Cash Advance Requirements — Online vs. Retail Strore
Article by Ryan Hupfer
It’s hard to even believe that just a few years ago there was no such thing as going online. It’s amazing to think how far we’ve come in such a short time and all of the things that we now trust the Internet to take care of for us. Personally, I do all of my banking online, a majority of my shopping online, I talk to all of my friends online and the web has become my go-to place to get fast and up-to-date news. Yes, I am definitely a person who looks online for practically everything.
Well, then it should come as no surprise to you that when I started doing some research of cash advances and payday loans that looking online was the first place that I checked. What I found was all types of online-based lenders that I had never heard of and that were offering everything from a 30 day payday loan to an overnight cash advance and to tell you the truth, I wasn’t really sure what to believe when I began to visit each of their websites. I almost felt like I should just go to the payday loan retail location that was down the street from me so that I could at least talk to someone face-to-face about my options. This got me to thinking about what the benefits were of going online for my loan vs. going to a retail store, so as I continued to look around I made sure to make a list of the differences, both good and bad, between the two different cash advance options.
Now, I don’t have the perfect advice for you when looking into cash advances, but I have taken some time to dig a little bit deeper into what each type of lender can provide and what each one’s restrictions are. Hopefully this information will help you figure out which way you want to go with your upcoming loan.
Both online and retail lotions both offer the same range of money avaiable, which is usually is from $ 100 – $ 1500.Both online and retail lenders both charge the same types of fees and I’ve found that the most common amount of fee is $ 10 for every $ 100 that you borrow, but I’ve also seen that get all the way up to the $ 35 range.If you want a cash advance really quickly, then your best bet is to go to a retail store because they can approve you on the spot, which means you can literally walk out with the money you need.Some online lenders can provide some more creative ways for you to pay back your fees, such as only charging you for the time that you actually need your money as opposed to simply implementing a flat fee.Many online lenders have seemed to get a bad rap (see Magnum Cash Advance Scam), but be sure to make your own decisions after you do your own research.Usually the fastest that you can get your money from an online lender would be first thing the next business day.
So, as you can tell, both of these are good options, but you need to decided for yourself which one you feel most comfortable with. Also, one last thing to remember is that you should only be using this type of payday loan financing when you absolutely gave to, like in a cash flow emergency, and be sure not to make a habit out of it.
Ryan Hupfer loves to write about all different types of things including finance, technology and web-based business.
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