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 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 traditional 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 borrowers fill 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 overnight1 directly into their checking accounts.  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, unless other payment arrangements are made.

MyCashNow does not perform traditional credit checks2 in order for you to be approved for your fast cash payday loan.  We loan to people with a wide range of credit scores and base the amount of money you qualify for on your monthly income or monthly fixed income deposits5. 

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.

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!

 
 

Safe Online Lending

MyCashNow knows that online security is important. We value your privacy and make every effort to ensure your information remains secure.

From the moment you enter your personal information, we encrypt your data using Secure Sockets Layer [SSL] technology.

Your fast cash should be worry-free and we work hard to keep it that way.

NOTE: If you’re using a public or shared computer, we recommend that you DO NOT select the "Remember my ID" box.