Cash Advances Bridge the Gap
Posted on Sunday, August 29th, 2010 at 3:33 pm in Financial Planning, Helpful Payday Loan Info
A 2008 study from East Carolina University found that consumers from all income levels overdraw their bank accounts several times a year, costing individual overdrafters up to $3,000 a year in bank fees alone. Are you one of the many Americans who overdraws their account to pay monthly bills on time between paychecks? Cash advances can bridge the gap to payday for financially responsible customers with temporary cash flow problems.
The same 2008 study showed an average annual percentage rate (APR) of 4,547% for bank overdraft fees that cost consumers over $3,000 a year. The same rate applies whether an account is overdrawn by a few dollars or a few hundred dollars. In contrast, a typical $100 cash advance with a $15 service fee borrowed for 14 days only costs the consumer $15 at the end of the loan term, or 391% APR if paid back over a full calendar year. Don’t let the critics fool you: Cash advances are a lower-cost credit alternative to outrageous overdraft fees.
Some months can be more financially draining than others. Even if you have good control of your personal finances, a cash emergency or a career setback can make it harder to make ends meet in some months than others. Cash advances from a reputable online payday lender can ease the strain with extra cash until payday to keep your bank account full enough to pay your regular monthly expenses. Get the cash you need wired in 1 hour. Apply today and find the temporary relief you’ve been waiting for.
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Cash is directly deposited to your bank account after approval.