Fast Cash Before Christmas - Why a Cash Advance Could Be Better Than Adding to Credit Card Debt

A pay day loan usually meets short term financial crisis. Many consumers turn to the payday loan industry as this is the most convenient method to get a short term loan. This loan industry is also gaining widespread popularity in the market. With the festive season being around the corner, the expenses of an average American is crossing the threshold.

Whenever you need fast cash before Christmas you can probably opt for a quick cash loan. There is absolutely no hassle in getting the money. Any American citizen with a source of income is eligible for such a scheme. These loans are meant to be paid off by the next payday.

A cash advance is a better option than adding to credit card debt-Why?

Many people feel that a cash loan is better than adding to credit card debt for some basic reasons. Let us evaluate them separately.

-If you were to get cash for a loan from your credit card company you would have a minimum payment due each month until the loan is repaid. Credit card companies charge an average of 29% for a cash advance that will take consumers nearly a year to pay back. Thus you would be in debt for a prolonged period of time.

-On the other hand a simple payday loan is for a short duration with simple repayment terms. On an average the interest rate of a credit card loan is usually much higher than a quick cash loan. You may have heard that payday loans usually have a high interest rate or an APR that is much higher than a credit card loan. This is only true if you hold out the loan for nearly a year. Normally no one does this because the loan amount is usually less. So whenever you need fast cash before Christmas you can opt for a quick cash loan.

-There is no background check or credit check on a cash advance loan. But a loan on a credit card usually asks for repayment of the previous loan amount. The processing time also differs between the two types of loans.

Need fast cash before Christmas. The ideal answer is to opt for a quick cash loan. The cash gets deposited into your bank account within the next 24 hours after application. You can also review the following points discussed above and opt for the best solution.

If you need fast cash then an online payday loan can be the most convenient way to get money quick. Instead of going directly to a particular lender it would wise to get multiple quotes. There are websites which allow you to get multiple quotes from several lenders. These sites make the lenders compete for your loan and then you can choose the lender who offered the best deal. Check out the following link to quickly get multiple quotes: