Finances can be a true hassle at times, and there are many instances when individuals need access to cash immediately. For example, you may have an unexpected bill you need to pay, such as for a refrigerator repair or a ruptured pipe. Some things simply cannot wait, and you may be wondering what the fastest options are for getting extra cash. You have several options to consider. By reviewing these options, you may be able to determine the best option for your current situation.
Use a Credit Card Cash Advance
Some vendors do not take credit cards, and they require payment to be made with cash or checks. If you have credit available on your credit card, you may be able to take out a cash advance. You can call the toll-free phone number on the back of your credit card to learn how much money is available. Typically, you simply have to take your credit card to an approved ATM to pull out cash, and your credit card customer service department can tell you more. Keep in mind that you usually need to know your credit card PIN as well, and you can request this from the customer service department when you call.
Take Out a Payday Loan
If you do not have access to a credit card cash advance, you may apply for a payday loan. A payday loan may provide you with a few hundred dollars or more in extra cash. Many payday lenders have an online loan application and a fast approval process. Credit scores are often not a concern with these loans, and you may obtain cash deposited in your bank account within a day or two. However, the interest rate and fees on these loans can be high, so you should be prepared to pay the loan and fees off in full on the due date.
Apply for a Car Title Loan
Another idea to consider is a car title loan. Vehicle title loans use the equity in your car as collateral, so you will need to have a considerable amount of equity available. In some cases, the lender may even require that your car have no auto loan in place when you apply. These loans may provide you with several thousand dollars of cash, depending on the equity in your car. However, the loan term is usually 30 days or less. You should be prepared to pay the money, loan fees and interest charges back in full within a short period of time.
Borrow Money From a Friend
For most people, the above financing options may be available, and they can provide you with a fast and easy way to access extra cash when you are in dire need. However, in the event the above solutions are not available to you, you may consider borrowing money from a friend or a family member. If you request money from someone you know, do so very tactfully as you do not want to risk ruining your relationship. Every effort should be made to pay the money back in a timely manner, and you should agree to pay that person interest on the loan. In addition, keep in mind that even the most seemingly well-off individuals may have a cash shortage at times, and they may not be able to lend you money. Therefore, be open to the possibility that they may not lend you money.
These are among the fastest and most common ways for you to access money, but you may still have other options available. For example, you may be able to take out a loan on the cash value in a whole life insurance policy, or you may be able to sell or pawn some of your belongings to get access to extra cash. In some cases, you may need to use two or three ideas to get the full amount of money you need. Explore the options today as a first step to overcome your financial issues.