Tips for Speedy Payday Loans Online or Locally
But how speedy can speedy payday loans really be? Is it instantly or just “almost” instantly? The speed of payday loans differs on many factors, such as how fast you complete the requirements and how speedy the lender is. Most of the time, it also depends on the type of loan lenders.
Speedy cash advances from credit cards
Perhaps the speediest cash advance loans can be taken from your credit card, but only if your credit card offers cash advance loans. If it does, then all you have to do is use your credit card to withdraw money from any compatible ATM machine. Simply use it as if you are using your account on an ATM card. Just enter the needed secret serial number and instant speedy cash will be given out to you.
Although speedy, you should still keep in mind the uniqueness of getting a cash advance from credit cards. Take note that not all credit cards offer speedy cash advances, and you should be sure that your card offers this kind of service before you go to an ATM.
If your credit card allows a cash advance, you should still learn how much the ceiling amount for your account loan is because it can be the same as your credit limit. However, it may not be the same, especially because the interest rate has to be added to the total bill.
The interest rate of every speedy payday loans from credit cards is 20% annual rate per annum. That is only about a 1.67% interest rate every month or 0.83% every two weeks. This payday loan will be included to your usual credit card billing and has to be paid along with your other credit card expenses.
A credit card advance can be the speediest of all speedy payday loans. Unfortunately, not every credit card holder is entitled to get cash advance. That leaves other people with no other choice, but to deal with a local or online speedy payday loans lender.
Speedy Cash Advances from Payday Loan Companies
First, find the best loan lenders with the best speedy payday loans. Ask friends and people you know if they have a speedy payday loans review. Choose a lender that is reputable and does not offer too high of an interest rate or ridiculous payday loan terms. The reasonable interest rate and terms of most speedy payday loans lenders is 10% to 20%, and is payable for two weeks.
Once you have chosen among the loan lenders, you can go to the office and fill an application form. The basic qualifications are:
You might need documents to prove that you are qualified, such as your latest pay slip, company ID, and your banking account. You must submit the needed documents along with the filled form for approval.
The loan lenders will also check your credit history in terms of short-term loans using your Teletrack record. The lender will decide based on that record whether to grant you the payday loan or not. If granted with your account loan, first-time borrowers are allowed for up to $1,500, while old clients can borrow more. If approved, you will get your money, and a document stating that you agreed to pay the specified interest rate on or before the specified due date must be signed.
Overall, this process will take an hour or more depending on how quickly you can fill the form and compile the documents. The speed will also depend on if the lender has a speedy payday loans process.
Speedy Payday Loans Online
The speedy payday loans from traditional payday loan companies may not be that speedy if compared to online payday loan companies. Within an hour, you can receive your money from loans online.
The only problem with loans online is that these are more prone to scams. The number one rule is to never give any payment upfront to the lender. If they ask for money before giving you the speedy cash, then it is a clear sign that the speedy payday loans are only scams.
This is why you need to check the name of the website and the lending company with the Better Business Bureau before making a deal. Also, read loans online posts about the company to know if it is a scam or not.
If you feel comfortable with the lender, then go ahead with the application. Sign up for your account, fix your profile, and submit the online application form. You will receive a reply almost instantly, and if approved, the money will be sent to your account.
The payment for speedy payday loans will not be made until your next payday, in which online loan lenders will take the full payment from your debit card. Local loan lenders will instead often ask for a postdated check for repayment, or you will go to their office to pay personally. Whatever the process of payment is, you must do it on or before the due date, or your debt will grow.
When time is of the essence and you have nowhere else to turn, taking advantage of speedy payday loans will make your day a little easier.