Why Use Credit Cards Or The Family When You Have Easy Payday Loans Available?

Published on June 16th, 2014

There are a lot of options when it comes to getting financial help for most people. The standby option is to borrow from friends or family or, if you have good credit or a positive balance, to use a credit card. Both of these are reasonable solutions on the surface but if you look closer they may not be the as good as they look. Easy payday loans provide a quick, effective and efficient way to borrow small amounts of money when you just need to get through to next payday.

The Problem with the Family

The biggest problem with borrowing from your family, or your friends, is that you often have to spend a lot of time explaining why you need the cash. You also may have to listen to a lot of unwelcome advice, which is one of the reasons why people prefer to go with easy payday loans. It may also be difficult and embarrassing to have to ask and handling the emergency situation discreetly is often a big factor.

Even if you don’t have this issue you may still have a distance problem. Unless you have a way to get cash fast from the person you are borrowing from to your bank you may have to wait days for a bank to bank wire transfer. Other types of services that wire money can be costly, plus you still have to get to the agent to process the transfer and collect your cash.

Credit Card Crunch

By using easy payday loans you avoid increasing the balance on your credit card. Remember that each time you use the card you now pay a higher interest rate on the ever increasing total. This interest can be horrific over the years that the balances sit on your card if you are making only the minimum payment.

In addition, if you use your credit cards for a quick emergency type of purchase most people don’t apply the difference back on the card with their next check. Since with easy payday loans this will automatically be deducted, you don’t have to worry about constantly revolving balances and interest, everything will be automatically paid off with your next deposit.

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