Cash advance is a type of loan which will be approved on your credit card there is two types of cash advance one that is approved by credit card companies and second which approved by  Payday Loans companies. and There is very  little difference between both the loans when loan will be approved by credit card companies it will called cash advance where if the loan will be approved by payday loans companies then it’s called payday loans.

Cash advance loan will be offered  from the credit card companies. But the customer has been a valid credit card. However if a customer have secured card instead of credit card then cash advance will not be issued on secured card. So for cash advance you have a credit card if you have not a credit card then you have to first get credit car. It’s simple to get credit card you have to fill a particular application form then your salary or monthly income will be check and then you will get credit card and limit depends upon your monthly income.

When you have got a credit card then your lenders can set a cash advance limit. Generally the cash advance limit is same as full credit line you have. And for some cases cash advance limit is limits. However the interest on cash advance is higher than credit card generally it will be of 20% interest is of 20% yearly. 

And if you want cash advance than you have to request this from the companies who deal in this Service. You can contact them via phone or via website. Then if it’s approved then cash advance will be send to you in the form of check. This shows that you have to wait for some days for this. Where if you need cash advance quickly then some companies will give you pin and you can take the cash from ATM. 

Some people thinks that cash advance and payday loan is same but there is a difference between them that is for cash advance you have to wait for some days for your money where payday loan will be approve within at the same time when you submit request for this.

The another major difference is that in payday loan you don’t have to give any information  of your income where in check cashed you have to submit the proof of your income and also provide your bank information.

And The Main advantage of cash advance service is that it will approve high amount of cash in the form of loan where in payday you will only get a loan of maximum 500 $ and in some cases it’s up to 1000 $ where cash advance loan amount will be very high as compared to payday loans.

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