Cash Advance Loans Online

What is a Cash Advance?

A cash advance is a type of short-term loan you can get from various lenders. It’s also the term used when the owner of a credit card withdraws a certain amount of money. In both instances, the amount of money withdrawn or taken out will have to be paid back, just as with any other type of loan.

As the two definitions above suggest, cash advances can take several different forms, including the following

• Merchant Cash Advances: This is a type of cash advance used primarily by businesses in need of cash flow. It’s slightly different from other types of loans: the money is given to the business up front, with the expectation of the lender earning a portion of the company’s profits.
• Credit Card Cash Advances: Using your credit card to take out a cash advance is just like using a debit card to withdraw money from your bank account. In this case, however, you’re withdrawing money you don’t have that you will have to pay back with interest.
• Payday Loans: Borrowers can write a check for the amount they want and receive that amount in cash up front. These loans are usually small, short-term, and unsecured.

Cash advance loans online and through other lenders can be a viable option if you’re hard-pressed for money quickly, such as in the following situations:

• Travel Expenses: Whether your trip is unexpected or planned, it’s likely going to cost you quite a bit. Online cash advance lenders are ready and willing to get you the money you need, when you need it.
• Poor Credit: You can usually get these types of loans even if you have bad credit.
• Housing Expenses: Maybe you don’t quite have enough to cover your rent this month. A cash advance can fix that.
• Car Repairs: Cars often need unexpected repairs. If you don’t have the money on-hand to take care of it, a cash advance can help.
• Medical Bills: You can use a fast cash advance online to cover office bills or copays.

How do you qualify for a cash advance?

You’ll need identification, proof of income, and a bank statement or personal check before you’ll be cleared for a cash advance loan.

Can I get a cash advance with bad credit?

Yes. Cash advances, or payday loans as they are also often known, are one of the few types of loans that lenders will give out to borrowers who have bad credit.

Is a cash advance a loan?

A cash advance can be a loan. The term is also used to describe making a withdrawal on a credit card—which you will have to pay back.

Can you transfer money from a credit card to a bank account?

Yes, you can transfer money from a credit card to a bank account, whether online, over the phone, or in person. You can also get a fast cash advance online.

Do cash advances hurt your credit score?

If you take out a cash advance or apply for and use a cash advance loan, your credit won’t be hurt—not initially, at least. Be conscious of the fact that loans and withdrawals on credit cards come with extra fees as well as interest rates you’ll also have to pay. If you won’t be able to make your monthly payments on the loan or credit card withdrawal, that will negatively impact your credit score.

What is the difference between a payday loan and cash advance?

A cash advance can be a payday loan or refer to the action of withdrawing cash off of an existing credit card account. In the context of a payday loan, a cash advance gets you a small, unsecured amount of money upfront that you’ll have to pay for—including interest and fees—by the time of your next paycheck.