Instant Cash Advance
It happens to many of us – we encounter a situation where we need cash immediately. Obtaining an instant cash advance is an obvious solution – but from where? Possible sources include credit card cash advances or an advance on your paycheck from your employer. Some desperate borrowers may consider an instant cash advance from a payday lender. But instead of maxing out your plastic or possibly putting your job at risk, why not consider a better than a bank loan from LoanNow?
Getting an instant cash advance from one or more credit cards can be as simple as a trip to the closest ATM. No lengthy applications, no embarrassing questions about why you need or want the money – as long as you have funds available on your credit limit, you’re good to go. But unlike purchase transactions, credit card cash advances often have no grace period, which means that interest charges begin to accumulate from the minute you receive your cash. And those interest rates are significantly higher, too.
Paycheck Advances from an Employer
If your child is seriously ill or a tornado has flattened your house, you’re likely to get a sympathetic reception from an employer if you request an instant cash advance against your paycheck. If you’re asking for the money to cover a gambling debt or to pay an attorney retainer to fight a DUI charge, probably not so much. In fact, if you request a cash advance from an employer for circumstances that don’t qualify as a genuine emergency, you may be putting your job at risk because your employer may begin to question your overall judgment.
The Payday Loan Trap
For borrowers without the option of obtaining credit card cash advances or an advance against a paycheck from an employer, payday loans may represent one of the few alternatives for obtaining an instant cash advance. But payday loans are wolves in sheep’s’ clothing. The lax credit underwriting and convenience of payday loans is more than outweighed by their sky high interest rates and unrealistically short repayment periods. Many borrowers find themselves unable to repay their loans when the original repayment date arrives – triggering a cycle of partial payments and rollovers that can persist for months, if not years.
LoanNow – the Better than a Bank Loan
You don’t have to risk the disapproval of your boss or max out your plastic to get the money you need. LoanNow features fast application processing and manageable repayment periods. It’s really the best of both worlds!