Cash2Go Payday Loans & Cash Loans
If you need fast cash to get you by until pay day arrives then a cash advance or payday loan may be the answer. Here’s a guide to the short term loan industry, along with some helpful tips to ensure you get the best deal possible.
Sometimes pay day just doesn’t come fast enough for us. Especially those of us that get paid monthly or bi-weekly. Before the creation of the payday loan there were few options for those needing to get their hands on some cash for the short term.
CASH LOANS MADE EASY!
Need cash today? Simply complete the short Apply Now process and get your online decision within seconds!
- Loan Amount: $1000
- Loan Term: 4 Weeks
- Turnaround Time: Same Day
- Total Cost of Borrowing $100: 33
- Bad credit Ok
- Same day cash loans
- No security needed
- Quick Approval
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| Description | Loan Amount | Term of Loan | Turnaround Time | Requirements | Total Cost of Borrowing $100 | ||
|---|---|---|---|---|---|---|---|
Cash2 Go |
Need cash today? Simply complete the short Apply Now process and get your online decision within seconds!. | $1000 | 4 Weeks | Same Day | you must be over 18, are in full time employment, earn over $1000 a month, and can afford the repayments. | 33 |   |
Over the years more and more payday loan and cash advance companies have surfaced, yet there is still some confusion about what these loans are and how they work. Let’s break the industry down into bite size pieces so you can see whether a payday loan is the best credit solution for you.
What Are Payday Loans?
A payday loan like the name suggests is a loan aimed at people who only need money in the short term. Unlike normal cash loans they aren’t designed to be taken over a long period of time. Have you ever found yourself needing to pay a bill a few days before your next pay check and not having enough money to make the payment?
This is the exact situation where a payday loan or cash advance could help you out. You simply apply for the loan, and once accepted the money will be wired into your bank account. When you next get paid you repay the debt in full plus a little interest. No tie ins, and no risk of large debts building up!
If you’ve been in a situation where you needed financial help between pay checks what did you do to get by? You may have borrowed the money from family or friends, or like many people do you may have even applied for a credit card.
Although borrowing money from family or friends is less risky it isn’t always possible. Especially in this day and age where everyone is a little strapped for cash. Borrowing money on a credit card may seem like a good option, but it can lead you into severe debt.
Because a credit card is a rolling form of credit there will always be a temptation to spend money with it. The other problem with the credit card option is that repayment is left up to you. If you only want to pay the monthly minimum instead of repaying the total borrowed you can. This leads to interest charges and it won’t take long for a small debt to grow into a very big and scary one.
A payday loan has to be paid back when you get your next wage packet. The date is agreed when you take out the loan so there is no way you can rack up any huge costs, and you can’t spend any more than you planned to.
Quick and Easy
The other thing that makes payday loans much more attractive than borrowing money on a credit card is that the application process is quick and easy. More importantly depending on which lender you choose you may even get the money the very same day you apply. How’s that for fast cash when you need it?
There is also less likely-hood of a bad credit history hampering your ability to borrow. As long as you can prove your in full time employment you should still be accepted. This is mainly because any money you borrow will be paid back from the money you receive in your next pay check so the risk to the lender is very small.
How Do These Loans Differ From Bad Credit Loans?
There is often confusion surrounding the relationship between payday loans and bad credit loans. In reality they are two very different products with a few parallels.
Bad credit loans are primarily aimed at those who have adverse credit and who struggle to get a loan elsewhere. Nothing can be more worrying and unsettling than knowing you have bills that need paying, or grocery shopping that needs doing when you haven’t got the money to do it.
Imagine being in that situation, but having a credit history that makes you unattractive to lenders. If you’ve had debt problems in the past it’s possible your credit history is now bad enough that many (if not most) lenders will refuse to lend you any money. This is where a bad credit loan could come to your rescue!
The main differences between a payday loan and a bad credit loans are that length of time you borrow the money for, and the amount you’ll pay back in interest. Bad credit loans are normally taken over a period of time and can be paid back in smaller chunks. They are also a little more expensive in terms of the interest you’ll be charged on what you borrow.
In a sense the companies offering these loans have consumers over a barrel. They know those applying are very unlikely to get credit elsewhere and so they charge a premium. This in itself is not a bad thing as the lender is taking some risk themselves in lending the money to those with credit problems.
Although the bad credit loan industry has had a bad rap in the media in the past, it should be noted that the industry as a whole is completely above board and legitimate. Unfortunately as with most industries a few bad apples mistreated customers, and gave the business a bad name.
As long as you deal with a professional company that is properly regulated by the financial authorities your borrowing experience should be a positive one.
So What About Cash2Go?
With so much bad press around in regards to payday loan and bad credit loan companies it’s more than understandable if you’re feeling a little apprehensive about taking the plunge. You want to know you’re in good hands, and that more importantly you’re not going to be overcharged and left high and dry.
With Cash2Go you will not have a problem. Cash2Go is a brand and trading name of First Stop Money. First Stop by no means a newcomer to the short term loan market with over 60 years experience behind them.
One of the largest online lenders around, they have been responsible for helping hundreds and thousands of customers find cash when they needed it most.
