Are Online Cash Advances | Payday Loans | Payday Advances A Good Idea?

No, not your best bud, at least not if you value the friendship at all. Relatives? Maybe, but not everyone has a rich uncle.

Generally my experience is: Friends, relatives and money don't mix well. Leave it for an absolute life and death emergency to ask anyone in your personal sphere for financial assistance.

Your bank? Well, assuming that your credit is less than perfect, good luck trying to get an instant personal loan from a regular brick and mortar bank.

Your best bet: A Payday Loan, aka Cash Advance, Payday Advance, Paycheck Advance, or whatever it's called in your area.

These are some of the typical names for short term personal loans that are meant to bridge the gap (or gaping hole) in your wallet until the next payday.

This type of loan is not without controversy though, and so this lens strives to take a balanced approach in focussing on the facts at hand.

Thanks to the internet you don't have to drive to a neighborhood store for some fast cash. Here are some online lenders you can check out for quick and easy online cash advances:

One of the characteristics of these payday advance services is that it usually takes as little as 1 hour to less than 24 hours to have the funds deposited into your checking account, after your application has been accepted.

Another bonus for those temporarily strapped for cash is that these lenders here don't care too much about your credit score or history. The application process is quick and easy and requires hardly any paper work, in most cases not even a fax.

Considering the hefty fees associated with any payday loan, here is a deal that can't be beat. First time customers can get a free loan (free meaning no fees; you still need to pay back the principal loan amount) if they pay back their loan at the agreed time.

No faxing and no credit checks allow for a hassle-free application. Up to $1,000 will be available for a short term loan.

Give it a try at Free Payday Loans.

These lenders wire up to $1,500 within 1 hour to your bank account, without a credit check and don't require a fax. In addition, their lender's fees are among the lowest in the industry.

Click Here to get a $1,500 cash advance wired to you in one hour!

CashNetUSA is a subsidiary of Cash America Intl. Inc. (NYSE: CSH), a publicly-traded company. They are licensed and dedicated to responsible lending practices.

CashNet offers short term personal loans of $100 to $1,500 (new customers up to $700) which may be approved instantly depending on the information you provide. You do need a checking account and must have been employed for at least one whole month. Loans are available to US citizens or legal residents 18 years or older. Self-employment requires faxed proof of income like a recent bank statement.

View this lender's website here: Get up to $550 Next Business Day!

PayDay One has been around since 2002 and offers a Great Rate Guarantee on no-fax loans from $100 to $1,000. Some states have limitations on how much you can borrow, but you can find out almost instantly how much money you can apply for. The online process is very quick and easy provided you meet the following criteria:

To apply for a loan from PayDay One you need an email address, active checking account, and a job or regular source of income. You must also be at least 18 years old and a US citizen.

Once approved, the money will be in your bank account the following day.

For a fast online quote visit the website of Online PayDay Loan..

If it's customer service and full disclosure you seek then Cash Central is the place to go.

Once you create an account you don't need to go through the application process again for subsequent loans.

On their customer-friendly website you will get a whole lot of information and tips. They take their commitment to customer satisfaction very serious. Everything is laid out fair and square, no hidden surprises afterwards. Up to $1,500 can be wired to your bank account in less than 1 day.

Here is more info about Payday loans from Cash Central.

Short term cash advance loans are increasingly popular in the United Kingdom. The convenience of online hassle-free quick cash loans beats conventional bank loans especially during temporary cash emergencies.

As the market leader in the Payday Loan sector, PaydayUK is the only company to offer an instant online decision to customers, without you having to fax in any documents.

They are also the fastest Payday Loan company operating in the UK with an online process from start to finish. Loans are approved instantly and you will receive your cash advance on the day you apply, paid directly into your bank account as cleared funds. This is a UK first!

No hassle cash advance up to £750

Let's face it, not everybody has a pile of cash tucked away for a rainy day. There are many situations when one might consider a Payday Loan. Financial emergencies could happen to anyone of us for a myriad of valid reasons.

Yet payday loans are controversial, mainly due to the very high annualized interest rate (APR) compared to conventional personal loans.

However, cash advance loans are not intended for long term. They are meant to bridge the time until your next paycheck arrives, usually a timeframe of less than 1 month. Also, the amount loaned is generally anywhere from a few hundred to $1,500. The interest rate may be high over the duration of one year, but is effectively quite manageable for a small, short-term loan.

Considering the penalties and fines charged by your friendly neighborhood bank for overdrawn accounts and bouncing checks, the fee for a payday loan may seem like a real bargain. Add that to the negative impact these instances have on your credit score there is another good reason why a payday advance might be the way to go.

Fines and late fees in comparison, when expressed as APRs for two-week terms:

- $100 payday advance with $15 fee= 391% APR;
- $100 bounced check with $48 NSF/merchant fees = 1,251% APR;
- $100 credit card balance with $26 late fee = 678% APR;
- $100 utility bill with $50 late/reconnect fees = 1,304% APR.

(Source: Wikipedia.org)

If you need some cash fast, have less than perfect credit, and have a job with regular income, a short term cash advance loan, payday loan, payday advance, or whatever it's called, is a very popular option.

Due to the nature of fast-cash payday loans, specifically the high annualized interest rates, there are some instances when this type of loan is not the most sensible choice.

It almost goes without saying that you should be able to pay it off in a reasonably short period of time. Most lenders will be happy to extend the loan, but at the very least, make sure you can afford to pay at least the interest to avoid that your loan amount increases over time.

Don't borrow more than you absolutely must. This is not the way to finance your luxury vacation or to buy that flat screen TV you always wanted. Resist the temptation to indulge yourself or a significant other with stuff you don't really need.

Use it to avoid late fees or other penalties, or to pay for lifesaving medical expenses, borrow the least amount necessary for the shortest period of time possible, and you'll be fine.

Some states regulate or prohibit this type of loans because of the relatively high interest rates. Strangely enough, they don't exercise the same protective restraint when it comes to the ridiculously high fees charged by banks and credit card companies for returned checks or overdrafts.

That being said, I believe if you're a responsible adult you can weigh the risks of a fast cash advance against the possible benefits yourself.

One last thought: If you find yourself depending on a Payday Loan all the time then this could be an indication of more serious financial problems. It may be time to seek better options or financial counseling.