Where to Get the Best Personal Loan Rates Online.

If you want a personal loan to pay off credit card or other debt, the absolute fastest and most effective way to lower the interest you pay is to apply for a balance transfer, with a 0% rate. You can read our guide to balance transfers to learn about their pros and cons.

But a balance transfer isn’t for everyone, especially if your credit score isn’t perfect or if you need to borrow cash.

A personal loan with a set payoff period a few years from now is often the next best thing with these advantages:

  • One monthly payment
  • A set rate
  • You don’t need absolutely perfect credit
  • You can check your rate without touching your score

There are more attractive deals than ever thanks to some new online lenders and you can see sample rates below for excellent credit and good credit.

Tip: Apply for several loans to check rates. You can apply to each personal loan company separately, or use the tool created by MagnifyMoney to do it all at once.

Some personal loan providers let you check the rate you’ll get without impacting your score, unlike credit cards.

They’ll do a ‘soft pull’ with your Social Security Number so your best plan is to give your information to several of them and see who gives you the best rate. You can use our new personal loan tool to compare interest rates from multiple companies at once, or start by inputting your information below:


Once you get rates, put them in our Balance Transfer vs Personal Loan calculator to see how they compare on interest paid and time to paying off your debt.

Why is this a good way to save?

Banks don’t care much for personal loans because the lower rates earn them less profit than credit cards.

Fortunately, some new companies believe you should be able to get a competitive rate without dealing with credit card intro offers, even if your credit isn’t perfect.

They’re doing it by lending online only without the overhead of branches.

They pass the savings on to you through better rates, and you can check up on them below.

Personal loans for Excellent Credit

The following providers are for you if you want the absolute lowest possible rates that reward a record of no late payments and good income, even though you have some high rate debt you want to clean up.

Unless you get a rate of 5% or less, you’re probably better off with balance transfer deals, but the convenience of a fixed payment and walking away from credit cards makes personal loans appealing.



In the World of Invisible Payments


The invisibility of certain financial services is a cornerstone of a seamless experience, contributing to the usage growth and expanded opportunities for businesses. Invisible and uninterrupted payments experience, in particular, can have a dramatic impact on any type of service adoption and drive never seen before growth in sales across industries, especially retail and commerce.

“In a way, invisible payments can make payments a more integrated, intuitive part of the user experience. The best user experience removes as many pain points as possible no matter the location of the user or the brand they’re interacting with,” Chris Francis, Vice President of Market Development at WorldPay suggests.

Today, however, the opportunity with invisible payments service is yet to be explored as existing widely adopted security solutions and payment technologies do not allow a completely non-interactive experience authorizing a transaction. Nonetheless, given that today’s consumer doesn’t want to wait for anything, introduction of invisible, instant payments are a natural course of action for businesses and financial institutions to keep up with market demands.

In the world of invisible payments, the friction and necessity for a human intervention is removed from everyday activities involving any financial transaction. So far, Amazon has come the closest to bringing the idea into reality with its concept of Amazon Go store, eliminating the whole part of standing in lines to make a payment as the payment experience itself is removed from the most payment-centered activity – shopping. Amazon Go’s Just Walk Out Technology automatically detects when products are taken from or returned to the shelves and keeps track of them in a virtual cart. When customer is done shopping, he/she can just leave the store. Shortly after, Amazon charges person’s Amazon account and sends a receipt.

Google has also been working in the same direction with its Hands Free App that allows users to make in-store payments without ever reaching for the phone or wallet. The App is currently running a limited public pilot in a small number of Silicon Valley stores. The Hands Free app uses Bluetooth low energy, Wi-Fi, location settings, and other sensors on customers’ phone to detect whether the person is near a participating store. This enables users to pay hands-free, without fumbling with the phone or even opening the Hands Free app.

The search company, however, did not completely remove the payment moment from the shopping experience – a person still needs to go through the cashier and indicate a desire to pay with Google. After that, the cashier confirms customer’s identity, using initials and the photo that the customer added to Hands Free profile. At some stores, Google is also running very early experiments using visual identification to further simplify the checkout process. All images and data from the Hands Free in-store camera are used only to confirm person’s identity for each Hands Free purchase. Images and data from the Hands Free in-store camera are deleted immediately; however, they can’t be accessed by the store, and are not sent to or saved to Google servers.

