Money USA Introduces New Educational Feature

Los Angeles, CA -- (SBWIRE) -- 10/14/2012 -- Money USA has just published on its website a free informational article that explains the standard interest rates and fees that are associated with cash advances. With the new article, entitled “Rates and Fees,” consumers can learn all they need to know about the costs involved in taking out one of these fast, short-term loans. The piece discusses the various factors that determine how cash advance lenders calculate loan charges. It also lets consumers know how to find out exactly what they will paying when they agree to accept a loan through one of these lenders.

“People who sign up for a cash loan shouldn’t have to worry about hidden costs,” says Money USA spokesperson Amy Gonzalez. “We want to set consumers’ minds at ease by letting them know how to find the information on rates and fees provided by their lender. We also want them to know how these numbers are determined, since different lenders charge varying amounts. Our newly posted resources gives consumers the tools and education they need to make smart choices regarding cash advances and prevent themselves from getting in over their heads.”

When consumers are looking for fast cash, finding a lender can be difficult. Since banks typically have a lengthy application process and policies against approving people with bad credit, many consumers turn to cash advance lenders, such as the ones who are affiliated with Money USA. These lenders are willing to approve consumers who have credit issues, and they do not require prospective borrowers to submit their credit score. Because they are willing to take a chance on individuals who others might consider risky, the rates and fees that cash advance lenders charge are usually somewhat higher than those charged by traditional lenders such as banks.

Money USA assists consumers in finding lenders who offer rates and fees that are competitive. The company does not charge any application fees when consumers use its website to pursue a loan. Money USA itself is not a lender; instead, the company connects people to dependable members of its nationwide lender network. To get the process started, all consumers have to do is fill out a short online application form. Once they have been preapproved for a loan, Money USA directs them to a suitable lender’s website.

Cash advance lenders are required by law to fully disclose all rates and fees connected to the loans they offer. Consumers have the chance to read through this information before they provide an electronic signature to accept a loan. As potential borrowers are not under any obligation to accept a loan that they have been approved for, if they find the terms of a particular loan unsatisfactory, they can choose to reject the offer and instead look around for another lender offering a better deal.