May 28
adminUncategorized cash loans, credit cards, credit history, personal loan
Cash Loans vs. Credit Cards
Cash loans versus credit cards. Which is better?
A cash loan is based on proof of employment and income. In most cases, lenders will not run a credit check or use a credit score to qualify applicants. These are ideal loans for bad credit. However, it’s important to understand that a payday advance is one of the most costly loan products available. Interest fees usually range within 300% to 600% or even close to 900%.
A credit card is issued based on your credit history, amount of debt, and ability to make the monthly payments. Like cash loans, credit cards typically have pretty high interest fees. However, if you can qualify to get a credit card- that’s a probably the way to go. Before applying for either product, be sure to shop around and compare rates.
Read more on the Fed’s website for credit cards
May 14
adminUncategorized cash advance, personal loan, student loans
Simple Saving Tips For Your Teen
Now, more than ever, it’s important to teach your teen about the importance of financial smarts! There are a few simple things they can start doing now to really help them out in the future.
1. If they don’t already have a savings and checking account, it’s a good idea to set them up with one. Teach them the importance of putting money in their savings account each month. That way, when an unexpected bill pops up- they won’t have to turn to a cash advance.
2. Encourage them to get a part-time job while they’re still in school. Having a job will teach them responsibility as well as how to handle money.
3. Encourage them to focus on their studies and explain the importance of scholarships and grants. This way, they’ll avoid having to take out huge student loans for college. They’ll thank you later, when they don’t have student loan payments that cost as much as their rent.
For more information on reforms on student loans, checkout the Whitehouse Blog- student loans.
May 07
adminUncategorized cash advance, payday loan, personal loan, unemployed, unemployment check
Millions of Americans have been laid off and depend on government unemployment benefits to pay their bills. With so many new people applying every day, the system is overloaded and understaffed. The benefit checks are not getting sent out fast enough, leaving families desperate for help- posing the question:
Can you apply for a payday loan if you’re unemployed?
Well, the short answer is: It depends. CitiFinacial and PLS Loan Stores offer cash advances on unemployment benefit checks.
Another option to look into is getting a cash advance on a credit card. Credit cards may be able to bridge the time gap between benefit checks.
And, as always, stay in touch with The Department of Labor. As frustrating as it is, it’s a good idea to keep calling and checking on the status of your benefit.
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