It's nice to have cash on hand when you need it. It can't stay that way, though, because many people live from paycheck to paycheck. This means that money might be tight between paychecks. You can always get a payday advance, though, if you need emergency cash or just some extra money for something that came up.
These loans, which go by many names, are easy to apply for and most people who work can get them. But what's even better is that the money can be put right into your bank account in about an hour.
It doesn't take long at all to apply for a payday advance—usually about 10 minutes. You can apply from home on your computer, which is very convenient. You should know, though, that payday advances are not legal in all states, so you might want to check this first.
If you want your money quickly, like within an hour, you will need to have some paperwork ready. After you fill out your application, you will get a call to confirm some information. This could mean that you need to fax them some proof that you are currently working and making more than $1,000 per month, such as recent pay stubs or bank statements from your checking account.
A no-fax loan is just a way to make the process of getting a loan easier. The same information still needs to be checked, but the lender will have to do it on their own. This will slow down the process of your payday advance loan, but you should still be able to get the money in less than 24 hours (except on weekends). It's really up to you to decide which way to go.
If you shop around, you might be able to find a lender who will give you your first payday advance loan for free. This could make it taste even better. You'll want to make sure you pay back the first one on time, though, so that you can get a bigger loan the next time. Your first loan will be between $100 and $400, which is not a lot. After that, it goes up a little bit with each loan you get, with the most you can pay in some states being about $1,500 and in others only $500.
The loan can be rolled over and kept going until the next pay day. You will have to pay the interest on your payday loan if you want to keep it. Then your loan is treated as a new loan, but you still have to pay the same interest on it.
When you're ready to fill out your application, look around the Internet to see what kinds of deals are available. Interest rates usually range from 15% to 30%, so you should try to find a loan with a low interest rate.
