The Best in Cash Advance
The term cash advance refers to receiving an advance on a loan
or a short-term loan until you receive your regular pay. If you
have a credit card or a line of credit, you can obtain a cash
advance either at the bank or through an ATM. This helps to tide
you over until you get your regular pay in the case of
emergency. It gives you the cash or funds that you need right
away. When you receive you statement, you can choose to repay
the full cash advance, or you can just make the monthly payment
stated. If you pay it off in full, you will not have to pay
interest charges on a cash advance over a period of time.
The term cash advance also refers to payday loans that you can
get from certain businesses that specialize in short term loans.
These small loans generally do not exceed more than five hundred
dollars and they must be repaid in full by the time you promise
to pay. Due to the fact that they are only short term and
unsecured, the interest rate charged on these cash advance is
fairly high. Therefore, you should only use them if you
absolutely have to.
A cash advance is a quick way to get cash in a hurry. IF you
have available credit on your credit card or line or credit, it
is not a problem as no approval is necessary. IF you have to get
a loan for a cash advance, you may have to wait a day for
approval and depending on your credit record, you may get
approval within minutes. The main thing to keep in mind is that
you have repay it on time so you have to make sure that you will
be able to afford the payment without leaving you short of funds
again, this starting the cycle all over again.