Cash advances have been critisised a lot recently; however, if they are used wisely, in the way they are suposed to be used, they are an excellent source of instant cash. They are designed to be used for a really short time, ie until the next payday which is why they are called cash advances. When used in this way, they are an excellent resource to get access to emergency money supplies.

If you look at the interest rates which are typically 500%-900%, they seem very large. But, because the loans are supposed to be used for such short amounts of time, the amount to be repaid is affordable. Keep in mind though though, that customers must have the cash to pay off the loan amount in full on the date the loan is due, otherwise they could easily become caught in the ?credit trap? and wind up owing a lot of money.

There is no restriction on what a cash advance can be used for. It can be used to pay for a holiday, pay emergency bills, or to buy furniture or maybe a shopping trip.

Payday advances are easy to access. An application can be made online and a decision on a loan is usually received in less than a day. Sometimes the loan can be in your bank account in less than 24 hours.

A main attraction of cash advances is that people with a bad credit rating will be approved for loans. But, no more than a single loan at a time is allowed, as it might be hard for more than one loan to be paid off in full on the required day.The author manages a number of financial websites. For more information and advice on instant payday loans or online payday loans, visit the above links or for information on making money online go to Real Money Online.