Payday advance loans are becoming increasingly
popular for a number of reasons. One of these reasons is that the internet has
helped to reduce the costs of borrowing money quite considerably. Where before
finance companies would have to incur significantly more overheads from their
brick and mortar operations, now these have been slashed with the introduction
of their web-based businesses.

Despite this, payday loans and cash advances are not
suitable for everyone. An example would be if you were looking to buy a car for
example. In that instance financing the purchase through a bank loan would be a
far more suitable arrangement. Payday cash advances are also not suitable for
those that do not expect to have the money in place to finance a purchase within
a short period of time. An example would be if a person was not expecting to
have the liquidity to finance a purchase within the next few months: in that
instance a bank loan would be a more advisable financing option.

Payday cash advances are becoming increasingly
popular for a number of reasons, not just the relatively low cost of borrowing
that is now in place. One of these reasons is the speed at which money can get
in the hands of the borrower. Should a person have the essential paper work and
information to prove their validity for a loan; then a person can expect to have
the money in place within a time frame of significantly less than a week. This
is much faster than other financing options and can help the borrower to get
ready cash at the time that they need it the most. In most cases all a person
will need is evidence of employment in the form of a wage slip, and then they
will be in a position to get their money straight away.

The friendly approach adopted by employees of cash advance companies is also an
important reason why people are opting to approach payday loan services when
they are in need of money. From a survey conducted in early 2005, people felt
that they were being unfairly judged when they approached their bank for money;
however felt that employees of cash advance companies were less judgmental and
far more appreciative of their situation. This, along with other reasons can be
a real advantage of choosing a payday loan provider.

Payday cash advances are also becoming increasingly
popular as a result of credit card companies charging very unreasonable fees for
cash advances, feeling that they had the opportunity to do so being the only
major resource in the marketplace. Today credit card companies charge around 3%
with a minimum fee of $15. Many borrowers feel that this rate is unfair and is
merely a means of taking advantage of people who are in a desperate situation.
For this reason many are now finding that they are able to get a far more
competitive rate from a cash advance provider.