They are out there. You know those credit cards who promise you no interest for applying and using their new card? I got one of those and purchased a laptop. It sounded great, no interest for 12 months! I thought for sure that I had found gold. About six months into paying on it, I decided to read the fine print. I had to have that whole purchase paid off before that 12 months was up in order to qualify for the no interest. Failure to pay off by the deadline, brought an influx of interest charges accrued from the very beginning. I sure did juggle my money around and even put in extra hours at work just to get it paid off in time.
There are lots of money traps like this one. If I hadn’t read the fine print, I would have had additional months of payments to make. Long term payoffs tend to increase the cost of the item by quite a bit. A cash advance will give you money to pay and then the payoff is with your next paycheck. There is no fine print to get confused with. You help to set the date of your payoff. Straight forward business with access to fast cash.
