The 5 Benefits of Getting Payday Loans
Apr 05, 2017
Now part of a multi-billion dollar industry, quick payday loans online in UK and beyond are becoming more and more popular.
In the U.K. there were four times as many payday loans taken out in 2009 as there were in 2006.
With the first use dating back to the 1970s, payday loans are not a new service. So, why has there been a boost in popularity?
Plain and simple: it’s all about the benefits.
Let’s count the ways that online payday loans can benefit you.
Get cash fast
One of the most appealing things about online payday loans is how easy they are to get. Not only that, it’s a quick process, too!
Pretty much anyone can qualify for a payday loan.
All it takes is a relatively stable bank account and a small service fee. On top of that, with the right bank account information, you can receive the money almost immediately.
Depending on which lender you go to, there might be a need for some more basic information, but that’s the gist of it.
Prevent late payments
Using a payday loan can help with avoiding late payments on bills.
Whether it’s an electric bill that needs to be paid, or if you just need some extra cash to make your rent payment on time, payday loans can help.
Millions of people around the world are taking advantage of online payday loans to help keep their finances on track and well balanced.
Avoid credit cards and bounced checks
A lot of people get stuck in a high-interest rate credit card situation, where they end up paying more for something than what it’s actually worth.
Payday loans are a great substitute for credit cards because they get the job done, and there are no strings attached.
You can also avoid bouncing checks with payday loans. A cash advance from a lender can be the difference between embarrassment and keeping your word. With economic difficulties still lingering, it is more important than ever to stay true to your word.
After all, your word is your bond.
No credit, no problem
Payday loans are a perfect fit for folks who have some kind of income, but no credit because there is no credit check involved.
Most of the time, the only items you’ll need to qualify for online payday loans are an ID (must be over 18 years old), a bank account, and a pay stub showing some kind of income.
Get support during hard times
Life happens, and sometimes we all need a helping hand. Unexpected expenses or getting laid off shouldn’t mean that payments go overdue or that your family does without.
Payday loans can help in these times of need.
Medical emergencies are one of the biggest causes for needing a cash advance. Bills like these shouldn’t be left unpaid, and with the ease of online loans, they no longer have to be.
Another common experience that calls for a payday loan is facing unexpected car repairs. When the mechanic hands you a bill for a few hundred dollars that you weren’t expecting to spend, it can hit you like a bag of bricks.
With cash advances, it is easier to keep your head above water in these types of situations.
The list of unexpected expenses could go on and on, from unplanned house repairs to last-minute travel for a funeral.
Don’t let a shortage of cash keep you from doing the things that matter most.