Category: Money Tips

3 Signs That Your Payday Lender Can Be Trusted (Or Not)

Payday loans have helped many borrowers deal with all kinds of financial issues and emergencies. People choose payday loans over secured loans because of an easier application process and simple requirements. Plus, the application period for a regular payday loan process can take only 30 minutes or less. Despite these many advantages, it’s undeniable that payday loans are still being used by financial predators. They prey upon borrowers’ weaknesses, introducing huge interests and excessive fees.


How can you these kinds of payday lenders? What are the telltale signs that you have to know?


Browse Online Reviews Thoroughly

Online reviews are great ways of knowing if the payday lender is trustworthy or not. Through these reviews, you’ll know what people think about the lender that you’re looking for. Online reviews are great determiners because they are unbiased and can explore the emotional stance of the reviewer. You probably know how frustrating it is to receive bad service, right? Still, you need to have a broad perspective because reviews can also be manipulated.


Visit Social Media and Lending Forums

If there are no reviews about the lender, social media is a great source of alternative information. Facebook, particularly, speeds up the relay of useful data by more than 100% daily. Comments are often thrown in a lender’s Facebook page. From there, you can make your decision. How many negative comments the lender has? How about positive feedbacks?


Another useful alternative is a financial lending forum. Not all financial forums are active, so you need to pick one that’s worth your time. In a financial forum, payday lenders are usually put in the spotlight due to their varying reputation. This can help you filter good and bad data about payday lenders.


Analyze the Lender’s Business Process

Searching for reliable accredited money lenders in singapore can be a tricky process. What if you jumped straight to the inquiry process and there are no other information sources to help you out? In this case, you have to rely on yourself and the power of the search engine. Do your best to observe the lender’s process. If the lender is asking for too much information and the rates are a bit off, then you have to rethink. As a borrower, you have full rights to examine your choices as often as you want.


You should keep in mind that not all payday lenders are crooks. However, it pays to be smart and vigilant over any financial transaction. After all, a payday loan can put you in a terrible financial compromise. If you really need payday loans and there are no other alternatives, make sure that you follow all of the strategies mentioned. On top of that, you should keep a list of the trusted lenders so you’d know which ones to approach during challenging times.

3 Payday Loan Variations That You Should Get

The payday lending arena has been subjected to countless issues in the past. All over the world, many payday lenders took advantage of borrowers, giving them high interest with little considerations. Payday lending became predatory lending, and borrowers received the poor end of the stick.

Now, times have changed for the better. Aside from better terms and conditions, payday loans have cool variations that can match your current need.


Here are some of the valuable payday loan variations around:


Guaranteed Cash Loans

Guaranteed cash loans are highly popular in the West, but it’s getting worldwide attention nowadays. Basically, this is a payday loan with a ‘guaranteed’ approval. There’s no way that you’d be denied for this loan, unless you’re not really credible or you withdrew your application.

Most guaranteed cash loans must be repaid in under two months, depending on how big is the amount. Guaranteed loans have a lower threshold than bank-issued personal loans. The requirements for guaranteed loans are also simple – lenders may only require 1 ID and a proof of billing.


1-Hour Online Loans

Personal loans are great and have fantastic support from banks and financial communities. However, it may take few hours before you can get your money. In some cases, lenders take days. A great alternative is 1-hour online loans. Just like what’s mentioned in its name, you can get the best personal loan singapore in under one hour.

This type of loan is great for dealing with immediate money matters of if your salary didn’t last for a week. You can find 1-hour payday loans in social media or online loan directories. Alternatively, you can ask around in your neighborhood if someone is willing to lend such a loan.


Short-Term Cash Advance

Cash advance is another term for payday loan.

There’s virtually little difference, but there’s another option: short-term cash advance. This type of loan shall be paid on short-term. You may feel rushed but the amount that you must settle is not that high. Additionally, short-term cash advance lenders will allow you to re-apply for the loan almost always.

Just remember that a short-term cash advance loan can be a ‘nightmare loan’ if you fail to repay it.


Payday loans are great solutions to your financial problems but you must use them sparingly.

If you don’t have a repayment plan, think twice before getting the payday loan. Failure to repay will lead to penalties that will compromise you financially.

3 Nifty Ways to Benefit From Your Payday Loan

Maximizing your payday loan is not as easy as it looks. More often than not, borrowers use their payday loans to solve their immediate financial dilemmas or purchase depreciating gadgets. Given the time frame and the high-interest rates of payday loans, you must definitely be firm in your buying decision. While it’s good to repay the loan in the quickest time possible, you should find ways to cash in effectively.

Here are some helpful ways to get you started:


Enter Buy-and-Sell

Buy and sell businesses are becoming more popular nowadays. With hundreds of products to choose from, you’ll gain a flexible way to reap profits. If you can’t find a startup capital, you can settle for a payday loan. Your product choices will depend on the amount of loan issued. If the amount is not that high, you can try buying and selling food items or useful everyday trinkets.

This can be a starting point because you can move on to other bigger and more valuable products someday. As your business becomes bigger, your profits will definitely increase.


Play Reasonably in Binary Options

Many people have invested in the stock market and got huge returns. However, it’s still too risky for small-time investors. Still, you can enter the world of trading with the help of binary options. All around the world, binary options traders are making money while spending only a few hours per day. Since the entry barrier for binary trading is not high, your payday loan would suffice.

Just don’t enter the trade blindly – do your research so you can learn more about the best strategies in binary trading. If possible, seek the help of experts. This is a shortcut because you’ll gain the knowledge that the experts have learned. Once you made profits with your trades, you can repay your loan and have a little bit extra.


Find Profitable Digital Assets

The Internet is a very useful tool which can give you countless ways to make profits. After getting your payday loan sg, you can try investing them into numerous online assets.

Some of these assets are money blogs, membership forums, scraped online data, affiliate sites, flipped items, and public label rights. Not all online assets are profitable, though. Still, with deep research, you can find valuable items that will give you huge ROI over time.

Payday loans are quick solutions that can help you deal with numerous financial situations in your life.

They can even help you gain new streams of income. However, utmost care is needed. If you cannot repay on time, payday loan fees and interest will send you spiraling towards debt nightmare. Don’t let that happen!