What do credit cards and payday loan companies in Monroe LA have in common? High interest rates!? Yes, for one thing, sure. But why would more than three fourth of the population in almost all developed countries have credit card crunch as part of their life’s misery? Don’t they know the interest rates are high and they might end up paying more than they imagined paying? But the situation always turns out mumbo jumbo where the bills play different tunes in the end of the month. Often melancholy.
True to every word above, credit cards turn out monstrous than payday loans, as they tend to flex their muscles horizontally and vertically almost every month while polishing their ribbon wrapped hidden charges. Payday loans turn out to be saviors in this case, as they only charge the initial APR which is typically high, as this is only way payday loan companies makes profit and most payday loans clearly define their customers in advance, about the amount to be paid every month, also notifying the interest rates that customers might have to pay in case of delayed payments. This way payday loans are more like a known devil, unlike credit cards, who are demons in camouflage.
Also considering the advantage of sheer transparency that payday loans come with, most customers find it easier to go for payday loans which chip in handy during emergency situations and not as credit cards that seduce minds to buy luxury stuff like blingy shoes or a flashy jacket that haunted for many nights. So, the trick with payday loans is to stick with the original plan that our conscience counsel after relief comes in the form of payday loan the next morning. Finish payments ASAP.