Cash Advance vs. Personal loans: Which is better?

personal loan

For many individuals, a “cash” advance is an essential way to finance their emergent needs like hospitalization, wedding and car repair. However, it is not easy to obtain funding especially if you have bad credit. In fact, if you have maxed out your existing credit cards, it is almost impossible to get a new bank card or credit card that offers cash advances. Making a cash advance may also cost you an interest rate which may range from 20-30%. That’s a very costly way of borrowing money! Cash advance vs Personal loans, which is better?

What about personal loans?

Lenders often use the credit reports in determining a loan applicant’s credibility. Poor credit history can get your application rejected. But, what traditional lenders fail to consider is the fact that bad credit is not always a result of financial irresponsibility. Sometimes, even the most financially prudent people have debt problems.

That’s why borrowers with bad credit turn to lenders offering a personal loan to people with poor credit history. In the cash advance vs personal loans competition, personal loans can be a less expensive option. While people with excellent credit may qualify for a loan with a much lower interest rate than what you would pay, it is still cheaper compared to the terms of credit card cash advances.

Cash advance loans for bad credit

If you need money fast but you will not qualify for a credit card advance or any other personal loan from traditional banks, ALC cash advance loans can help.

You can finance your needs with its instant cash loans up to half a million dollars. You can also enjoy secure and quick loan processing with the help of an attentive and responsive team to answer your questions. They don’t require voluminous paperwork like traditional banks and you can see the money in your account as fast as two days!

Special consideration when getting a personal loan

How do you plan to pay off your personal loan? Do you have the funds to pay what you borrow in the next 3 to 4 years to pay the loan?  Whether you are getting a cash advance or personal loan, it is important to determine a budget for your urgent needs. Are you planning a wedding, a vacation or a simple house repair? Whatever your needs are, be sure you have the money ton comfortably pay the loan until the last month of payment.

Why Choose Australian Lending Centre

When searching for a lender to help you deal with multiple debts, especially when there is a court judgment, or bugging debt collecting agencies, you need to pick your lenders wisely. After all, the lending company you choose could make all of the difference to the final outcome of your financial struggles. The experienced and knowledgeable loan specialists at Australian Lending Centre truly care about their clients, and it is obvious in their loan products and services.

They have been helping thousands of Australians with their monetary concerns for more than 2 decades. They offer debt consolidation services, refinancing and other loan products for short-term and long-term needs.

Contact the Australian Lending Centre now!

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