Payday Loan Company Compare Payday Loan Companies To Get The Lowest Rate

Payday Loan Company Compare Payday Loan Companies To Get The Lowest Rate



Payday Loan Company - Compare Payday Loan Companies to​ Get the​ Lowest Rate
Payday loan companies vary in​ the​ rates they charge customers .​
You can find low rates by comparing the​ offers of​ payday loan companies .​
The annual percentage rate (APR) is​ an​ easy tool to​ find who has the​ best deal .​
You also want to​ take a​ look at​ payment plans to​ make sure you​ don’t get taken in​ by late fees.
Look For the​ APR
The APR is​ the​ cost of​ the​ cash advance for a​ year .​
Fortunately,​ the​ majority of​ people pay off their payday loan is​ less than 30 days so they don’t pay such high fees .​
But by comparing the​ APR of​ several lenders,​ you​ can find the​ best deal.
Most often the​ APR will be listed in​ the​ ‘FAQ’ or​ ‘How It Works’ section of​ an​ online payday company .​
If you​ can’t find it,​ simply email the​ company with a​ request .​
By taking a​ few minutes to​ compare rates,​ you​ can save a​ few dollars.
Finance Fees
The actual cost of​ your loan will on​ average be about $15 for every $100 you​ borrow .​
a​ payday loan company charges the​ same rate to​ everyone since there are no credit checks .​
In the​ company’s eyes,​ everyone has the​ same credit background .​
The only variable is​ your income level,​ which will determine in​ part how much you​ can borrow.
Some online payday companies also offer a​ reduced finance fee for first time borrowers .​
You will want to​ make sure they have a​ competitive rate to​ begin with,​ but it​ is​ certainly worth checking out.
Payment Plans
One way payday loan companies can get you​ is​ by delaying payments .​
They might just debit the​ finance charge or​ a​ small part of​ your principal from your checking account .​
While the​ small charge may seem nice,​ you​ are actually adding on​ more financing fees for the​ time delay.
When you​ apply for a​ cash advance,​ make sure you​ opt for the​ full payment on​ the​ day you​ get paid .​
Some lenders will automatically default to​ this plan; others will require you​ to​ call or​ fax your request to​ the​ company .​
You can always change your mind later on.




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