Why Choose a Payday Loan Line of Credit over a Credit Card?

When it comes to getting credit you have more than one option. You have the freedom to research your choices and decide on a plan that best meets your needs. So why is a payday loan line of credit often the better choice than a credit card? Here are just a few of the many reasons.

A Payday Loan Line of Credit is for Everyone

As long as you have a job, you can probably get approved for a payday loan. Unlike other sources of credit, your financial history is not scrutinized down to the last detail with this kind of credit. It really is a source of cash that is available for everyone.

Don’t Let a Credit Card Hurt Your Credit Score

When you get a payday loan line of credit you actually have a good opportunity to improve your credit score. Taking out credit responsibly helps. Unfortunately with credit cards, people tend to get in debt, stay in debt, and end up hurting their credit scores.

Rates for a Payday Loan Line of Credit Don’t Depend on Your Credit Score

Did you know that a credit card company can raise your interest rate if it sees a mistake on your credit report? With a payday loan line of credit you get a rate up front with no tricks or sudden changes.

Avoid Hidden Fees with a Payday Loan Line of Credit

Credit card companies can be sneaky about what they charge you. There are late payment fees, fees for going over your limit, balance transfer fees, and even annual fees for some cards. With a payday loan line of credit you will know what your rate is and any fees up front, no surprises.

Credit Card Companies Want You to Stay in Debt

The card companies want you to be in debt and encourage you to do so by allowing you to make minimum payments that often only cover the interest rate. The longer you are in debt, the more they make. You can use a payday loan line of credit responsibly and avoid getting into long-term debt.

Make the Smart Choice with a Payday Loan Line of Credit

You can apply today for your payday loan line of credit and borrow responsibly. Get a source of cash for when you need it, not just to rack up expensive purchases you can’t really afford. Get started today and you could access that cash as soon as tomorrow.

Why Choose a Payday Loan Line of Credit over a Credit Card? By Mindy Lobo - 8/4/16