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Military Cash Advance

By Edited Nov 13, 2013 0 0

If you are in the military or have done military service in the past then you may have become inundated with offers for military cash advances and other similar kinds of loans from various lenders when you began to look for your personal loan. The truth about these sorts of military cash advances is that they are essentially payday loans in disguise, and the lenders that provide such loans will hardly ever take into account your military service when determining the interest rate and fees on your loan as a lender who provides real military personal loans would be able to do.

The lenders who provide authentic military personal loans will take into account your military service when determining to approve you or not, as well as when they are deciding on what the terms of your loan should be. For a military cash advance loan the lender is simply inserting the word "military" and other related terminology so that they can coerce you into thinking that you are applying for a military loan. The truth is that these types of lenders who provide such military payday loans are not doing anything out of the ordinary to help assist you with your approval or interest rate and fees, and the majority of the time a lender will say that they can provide you with a military loan just so that they can get you in the door.

There is a difference between authentic military personal loans and military cash advances, or military payday loans, and while the military payday loans can still provide you with the money you need, they will be made in accordance with what that lender charges their other borrowers in terms of interest and fees. If you want such a cash advance loan then it really doesn't matter if you've done time in the military or not as these kinds of lenders do not often consider such service even if they say they do. If you are truly looking for a military personal loan then you need to apply to a lender that doesn't offer cash advances, or payday loans and rather offers a variety of loan products that often include authentic military personal loans.

These lenders will take into consideration your military service when determining to approve you or not as well as the costs of your loan and they can be much more understanding than the vast majority of payday loan lenders that are on the market. These lenders can give you a much better interest rate than what you'd receive at a so-called military cash advance lender, and this is why you should always look specifically for these types of lenders first unless you explicitly want a payday loan. There are a number of these sorts of lenders on the market, and you often only need to do a few searches online to find some lenders that may be able to provide you with what you want. Military cash advances may seem like a good option when you need some quick money, but in reality they are virtually identical to most payday loans that are out there and they will therefore not be able to offer you any sort of incentive that can take into account your military service. By knowing what to look for you should be able to filter out the lenders that cannot offer you what you want, and by doing so you should be able to put yourself into position to get the best loan you can possibly qualify for, so get out there are start comparing lenders.

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