Cash Advance:

Cash advances are borrowed at the time of need of cash. They are borrowed against the current credit balance of the borrower. Some cash advance lenders doesn’t even make a check on credit balance they provide loan with little banking details from the customer.Instant cash advance is directly provided by cash advance lender, they provide cash no matter what a person financial history is.

Why go for a cash advance?

Generally banks and many financial institutions have a long and complicated approval policy. Customers in need of urgent cash are often neglected because of their financial history or bad credit.Cash advance lenders can prove out to be an ultimate option for such mass of people they can provide quick cash with best interest rate without tedious application process and no faxing of document. The borrower will fill an online form providing his banking details and immediate cash will be transferred to his account.The customer can carry out the research on Internet to find out the best interest rate and repayment schedule. The customer need to make sure that he can repay on due date otherwise there are high interest rate charged of the same.The borrower should keep in mind that cash call∞ is for emergency situation or for unexpected expenses they should not be use for any other reason.

Cash Advance lenders:

Some cash advance lenders are not the actual immediate lenders; they work as an intermediate institute and charge high commission from the lender banks. Interest rates are therefore high as the customer is not dealing with the immediate lender. However big banks & financial institute Face a difficulty of strict lending policy which keeps them away from cash advance market.They cannot dispose cash so quickly; cash advance lenders take the advantage of this situation.However big banks and financial institution are participating, they are now offering payday loans with less time consumption.

Fees charged:

Guaranteed cash advance∞ is given for a time period of week or a month so normally fees are charged with it. The normal fees charged is 15% can increase if the loan amount exceeds then $ 1000.The fee is supposed to pay on the due date if fails to do so the lender can charge even higher fees which they called as NSF. Extension repayment schedule terms can add more burdens on the borrower’s financial health. Payday loan lenders deduct payment from the borrower checking account; this is how they collect their money. It would be even difficult to get loan if the borrower has any unresolved debt or outstanding payment. The general rate which are charged on loans are called APR () as what the loan will actually cost for the entire year.