
* In the same vein, credit card and other late payment fees can also add up more than you'd expect. If you choose to skip a payment instead of trying to find the funds, you run the risk of increased interest rates on all your accounts in addition to a one time late fee. You can easily avoid the stress and fees by getting a payday loan.
* If you have bad credit or no credit, you can still be approved for a cash advance, as long as you're over 18, and have proof of steady employment and permanent residence. There are no credit checks to worry about, and the company won't research your payment history or cash assets.
As you can see, a payday cash advance is a great way to get yourself out of a financial trouble spot without spending a lot of time or suffocating under mounds of paperwork. Why not try it the next time you need cash on the spot?
