Fast Cash Advance Loans

Are fast cash advance loans also known as payday loans worth the cost? Well that largely depends on the situation. There are many instances where this type of short-term loan makes financial sense however there are also many times where it is a bad decision.

When does a fast cash advance loan not make financial sense?

Payday loans are designed to solve short-term cash flow problems and should be paid back as soon as possible. You should only get this type of loan if you desperately need fast cash. You have to separate your needs from wants. If you want money before your next payday to make purchases on material items than you should just wait until your next paycheck.


When does getting a fast cash advance loan make financial sense?

A basic rule of thumb to use in that if the cost of not getting the payday loan exceeds the cost of the finance charge on the loan then it makes financial sense. Late fees on credit cards, mortgages, car payments, and bounced checks all carry fees which range from $25-$75 and can easily surpass the finance charge on the payday loan.

Unexpected events happen all the time in our lives that leave us in desperate need for fast cash. Whether it is an automobile breakdown, a death in the family, unexpected bills, or a hospital visit, these things happen and often times we don't have enough money to cover the initial expenses. This is where a fast cash advance loan can be a big help.

Before taking out a payday loan it is important to realize that these short-term loans carry above average interest rates and should not be overused. They are however a great fallback option when you are experiencing short-term cash flow problems and are wanting an advance on your paycheck.

You must be at least 18 years old and working at a job that makes at least $800 per month to qualify for most payday loans. Most lenders also require that you have a checking account that allows direct deposit. This is so they can easily deposit funds directly into your banking account and remove them on the agreed upon payback date.

Most online payday loan lenders can deposit your requested funds directly into your banking account withing 24 hours of your application. Retail outlets may take longer depending on your situation. Again, make sure you really NEED a fast cash advance loan instead of just WANTING money before your next payday.

Instead of waiting in line at your nearest cash advance location it is much easier to apply for a loan online. Using a matchmaker service such as CashAdvanceSelector.com is the most convenient way to obtain fast cash before your next payday. They are one of the biggest and most respected payday loan matchmakers in the industry. It is a completely free service and typically customers are able to get a better rate than going directly to a lender because multiple lenders are competing for the loan rights.