Latest Articles
A Beginner's Guide to Secured Loans
You may have heard the term "secured loans" used in the past, not knowing exactly what it meant… but now that you're in the market for a loan you find yourself wanting to learn all that you can about secured loans.
In essence, secured loans are...
Fixed Rate Mortgage Loans - Understanding The Basics
Fixed rate mortgages are the most common type of mortgage loan
for home buyers. With predictable payments, long term homeowners
can plan their budgets and guard against rising interest rates.
But a fixed rate mortgage is not for everyone with its...
Small Business Administration (SBA) Loans for Women
There are a number of options available to women for obtaining
small business loans. One of the most well-known types of
business loans available for women is through the Small Business
Administration (SBA).
The Small Business...
Fast Cash Loans - When You Should Borrow And When You Should Wait
A fast cash loan should be an option used as a last resort to avoid a financial emergency. With its interest rates, a cash loan should not be used to purchase the latest gadget or fashion item.
Avoid A Late Payment
A late payment can cost you more than just a late fee; it can raise your interest rates on credit cards and future long-term loans. Higher interest rates on a car or home will cost more than a few dollars for a cash loan. While you shouldn’t make it a habit to pay bills with a cash loan, it is better than missing a bill payment and lowering your credit score.
Skip A Non-Sufficient Fund Fee
While a cash loan fee is high, a NSF fee on a check can easily be higher, especially if the merchant charges a fee as well. To avoid these spiraling cost, make sure your checks are covered with a cash loan.
Keep Your Job
If keeping your job means you have to get your car fixed today and you are out of cash, then use a payday loan. It is better to pay the fees than lose your job. Payday loans are ideal for these types of situations.
Delay A Payment
Not all late payments
warrant getting a cash loan. If you will be less than 30 days late on a bill, it will not show up on your credit score. You may have to pay a late charge though, which is typically less than the finance fee for a cash loan.
Wait On Impulse Purchases
A cash loan is not a good way to fund an impulse purchase. Even if the item is on sale, it probably isn’t reduced enough to warrant paying fees on a cash loan. Instead, wait to make the purchase until you have enough money on hand.
Your decision to get a cash loan or not should be based on what is in your financial best interests. Cash loans, when used wisely, can save you from a financial emergency. Keep in mind the cost of a cash loan’s financing fees when factoring the cost of your decision.
About the Author
Carrie Reeder is the owner of http://www.abcloanguide.com, an informational website about various types of loans. To view our list of recommended payday loan companies online, visit this
page: http://www.abcloanguide.com/paydayloans.shtml
Written By: Carrie Reeder