Getting a cash advance online when you have other money options may not be the smartest financial decision ever made. An online cash advance is one option out of many, but you will want to make the best decision for your financial status.
Choosing best options is a smart way to handle your money. Quick options for cash like a low cost cash advance, payday loan or auto title loan may get the money quickly to you, but they also may not be the best choices. Your best bet to handling your finances is to know all of your options before you run into trouble. Some people make poor decisions when financially vulnerable; in fact many creditors prey on those vulnerabilities. Everyone will promote their service as the best option for you, if you qualify.
Cash advances from an online lender are one way to get money in a hurry.
Besides a cash advance, there are other money options which should be saved for last:
- Payday loans online
- Car title loans
- Pawn shops
- Credit card cash advances
- Private auto dealers which offers private loans for onsite vehicles
- Direct deposit advance – bank version of payday loans
- Borrowing from family and friends
- Zero-percent credit cards are a great offer if you use them wisely. The zero interest will usually cover balance transfers and new purchases but not cash advances. Read the fine print so you know how long the zero interest will last. After that, the interest will jump into the higher range and your remaining balance will suffer from it.
- Getting a second mortgage is a good way to consolidate your own debt. Payoff all your debt and make one lower monthly payment. The down side to this option is that you are taking unsecured debt (credit cards) and turning it into secured debt against your home. Upside is the low interest and payment is usually less than what you were paying in multiple payments.
- Margin loans will use stocks and bonds you may own as collateral. You will want to get with a stock broker or financial manager at best if this is an option you qualify for.
- Retirement plans are options which carry tight rules and consequences to using money ahead of time. The rates are low, you are using your own money, but you will have to pay taxes on it if you are not able to pay it off in the allotted time.
- Banks and credit unions will offer up loans if your credit is good. If not, many are now offering their version of payday loans. If the latter is the case for you, you will be better off using an online cash advance or payday loan lender since they have no access to freeze your account if your loan goes unpaid.
