Do you think its a good choice to get cash advance from one of those cash advance location?
kenny asked:
Anyone knows the interest rates that they would charge at those places? I would need something around 1000..
7 Responses to “Do you think its a good choice to get cash advance from one of those cash advance location?”
That is NEVER a good idea!!!
Don't do it.
don't do it. your $1000 will end up being $6000 to $7000. Not a good place to go!
it depends on your situation. Unless what your doing with the money is worth more than 15-30% interest I would stay far away
World's biggest legal ripoffs . . . you'll get your $1,000 and then be in debt for life, paying back many times what they gave you. Avoid them like the plague!
paying back many times what they gave you. Avoid them like the plague!
NO, NOT, NEVER, go to a cash advance location. Why not go to a bank, a family member, or a friend. Cash advance businesses loan short term high interest. In many states they have come under fire for their high interest loans to those who can't afford to pay it back. In concept it should be an advance on your paycheck, meaning that you would pay them back from your next paycheck. What happens when your next payday comes? You not only can't pay them back, but you need to borrow more to pay back the interest. Not a good cycle to even start.
The interest rate is based on the insitution as to how much they are willing to charge you. I would recommend to check before you actually do it. However, a cash advance is there to meet your short-term credit need. I would never recommend not to use it, because it's addicting. You will keep advancing it every payday, bad idea. Apply for a loan or a line of credit. Good Luck!!!