Payday Loan Tips  No 1-25
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Tip No. 1 Do You Know EXACTLY When You Should Pay?

When getting a payday loan make sure that the EXACT due date of the loan comes AFTER your actual payday date.

Many lenders calculate two weeks after you get the payday loan regardless if this date is before or after your actual payday date. If you need to pay the loan before you get your pay check, what's the point of getting a payday loan right? So be vigilant and take note of those dates.

Tip No.2 Payday Loan Applications - Protect Your Personal Information

You must practice caution when giving out personal information when applying for payday loans.

If the cash advance lender asks you to fill out an online form BEFORE they give you their rates, leave that site; there are many others who do not revert to such 'tricks'. If you do venture to filling out an online form, ensure that the site is secure so that your information is not stolen by third parties who will bombard you with spam.

Tip No.3 Cash Advance Applications - Are you Getting Turned Down?

Are you getting down for the cash advance loans you are trying even if you provided appropriate information and have never really been delinquent with loan payments before?

It could be that you filled out one too many online payday loan forms. You see, when you fill out an online payday loan form, most lenders conduct a check on you. They can see if you've applied on other lender sites and might mistake this to mean that you have several cash advance loans going on at the moment.

Tip No.4 Cash Advance Loans - Rate Awareness Check

The ideal rate that is charged on a cash advance loan is 20 percent of the loan amount. Any rate (or finance fee) higher than this rate is costly and should be considered highway robbery! Seriously, move on to another lender.

There are so many payday loan services out there to choose from and it is definitely even possible for you to find one that offers rates lower than 20% of the cash advance amount.

Tip No.5 Think Twice about Faxless Cash Advances

You should think twice before getting faxless cash advances or so called no fax payday loans. Otherwise you may end up falling prey to payday loan scams.

Legitimate cash advance businesses often have a fax line where you can easily make queries if you need to clarify anything about their service. Those offering faxless services may be involved in a business that is anomalous. If so, the business can easily avoid legal issues arising from any bogus transactions.

Tip No.6 Faxless Cash Advances - Where Privacy Reigns Supreme

In a financial fix and payday is still a couple of weeks away? Go ahead, go for faxless cash advances. These types of loans are great especially if you value your privacy.

Let's face it; nobody wants to announce that he or she is cash-strapped right? With no fax pay day loans, all you need is a computer with an internet connection. You can get a loan in the privacy of your own home without even the necessity of talking' to someone.

Tip No.7 Faxless Cash Advances Make the Fax Machine Obsolete

Nowadays, you no longer need to print and prepare numerous documents (proving who you are and that you are currently employed) and then have to go to a business center to ask somebody to fax your documents via a fax machine.

Thanks to faxless cash advances, all you have to do is accomplish an online no fax payday loan form and provide all these information electronically. Approval usually takes place in minutes so speed and convenience are guaranteed.

Tip No.8 No Fax Payday Loans Minimum Requirements

There are many no fax payday loans available for your use online. And yes, there is no more need to provide any paper' or documentation.

All you have to do is fill out an online form and acknowledge that you are: at least 18 years of age and a US citizen, that you are employed for at least the past three to six months, and that you have an active direct deposit account where the loan can be deposited (AND where payments can be deducted by the lender).

Tip No.9 No Fax Payday Loans - A Hoax?

Are you sure no fax payday loans are you r best alternative? Faxless payday loans guarantee speedy service BUT most charge higher interest rates (or financial fees) than their cash advance counterparts.

The reason behind this is that no fax payday lenders are always at risk loosing money with syndicates posing as customers with regular jobs. To cover up potential losses, this financial risk is transferred to YOU - legitimate borrowers through high interest rates.

Tip No.10 No Fax Payday Loans - Checking Up on Lenders

True, no fax payday loans may be a scam because the service provider really wants to be anonymous and as such does not want to provide a fax line.

However, if you see its office address on its website, it may be a good idea to drop by just to see if the business is legitimate. If a phone is provided, try calling at different times of the day to ensure that the lender is really in the payday loans business.

Tip No.11 Cash Advance Loan Payment Scheme

Before you sign up for any cash advance loan, evaluate if the payment scheme is easy or not. Payday loans, which are short-term in nature, may charge up to 35 percent! in rates (with the common maximum amount that can be borrowed being $1000). If this is the case, consider installment loans instead. You can borrow as much as $5000 with the monthly interest fee of only $100. By looking at the different payment schemes, you can easily tell which loan is more affordable in the long run.

Tip No.12 Payday Loan Applications - Protect Your Personal Information II

If you must fill out an online form to see the lender's payday loan rates, ensure that you are entering information on a secure page. Look at the URL on your browser, is should say https ://. The s stands for SECURE.

This means that the connection to the server is encrypted (i.e., you are guaranteed you are providing information to the real server and not an imposter. This is important because you usually provide your email address and bank information on cash advance online forms.

Tip No.13 Advance Payday Loans and Extensions

When you avail of advance payday loans, you must seriously evaluate the payment plan and the interest charged on the loan.

A typical payday loan charges about $20 for every $100 borrowed. This may seem small (is it at 20% of the loan amount?) but in case you have to extend the loan, you have to pay the same rate in addition to a possible extension fee. In the long run, you might end up paying more than what you borrowed.

