Online Payday Advance

An online payday advance: What the devil is an online payday advance and do I need it?

Online Payday Advance

Do I need an online payday advance?

An online payday advance is a short-term, unsecured, small loan for people who are struggling to make it to their next paycheck. Maybe you have some unexpected bills or you have to pay your rent, buy food, and you just don't have the sufficient funds to cover these unforeseen expenses. It's at these times when checks start to bounce and you are hit with high overdraft fees. A payday advance loan offers you a way out, until your next paycheck, this type of loan will certainly not provide you with a long-term answer to financial hardship.

What are the requirements?

If you are feeling the squeeze and simply cannot meet with your financial commitments then you may be considering an online payday advance. Like everything in life, there are some requirements attached to these loans. Each lending company may have slightly differing requirements, but in general terms this is how they translate:

  1. You must have a job or proven regular income
  2. You are 18 years or older
  3. You have a checking account
  4. You are a US citizen or resident

You do not have to have good credit to be approved for these loans you just have to meet the above requirements.

How much can I expect to borrow?

The amount you will be able to borrow will depend on how much you earn. Loan sizes are usually between $100-$500 - in certain cases you can even find a no fax payday advance for upwards of $1500! If you are looking to borrow more you should consider an alternative loan that you can pay back over a longer time period. This is a short-term loan and you should not bite off more than you can chew. If you cannot repay the loan and fees within the agreed time period then you will slapped with further fees as the rollover interest rate could peek at 50%. That would entail paying $50 for every $100 borrowed.

Consider your options carefully!

We have tried to give it to you straight. Online payday advances are for you if you want to borrow a small amount and can realistically pay it back by the due date. If you are considering an online payday advance do your homework and borrow from a reputable company. Make sure you understand fully what you are getting yourself in for and only take the plunge if you can afford it!


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