Tips for Taking Out Payday Loans With an SSI Debit Card
If you receive your Social Security benefits on an SSI debit card, you can get a payday loan. The SSI debit card makes it easy to get your SSI funds directly on a debit card that you then use anywhere. It’s an easy way to get your funds without having a savings or checking account.
Typically, a payday loan requires you to have a bank account. If you don’t and have the SSI Direct Express debit card, many companies offer SSI debit card payday loans. Here are tips for taking out a cash advance loan using your SSI debit card.
Borrow Only What You Need
SSI debit card loans do require borrowers to pay certain fees. Payday loans have higher fees because the lender takes more risk by offering an unsecured loan. Keep fees to a minimum by borrowing only what you need. While it may be tempting to ask for more, just in case something happens, stick to the amount you can repay with your SSI debit card.
Use a service like EasyAZloans.com to compare rates with several payday loan companies. By shopping around, you’ll find the lowest interest rates and repayment terms that work for you.
Keep Track of When Repayment is Due
Make sure you have the funds on your SSI debit card when you go to repay your payday loan. Many people lose track of time and miss the repayment or spend the money meant to repay the loan. This leads to additional charges. Note the date the payment is due and make sure money is in the account on the day the payment will be made.
Understand All Terms and Penalties
Before you sign any paperwork on a payday loan using an SSI debit card, look over all the paperwork. Lenders often give a truth-in-lending statement that details how much you’re borrowing and how much you must pay back. In addition to this, read the fine print for crucial information like late fees, what happens if you cannot pay the lender back, and other terms and conditions of the SSI debit card payday loan. If anything is unclear, ask for clarification before you sign the papers.
Apply for an SSI debit card payday loan today. By answering just a few questions, you’ll have the cash you need in a hurry. Instead of your bank account, you’ll use the debit card to repay the loan. It’s that easy.