The development of IoT technology will play an imperative role in advancing invisible payments solutions running on connectivity of personal devices, including vehicles, homes, laptops, wearables, etc. The need for carrying a particular device (not speaking of wallets) will be eliminated as any tech carried by a person will be able to carry the same function. Equipped POS terminals then can interact with any personal devices with payment functionality to perform a transaction without the need for a person to interfere at all.

The seamless, invisible payment experience comes with certain possible drawbacks for the customer. With invisible payments, traditional part of any service consumption – the payment for that service – is completely removed, thus, taking away a feeling of spending, which is a positive side for businesses, but removes the sense of reasonable spending behavior. Automatically deducted payment with no feeling and experience of making a payment at all allows customers to experience the product/service without the need to evaluate the deduction, because the payment becomes literally invisible in the whole process. PFM platforms will ‘have a blast’ offering sophisticated strategies to save money, when numbed feeling of spending money will hit pockets.

At the moment, there is not much on financial institutions expressing interest in taking payments to the next level. Technology companies are more likely to beat banks in regard to invisible payments because for banks, the technology will eliminate the part of the business revolving around credit/debit cards and proprietary payments apps, loaded with those cards. Therefore, financial institutions may take time to catch up or miss out on the opportunity at all in their attempt to keep banking apps relevant. With invisible payments, financial institutions will have to forsake cards and invest significantly in development of features allowing a hands-free payment. At the end, while technology companies can focus on providing the best possible payments experience, banks are the ones moving money and risking own capital in case the security is compromised in favor of that experience.

Invisible payments can change the experience beyond shopping. Professionals from ToneTag bring examples of toll plazas and metro turnstiles – invisible payments would allow people to drive or walk across without stopping to pay every morning.

In the restaurant business, certain startups are already appropriating the dine-and-dash culture. As reported by Upnext, using beacons with Bluetooth Low Energy (BLE) technology, companies like Dash, Reserve, and Tab allow diners to pay quickly and easily by just saying their name to the waiter or barman. All these apps turn dining out into an experience that’s only about the food, the people and the atmosphere – and not about the bill anymore. The app automatically bills the cost to the user’s card, which is stored securely in the cloud so there’s no need to call over a waiter or think about whether you have enough cash. Payment has become an automatic process that takes place in the background, the edition notes.

The Payments Industry Must Migrate to a Single Platform.

If 2016 should be remembered for something, it’s the launch of the first Visa/Mastercard/SWIFT-free payments system – the Unified Payments Interface (UPI) by the National Payments Corporation of India (NPCI). UPI is an open-source platform designed for the mobile age that helps with easy integration of various payment platforms. UPI is powered by a single payment API and a set of supporting APIs. It has a fantastic value proposition including a simple authentication process, simple issuance and acquiring infrastructure, national interoperability and more.

But UPI is much more than a breakthrough in payments – it’s a whole new model of the financial services industry ecosystem. UPI became a starting point of what SWIFT called a journey to a single payments platform, outlining lessons we have learned in 2016. The idea behind UPI is in looking at the payments industry from a rational perspective rather than opportunistic. Simply put, for example, even though the mobile payments volume is expected to top $500 billion by 2020, that does not indicate a green light for an infinite number of mobile payments services.

UPI is a benchmark to what the payments landscape should be moving towards given that oversaturated payments ecosystem, where too many ‘pay’s’ won’t let anyone win. Disjoint experiences across businesses create customer confusion, and, at the end, with a limited customer base, limit opportunities for every payment service provider – existing and new.

Not only is the customer-facing part of the industry oversaturated, but also a variety of processing systems do not make it any easier for businesses to choose and integrate a solution that would fit their financial requirements and target audience preferences.

Therefore, professionals from SWIFT emphasize that at some point, the payments industry must migrate from a plethora of aging and expensive systems and schemes to a single platform to process all payments. However, a single payment experience for customers (based on seamless system interoperability, comparable to mobile telephony) is a more probable future than a single payments platform, experts admit.

 From the regulatory stand, adoption of appropriate industry standards (such as ISO 20022) are essential, because they enable interoperability of existing disparate systems. As a result, existing market participants gain a chance to extend their horizons and strengthen a footprint in the market without the need to waste efforts on pushing out other players. Competition, then boils down to the ability to deliver the best customer experience and value rather than race to tie up with as many merchants as possible.

