In the payday loan industry so many terms get thrown around it can become confusing. If you're looking to borrow money you could easily waste a lot of time trying to figure out the difference between a payday advance and a cash advance. Well, to tell the truth there isn't a difference. They all refer to the same thing.
The only time a cash advance is not equal to a payday loan is when the cash is borrowed from a credit union or credit card. Often the rates are lower when money is borrowed in such a way, but typically one is not able to receive as much money as they can with a payday advance. Caps of $300 are not uncommon through credit card cash advances.
Of course payday advances and loans present a little more risk and higher fees than a loan obtained through a credit union or card company, but payday advances are an easy solution for those who's credit history makes them illegible to receive cash loans through their credit card company. Bad credit is usually not a problem for borrowers seeking a payday loan as most payday lenders don't do credit checks.
We hope this clears up some of the confusion! Remember to borrow money responsibly and not fall into the trap of having multiple cash advances active at once as this can affect your ability eligibility for additional loans.
