Borrowing Advice

Your advanced payday loan borrowing experience will be much more pleasant if you go into it well-informed. Get essential borrowing advice here.

Know Your Limits

A common mistake payday borrowers make is overextending themselves with advanced payday loans. Lenders are sometimes generous with their qualification amounts, which lures consumers into borrowing more than they really need and can afford. Before you even apply for an advanced payday loan, calculate the exact amount of money you need to borrow. Even if you qualify for a larger amount, stick to your original figure.

Choose Your Advanced Payday Loan Company Wisely

When it comes to online payday loan companies, you don't want to select the first lender you run across without a second thought. The payday loan industry is replete with untrustworthy lenders who take advantage of consumers in dire financial straits. Unless you do exhaustive research, you shouldn't risk choosing a payday lender on your own. Instead, you should rely on a referral service like ours that has pre-screened the companies and verified their integrity. We include only the most experienced and honest lenders in our referral network.

Prepare for Your Due Date

Once you take out your advanced payday loan, make a note of the due date right away. Your lender may allow you to extend the due date, but you should avoid doing so at all costs. Budget and save so that you have enough money in your bank account to repay the loan and the concomitant charges on the original due date. Extending the loan for more time may be convenient, but the costs will be prohibitive. Most lenders assess hefty additional finance charges for due date extensions, and you will end up paying interest rates in the triple digits by the time you finally repay the loan.

Compare Interest Rates

Don't take out an advanced payday loan without comparison shopping first. You not only want to compare the finance charges of different payday loan companies, but also those of other borrowing options. For example, if you have the option of taking out a credit card cash advance, you might compare those interest rates and charges with those of payday loans. Try to compare a minimum of three different offers before you commit.

Some payday loan myths have also been cleared up on this site for you to learn from incase you have heard some things that you might be wondering about.