So you’ve hit “ZERO” on your bank balance a week before payday and there’s no one you can ask to lend you money, you don’t own a credit card and you definitely won’t survive 7 days without cash. All because your car broke down earlier in the month and you had to take your dog to the vet. Now what?
You have two options, you could try to find a quick way to earn cash or you could apply for advanced cash, also known as a payday loan. Since option two is the easiest option, it’s the one most people choose, but before you do, here are some things to consider.
Pros of Advanced Cash in Christchurch
- Quick cash in your pocket
You can quickly get your hands on cash. Zebra loans offer a 60-minute guarantee, should you apply online and qualify for the loan, to begin with.
- Easy to apply online
The application process is straightforward. All you need is a computer, 3 months bank statements, an email address and a valid phone number.
- No credit checks
Employment verification is sometimes required but no credit checks are done when applying for advanced cash.
Cons of Advanced Cash in Christchurch
- High interest rates
Because payday loans are so convenient, they tend to have high interest rates when it comes to repayment. At Zebra loans interest is charged at 1.5% per day on the unpaid balance.
- Not a long-term financial solution
If you need cash to pay off debt, you will only borrow yourself deeper into debt. Advanced cash isn’t a long-term solution to financial troubles.
- Short repayment term
Unlike a personal loan, the repayment period is much shorter thus the payments are higher. Make sure you can afford the repayments before applying for advanced cash.
Ultimately it’s up to you to decide if you want to apply for a cash advance in Christchurch. Zebra loans pride themselves on being a responsible lender and if they believe you won’t be able to afford repayments, they will not approve your loan.
Before you apply for a payday loan, make sure there is no other way to cover your unexpected expenses in order to avoid getting into unnecessary debt.