Not only can migration to a single payments platform prove to be advantageous for non-bank representatives, but also, experts believe it to be an important move for bank incumbents as well. Lisa Lansdowne-Higgins, VP, Card Operations and Supplier Management at RBC, notes that ‘‘Incumbents may find they are better able to compete by migrating to fewer platforms.’’

Lansdowne-Higgins explains that for incumbents lumbered with legacy payments systems, access to ACHs and real-time gross settlement systems (RTGSs) was once a major competitive advantage. However, it might now be viewed as a handicap.

Incumbents find themselves juggling a multiplicity of legacy payments types and services. Rather than continue to do so, incumbents may find they are better able to compete by migrating to fewer platforms. By eliminating the inefficiencies that stem from operating multiple payment systems, incumbents will be able to streamline their operational processes, which will, in turn, enable them to lower their costs.

“But this transition cannot be accomplished by simply closing existing payment systems down. Instead, incumbent banks need to buy time to compete effectively with new entrants. One way to do this is to steer payment volumes to newer platforms by highlighting their service benefits. By this means, less economic methods of payment will run their natural course. Simply put, incumbents need to continue to invest in newer payment methods, while allowing older services to be wound down. It is a solution which provides customers with a choice over how and when to transition their business to a new platform while allowing incumbents to maintain support for long-established relationships.” sheadded.


P2P Payments: Migration From Apps to Media Channels


The market of P2P payments is highly saturated, with every other freshly launched solution becoming another fish in a barrel. While some financial institutions are playing catch-up (launching competing payments apps) with the likes of Venmo and PayPal, others are moving to the next level by hopping from dedicated apps to P2P payments as features in multipurpose social media channels. The relevance of proprietary P2P payments apps fades away in face of all-in-one platforms that allow the same functionality in addition to the comfort of chatting, calling a cab and doing whatever else mighty ones like WhatsApp allow doing.

Social media channels went a long way since their inception – turning from news feeds and chats into all-in-one platforms, tightly gripping onto users’ everyday activities. Multipurpose channels eliminate the need for five different apps when they are able to perform all five functions in one place. P2P payments apps are gradually becoming one of those redundant space-wasters as technology and code-first companies stuff their solutions with various features including the ability to send funds to a friend.

Essentially, the like of Messenger, WhatsApp, Twitter, WeChat and others are eliminating the need for using any other app, creating a streamlined wholesome experience within one platform. And financial institutions should see it an opportunity to become a part of the deal given an increasing importance of those channels in users’ everyday life.

Today, there are already quite a few financial institutions worldwide that are exploring this opportunity – ICICI Bank,Barclays, RBC and more. Just a week ago, Santander and Mastercard were among companies that backed PayKey, an Israeli-based startup that allows P2P payments as easily as writing a chat or sending a photo to a friend using WhatsApp, Facebook Messenger or Twitter. PayKey has developed a mobile keyboard application that connects to the bank to make instant and secure payments.

Leveraging media channels for P2P payments is all about finding a place in customer’s everyday life. An average consumer is not on a constant lookout for another app for collection but is affectionate to a seamless experience with services through channels of preference. Instead of trying to squeeze another app into consumers’ smartphones, companies should be really looking for ways to use established customer-preferred channels.

Earlier this year, Mark Zuckerberg shared that, “Today, people around the world spend on average more than 50 minutes a day using Facebook, Instagram and Messenger… And that doesn’t count WhatsApp.” Messenger and WhatsApp are handling 60 billion messages a day – three times the amount of global SMS traffic. With 2.3 billion active social media users worldwide and 1 million new being added every day, it’s difficult to imagine other equally effective way of massively scaling a service rather than basing it on a proven record of social media channels.

The opportunity with leveraging social media platforms for P2P payments can be even more rewarding when applied to international remittances. Some estimates suggest that over 90% of fund transfers are sent to family members, who are usually connected on social networking websites. This connection between senders and recipients makes social media channels the primary target for massive international reach given that last year, international migrants sent home ~$600 billion.

With the scale of the user base and the speed of expansion, it would be an understatement to say that social media will play a major role in the future of payments. In addition, social media channels are a ready-to-tap source of ever-enriching data on user behavior and preferences, which is one of the most valuable assets for companies providing financial services.

With regard to data on user behavior and quality of connections, social media has been recognized by Wharton as an important data source for credit scoring back in 2014. In recognizing the role of social media for the purpose, at the end of last year, FICO was reported to be looking for ways to use social media data to assess creditworthiness.