Tip No.14 Advance Payday Loans - FULL Payment Please!

Advance payday loans will save you from alarming debts if you pay them in full immediately. In this manner, you can avoid extending the loan that will incur you further charges. Full payment of the loan is not a difficult task.

It is advisable that before you get the loan, you must always consider if you can fully pay the amount on the due date. Make sure you have enough money left on your payday to pay for necessities otherwise you have no choice but to extend the loan.

Tip No.15 Advance Payday Loans - You Can Only Borrow So Much...

Advance payday loans should only be used in REAL financial emergencies. They should be availed of in times of NEED and not in times of WANT.

If you must get an advance payday loan, the loan amount should never be a particular percentage of your actual payday amount. For example, if you want to borrow $500, you should be earning at least $2000 monthly in take home pay. This is the only way to assure that you have enough money to tide you over after paying the loan.

Tip No.16 Cash Advance Loans and NSF's

There are times when you need immediate cash and the only option you have is to get a cash advance loan. The worse scenario, of course, is if even this recourse is not possible because your loan got disapproved.

It is frustrating but there is a sure way to increase your chances of getting approved for the loan you applied for. Ensure that your checking account records are clean'. Accounts with a certain number of NSF's (non-sufficient fund) records are not a good thing to show to lenders.

Tip No.17 Fast Cash Loans - What NSF's Tell About You

Fast cash loans are great ways to tide you over financial emergencies. But if you do not have the money to pay for them, they can be a nightmare.

Did you get a no checking' fast cash loan? If so, you might get the loan alright but having NSF (non-sufficient fund) records can hurt you in other ways. For one, having NSFs may mean that you have a serious financial management problem. If you cannot get your finances in order, consult a credit counselor.

Tip No.18 Ensure you get approved for Fast Cash Loans

One way of ensuring that you get approved for fast cash loans is to read the lenders loan approval policy.

It only takes a few minutes to go over the document yet it drastically increases your chances of getting approved for a fast cash or payday loan. Remember that getting turned down on a fast cash loan can be tracked by other (future) lenders so having too many loan denials' on your record is not good at all.

Tip No.19 Fast Cash Loans - Lender Policy 101

One of the surest (and fastest!) ways to get approved for fast cash loans is to read the lender's Approval Policy and ensure that you comply or at least be aware of how they are checking up on you!

Is the lender asking for a Direct Deposit account? This means that the lender requires you to provide the bank account where your salary is directly wired by your employer. So if your employer is paying you via a check that YOU deposit, you won't get approved for a loan by this lender.

Tip No.20 Fast Cash Loans - Lender Policy 101 (part 2)

One of the surest (and fastest!) ways to get approved for a fast cash loan is to read the lender's Approval Policy and ensure that you comply or at least be aware of how they are checking up on you!

Is the lender asking you to confirm FULL TIME employment? This means that your loan application will NOT get approved if you are a part-time or temporary employee. It is best that you move on to another lender that requires only "at least 3 months" of gainful employment on your part.

Tip No.21 Payday Loans for Retirees

Payday loans are of course meant for people who have a payday date coming. That's why most lenders do not approve a payday loan to part-time or temporary employees.

However, if you are a retiree you CAN get a payday loan.

Just fill out the lender's online form and indicate your Social Security, pension, disability, VA benefits, etc. Not all lenders offer this loan so be sure you check the lender's Approval Policy or give them a call.

Tip No.22 Payday Loans - Best for Credit Card Payments

Payday loans are great resources if you are at the rope's end and REALLY need to pay your credit card. This is especially true if the credit card company charges a heavy penalty or applies high interest rates for unpaid bills.

Further, credit card non-payments are listed on your credit history and this will affect your chances of getting approved for other loans later on. Just be sure you get a payday loan from lender that applies a lower rate than the one that will be imposed by the credit card firm.

Tip No.23 Payday Loans - Best for Unexpected Car Repairs

Payday loans are great resources if you are at the rope's end and badly need your car repaired. Cars are not really luxuries nowadays but necessities.

So why suffer going to work without a car when you can have it fixed ASAP? That's not all; you might end up spending more commuting between jobs and having to pick the kids and getting the groceries. A payday loan is just the thing you need to tide you over this emergency.

Tip No.24 Cash Advance Loans + NSF's = Double Jeopardy

Here is the scenario you got approved for a cash advance loan and come the due date, the lender tried to cash in the post-dated check you provided.

You DON'T have sufficient funds so what happens? For one, the lender might apply a penalty fee. If you ask the lender to extend the loan, you will be charged an extension fee. And worse, because you allowed the lender to try and cash your post-dated check, your bank will put in an NSF (non-sufficient fund) entry in your records and charge you a penalty too!

Tip No.25 Cash Advance Loans - An Example...

Cash advance loans are great ways to tide you over financial emergencies. Unfortunately, some people cannot seem to grasp how they can easily go into debt with such loans. Here's a basic example you borrow $500.

However, since you earn not more than $2000 in take home pay monthly, this means that you need to give up $600 ($500 loan amount + $100 finance fee). Now, ask yourself if the remaining $1400 is enough to see you through till your next payday. If not, they you risk extending the loan or worse get another loan by another lender.

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