Payday advance loan companies can sometimes offer you incentives to make you feel all warm and snuggly inside, but usually all these gimmicks do is cover up the fact you will be paying high interest rates for very short term loans usually two week loans.

A few of the incentives that payday advance loan companies will use to pull you in is the 50% off your finance fee for a first time customer. While this may sound like a good idea but sometimes these companies will charge other fee’s to make up the loss of the 50%. Make sure if you do decide on a company based on this you read all the fine print and see if the normal fee’s that charge with out the 50% are the same as with. Also understand this 50% off incentive/gimmick is usually only good for the first 14 days of the payday advance. So if you have applied for a 21 day payday advance your 50% off is only good for the first 14 days.

One of the biggest gimmicks to pull borrowers in is the “No Credit Check” people that have credit that is lacking or suffering see this and instantly thinks it’s a good way to obtain a loan. What some people do not realize quickly is that these loans are very short term loans and require high paybacks for interest rates and fees. These loans can end up hurting people more then helping people. If you live paycheck to paycheck with out money to spare then a payday advance loan is not a very good option for you.

Payday advance loans also offer quick turn around often having the money available to you in with a 24 hour turn around. This can be a good thing for people who are in desperate need of money for possibly a car repair or a child medicine. With the no credit check and the rush on money it appeals to people who sometimes can not afford these types of loans.

Sometimes the incentives or gimmicks can stretch as far as to offering you something for free when you sign up for your first payday advance loan from their company. When someone offers you something for free for signing up for something eventually it’s going to cost you or somewhere there is a fee that paid for the item you just for free. Usually it “free” items is paid for by the high interest rates and fees that are associated with payday advance loans.

Another incentive the payday advance companies are offering is the ease of applying online. No more standing in lines or meeting with a loan officer face to face. When all you have to do is a couple of clicks and submits. It’s getting easier and easier for people to fall into the hands of payday advance companies with how easy they are making it for people. They offer no faxing to simplify the application procedure to people who do not have access to a fax machine and would have to travel outside of the home to find one.

If a loan sounds to good to be true then obviously you need to really research and make sure the loan is not going to cost you more then its worth.