If you are looking for a payday loan because you have a poor credit score why not consider a credit union loan instead? Credit unions offer small loans for short terms and the interest rates are lot lower.
Another alternative is to ask someone who has a good credit score to co-sign a a short term loan. This could result in a lower interest rate or more favorable terms. However, remember that in this situation, if you fail to make the payments, your co-signer will be responsible for the debt.
If your pay fluctuates because you sometimes get tips or bonuses you could consider asking your employer to advance a small amount of your next paycheck. Some employers will do this and make no extra charge in interest.
Some types of payday loans are not really payday loans at all. They can carry more risks so it is better to avoid some of the other alternatives that are around.
Title loans are sometimes offered as an alternative to a straightforward payday loan. These kinds of loans involve you signing over the title to your car. If you fail to pay off the loan, the lender can seize your automobile. Title loans also charge very high rates of interest and the terms include extra fees.
These types of loans are not strictly payday loans and although you can receive financial help without undergoing any credit checks, the term will be longer and the interest rate will be just as eye wateringly high. So, at the end of the loan you will be paying far more in charges.
A quick glance at a website is not enough to weigh up whether a lender is offering you a good deal. Always check the rates of interest, the total charges and what consequences are involved should you be unable to make the full repayment.
Look at the application form and make sure that you fully understand the process. You should also check that the website is secure. A good lender will always ensure that the application process is easy and streamlined. And, you should make sure that the lender is licensed to provide payday loans in your home state.
A lender that does not offer same day or next day funds is not offering a good service according to the market standards.
Any online lender offering guaranteed loans might be charging very high fees or rates of interest. You should also check that the process is fast as having immediate access to funds is a pre-requisite of needing a payday loan. A lender that does not offer same day or next day funds is not offering a good service. Taking your time and learning as much as you can about the offers of payday loans will give you the financial help to ensure that you get the right deal for your individual situation.