Home - Mortgage Loans | Personal Loans | Bad Debt Loans | Foreclosure Loans
Apply for a Loan | Best Auto Loans | Best Bad Credit Auto Loans | Best Bad Credit Loans | Best Bill Consolidation Loans | Best Cash Advance Loans | Best Credit Cards | Best Credit Repair Tips | Best Debt Consolidation Loans | Best Free Credit Reporting Tips | Best Home Equity Loans | Best Mortgage Loans | Best Pay Day Loans | Best Personal Loans | Best Products on the Internet | Best Unsecured Loans
Great Financial Advice
Apply for a Loan
Latest Financial News
Rate Lock Advisory
Best Products
Join Our Mailing List
Contact Us
Loan Articles Index
Auto Loans
Bad Credit Auto Loans
Bad Credit Loans
Bill Consolidation Loans
Cash Advance Loans
Credit Cards
Credit Repair Tips
Debt Consolidation Loans
Debt Reduction Loans
Foreclosure Loans
Free Credit Reporting Tips
High Risk Loans
Home Equity Loans
Home Loans
Lawsuit Loans
Mortgage Loans
Pay Day Loans
Personal Loans
Products on the Internet
Real Estate Services
UK loans
Unsecured Loans
Loan Article Index
Loan Articles A-G
Loan Articles H-Q
Loan Articles R-Z
Mortgage Calculators
Mortgage Calculator
Mortgage Amortization Calculator
Rent vs. Buy Calculator
How Much Can I Afford Calculator
Auto Payment Calculator
Click here to Sign up for Email and Newsletter


redhotloantips fat loss

Quick Personal Loans - Should You Get A Payday Loan?

Written by: Carrie Reeder

A payday loan is a quick personal loan without the credit checks of traditional forms of credit. It offers you a quick fix for financial emergencies, but it shouldn't be used for long term credit. Other forms of financing offer better deals.

Should You Get A Payday Loan?

The answer is "yes" if it will help your situation. Late fees on bills and credit cards can often add up to more than the fees of a cash advance. NSF and merchant fees snowball to outstanding balances. So in cases when the finance fee is less than expected late fee costs, consider taking a payday loan.

There are also cases when the costs are larger than late fees. For example, car repairs can result in a loss of job. In this case, paying the fee is better than losing your income.

Payday Loan Advantages

The chief advantage of payday loans is the fast service. With online lenders, your application can be approved in minutes with cash sitting in your account the next day.

There are no hassles with your credit score as long as you have steady income. With faxless lenders, you don't even have to worry about finding copies of pay stubs or bank records.

When To Say No

Payday loans aren't for every credit situation. Large purchases or splurges are better put on a credit card with lower rates. Even better would be to pay cash for such items by saving each month. While interest rates seem small for short periods, they can add up over months.

If you are finding it hard to meet basic expenses, then a better option would to seek help from a credit counselor. They can help you devise a monthly budget and present financial strategies.

Other Credit

Other forms of credit are better suited for large purchases. Credit cards can be approved within days. Some offer introductory low rates or other incentives. A line of credit can also allow you to pay for major expenses with relatively low rates. However, a lender will look at your credit score and other financial factors.

So when considering a payday loan, look at all your options. Payday loans offer quick cash with no credit checks, helpful during emergencies.

About the author:

See my recommended Quick Payday Loan companies online with the lowest rates. Carrie Reeder is the owner of ABC Loan Guide, which offers help with loans for people with bad credit.

Other Related Articles:

Taking the Time to Find the Best Loan Offers
When you're looking for a loan, it might seem easy to simply accept the first loan offer that you receive. While it's true that you might receive a good deal on a loan this way, there's an even greater chance that you'll end up missing out on...read more

Loans For Bad Credit
Personal debt in the UK has soared to record levels over the past few years. The Bank of England has recently confirmed that personal debt on a national level now amounts to more than 1,065 billion. Recent media reports suggest however that...read more

Ten Ways Start-ups Use Venture Leases And Loans To Generate Millions
The rise of venture leasing and lending has created an opportunity for sophisticated entrepreneurs to gain a competitive advantage. Savvy entrepreneurs are using venture leases and loans to generate millions of dollars for shareholders by leveraging...read more

Return to Home


Best Auto Loans, Best Bad Credit Auto Loans, Best Bad Credit Loans, Best Bill Consolidation Loans, Best Cash Advance Loans, Best Credit Cards, Best Credit Repair Tips, Best Debt Consolidation Loans, Best Debt Reduction Loans, Best Foreclosure Loans, Best Free Credit Reporting Tips, Best High Risk Loans, Best Home Equity Loans, Best Home Loans, Best Lawsuit Loans, Best Mortgage Loans, Best Pay Day Loans, Best Personal Loans, Best Products on the Internet, Best Real Estate Services, Best UK loans, Best Unsecured Loans
Subscribe to Mailing List | Private Policy | Unsubscribe | Site Map