First cash advance is a short-term loan that Americans can get on demand for a week or two. People who need money to pay bills that can't wait until they get paid can choose this kind of loan, which they can pay back as soon as they get their paycheck.
The people who lend money know that this is often the only option for people who can't get a loan from a bank. First cash advance is a very profitable business because people often can't pay back their loans on time and have to keep getting new loans and paying interest.
There are some things you have to do before you can choose this option. This is what
# You should be at least 18 years old.
# You should have had a job for the past three months.
# Your pay should be at least $1000.
# You need a bank account that lets you write checks.
How a loan is given and paid back
When you go to a moneylender for your first cash advance, you have to give them a check for the amount you want to borrow plus the interest. If you look at it on an annual basis, the interest rate for a two-week loan ranges from 390 to 650 percent. On the due date, you have to go to the lender in person to pay back the loan. If you don't, he will cash the check in the bank. If the check bounces for any reason, you'll have to pay extra fees on top of the amount and interest. As a fine, the lender can also raise the interest rate.
The first cash advance in America is usually for a small amount, like $500 to $1500, and you have to pay it back as soon as you get paid.
First check cash advances are a type of loan that can help you pay bills that you need to pay right away and can't wait until you get paid. They can also help you in an emergency, like if you were in an accident or had to go to the hospital. To get this loan, you have to fill out a form with your salary information, bank account number, and the date of your next paycheck, which will be used to pay back the loan. Since these loans are very expensive, you should only get one if you have no other choice.
