Are you desperately in need of fast cash? Well, if that is the case, then you have two choices in front of you. The first option is that you can go for payday cash advance, and the second option is that you can opt for the credit card cash advance.
When we look at the payday cash advance and credit card cash advance, then both these options are short-term loans that you can get in a financial crisis.
Payday Check Advance
When you want to get a payday check advance, then as a borrower you need to give a post-dated check to the lender. The check will include the amount that you wish to borrow. This borrowed amount will include the interest. Plus, it will include the additional fee that you may need to pay in case of payday check advance.
You have to return the payday check advance in a matter of two weeks,or you may have to return this amount on your next payday.
Credit Card Cash Advance
Now, when we talk about a credit card cash advance, then it is the amount that you borrow against your credit limit. You have to pay the additional fee when you decide to go for the credit card cash advance. Plus, the interest rate is about 8.5% higher in comparison to your credit card purchases.
When you have to acquire cash advance on your credit card, then you can make use of your pin at an ATM. What you need to keep in mind is that you credit card cash advance directly relates to your credit card. In short, your credit card cash advance requires credit check approval.
You can pay back the credit card cash balance over a defined period of time, but it is essential that you keep making the minimum payments. The concern of most borrowers is their credit card cash advance limit. You can withdraw money up to your cash advance limit.
Most people confuse credit card cash advance with Payday check advance. Both the options are not the same. When we talk about payday check advance, then it does not require a credit check at all, and you have to pay this amount directly to your payday loan store.
It can be a tough decision to decide whether to opt for a credit card cash advance or payday cash advance. It is critical that you make your decision in the light of facts. Many reputed payday loan sites offer a low-interest rate to those customers who borrow on a frequent basis.
If the borrower makes prompt payments, then there is nothing along the lines for the company, so it welcomes such borrowers. Ideally, you should avail this facility when you need fast cash instead of opting for a credit card cash advance.
When you want to avail payday cash advance or credit card cash advance, then it is vital that you should check your eligibility for a cash advance as well.