A Short Guide to Cash Advances | National Payday

National Payday Loan Blog

Curently in the Lead:

A Short Guide to Cash Advances

In no uncertain terms, money and its management is one of the most frustrating tasks you will ever attempt. It always seems that even though we try our hardest to budget for the things we need, we are somehow short and this causes severe frustration. Under normal circumstances, we just grin and bear it, but not anymore. Thanks to cash advances, we are able to borrow money, hassle free, based on future earnings. There are countless online cash advance companies who allow consumers to borrow money with no credit check or collateral, although they may use other reports to verify your eligibility. All you need is a steady job and a checking account; it’s that simple and that easy.

Have you ever tried to get a conventional loan? They check your employment history years into the past, as well as where you’ve lived and your credit history. This process can take days, but all you really need is a few hundred dollars to get you through until your next paycheck. With a cash advance, there is much less work involved for you to get a hold of the emergency funds you need. After you have been approved, the money can be in your account as soon as the next day!  The first loan is often free as an added incentive; this is a nice bonus and will save you the headaches that come with financial worries. Once you have established a history of repayment with an online cash advance company, obtaining future loans with the same company becomes a simple, expedited process. While no one wants to take out a cash advance, it’s good to know that if you have to, there is a safe, fast and easy way to get the money you need in a pinch.

Answering Your Questions about a Cash Advance

A cash advance can be helpful to an individual in a financial crisis. Many people do not understand exactly what a cash advance is or how it works. Here are some questions and answers that can help you learn more about payday advances.

Q: How much money can I get until my next payday?
A: A cash advance can provide you from as little as $100 to as much as $1000. The amount of money you are approved for depends on your monthly income, length of time at your current job and if you currently have a cash advance loan.

Q: How long does it take for me to get my cash?
A: Approval will typically take 30 minutes or less since no faxing or credit history is required; though we may use other resources that many lenders use to help determine that you meet our qualifications. The money should show up in your account the next day and be immediately accessible. This process is typical for a payday advance requested during normal business hours, Monday through Friday.

Q: What requirements do I have to meet for approval?
A: You must be at least 18 years of age with a valid drivers license or state identification card, have a savings or checking account that is in good standing, be employed full-time (some companies will require at least six months of employment) and make at least $1000-$1200 per month; though this amount will vary from company to company.

Q: How do I repay the loan and get the money from the loan?
A: Once a payday advance has been approved you will be sent terms and conditions to sign. The terms and conditions will allow you to authorize electronic transfers as well as inform you of how much cash you’ve been approved for. You will also be informed of when money will be transferred out of your account for loan repayment and an estimated time of when your money should be in your account.

Why would I ever get a cash advance?

A fair question seeing as most people try to avoid getting into tight financial situations. Unfortunately, life is rarely fair and surprise expenses pop up when you least expect them. Some scenarios in which a cash advance might be useful are:

  • Your car breaks down in between paychecks.
  • Your bills are due, but you won’t have the cash to cover all of them until your next paycheck.
  • You need a little extra cash for the getaway you are planning to take.
  • You get a traffic ticket or are arrested and need bail money.
  • It’s embarrassing to ask your friends and family for money.
  • You’re short on your tuition bill.
  • The holidays are coming, and you need the extra cash for gifts.

No matter what the reason, a cash advance is a great solution for your short-term monetary emergencies. You get your cash fast and can use it for anything that you need. Nobody wants to have to use a cash advance company, but it’s reassuring to know that help is there for you when you need it most.

Leave a Comment

comments

disclaimer