Cash Advance vs Payday Loan Secret to Extra Cash

When deciding between a cash advance and a payday loan, several factors should be considered:

- **Interest Rates and Fees**: Cash advances generally have lower interest rates than payday loans, but both options can be expensive if not repaid promptly.

- **Repayment Terms**: Cash advances are tied to your credit card billing cycle, while payday loans are typically due on your next payday, which could be as soon as two weeks.

- **Access and Eligibility**: Payday loans are accessible to those with poor credit, whereas cash advances require an existing credit card account.