Tag Archives: pay

Direct Lenders for Payday Loans

June 1, 2018   Auto Loans

With the industry growing larger all the time so do your options as a customer. One such option is to seek direct lenders for payday loans.

Indirect lenders work by sending your application to a number of companies they work with until they get the first approval. This allows them to guarantee they’ll give you a loan and many say this allows them to respond faster because you get your cash from whomever responds first. A lot of customers are uncomfortable however not knowing who is seeing their application information or knowing where their money is actually coming from. Also many say indirect lending companies have higher fees because you pay both parties involved.

Direct lenders for payday loans involve fewer people. Less people see your application which makes many customers more comfortable. As you only pay one company with your fees the fees are often cheaper with these companies. Many companies claim that because you deal directly with them and they don’t have to send applications out and wait for responses that they are faster.

If you are concerned with time and your loan, as many customers are, you can usually find same day for either kind of company on this account so I wouldn’t let that effect your decision too much.

Luckily these days there are so many companies you can make a list of the important options you want in order of priority: direct lender, same day, no fax, and of course, the lowest fees you can find. These are just a few of the available options, if there is some particular need you have, like no credit check, I feel confident telling you there will be a company out there for your situation.

Make sure that whatever you decide you’ll be able to pay back on the agreed date. Often customers overestimate what they’ll be able to do with their budget and end up in a cycle borrowing money repeatedly until they owe astronomical amounts.

For keeping your information safe and keeping fees low, look for direct lenders for payday loans.

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Save Money Do Not Borrow it on your Credit Card

May 30, 2018   Home Mortgage

Let’s 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, let’s 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?

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