If you are low on cash,with no credit cards,would it be a good idea to go to a "cash advance" place?
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Answer:
Most of those places offer a way to establish "starter credit". They charge astronomical interest rates on the payback, but the "loan" gets reflected on your credit report. If you payback the loan as stated, then this could increase your credit rating and help establish credit history (which will help get credit cards or other lines of credit in the future). However, be leary of "fly by the night" places. Try a reputable company like Tower Loan or somewhere you've gotten a reference. The most important thing to remember is MAKE THOSE PAYMENTS! Not making the payments timely (or at all) will definitely hinder your chances of establishing credit for the future and do more damage than its worth. My advice is to not do a "payday" loan where a lien is placed on your next paycheck.just seems a bit too risky. Hope this helps
NO NO NO NO!
The interest that you have to pay is HUGE and if you don't have the money now, you won't have it later! Try another route.
If you are really desperate okay. However be advised the amount of interest they charege is out of sight! My advise, use only as a very last resort.
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No. Not a chance. Stay far far away from those places. They will kill you in interest. If you're low on cash now you will be flat broke after one of those loans.
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