Emergency Fast Cash Loans - When Using This Service Makes Sense

Believe it or not there are times when it makes sense to use a payday cash advance loan (sometimes called a fast cash loan, or even emergency cash loan). We'll explain when in a moment. First a little overview.

These loans are considered "expensive" because of the triple digit APR's (annual percentage rate) that are usually associated with the payday loan.

Because the fees charged for a quick cash loan are expressed in terms of cost per $100 borrowed , they appear ridiculously high. The average loan costs about $15-$25 per $100 borrowed and must be paid back in 14 days on average.

A fee of $15 per $100 borrowed equates to an APR of about 391%.

Looking at the fees this way is not practical or realistic, however.

A quick cash loan, when used correctly is a viable SOLUTION (but not a way of life) that can offset higher cost alternatives caused by NOT having sufficient funds available. The result could be paying for utility re-connect fees, overdraft notices, late mortgage, auto or credit card fees.

Not only that, and probably more important is that missing a credit card auto or mortgage payment will lower your credit score causing you higher interest rates on loans.

Paying $30-$40 fee on a few hundred dollars is far better than destroying your credit score in the event you KNOW in advance you are going to be late on a car payment or even your mortgage.

Of course staying out of financial trouble is your goal but realistically, getting in a negative cash flow situation can be way beyond your control for many reasons.

Why not get set up with an online quick cash loan provider?

Getting set up doesn't mean you have to take out a loan immediately. Preparing in advance will prevent you from scrambling around at the last second when you need the funds - say within 24 hours.

Typical quick cash loan provider requirements are easy: You need only to be employed earning $800- $1000 MO, have a valid checking account with direct deposit, and valid ID.

Also bad credit is not an issue - it makes no difference if your credit score is 300 or 800,
The fees are the same.

The downside of these loans is that you must pay them back on time - or incur repetitive and costly fees - which means being an ultra responsible borrower and keen budgeter.

So... stop beating yourself up about your financial situation and be realistic about your choices - if the quick cash loan provides a solution that can save your credit score... do it!