An online cash advance website is regulated to be clear on fees and interest. Best practices and state regulations have made it clear to all lenders that any misinterpretation of the cost of a short-term cash advance is a clear sign of a predatory lender. Look for clear cost descriptions. You should not need to try to figure out why you spent more than initially determined.

Spend time to understand cash advance costs.

It isn’t just a short-term loan lender website which might try to not be upfront with costs. Go into the stores and you will witness pricing tricks in which some have been in operation for years.

• Using $.99 or $.95 at the end of prices attract shoppers.
• Pricing items with no cents.
• Omit the dollar sign to disassociate the cost from value.
• Seeing 10 for $10 and thinking that you have to buy in bulk. Talk to the store manager in order to fully understand how this sale works. you may find that you only have to purchase one for $1.
• Limits on product purchases are used to entice a buyer to purchase the full limit. Many shoppers will buy all they can to avoid missing out on such a good deal.
• BOGO! Buy one get one free is a great way to get shoppers to purchase extra. Free anything can attract all kinds of shoppers.
• A sample price is a good way to lure people into buying items they would not normally purchase. When you come back to purchase another, there will be a significant increase in the cost.

One of the largest tactics of merchants is to get customers to purchase more than normal.  It really isn’t saving money when you are purchasing items off the list. It also does not make sense to buy items in bulk and then risk having them expire of not have room to store them. If you are going to go for a deal, make it worth your time and money in the long run.

Take out only the cash advance amount you truly need.

Processing an application with a  cash advance company which offers larger loans than the competition, or faster service may not be the best place to process a money transaction. Stores which play the game of dollars and cents are looking to catch people off guard. It is the same with lenders. It is the shopper which needs to be smarter in the long-run and figure out, “How much is the loan going to cost me in the end?” Don’t let the thought of saving money lure you into spending more in a store or let a lender lure you into applying for a loan when you are unsure of the cost.

What else would a predatory cash advance lender do?

Another point to consider when using a lender who offers more than most lenders would, is what other rules that lender could be breaking. If the lending rules are broken, what happens with collecting rules? They are all regulated, so why trust could you put into that the lender will have your best interest in mind? Do your research.

• Know what lending laws are allowed in your state.
• Don’t get a loan for more than the bare minimum needed.
• Shop for a  lender with lower fees.
• Work with a cash advance lender who follows best practices.