Cash Advances/Payday Loans Explained
A cash advance loan or a payday loan. These phrases keep being used interchangeably, so what is the difference?
There is NO DIFFERENCE. A cash advance loan is the SAME THING as a payday loan, and vice versa. They are the same concepts, with different names. Payday advances, short-term loans, easy cash loans, cash loans, fast cash, bad credit loans, and deferred deposit are just some of the many synonyms for a cash advance/payday loan. No matter how you refer to a payday loan, the definition is the same: it is a cash advance loan for the amount of $100 to $1,500 that is designed to hold you over until your next payday. A payday loan is an ideal option for those individuals who find themselves in a financial emergency and need immediate cash assistance.
The following are some benefits of securing a cash advance payday loan:
- Fast cash in advance – Get the money in advance you need, in as little as one hour. PaydayLoansIn1Hour.com is dedicated to helping you fix your financial situation right away.
- Easy to qualify – You can get approved instantly and have the money in advance you need deposited within 24 hours.
- No hassle – Applying online for a payday loan affords you the convenience and privacy not found at cash advance stores. No need to wait in line or fax documents to get a payday loan.
- Simple requirements – If you are 18 years of age or older, have steady employment, and have a checking account, then you can qualify for a payday loan.
- Bad credit OK – Those with bad or no credit are encouraged to apply for a payday loan, as even those with bad credit can get approved for a payday loan. That is why payday loans are sometimes referred to as “bad credit loans”.
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