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Spending a little now
may save a lot later
Though payday advances generally cost more than traditional banking loans, they can actually help you save money.
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SecondWallet payday advances cost approximately $30 for every $100 borrowed. This is generally
more expensive than loans offered through the traditional banking system. However, using a payday
loan today can help you save a lot down the road. Here are some examples of estimated costs you
can avoid by getting a payday advance today:
- Bank charges for a bounced check (NSF Fee) - $35
- Retailer fee for same bounced check - $25
- Daily bank NSF fee (while balance is negative) - $5/day
- Bank overdraft protection fee - $35
- Credit card late fee - $35
- Credit card over limit fee - $30
- Utility bill reconnect fee - $80
- Protect your credit score - Priceless!
Get Payday Advance Now >>
Payday loans are short-term advances intended to be paid off quickly, and are not a solution to
long term financial issues.
If you would like to discuss other alternatives, feel free to contact a non-profit counseling
service in your area.
Or go to:
www.cccsonline.com
Various Truth-in-Lending laws require financing disclosures to be expressed as an Annual Percentage
Rate (APR).
This 'APR' is the cost of the credit advanced to you expressed as an annual rate.
This requirement provides uniformity among various credit sources, so you can compare rates and make
the choice that is right for you.
For the example below we use a $100 loan that is due in 14 days. Your APR% will change based on
the amount of time your loan is for.
Consequently if you pay later than the agreed upon date, or if you request to extend your loan,
you will owe more interest.
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Free Credit Report Information
ANNUAL
PERCENTAGE
RATE
The cost of my credit as a yearly rate.
730%
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FINANCE
CHARGE
The dollar amount the credit will cost me.
$30.00
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AMOUNT
FINANCED
The amount of credit provided to me or on my behalf.
$100.00
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TOTAL
PAYMENTS
The amount I will have paid after I have made all payments as scheduled.
$130.00
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