Credit cards or Payday loans?

Too fast, too furious. That’s the lifestyle of today. Everything has to be fast or it is not liked. Instant food, instant message, instant love, instant everything. Incidentally, money tops the ‘instant chart’. Getting things done on time is not just a requirement but a demand. And nothing gets done without money which makes instant cash, a heavy demand.

Credit cards are the default ‘celebrities of instant cash’ and using credit cards have become so common these days and so is getting into debt. It is hard to resist credit cards especially because of the ‘not from my pocket’ feeling that you associate with them . But the fact is, every time we use credit cards, we are actually adding interest to the money we spend using the card and in turn making our creditors happy. Everyone loves extra money, isn’t it?

Payday Loans : Alternative to Credit cards?
A good alternative to risky credit cards is payday loans, which are much better than the former in many ways. Of course, the high interest rates compared to credit cards will make us put on our thinking hats, but actually speaking the comparatively high interest rate is probably the only downside of payday loans or instant loans, but since they are short term in nature, the payday loan companies are required to charge high interest due to legal procedures. Otherwise, payday loans are advantageous in many ways. They are transparent and strict. This helps people who use payday loans to know how much they owe and why, which is not the case with credit cards.

Hidden charges?
Often credit cards use terms which we don’t even understand. But with payday loans, we don’t have that hassle, as every little charge is pre-defined and there are no hidden charges that surprise in the last minute. Though high interest rates will make payday loans look like evil, it is a smart choice to go for it, as it wouldn’t shock us with a huge debt later. It is better to go for a known evil than a hidden devil, isn’t it?


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