Payday Loan Basics
Posted on Tuesday, July 6th, 2010 at 10:02 am in General Payday Loan Tips, Helpful Payday Loan Info
A payday loan is a short term cash advance that a borrower repays in full with his next paycheck. Fees and interest rates vary by lender, but the annualized percentage rate (APR) of an instant payday loan is typically lower than overdraft fees charged by the bank for a bounced check or penalties for late payments charged by a credit card company. Since online payday loans are a type of short term lending and are typically paid back within a month, the APR is also lower than traditional long term loans paid back in installments over several years.
Many Americans in a financial pinch turn to online payday loans for fast, convenient cash. A payday loan can be used for any expense that leaves you short on cash, from car repairs to emergency dental work to an unexpectedly high utility bill that you need to pay on time. A no fax payday loan can save your credit score by helping you pay your monthly bills on time when you need some extra cash. If you’re credit’s all ready poor, you can still apply for an online payday loan, even if you’ve been denied other types of credit. Instant cash advance loans are based on your income, not your credit score, so your credit history will never be examined. You can borrow up to $1,500 that your payday lender will deposit directly into your bank account within one hour of approval.
Don’t wait for the money you need. See the benefits of an instant online payday loan for yourself by filling out a secure application with one of our top-rated cash advance lenders.
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How it Works
Complete the short form.
We match you with a lender based on their requirements and direct you to their website.
The lender will then display loan rates, terms and conditions for your acceptance.
Cash is directly deposited to your bank account after approval.
