Cash Advance – A Great Thing in an Emergency A cash advance is a short term loan meant to bridge the gap between pay periods in emergencies only. Cash advances should not be used for the things you would use other credit outlets for. Don’t think about it as a way to get some cash for the weekend or buy a new toy. This is for emergencies only. Because of the very short term nature of these loans the interest is very high which means they also should not be used to try and solve larger long term financial obligations. In other words, don’t use your payday loan to pay down credit card debt or other debt.
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