Benefits of Advance Cash Online Payday Loans
Guaranteed bad credit payday loans are given to cash strapped applicants without running a credit check. This means that the loan is completely guaranteed to anyone who has a less than fair credit score. These types of loans are short term of around $1,000.00 with repayment plans usually ranging from two weeks to three weeks. Typically funds are deposited and withdrawn from the same personal bank account.
To qualify for consideration, applicants are typically required to provide proof of employment, a valid and active bank account, and some type of identification card or certificate like a driver's license or birth certificate. Aside from an easy application process, many people like the fact that online payday loans offer instant approval, accessibility to persons with bad credit, and automatic repayment.
Although there are an overwhelmingly large number of advantages to online payday loans, they can be quite expensive on the backend. Interests are high and usually range anywhere from 10% to 20% per $100.00 borrowed. All things considered, a payday loan can help to solve an emergency situation. However, as you've read, this could cost you at the end with the astronomical interest rate. Word to the wise, borrow only what you need and not what you want. It will save you a lot of time and more importantly money.