Quick Loan Approval Means a 24 Hour Cash Advance: Guaranteed Fast Cash from a Bad Credit Loan Lender Today
Life doesn’t always turn out as expected, but a 24 hour cash advance can help to meet an urgent short term need. Many customers borrow money with poor credit for a genuine emergency, such as paying the rent or fixing the car. It is possible to get quick loan approval which means guaranteed fast cash from a bad credit loan lender for any purpose what-so-ever. It is important to appreciate that the absence of credit scoring means that the cost of borrowing is high.
Unsecured 24 Hour Cash Advance Methods
- Credit card cash advance. It is possible to withdraw a pre-determined percentage of the allocated credit limit from an ATM. Although the APR is higher than a traditional credit card purchase, it is cheaper than other types of next day loan.
- Bank overdraft. Whilst most people are aware if their current bank account has an overdraft facility, a surprising number of individuals have obsolete accounts. Look through any financial records to see if there are any old bank statements and make a few enquiries.
- Family loan. If made unemployed, a family member or friend may be prepared to provide an interest free or low APR quick cash advance loan. It is important that the debt is repaid in order to avoid any potential bad feeling that would inevitably arise.
- Payday loans. U.S. citizens who are over 18 and in full-time employment may be able to get guaranteed fast cash within 24 hours. It will also be necessary to have a valid checking account and be able to provide at least 2 forms of identification.
Secured Quick Same Day Loans
- Pawnbrokers. Those who need fast cash today receive a 24 hour cash advance loan based on the provision of an item of value, such as gold or jewellery. Failure to redeem the item will lead to it being sold to recover the bad credit loan lender’s money.
- Auto title loans. Following a car valuation, it may be possible to get quick cash today by putting up a vehicle as collateral. At least 75% of outstanding car finance must have been cleared. Customers are generally able to get a vehicle title loan for up to 30-50% of the cars value.
Cost of Guaranteed Fast Cash
The higher risk of default, coupled with the short loan duration, increases the cost of borrowing. Quick loan approval would not be offered by the leading banks. Whilst rates do vary between bad credit loan lenders, a 24 hour cash advance for $750 will typically attract $187.50 in interest in just 30 days. Whilst a next day loan isn’t cheap, the short duration makes it relatively affordable.
Dangers of a Quick Cash Advance Loan
Whilst a 24 hour cash advance can help people who need money fast, it carries a genuine risk. If finances were tight this month, having to repay hundreds of dollars shortly afterwards may just be delaying the inevitable. It is only advisable to take out a next day loan when the borrower is expecting to make or receive more money the month after. Failure to make repayment punctually will lead to the accrual of further interest and charges. Any collateral will also be lost.