What You Need to Know About Online Payday Loans

Online payday loans, or cash advances, can come in handy when unexpected expenses come up… car repairs, medical bills, tuition bills, etc.  A payday loan can be expensive though, so here are a couple things to watch out for.

Your typical payday loan will cost you $15-30 per hundred dollars borrowed, so on your next payday, you’ll have to repay the amount borrowed plus interest. Most payday loans can be extended to the next payday by simply paying the interest-only portion of the loan, though some will require full payment, but then turn right around and re-loan you the money back.  The number of extensions allowed will be set by the lender.

You’ll find that the as you become a “repeat” customer, that the interest rate could go down, the approved loan amount will go up, and possibly the length of repayment extended for a longer time.

Where to Get Online Payday Loans

The internet is a great place to get a payday loan, as many lenders are looking to expand their business. You can get better rates and repayment terms because you can actually get lenders to compete for your business, as opposed to going to your local payday loan store, and simply having to go along with their one set of lending terms.

A great place to get an online payday loan is 100DayLoans.com. They offer 100 day repayment terms, fast approval and funding, and no faxing is required.

Tammy from South Carolina

How to Get Your Free Credit Report…Without a Credit Card

There is only one “official” website where you can get your free credit reports from each of the major credit reporting bureaus, Experian, Equifax, and TransUnion,  each year. There is no credit card information required , you simply enter your required information, and answer some questions that only you (hopefully) know the answers to. You are not required to purchase to trial a credit monitoring service to access your credit report.

The credit reports are free, but if you want your FICO scores, you’ll have to buy those from each of the credit bureaus. They cost about $10-$15 each.

You can get your free credit reports at AnnualCreditReport.com

Do you need your FICO score? Equifax ScoreWatch™ will monitor and alert you to changes in your FICO score, and includes a super-nice Credit Score Simulator that will show you how things will affect your credit score.

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