If you find yourself needing money immediately, you may wonder where the best place is to get quick loans. Unfortunately, there really is no best place to get quick loans. In order to get money or cash fast, you will almost always pay a high premium in the form of a high interest rate and fees. This is especially true if you do not have a great credit score and/or if you don’t have a credit card.
Where is the Best Place to Get Quick Loans
If you need access to cash immediately, then you generally have three options. You can get a cash advance on your credit card, if you have one with available credit and your lender allows it. You can sell items or take the title of your vehicle to a pawn shop to get a loan. Finally, you can take a payday or cash advance loan.
Each of these options has downsides: the main downside to each is that you pay a relatively high interest rate for cash advances, title loans, or payday loans or cash advances. The interest rate of these three options is generally the lowest on credit card cash advances. However, with credit card cash advances you must have a card with credit; and with title loans, you have to have a car with a clear title to use as collateral. If you don’t meet these two criteria, then you are essentially left with cash advance or payday loans as your only real option for quick loans.
Cash advance or payday loans can be obtained online or in person. You need to have proof of employment, often in the form of pay stubs and a bank account. No credit check is required. You borrow a set amount of money, usually for up to a few weeks, and are charged a fee for each $100 borrowed. You then write a post dated check for the borrowed amount plus fees, or you give the lender access to your bank account to debit the money.
You get the cash immediately and can either pay it back, let the lender cash your check, or renew the loan. Because you get the cash immediately, or within hours, these are one of the best ways to find a quick loan. Remember though, that like all quick loans- you do pay a premium in the form of high charges for the convenience associated with the access to fast cash.