Fast No Faxing Cash Advance Frequently Asked Questions

Considering getting a no-faxing cash advance? Make sure to check out these answers to some of the most common cash advance questions.

What is a cash advance?

Also known as a payday loan, a cash advance is a temporary, short-term loan that normally can be approved quickly, allowing cash to be on hand in a short amount of time. Such loans can come in handy when unexpected financial crunches hit.

Do I need good credit to get a cash advance?

In most cases, your credit history will not impact whether or not you can qualify for a cash advance. Whether you have good credit, bad credit or no credit, you should be able to secure a cash advance. For more about this subject, read the information about knowing your credit rating.

How does a no-faxing cash advance work?

A no-faxing cash advance does not require any paperwork to be faxed to the lender. All information - age, employer contact information and bank account details - are provided via completing a simple online form.

What information do I need to obtain a no-faxing cash advance?

In order to secure a payday loan, you will need to provide your age, employment contact information and bank account details. Many payday loan lenders are subject to state laws that often require additional paperwork, such as a utility billing statement, in order to approve a cash advance. However, a no-faxing cash advance typically does not require any additional information or paperwork.

When will I receive the funds for a no-faxing cash advance?

Typically, you should receive payday loan funds within 24 hours. The funds will be deposited directly into your bank account.

When will the cash advance need to be paid back?

A payday loan is designed to be a short-term, temporary loan. The due date to pay back a cash advance is typically within 14 to 31 days, or when you will receive your next paycheck.

Are there any risks associated with no-faxing cash advances?

A cash advance or payday loan brings with it many benefits - no credit check, simplified paperwork, a quick approval process. With these benefits come some tradeoffs that are important to note. A payday loan is not intended to be a long-term solution. Unlike a mortgage or a car loan, which can be paid off over years, a cash advance typically will need to be paid off within a month's time. Additionally, payday loans often carry larger interest rates and fees than other types of loans. When securing a payday loan, you should be sure that you can pay off the loan by the due date if not sooner.

How is the interest determined for cash advances?

Interest rates for cash advances can vary. Typically, they are higher than other types of loans, which is why it is important use cash advances responsibly. For example, you could pay $25 for every $100 you borrow over a two-week loan period, which equates to a 650 percent APR. If you borrow a total of $500, you will owe the lender $625 ($500 + $125 in interest). For this reason, it is important that cash advances are used in cases of emergency when you really do need the cash as soon as possible.