When you borrow from Cash2Go you know you’ll be in safe hands because they are fully regulated and governed by the National Consumer Credit Protection Act 2009, and the Privacy Act of 1988. They also have a Australian credit license number which is clearly displayed on their website for you to check out.
What’s The Cash2Go Borrowing Process?
The application process is designed to be quick and efficient so you can get the money you need as soon as possible. When you apply via their website you could receive a decision with a few minutes.
You just need to fill out a short application form and Cash2Go will do the rest. The information they need from you is very basic and won’t take long to compile. They simply need:
- Your name
- Your date of birth
- Your address
- Details of your employment
- Bank details so they can pay the money to you
Once you complete the application hit enter, and within a minute or two you’ll receive an offer of loan. At that point you just need to verify the information you’ve given, officially agree to the loan contract, and the money should be transferred to your bank account the very same day.
The great thing about borrowing with Cash2Go is that once you show you’re a reliable customer you’ll be able to borrow from them again, and may even be offered slightly more credit if you need it. They also keep your information safely on file so if you do borrow again you won’t have to fill in the whole application a second time.
How Much Does It Cost?
So borrowing from Cash2Go sounds very easy but how much is it all going to cost you?
Well they make it very simple to understand. They don’t charge any sort of application fee, rather a flat fee of $33 per every $100 dollars borrowed. For example a $200 loan would see you paying back $266, whilst a $500 loan would see you repay $665. Whilst this may seem more expensive than a high street loan you must remember that these loans are only meant for the short term so interest is not being compounded on itself. That is where most high street lenders make most their money.
Apart from that there are no other fees unless you default or miss a payment. If you happen to be late these are the charges you will pay:
- Letter of default- $10
- Rescheduled payment- $27.50
- Returned direct debit- $38.50
- Missed payment- $38.50
- Late payment- $38.50
- Direct debit collection charge- $1.10
As you can see these charges only really apply to you if a payment is missed and needs to be rearranged. If you’re organized with your payments, and ensure that everything is paid on time you shouldn’t ever have to pay any more than the standard agreed rate of interest.
The Cash2Go Personal Loan Calculator
One of the most useful features on the Cash2Go website is their nifty personal loan calculator. The tool is designed to show you exactly how much you would pay back depending on how much you borrow. All you need to do is punch in how much money you need to borrow and the calculator will work out the total amount you need to pay back, in addition to offering you a break down of payments for those wanting to put money aside weekly.
This tool is very important for a couple of reasons. Firstly it allows you to know from the very beginning exactly how much the loan is going to cost you. It’s much easier than you think to try to calculate the cost of a loan yourself only to discover you make a mistake that costs you money. The second reason this tool is important is that it shows you how upfront and transparen’t Cash2Go are about their products.
Many companies will hide behind lots of sales jargon without actually giving you the facts. With the Cash2Go calculator there are no secrets and no surprises.
If you are nearly convinced that Cash2Go are the best payday and bad credit loan company to choose then hopefully some of these frequently asked questions will help you make your mind up.
Frequently Asked Questions
- How fast will they send me the money? In most cases if you apply for your loan before 3pm you could receive your funds the very same day. Even if you miss the 3pm deadline you should still only have to wait 24 hours to get hold of your cash.
- How much can I borrow? Once you have established yourself as a customer you can borrow up to $1000 at a time. When you take out your first loan you’ll be looking at a maximum of around $200.
- Will I be given a check? No. Cash2Go only pay money directly into a bank account. This is better because a check often takes a day or two to clear.
- Do I need a credit check? As with any lender Cash2Go will run a credit score on you. However you shouldn’t worry if you know you have a bad credit history. Remember that the bad credit loan is aimed at customers in your situation, and even if you’re applying for a payday loan the lending criteria for short term loan companies is far different to the high street lenders.
- Can I take out more than one payday loan? Cash2Go does what it can to ensure it’s customers don’t get into debt they can’t afford and so it’s standard policy is to only let you have one active loan at a time. As soon as one is paid off you can apply for a new loan straight away.
- What if I lose my job? In the unfortunate event you lose your job after you’ve taken your payday loan let Cash2Go immediately. Their customer service team is very understanding and will do what they can to assist you find a suitable method of payment.
- What happens if I change my mind about borrowing? Sometimes situations change and if you find that you no longer need the loan you can take advantage of the Cash2Go “no worries guarantee”.
As long as you email the company within 24 hours of the loan being granted you can simply return the money without being charged any interest or fees. It means that if you manage to find the money elsewhere or your work happens to pay you early you won’t be out of pocket. This is a feature not many companies offer.
Is a Payday Loan Right For Me?
This is a question you need to answer before you apply. What exactly do you need the money for, and is there any other way of dealing with the situation?
If you owe someone money is it possible they could wait until you next get paid? If a bill payment is due, contact the company concerned and see if they can make arrangements for you to pay a few days later than usual. Most companies are pretty sympathetic. Especially during a time when many people are facing financial difficulty.
If there is no other solution to your problem then getting a payday loan or cash advance is certainly a better answer than borrowing money on a credit card. Sticking to a well known and reputable lender like Cash2Go will ensure you’re well looked after, and that you’ll be getting a fair deal. Take a look at the various products available on their website, and don’t forget to take advantage of their very useful loan calculator.
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