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What are the different terms used to describe a payday loan?

There are many different terms used to describe payday loans.  Most of the terms are used interchangeably, thus leading to some confusion among consumers.  At MyCashNow, we wanted to take the time to educate you, our valued customer, on some of the terms used throughout our website to describe payday loans.

The terms personal loan, online loan, cash advance, advance loan, and payday loan are used interchangeably to mean a way to get fast cash between paydays without having to go through a long and invasive credit check. These loans can give you the money you need to cover financial emergencies, unexpected bills and other expenses, until you receive your next paycheck.  The term for personal loans, cash advances, advance loans, and payday loans is usually two weeks, or until your next pay day.

Usually the borrower fills out the personal loan application over the phone at 1-866-392-2274 or online, and once the payday loan is approved, the money is deposited overnight directly to their checking account.  MyCashNow will automatically withdraw the money to pay back the unsecured personal loan on the payback date they requested when they filled out the cash advance application.

MyCashNow.com does not require an inconvenient credit check, to be approved for your fast cash payday loan.  We loan to people from a wide range of credit scores, and base the amount of money you will qualify for off of your monthly income or monthly fixed income deposits. 

MyCashNow gives you the ability to securely manage your payday loan account online, in the privacy of your own home.  You can apply for a cash advance extension, change your password, view your fast cash personal loan history, and do other account management tasks, all from your home or office computer.  MyCashNow uses a variety of internal and external security measures to make sure your personal information is kept safe and secure at all times.

Please visit the links below to learn more about the terms below:

As always, please do not hesitate to call one of our friendly customer service representatives at 1-866-398-2274 if you have any questions about payday loans or MyCashNow.  We have operators standing by 24 hours a day, six days a week to take your calls!