Common Cash Advance Myths

3 September 18

Cash Advance Myths

For many people, when unexpected payments arise at the most inconvenient times, a cash advance can help to ease the pressure until their next pay check arrives. Providing you with a rapidly distributed cash injection, a quick loan can help to cover emergency medical expenses, late bill payments, or urgent vehicle repair costs. Often, simply putting your life on hold until your next pay day isn’t an option. By using a cash advance you can help take care of the life’s little emergencies whenever they spring up – if you’re not too sure about cash advances, these are some of the most common misconceptions.

The APR is huge!

The APR that most cash advance lenders will charge works out to be around 650 percent. This may sound like an enormous amount, but no quick cash lender would ever let someone borrow over that long a period of time. Most lenders restrict borrowers to loan terms of two weeks, or in certain cases, depending on the state of your residence, they may offer a term of up to 30 days. No more. Over this much shorter period of time fees of $25 for every $100 borrowed actually work out to be lower than the overdraft charges at your local bank.

The application process is probably more hassle than it’s worth! allows you to complete the process of applying for your short-term loan, receiving your funds, and making your repayments without even having to leave your house. The online application can be completed in a just a few minutes, your cash advance can be deposited in your bank account available for withdrawal within a few hours, and your loan repayment is made by way of automated deduction from your account on your next pay day.

I’ll get rejected, because I have bad credit!

Because lenders from’s network use your future salary payment to guarantee your cash advance, you can have good credit, bad credit, or no credit and still be approved. It doesn’t matter. So if you’ve had loan applications rejected by other institutions, an online cash advance may be just the solution to your problems.

I’m probably not eligible! has limited eligibility requirements, meaning that over 80 percent of loan applicants get lightning-quick approval. To be approved for a cash advance you need to:

  • Be a minimum of 18 years of age at the time of your application
  • Be a citizen or permanent resident of the U.S.
  • Have a monthly income of at least $1000 after taxes and have been in your current job for at least 90 days
  • Have an active bank account in your name that is able to receive electronic money transfers

A payday advance can be a cost-effective and effortless way for you to get access to emergency cash when you really need it. With easy applications, instant approval, and uncomplicated repayments, it may be just what you were looking for.