I used an
online cash advance, probably a couple of months ago. When I was searching for loan options several websites warned me about the cons of taking cash advances online. But in my personal experience, everything went well.
I think it was because I researched thoroughly before committing to anything. The lender I chose was offering the lowest interest rates compared to the other options I had.
My credit score at the time was around 520. So, you can say it was average but I still qualified for what I consider the best terms! I wanted to borrow $3,500 and My Payday Loans Online offered me an APR of 32.04 percent.
This website doesn’t demand repayment in lump-sum, which is the best part. Paying off such a large amount felt easy (and it was) because I was expected to pay in installments.
The lender I was paired with gave me an option to repay in 3, 6, or 12 months. Considering my budget patterns, I chose to repay in monthly installments over 6 months.
The monthly payments were $639 and there were no prepayment penalties. I didn’t end up in debt, I didn’t default on my loan, and I could comfortably repay.
That is why I am sharing my experience so confidently here. Thank you for reading. I suggest that you compare as many lenders as you can, find a genuine one that offers low interest rates, and later stick with that one for future borrowing.
However, refrain from using the money for everyday expenses. Only borrow what you need, and do so only in times of emergencies.
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