Are There Free Payday Loans?
While it is common to see promotions for "Free Payday Loans", it really should be understood that any type of free cash loans isn't exactly free and is still considered a loan.
Free, As In Marketing
Through clever marketing, some lenders and/or online brokers will advertise free payday loan services in an attempt to win a customer who is searching for the best payday advance for their needs.
There will almost always be a caveat, some fine print, or an asterisk with a vague footnote somewhere on the site, that will explain how and why a loan can be stated as being free when it is absolutely not.
Free, As In Application
Some lenders and/or marketers are clever enough to use the word free in their marketing practices simply because you, the consumer, are able to apply for a loan on their site "FOR FREE!". How kind of them! You are seeking their services and they let you ask for them for free? Really, the deception is a joke. Anytime you apply for any type of financial services, especially when asking to borrow money, you should be able to fill out a qualification form for no charge. If you run across a lender who requires an application fee, that is probably a good sign that the lender is not a good match for you.
FREE As in Interest Free?
Some lenders will give consumers a break for either their first loan, or for a loyal customer who's already received many loans through the lender. This is rare, but it has happened for special promotions. It should also be understood that this is a one time deal, and interest will generally be charge on any extensions and/or roll-over periods.
FREE As In Fax Free?
Another common practice is to see claims of "no faxing" or "fax free" application processes. Most lenders have a pre-qualifying process that do not require a fax of documents for selected demographics or geographical areas, but even this can be deceiving because most lenders will still require a fax of identification or earning documents during a secondary step of the application process before any money is loaned.
FREE As In Pain Free or Hassle Free?
Probably the most common use of the word free in the payday loan world is when it is associated with hassles, mess, and/or inconveniences. At WeGiveCash.com, this is the type of free that we offer. Our hassle free same day payday loan process will help reduce the stress in finding a short term loan for you since we actually take your application and match it against a pool of lenders to select a cash loan provider that can best service your loan needs in the state you live in. You only have to fill out one form. We'll take care of it from there!
