Monthly Archives: October 2013

Holiday Season Is Huge Market For Short Term Payday Loan Lenders

Consumers have found that one way to get the cash they need without going through the harsh approval process of a bank is to get a payday loan. The best time of year for payday loan companies has been consistently the holiday season. This boom is because of a number of reasons, the main one is that the unexpected tends to happen at the worst times, which for most families, is during the Christmas shopping season, not to mention the bills that also need to be paid and the toys that just have to be bought during this time.

Unexpected Events, Unexpected Costs

We have all been there, the car breaks down, you get a flat or you fall off the roof hanging lights, breaking your leg so you can’t work for a month. Odds are, if any of these things are going to happen, it is going to be sometime between Thanksgiving and Christmas. The best way for people to get the cash they need when the unexpected happens is to get a payday loan. This type of loan can be deposited into a bank account within 24 hours of applying for the loan with the only stipulation being that the borrower does not have any other outstanding payday loans.

Bills To Pay, Things To Buy

Most families spend close to $1000 on Christmas presents for family and friends as well as children and even pets. The problem is that when families live on a tight budget, purchasing presents can be hard on the finances, especially when bills need to be paid. The fact is that utility companies and banks are unforgiving and frankly, do not care that it is the holiday season and that your kid just has to have the latest smartphone, they will, and can, shut off your lights, repossess your car and make your life miserable even though it is the holidays. Most people only need a few hundred dollars to get caught up and to just get through the holidays which is exactly what the payday loan will do. Getting a payday loan saves families every year from having to choose between giving their kids what they want for Christmas and making sure the bills are paid.

Some people argue that the payday loan route is a bad decision because of the Annual Percentage Rate, or the APR. What most people do not see is the key term in this; “Annual.” These are short term loans, generally only about 2 weeks so the interest charge is relatively cheap compared to that of what most people pay throughout a long-term loan through a bank. Whatever the case, payday loans continue to help families through the holiday season.

Tips For Locking In Good Finance and Credit Deals

Tips on Getting the Best Credit Card Deals For 2013

Although there has been a claim that the economic crunch may have stalled the use of credit cards, this may not be the case. Statistics show that as of May 2011, the revolving debt was $793.1 billion in US and out of this, 98 percent was from credit cards. The average credit card debt from these statistics was noted to be $15,799 per household. There are many rewards cards you can opt for and it is important that you get one that fits your spending patterns. General cards will entail higher rewards rates so that you can enjoy ubiquity and flexibility.

Specific cards like airline credit cards may attract lower rewards rates. In addition, if you carry a balance, opting for rewards cards may be tricky because they attract higher APR and other fees that may constraint your finances. Though you may be enticed by the good deals offered by the rewards cards, this may not be the best option cause interest rates attached are high and you could save more with a low interest card.

One thing you need to consider is time horizon. If you are taking airline credit card, you may enjoy the signup bonus, which may total up to a couple of hundreds of dollars but then again these cards come with annual fees. The reason why you have to watch out for the timescales is that you need to optimize on the sign up bonus. If an airline card offers you $250 dollars as sign up bonus and it charges an annual fee of $80, it will require you not to hold the card for more than 3 years. If you hold the card for five years, it means that your bonus will be taken up by the fees and you end up paying more at the end of the period.

Another aspect you need to examine is the rewards redemption. You need to know how worthy the points or miles of a card are not just the points you get. This enables you know how you will benefit from the credit card. Some cards have a limit of rewards in a certain period. If you are taking a rewards credit card, you need to know if there are limitations on rewards because this could deprive you enjoying the benefits.

Being limited on the amount of rewards you can get in a month means that when you spend more, you are only entitled the points that are stipulated on the terms of agreement. Moreover, people need to check on the bonus categories. Many of the credit cards do not offer flat rewards rates. They have extra rewards that you can use for gas, groceries, and other things and you need to find out all the categories featured in the reward plan.

Getting a card that privilege different categories of rewards enables you enjoy a range of benefits on your points. You can use the points on grocery stores, gas outlets and other items depending on how many points you have gathered. If you are opting for airlines credit card, you need to understand that it will depend on how frequently you fly. If you fly often, you will most likely gather more points and you can use them to redeem goods and services.

You may get free flight ticket or oven use them in stores to buy other products, which are featured in the bonus categories. With heightening economic times and the aftermaths of the economic crunch, consumers are seeking ways in which they can get value for their money. Credit cards offer flexibility in spending and also limit the amount, which people can spend. Rewards credit cards are even much better only if they are chosen wisely.

The following article was provided by the editorial team with short term loans nework, whose primary goal is to bring consumers the best finance and lending offers to help them save with their everyday finances.