1. Payday Loans protect your credit score
When in a tight credit crunch, such as most people in the current economy, consumers are turning to use payday loans to help prevent being late with their credit card payments. Being late on credit card payments can lead to high fees. Also, if you use your credit cards and keep them full your cumulative interest will be pretty high over a long time.
With a payday loan which is the same as a cash advance you typically pay the loan off rather quickly. Unless you choose to take out an installment loan which are basically unsecured personal loans. This site allows lenders to compete over both Payday Loans and Installment Loans to help make sure you get funded with a very good rate. Save your credit cards and use them only if you must.
2. Payday Loans reduce foreclosure rates
Payday loans provide useful assistance in helping reduce foreclosures in the current economy. Instead of using a payday loan to buy new toys, consider it as an often overlooked backup plan to keep your home finances afloat. Using an online payday loan can be a life saver when it comes to making your mortgage payment under financial pressures of any kind.
3. Payday Loans increase your access to cash money
Greatly increasing the total amount of open capital or cash available to US and Canadian households who come into contact with the method of short term financing called “Payday Loans”. Households who need extra money are now finding it easier to stay afloat in this economic environment. Get the extra cash you need by clicking here to apply.
4. Payday Loans can lower overall family stress
Need cash to lower family stress as a whole? Having an instant cash cushion in your checking account using payday loans is a common way of lowering financial stress. Potential of job loss, decreased hours, increased credit card payments or home loan payments can all add to internal family economic pressure.
With the availability of online payday loans and cash advances using the loan application process on this site, your family can sleep easier at night knowing that more personal capital is available to for direct deposit into your checking account.
5. Payday Loans typically do not require credit score inquiries
No credit check payday loans typically do not required hard credit score inquiries with this type of online loan. This keeps your credit score at a higher FICO than other loan types.
Every time you apply for a typical loan (not a payday loan, installment loan, or cash advance) your FICO score will go down a few credit points.
With a no credit check payday loan, which usually does not use credit checks, you will maintain a higher credit rating than you normally would. This may also assist in raising your credit score should you have bad credit or poor credit.
Don’t waste time applying with a bank for a personal loan requiring a credit check when you can have the extra money you need direct deposited into your bank account typically within 2 hours (upon approval).
6. Payday Loans can keep you out of collections
Extra cash in your pocket is a dangerous thing if not used properly in today’s economy, especially if you don’t use it to pay what you owe. Payday loans can be used to pay down your existing debt before it becomes delinquent, thereby allowing you to avoid interest on loans, late penalties and getting yourself taken to collections.
Pay off your debts before they end up in collections and save your credit rating and good name. If you are about to become behind on any payment a payday loan may allow you the extra money needed to save your credit score.
7. Payday Loans are hassle free with the No Faxing Policy
Faxless payday loans may allow many people who have internet access and a savings or checking account to instantly decrease economic worries using always-available cash. Many types of loans require proof of identity and that usually requires complicated faxing procedures. Typically that is never a problem applying through Loan Stop so start your application now!
8. Payday Cash Advances are a great alternative to credit cards
A payday cash advance is a useful way to help you afford many necessary types of expenses that may be beyond your normal budget. Why use a credit card for out of reach expenses when they allow balances to gain momentum causing your monthly payments to wipe your monthly cash flow out. This is due to the accumulation of minimum payments that often times never get counted toward the original debt. This makes payday cash advances a more sensible option for many.
9. Credit card minimum payments can cost more that an instant payday loan
Credit card adverse consumers are finding quick and instant payday loans to be a savvy alternative to credit card financing. The reasoning behind this is the “credit card pile up syndrome” most credit card holders fall into.
What this means is credit card users by vast majority will allow their credit card balances to pile up over time. The total amount of interest charged over the very long period that it takes to pay credit cards off, at the minimum payment (or even small percentages more), adds up to a huge amount of wasted discretionary income. The rather nice advantage to instant payday loans is the fact that you don’t pile up large balances.
Given this idea you are saving intense amounts of cash money by utilizing a small, one-time cost of borrowing money. Some folks who are moving over to instant online payday loans in droves do so as a credit management device to keep their cost of money down as far as possible.
10. Payday Loans are much cheaper than overdraft fees
Online payday loans or faxless payday loans used as an overdraft fee elimination method, in a home finance environment, offers a major advantage as a short term financial backup plan. During an economic crisis, writing a few overdrawn checks (even accidentally) can charge your checking account with overdraft fees that multiply rather quickly.
Overdraft fees from one weekend of overdrawing checks or debit charges to your checking account, can end up costing $40 to $500 or more, if enough checks are overdrawn. Using a payday loan instead of risking the overdraft transaction fees on your account can offer an attractive hedge of protection over your finances. An overdraft crisis scenario can snowball a home financial environment into negative territory very quickly making payday loans one of the best alternatives available to the average consumer.
Always remember not to overuse loans of any type and always know your financial limits.