With the easy and hassle free payday loans, an hour payday loan is just that. Without having a credit check and a simple online form, you can be approved for a payday loan within a hour. Online payday loans have become very popular for people who need money fast for a financial situation. The Internet has hundreds of hour payday loan services that are available for getting quick cash. The idea is to borrow cash for an emergency until your next payroll check. There are some things you should be aware of before you apply for an hour payday loan service.
As long as you have a job and meet the minimum salary requirements with the payday loan service and have a checking account, you can usually get a payday loan within an hour. Most people only need under $1,000 for their financial situation, so there is no credit check with an hour payday loan service. With the ease and hassle free payday loan services some people get carried away with what they need the money for. Buying a new sofa or computer may not be a good reason to get a hour payday loan. This is where some people can end up with problems getting payday loans because of all the wrong reasons. Hour payday loans can have APR’s up to 500% or more if they are not paid back.
When considering an hour payday loan, be sure to compare interest rates, fees and penalties. Payday loan lenders are required to give you all this information. If you don’t see what the terms are from the hour payday loan service you are considering, you should check out a different service. Make sure they are registered with the Better Business Bureau on their web site. You do not want to give an hour payday loan service your checking information if they are not a legitimate business.
With online Internet access it can be simple to compare payday loan company’s terms, so you will know what you are getting before you sign up for an hour payday loan. You can look into interest free payday loans for new customers. Just make sure you can pay back the loan on time or you may end up paying some high fees.
With an hour payday loan you should not have any problem with your loan as long as you pay back the payday loan with you next payroll check. If you think you can’t pay off the loan you may want to consider other alternatives to an hour payday loan service.