How Instant Cash Loans Can Service Your Credit Card Bill

Did you know that you can use instant cash loans to pay off your credit card bill? The process of getting yourself in debt to pay off more debt may seem crazy but the interest on instant cash loans is far lower than what you’ll have to pay if you miss credit card payments.

If you were just to consider the respective APR’s of credit cards and instant cash loans, there would be no contest. Most credit cards have an APR of around 20-30% whereas instant cash loans may have an APR ranging from 400-4000%. Surely, taking out a cash loan online is not the best way to deal with your debt problem in this instance? Believe it or not, it is, and this is purely down to the fact that not all debt is equal.

Special Credit Cards = More Debt

People with bad credit are often left out in the cold by financial institutions which is why they sometimes get themselves into further financial trouble by taking the only offers available to them. Unfortunately, many of these offers lack the transparency of instant cash loans and this sees the consumer being badly burnt. A perfect example of this are credit cards specifically designed for people with bad credit.

 So called ‘high risk’ individuals can apply for a credit card which offers a starting limit of $250. Generally, there is a program fee of between $90-$100, an annual fee ranging from $40-$50, an account set up fee ranging from $25-$30 and a monthly service fee of between $5-$10. Unfortunately, all these fees count towards your limit so in reality, a $250 limit is actually between $60-$90 which is terribly low. Some people aren’t even aware of this and they quickly go over the limit which carries a fee of up to $30. Suddenly, the credit card designed to increase your credit score has cost you more than $200 in fees!

 Instant Cash Loans = Manageable Debt

Compare this to instant cash loans which are available to people with a poor credit history. Unlike the ‘special’ credit cards, there are no extra fees associated with the loan if you have bad credit. All applicants are treated equally because the instant cash loan company is obliged to explain all fees and charges up front. They are not allowed to change these fees based on a person’s credit history. Thanks to instant cash loans, you can quickly pay off your credit card bills, not pick up extra fees, not see your credit score damaged further and not be forced into looking for a new credit card for people with bad credit which only makes the situation worse.

 It’s estimated that the average American household has credit card debt of over $8,000. Failure to pay these extra bills on time will only see a raft of additional charges being added. Going over your limit will see you hit with severe financial penalties and even having the ability to pay off the minimum monthly limit is not good enough. All you are doing is servicing credit card interest. With instant cash loans, you can quickly get your credit card debt under control with a planned cash loan online.