Posts Tagged ‘myths about payday loans’:


Questions to Ask Yourself Before You Get A Payday Loan

Published by Don M. on July 8th, 2011

Payday Loans can be great tools to help get cash in a quick bind if used responsibly.  But figuring out if a Payday Loan is right for you, can seem like a difficult and daunting process. Luckily, we here at Check City have tried to take some of the guess work out of it, and have come up with a list of six great questions to ask yourself before you take out a Payday Loan. Don’t worry, you don’t have to answer yes to all of them, but hopefully these questions can help you figure out if a Payday Loan

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Are Credit Unions A Better Option?

Published by Don M. on June 13th, 2011

All across the US, local credit unions are a trusted banking and loan option for customers. But since credit unions cannot operate with a motive for profit like traditional banks, some credit unions have made it a habit to keep cash flow steady by increasing payday loan fees for their customers. Last September marked a big change for credit unions who offer payday loans. The National Credit Union Administration raised the annual interest rate cap from 18% to 28% allowing credit unions to charge more for payday loans they offer. But some credit unions aren’t apparently satisfied with this increase.

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