Borrowing Options

Cash advances are one of the fastest ways to get a payday now, but you can also borrow other types of emergency loans. We'll explore your borrowing options in what follows.

Credit Card Cash Advances

If you have a credit card with credit remaining, you may be able to take out a cash advance loan. With most cards, you can withdraw up to a certain amount of cash from any ATM. This allows you to get your payday now and repay the loan on your next credit card billing statement. Credit card cash advances have several limitations. For one, these loans have extraordinarily high APRs. They also have a number of fees associated with them, which makes them even more expensive. Moreover, not everyone has access to credit cards. Commonly, people who need payday loans have troubled financial histories and thus cannot qualify for credit cards. If they have credit cards at all, the cards are usually maxed. For this reason, credit card cash advances are not viable for all borrowers.

Car Title Loans

Another way to get your payday now is to turn the equity you have in your vehicle into cash. A car title loan will give you cash if you are willing to present the title to your car as collateral. If you repay the loan as agreed, the company will return the title of your vehicle to you. However, if you fail to repay the car title loan, the lender has the right to repossess your vehicle. In this way, car title loans are very risky and also require you to have some equity in your car. Payday loans can give you the same cash a car title loan would, but without the risk.

Personal Loans

Personal loans are issued by traditional lending institutions like banks and credit unions. They are small loans with moderate interest rates. The better your financial record, the better your interest rate will be. If you get your payday now with a personal loan, you will need to have a good to excellent financial history. Banks will not loan to people with imperfect financial records. Additionally, these loans usually have fairly long terms, which means you will be repaying the loan for months or even years.

Payday Loans

Payday loans, or paycheck advances, are the quickest and simplest way to get a payday now. No collateral is required, so you don't risk losing any of your personal property. You don't have to have a perfect financial record to qualify either. Payday loans have short, manageable terms of a few weeks on average (varies by lender). With a payday advance, you can get just the amount of cash necessary to carry you to your next payday.