Easy Ways to Get a Payday Advance

What is a Cash Advance?

A cash advance is an instant, short-term loan from lenders or banks. This is also a service provided by credit card issuers granting cardholders to loan a specific amount of cash. Cash advances usually feature high interest rates, plus fees. Nevertheless, they appeal to borrowers since they offer easy approval and fast funding.

Cash Advance Types

1. Credit Card Cash Advances

Borrowing cash through your credit card company is another option. Depending on your credit card company, the funds can be given to you through a check or into your ATM. Credit card cash advances generally entail a high interest rate. Rates are higher than your regular purchases. On top of that, the interest will begin to accrue instantly without any grace period. Credit card advances also include a fee; either a percentage of the loaned amount or a flat rate. In general, credit card advances don’t qualify for low-interest rate offers. However, they are very easy and quick to obtain.

2. Payday Loans

The loans are particularly short-term and they have to be paid back on your next payday, unless if you ask for an extension. Additional interest will be charged in that case. The process can also be as fast as applying for a credit card cash advance. In order to get your payday loan, you need to write a postdated check for your lender with the amount you will be borrowing, plus fees if applicable. Your lender will send the fund directly to your bank account and will then cash your check when your payday comes. These days, some lenders will let you sign an arrangement for automatic payment to their bank accounts.

3. Merchant Cash Advances

Merchant cash advances relate to loans received by merchants or businesses from lenders or banks. Businesses with inadequate credit use cash advances to support their activities. In some cases, their advances are paid with impending credit card notes. Sometimes, their advances are also paid with a percentage of the funds they receive from their sales.

There are other types of cash advances available in the market. However, the common features among all of them are their high interest rates and fees. A cash advance is a quick and easy way to save you from emergency bills.

3 comments

rick d mccoy

need to get 200dollar cash advance

rick d mccoy

need a 200 dollar cash advance

rick d mccoy

do i have someone who will offer me a cash advance

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