Source : https://letstalkpayments.com/p2p-payments-migration-from-apps-to-media-channels/

How to Prevent Mobile Payments Fraud

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Some estimates suggest that fraud attacks on US online merchants rose 11% after the October 1, 2015, EMV liability shift. In absolute numbers, the value of fraudulent online transactions is expected to balloon from $10.7 billion last year to $25.6 billion in 2020.

It appears that the EMV transition had the effect it was expected to have and fraudsters have indeed turned their efforts towards weak links – such as CNP transactions – putting e-commerce under fire. There are, however, measures, that can mitigate the risks of CNP payments fraud, which The Reserve Bank of Boston laid out this Thursday in the report titled Getting Ahead of the Curve: Assessing Card-Not-Present Fraud in the Mobile Payments Environment.”

The study suggests that enabling EMV chip card acceptance at POS reduces card-present counterfeit fraud by removing the opportunity for fraudsters to compromise payment card credentials. However, this is driving fraudsters to attack the more vulnerable online and mobile CNP channels with weaker authentication protocols, at a time when consumers are increasing their use of mobile phones to make CNP purchases.

We will further review six recommendations from the bank that address various aspects of CNP fraud prevention. The hallmark of the list is that half of the recommendations are insisting on the necessity for collaboration between various participants of the ecosystem in various ways: sharing data, best practices and collaborative development of security standards.

Channel-specific security measures

M-commerce is mostly considered to be an extension of the business, which leads to security measures being standardized across channels without considering the hallmarks of those channels. Meanwhile, risks associated with mobile m-commerce differ from e-commerce due to specifics of the environment and a different set of factors influencing the m-commerce experience.

It leads to the necessity to consider additional security approaches to prevent and manage mobile CNP fraud. For mobile-focused businesses, it is critical to implement appropriate methods to monitor fraud in their e-commerce and m-commerce channels and apply mobile-specific fraud management tools that leverage the unique capabilities of mobile devices.

Channel-specific monitoring generates rich data that can provide more detailed information on the customer device-specific behavior, addressing the need to manage fraud holistically across customer entry points. Businesses should also use the data collected from fraud tools to build a profile of a legitimate versus a fraudulent customer in the mobile CNP channel.

Multilayered & multifactor security measures

There is no silver bullet when it comes to security controls and methods, and the most effective systems rely on a mix of those to ensure security. Companies should analyze available tools and choose the ones that best fit their CNP fraud strategy. Such sources as NIST, FFIEC and 3DS 2.0 specifications and related network operating rules are proposed to be helpful in conducting an analysis.

Elimination of magstripes

Despite the migration of the US payments card from magstripes to chip cards, magstripes are still widely used. Customer habits are difficult to change and the presence of a magstripe and a chip on a card may lead customers to still habitually use the stripe. Professionals from the Federal Reserve Bank of Boston suggest the elimination of magstripe as a measure to address major card vulnerability because when swiped instead of dipped, the card is susceptible to counterfeit card fraud.

“In the current CNP environment, many smaller e-commerce merchants may have weak authentication controls that provide fraudsters with the opportunity to make fraudulent purchases with stolen counterfeit card numbers. There is also the risk that a counterfeit card number will be provisioned to a mobile wallet and used to make fraudulent purchases.

“Overall, reducing potential vulnerabilities in other payment channels benefits the mobile channel as well, as they are all connected and used by consumers.”

Information sharing and customer education

Collaborative efforts are known to have a positive effect on business growth and development. It also applies to the payments industry, where market participants recognize the need for more inclusive collaboration and information sharing to reduce overall payments fraud, and CNP specifically.

Today, company-specific data is shared mostly only with governmental agencies and industry associations. As a result, valuable data remains contained in the circle of particular market participants, while cross-industry sharing could drive higher efficiency in fighting fraud.

In the retail payments environment, FIs often see fraud or suspicious activity faster than merchants because of the robust risk management tools and fraud monitoring systems they have to support compliance with financial services regulations. Financial institutions are also the primary point of contact by cardholders when fraudulent activity occurs.

For businesses to be able to boost their security capabilities, cross-industry data sharing is a necessary element of collaboration. The need for more effective information sharing expands beyond the CNP environment to the entire payments ecosystem. The broader industry needs to identify ways to improve the value and timeliness of fraud data that will also help the CNP environment. All stakeholders also have an obligation to support continuous customer education regarding secure mobile payment practices and should engage collaboratively in developing consistent materials and messaging.

