Cash Advance

Welcome to our Cash Advance mini website. Here we provide the information you need if you are seeking an online cash advance loan. Here you will find a listing of popular online cash advance sources, additional resources for information about cash advance type loans, alternatives to cash advance loans, a chat room about cash advance loans and related topics, along with the current news about these type of loans.

Here you will also find our Personal Finance Book Store. At our book store you can find an assortment of books about many aspects of money management. Our book store is ideal for the individual who wants to learn more about how to better manage their money.

Cash advance loans are also referred to as Fast Cash, Quick Cash, or Payday Loans and their popularity has increased tremendously over the past few years. Before discussing some of the details about cash advance loans, it should be stated at the outset that these type loans should only be obtained if you are in an adverse financial situation and there is truly no other alternative, and the amount of money you need is no more then around $1500.00. Lets examine why.

To begin, these loans are very expensive, and the fees are quite high. These loans are meant to be paid back right away. When annualized, most of these loans would come to around 500% APR. The fees can vary, but the fee range is from $10.00 to $40.00 per $100 of money borrowed. Therefore, do not even think about getting this type of loan unless you are able to pay it back right away.

If the customer decides to hold off paying right away and decides to roll over the loan for a few more weeks, he or she ends up paying additional fees. Because of the rollover option with these loans, you could end up paying as much as $30 in finance charges on a loan for $100.

This is not to say that these loans should never be obtained, simply because some people get in a financial bind due to no fault of their own, and a quick, high interest loan may be the best and in some cases, the only viable alternative. For example, many credit card companies will apply a higher interest rate for future payments if a bill is not paid. So if you are unable to pay your credit card bill, it may be cost-effective to obtain a cash advance loan. Some people also want to avoid damage to their credit rating, due to non-payment of a mortgage bill. A $20 to $40 fee per hundred dollars borrowed could be a viable alternative to a higher credit score. So their are legitimate reasons as to why someone would want to obtain this type of cash advance loan.

The advantage to this type of cash advance loan is that if you have bad credit, you can still obtain the loan because the lender does not perform a credit check. The requirements for this type of loan are very basic and usually only require you to be working, making a minimal amount of money per month, and you need to be 18 years of age. The minimal amount of money that you need to be making varies between lenders, but is usually around $1200 per month. Some require you to have access to a fax machine. Usually the only other requirement is that the individual has a checking account so that direct deposits can be sent to the account.

But it should be noted that with slack requirements by the lender, the lender needs to cover the cost of people not paying back this cash advance type loan, and concomitantly still needs to make some profit. After all, the lender is in the business of loaning money in order to make money, but they need to cover the high risk associated with these type of loans. Because of this extra risk taken by the lender, they need to apply a very high interest rate on these loans.

The point being, if you do not have bad credit, you may be better off securing a loan from your local lender and not pay the super high interest rate associated with cash advance type of loans.

Fees per $100.00 of loan, and length of term of the loan can vary. The lenders are competitive and it is imperative to do your homework, and find the best terms for the type of loan that you want to obtain. Lenders usually charge a flat fee of around, $30-$40 per hundred dollars borrowed, per term length. A longer term can give you a lower APR. Terms length are usually 2 - 4 weeks. So when looking for the best lender, look at length of term and cost per $100.00 of loan. Look for longer term and lower cost per $100.00 of loan. In some cases. the amount that the lender will loan is dependent on the state in which you reside.

Cash Advance - Listing of Online Resources

Company	Maximum Loan Allowed	Website Link
FindMyPaydayLoan.com	$1500
NeedACashAdvance.com	$1500
Piggy Bank Cash Loans	$1000
Fast Internet Loan	$1500
Superior Payday Loan	$1500
One Hour Cash	$1500
PayDay One	$500
Secure Cash Depot	$1500
Nationwidecash.com	Find out when applying
AmeriCash Advance	$1000
Sonic Cash	$500
Fastbucks.com	$100 - $500
CashAdvance.com	$100 - $500
Advance America	$100 or more
Payday Loan Affiliate	Up To $1500
CashNetUSA.com	Up to $750
Credit.com	Up to $1,000
Fast Payday Loans	$500
Nationalpayday.com	Up to $600
Women’s Payday Advance	$1500
AdditionalEarnings.net	$1500
maximumwages.net	$1500
silentcashloanss.net	$500
UrgentCashRelief.net	$500
CheckCashCentral.net	$1500
InstantPayEnrollment.net	$1500
Payday Loans ABC	$1500
Cashadvancecentral.com	$1500
Cashloanbyphone	Up to $1000
Pacific Cash Advance	$100 to $2,500
CashApply.com	up to $500
Allied Cash Advance	Find out when apply
CashAdvance.net	$1000
CashAdvanceNow.com	$500
Check Into Cash	$100 to $1,000

If you own a cash advance company, you have a website, and you are not on the above list, go to the about page on this site and send me your URL and the amount of loan you can offer, and I will include you on this list.

As stated previously, the draw back to these cash advance loans is that they are very expensive. You should only secure this type of loan after you have looked into all the possible alternatives. So what are the alternatives to cash advance loans.

Cash Advances - Viable Alternatives and What Not to Do

• As previously stated, if you have good credit, look for a loan from a small local loan company or a credit union. Sometimes forgoing your pride and asking for a loan from a friend or family member may be a better alternative. Just make sure you pay them back following the terms you agreed to. A sure way of losing a friend or creating a life time of distrust with a family member is to not pay them back. So be sure you have the means by which you can pay them back.
• It is essential that you try to work with your creditors, and try to set up some type of payment plan which satisfies them, and one in which you can follow through with.
• To prevent the adverse financial situation from occurring in the first place, try to always save some money on the side so that you have some financial buffer or back-up if you, for whatever reason, can not pay your bills. Only spend money on those things that you really need. To pay high car payments while barely being able to pay your rent or mortgage is an example of lack of frugality, and it is this type of thinking which may get you in financial trouble in the future.
• Check with your bank if you can get overdraft protection on your checking account. Overdraft protection can help protect you from further credit problems.
• Consumer credit counseling services should be contacted if you are having trouble working out a debt repayment plan.
• If you need to get a cash advance loan, only borrow what you can pay back with your next paycheck.
• Obviously never use a loan shark. A loan shark is a person or body that offers illegal unsecured loans at high interest rates to individuals who were unable to obtain a loan through the normal respectable means. Non-payment or late payment may result in blackmail or threats of violence. No money is worth your life.
• Avoid getting a cash advance on your credit card. You’ll pay a sky high interest rate, 20 to 28 percent, depending on the card, and there’s no grace period.

Cash Advance - Conclusion

So as you can see, there are alternatives to cash advance loans. But if you have explored your alternatives and their appears to be no other viable option, shop around for the best cash advance loan and study the requirements of the loan. Read carefully the terms and conditions section of their website. Only obtain a cash advance loan if you can pay it back right away, and if you can afford to pay the high interest and fees.

For many people, obtaining a high interest, high fee loan is better then damaging their credit rating. A cash advance type loan may also be better then paying a high interest on future credit card payments. If you are really not sure what to do, look into consumer credit counseling services, and they may provide you with alternatives that are not mentioned here and some that you may not even thought of. They may even advise that, given your financial situation, a cash advance loan is the better alternative.