Tag Archives: cash
Save Money Do Not Borrow it on your Credit Card
Lets face it we have all been in a position where we have needed a little hard cash depending on if it is at the end of the month or a unforeseen bill that needs paying straight away. However before you go off down to the ATM and take that cash out on your credit card, lets just take a look at the reasons why you should be careful before borrowing from the credit card company.
Firstly every time you take money out of the ATM the fee for that money comes into play immediately. The cash advance that you are thinking about can have between 2 and 4 percent Higher interest rate than your regular credit card rates.
Not only will you be charged by the credit card company for borrowing the cash you will also find that you are charged a percentage by the ATM vendor. Those handy little ATM’s in the gas station can charge up to 1% to give you the cash! That is an extra 1% you have to pay to get that money.
Confused? Ok let us take a quick look at how this all works:
You see on a market stall a fantastic stereo that you have wanted for ages. The vendor being a street trader would prefer it if you pay in cash (lets face it if you use your card there he gets charged for the fact that he is using the credit card companies facilities). You decide you must have it so you go to the ATM and draw out $200 on your credit card.
This cash will be the last thing that your credit card company lets you pay off the card. So if you have $500 on your card and you take a further $500 out at the higher rate of interest as it is cash, you will pay that rate of interest until you reach zero balance even if you pay off $500 the next day! So you will still end up paying over the odds to borrow that money.
Eventually when you hit the zero balance you will notice that you have over the time that you borrowed the money been charged three times. Once by the ATM where you got the money from. Once by the credit card company for taking the cash option and once more by the credit card company who will charge you a higher rate of interest for the privilege of having cash in your hand.
Is it really worth it to get something a few days early?
They Do it Faster in Australia
When strapped for cash, Australians have a better chance of surviving. This is because of the existence of online payday loans. These are some of the most innovative quick cash sources in the world. While still in their pyjamas or in the car stuck in traffic, Australians can borrow cash quickly. Because everything is done online, they dont have to dress up in order to file an application. All they have to do is be on the computer and fill up the application form. The entire process takes five minutes tops.
Approval does not take long. Believe it or not, it takes only 60 minutes. With other countrys payday loans, applicants have to count the days. If they need money as soon as possible, they have to wait in misery. But not in Australia. Applicants dont even have to waste any of their time. After the five minutes application, they can spend the 60 minutes doing whatever they want. Some can even turn their attention to their coffee or meal. Some can even go back to their work or chat with a friend.
After several minutes, they will get a confirmation stating that the money has been deposited in their accounts. It is that fast! With a very quick service such as these Australian payday loans, do people have time to worry? No, in fact, they dont even have to think about their money problems at all. Because they are surrounded by fast payday loans, money problems are not even worth as bumps on the road.
It does not stop there. In Australia, they have an SMS service for payday loans. It is totally unbelievable but not when people are in the Land Down Under. The top team of the lending industry competes for excellence and swiftness of service. That is why they offer instant cash using only mobile phones. With one simple SMS, Australians can automatically get cash in their accounts. What is so hard with SMS? Nothing. It is as simple as sending a simple “hello” to a friend. It is as fast as replying “yes” or “no” to a colleagues question. This is a no-brainer of borrowing. When they need money, they are provided within minutes.
In Australia, quick payday loans are the best way to be. No more hassle-filled bank loans. No more long lines for application. There is only instant cash anytime, anywhere.