Sharing of the best practices from channel-specific use case analysis

Collaborative efforts should go beyond sharing information to sharing best practices identified in use case analysis. Risks associated and experienced by one party of the payments ecosystem will translate into risks for all other parties, which means that best practices of fraud prevention should be shared with mid-sized and smaller/micro m-commerce merchants and CNP third-party/non-bank mobile solution providers.

It might be difficult to assess risks created across market participants due to the lack of consistency to how they evolve or operate. Hence, all third-party relationships should be carefully evaluated before an agreement is executed as well as on a recurring basis. Large e-commerce merchants and processors should recognize that sharing some of their best practices and experiences using different fraud tools for CNP payments with the smaller, less sophisticated, or newer mobile/e-commerce businesses will have a positive impact on the entire CNP environment.

Knowledge sharing across ecosystem can help reduce overall fraud and increase consumer confidence in making mobile and online purchases.

“The major stakeholders should coordinate efforts to develop best practices targeted at the smaller m-commerce merchants, determine effective ways to reach out to them and communicate this information.”

Collaborative standards assessment and development

“Issuers, merchants (POS and e-commerce), acquirers, card networks, processors, PSPs and WSPs should collaborate and coordinate initiatives to identify where gaps exist in current proprietary and open standards and practices.”

All members of the ecosystem should share their unique expertise to facilitate the enhancement of technology standards, as well as guidelines and best practices, to improve the security of mobile and e-commerce CNP payments, particularly in such areas as authentication, tokenization and encryption for data protection.

What Are We Seeing in the SME Financing/Loans Opportunity?


Post the financial crisis in 2008, SMEs’ credit conditions had worsened, and credit has remained tight for the past several years. We saw a reduced number of banks focused on the small-business segment, increased regulatory scrutiny that caused banks to tighten lending standards and the need for more internal approvals. In short, SME loans became less attractive. In the recent past, we have seen that the trend is reversing. Banks and FinTech companies are getting interested in SME financing. For some banks, it has again become good business and they want to grow it. FinTech companies are targeting the gaps. According to a study, small businesses in the United States carry nearly $700 billion of small-dollar loans, borrowing over $200 billion each year. There are various ways of funding small-and-medium-sized businesses.

There are various method/models used today in this field to get the data to assess risk. Here are some of the ways in which SMEs get funded:

1. Providing financing on the basis of sales data:

Companies like Square identify small businesses based on their processing history and provide cash advances, which the business owner agrees to repay with a cut of future sales. The processing data helps Square to determine which companies will benefit from the cash advance, and which ones are most likely to be able to quickly repay—mitigating risk.

The main advantage of this type of financing is that SMEs get loans just on the basis of their previous sales made. But an SME needs to provide adequate data which can enable further financing for the business.

2. Invoice discounting/crediting:

There are some innovative invoice solutions offered by the B2B payment companies such as pre-financing of invoices, invoice discounting and SME financing. These B2B payment companies offer early payment discounts to the entire supply chain of the SME, using their cash or third-party cash. Some examples of such companies are Tualia, Kickpay and Invoice Interchange. Fundbox’s cash flow optimization tool provides small businesses with credit-on-demand for their outstanding invoices, alleviating their cash flow gaps.

With invoice discounting, SMEs can improve their cash flow situation and will only have to pay the interest on the loan borrowed. But one of the cons of using invoice discounting is that when an SME gets involved with invoice discounting, the invoice becomes an asset of the finance company and hence cannot be used as collateral for further financing.

What Are We Seeing in the SME Financing/Loans Opportunity?

Some other prominent players working in this segment are C2FO, BTCjam, Bluevine and Magellan.

3. Government-guaranteed SBA loans:

SBA loan programs are for helping startups and existing small businesses, with financing guaranteed for a variety of general business purposes. The guarantee represents the portion of the loan that SBA will repay to the lender if the company defaults on loan payments. Banks like Synovus Financial Corp. provide various SME financing products such as SBA loans (SBA 7(a), SBA 504, SBA Veterans Advantage Loans, SBA Export Working Capital Program), checking accounts, loans, treasury management, business credit cards, merchant services, employee benefits, investing & insurance. The bank has an increased focus on SBA lending (generated 65% increase in loan production during 2015, driven by talent acquisition as well as new product offerings and expected similar growth in 2016).

