Colonial War Gaming

Gaming at it's best

Category: cash management

Fast Cash Payday Loan for a No Credit Check Easy Cash Advance Now

Although often seen as a source of emergency money for paying the rent or fixing a car, a fast cash payday loan provides an easy cash advance for absolutely any purpose. It is perfect for customers with an adverse credit history as it is a quick same day loan with no credit checks at any stage. Bad credit loan lenders offer guaranteed fast cash to customers who have already been rejected by the banking sector. Whilst it should only be considered a short term loan, it can get someone out of a huge financial hole.

Qualifying for an Easy Cash Advance from a Payday Loan Lender

Although getting instant cash today doesn’t involve a credit check, it is still necessary to meet a bad credit loan lender’s requirements. Essentially, the lender is trying to ensure affordability and prevent fraudulent bad credit loan applications. The criteria for a quick same day loan are as follows:

  • Must be a U.S. citizen.
  • Over 18 years of age.
  • In full-time employment – minimum monthly income is $1,000 per month.
  • Valid bank checking account so that the money can be wired to the bank.
  • Two forms of identification, one of which must be photo I.D.

How to Get Instant Cash Today

Provided that the above lending criteria have been complied with, a fast cash payday loan is guaranteed to be approved. The customer will be expected to provide the bad credit loan lender with a postdated check set to clear on payday for the principal and any interest that will accrue. Once all the administrative requirements have been met, an emergency cash advance will be wired to the customer’s account. Although considered a next day loan, the funds will often be received within a few hours if the application is made prior to 2.30 PM.

Rate of APR on a Fast Cash Payday Loan

It is possible to borrow $500, but it will attract $125 of interest in just 30 days. There are two main reasons why the rate of interest is so high. It is a short term emergency cash advance which leaves little time for a bad credit lender to recover their administrative costs. The main reason for the usury APR is that the majority of customers have a history of poor credit so the default rate is far higher. In order to make it worth the lender’s while, the rate of interest needs to be sufficiently high.

Advantages and Disadvantages of Guaranteed Fast Cash Loans

A fast cash payday loan with no credit checks is available for anybody. Bad credit loan lenders regularly accept applications when the banks have already rejected that person. An easy cash advance can help someone out of a genuine financial emergency, such as paying the electricity bill. However, there are a number of dangers associated with a next day loan. Although unsecured, the rate of interest is usury so paying back the debt can place a further strain on a family just a month later. There is also a strong temptation to use the money for ‘wants’ rather than genuine ‘needs’. Failing to repay the money borrowed punctually will lead to interest and charges accruing quickly.

Pros and Cons of Credit Cards

I Love My Credit Cards, But..

I have several credit cards. My father hated them. He said they would be the ruin of me. I disagree. I have small debts on every one of them. Tax season has arrived and so has my refund check. Today I am knocking all of them down to the point of bare existence. I am also putting part of that money aside for a nice new used car.

There are common sense credit card rules that should be followed if you want to hold one. I learned the hard way.

The first rule is if you can’t pay for it, don’t charge it. Who follows this rule? I usually do, but well, I don’t follow too many rules. Some people do follow it, though.

If I am shopping at Penney’s, I look at the ad and determine how much I need it and how fast I can pay it off. I bought my new sofa at the Penney’s outlet. We did comparison shopping for months and finally bought it. It was on sale and I had a 15% off coupon. With taxes, the price rose once again. I reasoned that I should be able to pay this off shortly. I bought in September. My dog uses it as a chew toy and my cat uses it to sharpen his claws. I am so glad I didn’t pay a lot for it. My dog is getting a muzzle and my cat is getting his toenails trimmed. The sofa, well, it will just have to be repaired.

The second rule is if it has high interest, pay it off faster than anything you owe with lower interest rates. A $1,000 card with 10% interest, adds on $100 interest annually, if not paid off. A $10,000 card adds on $1,000 interest annually at the same interest rate. I have one card which charges 24.99% interest. I pay more money on that card than any other. When that is gone, I will no longer use it.

The third rule is if it charges interest, it is not there to make money for you, so that 5% discount is instantly lost if the debt isn’t paid off promptly.

The final rule is if you miss a monthly payment – woe to you, your interest is very likely to be increased, and a credit card late fee is attached. I like to call that fee a fine.

Why do I use charge cards? The answer is instant cash. I don’t want to carry $1000 around with me everywhere. That tiny bit of interest is still interest coming my way.

On January 1, I made a resolution to pay off all of my debts. This is an amazingly hard thing to do. I was shocked at how hard it was when I planned on paying off one of my debts and my husband got sick. The money I had intended to use went into paying the regular bills. Then the company hit me the next month with a stupid fee for not paying it off soon enough. On the 25th, I finally managed to send them $475, which did not pay it off, but it left a very small remaining debt on the card. That card will be paid off by the end of April.

My 24.99% card is getting hit in the gut today with a large payment. The interest rate will not instantly drop, but my credit will improve drastically.

Six credit cards with $1000 available credit means you don’t need the money. If you have charged up all of the cards, to the limit, then they know how you handle your money and they aren’t impressed, Remember this, if nothing else, the bank is the king of the show. If you want a low interest rate on everything, don’t use plastic for everything. Think before you charge.

Keep all of this in mind and use the plastic wisely.

Someone pointed out that if you have $10,000 in savings earning .50% monthly, along with a credit debt of $10,000 with interest rates of 20%, you are losing hundreds every month. It is far wiser to pay those cards off. You make money by decreasing debt. When you die, your debt is subtracted from what you own. Many of us in the 1980’s and 1990s owed more than we owned. But then again, look at the economy.

There’s an old saying, “you pay to play.” With credit cards, you probably do and you pay alot.