Its no secret that Payday Loans are expensive. Payday loan fees
and interest are about 5-10 times more than that of a credit
card. The benefit to using a payday or cash advance loan is that
you can get the cash fast and the loan approval process is
relatively quick. There is no credit check, so that's one less
obstacle to overcome. But it is important to get the cheapest,
lowest fees you can when you do get a payday loan.
Here are some tips to help you get a cheap payday loan:
Compare 3-6 Payday Loan Companies Before You Decide - Payday
loan companies fees can vary greatly. Make sure you compare
multiple lenders before you decide. Even if the company says
that they have the lowest fees. Don't take their word for it.
Read The Fine Print - When comparing fees from payday lender to
lender make sure to read the fine print. When they say their
fees are $10 per $100 borrowed, find out how long that is for.
Is that for a 14 day loan or is that per week? Make sure you
know how much each company is charging per 14 day period, per
Only Borrow What's Necessary - This is not the time to get a
little extra cash "just in case". Payday loans will always be
available. If you do end up needing more money you can borrow
more from another company. Only borrow the bare minimum that you
think you will need. It would be tremendously wasteful to end up
borrowing more than you needed, to pay the interest on money
that sat in your account and then you just turned around and
gave it back to the lender.
Borrow For The Shortest Amount of Time Possible - Ask about an
early payoff. Does the lender allow you to pay the loan off
earlier than expected if you are able to? Make sure you can, you
don't want to be paying extra interest on money you no longer
How Do I Qualify for a Loan?
Loans are the single most common source of funding, whether for
purchasing a home, financing a business, paying off debt, or
financing a college education. Before approaching a lender to
see if you qualify for a loan, whether your credit scores...read more
Bad Credit Personal Loan and Bad Credit Loans
Bad credit personal loans are widely available these days. These are personal loans marketed to individuals with a poor credit score or poor credit history. A bad credit personal loan can be obtained through a lender who specializes in bad credit...read more
Mortgage Loans 101: Who or What is Freddie Mac?
Freddie Mac can help you obtain a home mortgage loan.
But while Freddie Mac might sound like a generous uncle, it's
more closely related to Uncle Sam. So what is Freddie Mac, and
how does it help you when buying a home?
Freddie Mac is...read more