Cash Advance Loan vs a Credit Card
Most people think getting a payday loans is bad. They carry high interest rates, and you never pay them off. That being said, I would like the challenge this thinking. The industry of payday loans has changed a lot over the years. True for years the payday lenders would charge high interest rates to borrowers. The main reason for this is the default rate on these types of loans was high, so they had to increase the interest rate they charge to cover for nonpayment losses. And they would apply all a borrower's payment to the high interest they had to change. A borrower would never have much if any of their payment applied to the actual loan. So, they would never pay the loan off. That is where the payday loan industry got a bad reputation for putting people of a "debt treadmill". I would like to point out how the payday loan industry has changed. A payday lender wants to lend out money and get their money back with interest. They don't like having to squander their tim