Avoid Wage Day Advance Mistakes

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Most people aren’t either aware of the term, PayDay loans. Pay Day Loans, or cash advances, are simply money loaned to you for a short term, usually 1-2 weeks. Unlike traditional loans through your local lending institution (bank or credit union), PayDay loans often are available without credit checks. You also don’t need to secure your loan, (with something of value such as a car, house, bank account, etc).

Let’s assume you want to make a payday loan for the amount of $300, the loan fee is of $17.50 per $100, and the loan term is 14 days. Therefore, in order to redeem the check you have to pay $352.50 when the 14 day period is over. You can pay it by cash or you can allow the check to be deposited at the back. If you still don’t have this money, you must pay the fee of $52.50 to renew the loan for another loan period. This means that borrowing $300 for a month will cost you $105. That’s not cheap at all! By comparison, a $300 cash advance on an average credit card, repaid in one month, would not cost you more than $15.

Gone are the days of having to go and grovel at a bank. Since we are talking about payday loans casa grande az, let’s see how getshortloan.com relates to it. With these personal payday loans casa grande az you complete the entire process online. There is no reason to be embarrassed. Now you can take care of your problem embarrassment free.

Quick cash finance is positive but online way of getting these funds has made it easier and simpler. Now, you don’t have to go to a finance company on your own; you can visit the official website of your preferred finance company. After that, you can see their terms and conditions and if you can go with them; your next task is to fill in the application. And it is all… you may have to wait for a few hours… it is too simple and straightforward to acquire your finances online. With these quick payday loans you can get instant cash within few hours while sitting in your own home! It usually takes 1 to 2 hours for the funds to be transferred into your bank account. In some cases, you may receive your funds within 4-5 hours but on the same day! Well, it is simply outstanding!

Almost all payday advance lenders will give you the short-term loan you need no matter what your credit score is. There are no limitations on what you can use the money for, so you can use it to pay the bills, buy a vehicle, or even go on vacation. What you use your loan for is your business.

Payday loans are attractive emergency solutions for a temporary cash crunch, but they can be risky especially to inexperienced borrowers or those with little control over their cash flow. Fees that may seem low and affordable can swell into a big amount in a matter of months. Some loans have an APR that can go from 300% to as high as 600%!

So why would you need to get hold of money so quickly? There are far too many reasons to go into detail with. Applications can come from people needing to pay a bill quickly, help friends and family or for a repair on their washing machine or car.

If all else fails you require the cash and no other source is out there and you decide to take a payday loan it is all important that you pay it back on the due date and avoid additional high charges.