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How is it different from using a credit card and paying the balance once the paycheck arrives? There is no fee if the balance is paid on time.
by jrbancel 11y ago
How is it different from using a credit card and paying the balance once the paycheck arrives?
There is no fee if the balance is paid on time.
- llamataboot 11y agoLess friction, less temptation to "let it ride for another month and pay it back then" while debt keeps growing, nothing to do or think about, etc.
- zasz 11y agoIf, for whatever reason, you have poor credit, you may not have access to a credit card.
- dragonwriter 11y ago> How is it different from using a credit card and paying the balance once the paycheck arrives? You have to pass a credit check to get a credit card.
- s73v3r 11y agoA person who needs this service likely isn't getting a decent interest rate (still important to consider even if you plan on paying the balance in full), or a high enough credit limit.