Cash Advance Online: How Does it Work?

Applying for cash advance online

Most people know cash advance with the word payday advance. And also, many people know cash advance only relates to credit cards and other lines of credit. When it comes to credit card cash advances, you can easily get an advance from your bank’s ATM using your credit card. 

But as much as you can get credit card cash advance, this option comes with interest rates that can add up very fast. In an ATM, for instance, you will have to pay a fee for using the ATM and also a fee associated with the credit card advance. There are also finance charges that you may have to part with, not forgetting the interest rate if you fail to pay the money before the next billing cycle. 

Some credit card issuers offer cash advances with interest rates that are more than what’s charged on regular balances. This can highly increase the total cost of borrowing. If you want to enjoy all the benefits that come with cash advances without paying a high interest rate and fees, consider applying for a cash advance online. 

Getting a cash advance online

If you need quick cash, you might ask, ‘how can I get a cash advance online from lenders like Paydaynow?’ First of all, it is important to know that a cash advance from Paydaynow may have different features to those offered by other lenders. 

In general, a cash advance online is a small amount of money offered by online lenders which can be approved in as little as one business day. These loans are short term and need to be paid in a period of two to four weeks. Cash advances and payday loans work the same way. The only difference is that with cash advances, you can make multiple payments, unlike payday loans that need a lump sum payment. 

As the name suggests, everything concerning these loans is done online. In short, you don’t have to drive to a loan office to apply for a cash advance online. The application process, as well as approval and getting the funds, is done online. You will get a confirmation via email and if you qualify for the loan, the money will be wired to your bank account. 

Getting a cash advance from Paydaynow

It is easy to qualify for a cash advance with us so long as you meet our requirements. First, you should be at least 18 years old and have a steady source of income. The information required is minimal and you can complete the application in a matter of minutes. Here is important information that you must provide;

  •     An active phone number
  •     Current address
  •     A valid email address
  •     An active checking account

To verify your employment details, you will have to provide a copy of your payslip. As soon as you complete the application, you will get feedback within a few seconds. Paydaynow doesn’t do hard credit checks, and your credit score won’t be considered when making a lending decision. This makes it easier for people with bad credit to qualify for our loans. 

No faxing is required when applying for a cash advance online from us. Besides, you don’t have to worry about sending any documents. If you are a first-time borrower, you can qualify for a loan amount of up to $250. By making timely payments, you can qualify for a higher amount than this and your interest rate may also be lower. 

When you qualify for our cash advance online, you are the one to decide how you want to receive the funds. Bank transfers can take up to 15 minutes (an additional fee may be charged). Depending on your bank, you can receive the money in one or two business days. 

Paydaynow cash advance

Paydaynow does not have restrictions on how to use a cash advance online. So long as you apply and get approved, the money can be used for anything. We, however, encourage you to use the money responsibly. This is one reason why we offer financial education tools to help our borrowers use money wisely. We want all our clients to succeed financially. So when you apply for our loans, ensure that you pay on time and boost your credit score.

There are many reasons why you should consider applying for a cash advance online. This can be an urgent home renovation, car repairs, and an unexpected medical bill among others. Parents may apply for a cash advance online to buy books and pay tuition fees when their paycheck isn’t enough to cover all these bills. So long as you are approved for a cash advance, use if for any genuine short term need. Our cash advances are simple to understand and thanks to the minimal requirements, most people can also qualify.