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Payday Loan Alternatives
A payday loan is rarely the only option — and often not the cheapest. Before you borrow, it is worth knowing the alternatives. This is Step 1 of 3.
Personal Installment Loans
A personal installment loan from a bank or online lender usually offers a lower interest rate and a longer repayment period than a payday loan. Repaying in fixed monthly amounts is far easier to manage than a single large lump sum.
Credit Card Cash Advance
If you already have a credit card, a cash advance can be cheaper than a payday loan despite its fees. It is not free, but the effective cost is often lower, and it buys you more time to repay.