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Is my payday loan company taking me for a ride?
If you are looking for an interim loan to cover your immediate expenses then payday loans are just perfect for you. Payday loans are considered as new age loans with convenient and flexible options. They are short-term loans that cover your expenses with easy repayments on the next paycheck day or payday. They are also known as cash advances in many other countries. The sole purpose behind such loans is to provide instant financial aid to individuals who are short of money and requires it on an urgent basis. If you search the internet, you will realize how vast and big the market of payday loans is.
Along with the power of the online medium coupled with computing, it is allowing lenders to put forward complete process of application on their sites. This is enabling the process to be speedier with less human intervention. But how can a borrower find the right lender for their needs? Since most of them are in need of instant cash, they hurriedly end up getting into a wrong decision. So before going for a payday loan, make sure you keep certain things, which will help you in avoiding swindles, as well as save your money from hidden charges charged by many lenders online.
In the hope of approving your loan by filling out every form is certainly not the way to start your search to get a payday loan. Even for just filling up the forms, many websites have their respective charges irrespective of their approval of your request as they have to receive your bank details for the purpose of submission. It is very important to pay heed to every detail in order to settle with the best website. Carefully read the disclaimer on every website.
On certain occasion, you will find statements that say that the website owner is not the lender. You should only borrow from any third party if you are confident enough about its credibility. If a website does not term it as the third party, chances are there that it is just an information harvester selling applications to financial institutions like a bank. Try to extract the company details from the website. If a lender is genuine then they will be happy to help you.
They will proudly disclose their entire information to customers so that the potential customers can be sure of their offerings. Look for the fees of payday loans and check whether they are spelled clearly or not. If a company is vague, they will not answer your questions regarding their cost directly. Clear all your doubts without any hesitation even if it sounds silly. Make sure you take the right move and of course, repayment on the right time is important, as it will keep you away from penalties and late fees, which constitutes the key sources of a payday lenders income.
When going for a payday loan option, make research your best friend. If you want to get elaborate information on payday loans, browse through the internet where you will find many independent and impartial comparison sites providing you with complete details on lending products. Since recession, payday loans are catching popularity with its immediate effect of receiving financial aid.
Finding Good 0 APR Credit Card Offers
While most of us wish that we could find credit cards that only had 0% APR, they cant really exist because the credit card companies wouldnt make any money. However, if youre looking to save money with a lower interest rate, there are ways to find great deals on APR percentages.
Balance transfers
The trick with getting a 0% APR is to find a credit card that allows you to transfer other balances under that initial lower APR interest rate. While there is usually a time limit to these kinds of offers, they can help save you a lot of money in the long run. And if you think about it, these offers are much like getting the 0% APR on that other card, its just a matter of where you send the bill to.
Talking with the cards that you have
You might not know this, but if youre a good customer for your current credit card company, you may be able to ask for a limited 0% APR period as well. If youve been paying your bills on time and keeping a fairly low balance, many companies are willing to reduce or negate the interest rate for a while. They want your business, so theyre usually willing to give you a deal to keep you using their card.
Going online
There are many credit card company comparison sites that will allow you to see which card companies are offering 0% APR for the first year of use or for limited time periods. And while this isnt a permanent solution, you can see which cards are willing to take you on as a customer for a lower interest rate.
A word of caution
While its safe to say that youre aware of the fact that 0% APR periods can be short, you need to be certain that you understand what the card company defines as a period. In most cases, the first purchase starts the cycle of interest free credit balances, as opposed to the first billing cycle end.
Look to see what the interest rate will be when the trial period is over. If the interest jumps dramatically, you might be in for an unpleasant surprise if youre still carrying a balance. And the truth is that many of these credit card companies will increase their interest rates from 0% to 15% and even 24%.
Also realize that there might be restrictions in getting the 0% APR. If you make certain purchases or dont make a payment within a certain time, you might revoke your right to that lowered interest rate. Read the fine print.