Payday credit – is it same as credit card?
Credit card are loved by everyone but when it comes to paying the credit card bills, many people feel miserable; not because they can’t pay them but because if not paid in time a huge amount of interest is levied on them. Credit card is like an ATM in pocket but comes with a very high rate of interest. So if you don’t want to end up paying more amount than the actual value of the thing you purchased using your credit card; think clever.
Payday loans are short term loans that you can take to pay your credit card bills in time. Payday credit is different than credit card. First of all it is given for a short period of time, and one needs to be above 18 years of age and salaried to become eligible for payday loans.
Payday loan is similar to credit card in the sense both demand high rate of interest. But the best part about payday loans is that you take it until your next pay date. Payday credit is accompanied by rate of interest that you need to repay when to give the loaned amount back after 15 days. The best part is that it is certainly less than rate of interest imposed by many credit card companies. So you can take payday credit not only to pay the credit card amount.
Payday credit – is it same as credit card
You may think when you got to pay rate of interest in both why not pay rate of interest applied by credit cards and save yourself from the hassle of applying for payday loans. Well, many people use their credit cards not just for shopping; they pay their house installments, insurance installments as well as car installments through credit card. So if they don’t pay the credit card amount in time not only they will pay high rates of interest on the amount used but they will also become defaulter in the upcoming month due to insufficient amount in their credit cards.
Thus payday credit is an intelligent way of repaying credit card bills as well as other electricity and utility bills. Payday credit gives you ready cash in hand or your bank account that you can use to meet any emergency situation or your bills.
The procedure of applying for payday loans is simple. All you need to do is find a reliable company online or walk in to local payday lender and fill out a simple form. They will verify your details and possibly run a credit check on your name to ensure you are a non defaulter in terms of loan repayments.
The procedure is really simple and does not require much time and documents from the borrower. So next time you find out you are pout of cash whether it is an immediate necessity; repaying installments or paying utility bills you can definitely take the help of payday credit to set things right.
You can very easily do it online and sort things out in matter of 24 hours.
