Transitioning To Budgeting

« Back to Home

Why Use A Payday Loan Instead Of Credit Cards For Your Holiday Shopping?

Posted on

As you are preparing to buy gifts for your loved ones this holiday season, you might be thinking about how you will pay for all of these presents. If you don't have enough cash set aside for the holidays, you might be thinking about using your credit cards to cover the expenses. However, there is a better choice -- taking out a payday advance loan. These are a few reasons why this might be a smarter choice for you this holiday season. 

Pay it Back More Quickly

Payday advance loans are designed to be just that -- they are designed to provide you with a small loan until you get paid. You can often extend them, but they will still typically need to be paid back in a relatively short time frame. If you are afraid that you might not pay back your credit card balance quickly, you could be stuck paying for the holidays for months or years to come. With a payday advance, however, you will be encouraged to pay the loan back quickly. This can help you avoid having to make monthly payments on your holiday purchases for a long time into the future and can save you money on interest charges, since you should be charged just one basic fee for the service.

Use Cash Wherever You Want

With credit cards, you are limited to spending at stores that accept the credit cards that you have. With a payday loan, however, you will have access to cash. Then, you can make holiday purchases anywhere that you want rather than being stuck at particular stores that might not have what you are looking for.

Avoid Carrying an Overly High Balance

When your credit card companies report to the credit bureaus, they report how much your credit limit is and how much of a debt you have racked up. If you have used more than a certain percentage of your available credit, it can have an impact on your credit score. With a payday loan, you don't have to worry about carrying an overly high balance on your credit cards and affecting your credit because of it.

As you can see, if you need a bit of a boost for holiday shopping this season, it might be a good idea to take out a payday advance (from an outlet such as rather than whipping out your credit cards. Then, you'll be able to enjoy these three benefits and more while you're shopping for your loved ones this year.