Can I Get A Same Day Payday Loan?


I want to be the first to tell you that I am not endorsing payday loans in any way. I am just describing a life that many people have to deal with, especially when they are strapped for cash.

Some people resort to things they might not consider otherwise when they are strapped for cash. There is desperation there you never felt before.

Keeping that in mind, I will explore some variables you should consider if you are someone who needs cash in a hurry.

The Financial Emergency

The same-day payday loan can help you cover financial issues in a pinch until your next check comes. Applying for, and receiving easy quick payday cash advance loans may be the answer. There are a few things you need to watch for though. There is a convenience issue here. Lenders like to prey on the convenience that borrowers have.

In lamen’s terms, the same-day loan is nothing more than a convenient way out of the problem. It is nothing more than a short-term fix to something that could become a long-term issue.

That might not be what you want to hear, but it is the truth. The interest rates you get will be higher than normal(sometimes triple what you might normally pay). Once more, the same-day payday loan is considered a convenience and you are paying for that convenience.

Some loans will give you an APR of 400%. The other thing you need to know is your same-day payday loan is on a short-term basis. Other payday loans might offer a few months to pay everything back. However, the lender expects you to pay the same-day loan back the next day.

You might have only borrowed $500, but they will expect that payment right away with interest. Hey, convenience has an expensive price tag.

The other thing you need to be careful about is the approval process. You might be approved for something today, but that does not mean you will get it today.

Does that mean the payback date has changed now? It goes according to your state’s rules. You might not get the money for a few days. However, the time and date you pay everything back has not changed.

Should You Get One?

That depends on you, your situation, and your ability to pay it back right away. The longer you delay repayment, the higher the interest rates go.

I have a few things to think about below.

1) You do get the fast cash. You might need a car repair that your bank account cannot cover. A same-day loan could be the fix you need to get your car running. There are potential downsides you need to know about, especially in the case when your car repair bill is going to be high.

That same-day loan is helpful, but what is not helpful is the high rates you have to pay back along with the original amount. This is how payday lenders make their money.

2) The one benefit is there is no collateral to secure one. They do not call them unsecured loans for anything.

3) Bad credit might not be a dealbreaker, but it is not something that will help your cause either. Lenders can take advantage of something with bad credit more. Someone with good credit is not going to be useful to them.


Taking out a same-day payday loan is not a bad thing, but it is not a good thing either. Read the fine print before you agree to anything.