if so how was the experience?
2006-06-10 05:58:37 · 8 answers · asked by LOLO 3 in Computers & Internet ➔ Internet
if i borrow a hundred how much will i have to pay back?
2006-06-10 06:17:39 · update #1
yeah its okay just pay it off as soon as you get paid otherwise you rack up major fees!!! Usually about 30 buck per hundred dollars you borrow that you have to pay everypay until you get the whole thing paid off so you borrow 300 and it takes you 3 paydays to pay it you would have actually paid back $570 not real great
2006-06-10 06:02:08 · answer #1 · answered by laura468 5 · 2⤊ 0⤋
In my state they take your check for $115 and give you $100. They cash your check two weeks later. (There is also a one-time $25 registration fee.)
$15 for $100 loan is 15%, BUT - it is 15% for two weeks. There are 26 2-week periods in a year. 15 times 26 = 390. So, you are really paying 390% annual percentage rate.
Most credit cards charge 18% per year. 18% is much less than 390%.
Most poor people who use cash advance get stuck; at the end of the two weeks they have to write ANOTHER check for $115 so that check#1 won't bounce.
So, for $100 now you may be paying CashAdvance $15 every two weeks for a long, long time.
2006-06-10 13:06:06 · answer #2 · answered by Gene E. Ologist 3 · 0⤊ 0⤋
My fiance has been to a cash advance place.You write them a check and they hold it for a couple of weeks.If you don't pay they deposit the check into your bank account and then you can get into trouble if the money isn't in your account.They also charge a fee,my fiances was about $45 per loan,so everytime he paid he would have to get another loan.He finally got out of it.Best bet is to go to a loan office and get a starter loan for around $200 and pay it off with the payment plan they give you.That can help build your credit too.Try to avoid getting any loans if you can,but if need be go to a loan office rather than a cash advance.
2006-06-10 13:04:42 · answer #3 · answered by miss.douchebag 2 · 0⤊ 0⤋
If it is anything like those case advance/title loan places, DON"T DO IT. It's a rip, and they take up to 25% of the money that you pay back.
2006-06-10 13:00:52 · answer #4 · answered by Matt 3 · 0⤊ 0⤋
I have used Cash Advance where you walk into the place and get the money.It is pretty cool.The fees aren't too high either.
2006-06-10 13:00:59 · answer #5 · answered by Kitty? 6 · 0⤊ 0⤋
I'll loan you money at 465% per year all day long.
2006-06-10 13:01:45 · answer #6 · answered by parshooter 5 · 0⤊ 0⤋
NO
2006-06-10 13:02:39 · answer #7 · answered by metamarau2 1 · 0⤊ 0⤋
no. don't do it.
2006-06-10 13:01:36 · answer #8 · answered by boo 5 · 0⤊ 0⤋