Some other banks providing SBA loans to SMEs are Wells Fargo, which serves around 3 million small-business owners across the United States; SunTrust Bank and Zions Bank, which is a consistent leader in the US’s SBA lending market and is known for its local decision-making.

The past two years have seen a growing number of partnerships with lending startups through which banks have focused on improving credit underwriting and working on building rewards/offers for SMEs. Banks like Celtic Bank has got into a partnership with alternative lenders such as Kabbage and Square Capital for providing bank loans to small businesses.

However, SME financing is not as profitable for banks as standardized loans which have mortgages as repayment in case of default. It also becomes difficult to underwrite these small companies and manage the books when the profitability on the lending side is low for banks. Hence, the approval rate for SME financing is very low in banks (around ~40%).

4. Loans on the basis of balance sheet:

OnDeck Capital Inc., Kabbage Inc., Lending Club Inc. and other lending startups have launched products that not only help SME borrowers but also help in lowering operating costs through the use of technology. This model fits borrowers who want quick access to cash at good interest rates.

All of these startups have developed technology that pulls digital exhaust like customer reviews from Facebook & Twitter along with bank statements, credit scores and other traditional financial records into an algorithm that quickly and more accurately examines applicants and other data points for assessing the risk of a loan to an institution.

But such alternative lending platforms charge a very high interest on the loans provided to SMEs.

Some of the other major players in this segment are Accion, Rapid Advance and Funding Circle.

5. Plain old credit cards are also competition in many ways:

More than half of the small businesses in the US use a credit card for financing. The credit card has become a critical tool in expanding small business access to credits. Even at big banks, the credit card has become the default loan source for small businesses. Entrepreneurs are increasingly relying on credit cards to finance their businesses, especially early-stage companies as it provides instant financing easily.

For example, American Express offers merchant financing to small businesses that accept American Express cards.

All the above-given methods as mentioned above have their own pros and cons. The type of financing method availed by an SME depends on the necessity, type of firm and type of financing needed for the business. For an early-stage financing, alternative lenders such as OnDeck and Kabbage provide a good option as they provide instant financing.Invoice discounting is a better option for SMEs whose customers are other businesses and which have few invoices disputes and have customers who pay reasonably promptly (within 90 days). For businesses that want to expand and are seeking for loans, the first option is good as companies such as Square provide instant financing depending on the past sales.



though payday loans are a type of credit that most borrowers should avoid, there are some cases in which this type of loan is actually less costly than other alternatives. Below are a few circumstances in which taking out a payday loan is the better choice.

1. A Payday Loan Costs Less Than a Bounced Check

In a financial crunch, some people write checks even though they know they don’t have enough money in their accounts. Since many financial institutions are raising overdraft fees, it may be cheaper to choose a payday loan instead of incurring fees. Overdraft fees can quickly add up, particularly if you’ve written multiple checks. In this case, it may be wise to opt for the payday loan. Site like Maxlend offer lower fees so you aren’t paying a lot of extras.

2. A Payday Loan can be Cheaper Than Fines or Penalties

If you must pay a ticket or court costs, and you don’t have the funds you need, it might be cheaper to take out a payday loan. Failure to pay court costs and other fines can create more problems in the long run. If you can retain your driver’s license or avoid additional fines by paying the money you owe immediately, this is always a better option. If you know that you are going to need payday loans more than once, certain payday loan services will lower your interest rate if you have a history of paying on time, so that can save you some money on your loan and will be better than taking on fines or penalties.

3. A Payday Loan is Often Cheaper Than Losing Utility Services

It can be very expensive to re-establish utility service if it’s disconnected for non-payment. In this case, a payday loan is a viable solution. It’s something that should only happen once, though. If you find yourself turning to a payday loan on a regular basis, you’re not using this option wisely. If you constantly struggle to pay utility bills, it may be a good idea to reach out to a charitable organization or find another means of obtaining the necessary funds.

Payday loans aren’t cheap, but they can be the cheaper alternative from time to time. It’s important to avoid becoming trapped in a payday loan cycle in which you often use loans on a regular basis or take out a new loan to pay off previous loans. If you use a payday loan responsibly, it can make life easier, but if you don’t, the financial damage can be substantial.

Best Payday Loan Services

If you are in the market for a reliable payday loan service, there are a couple you can choose from. Here are our favorite payday loan services. Both reward you for paying on time with lower interest rates and higher loans, and both are trusted payday loan services.