Tuesday, 25 February 2014

Loans For Those With Bad Credit History

Credit Card Cash Advance

When cash is needed fast, one of the quickest ways to raise instant cash would be to go and visit your closest ATM and swipe your card and withdraw your funds against your credit card limits or pop into your bank and ask for a credit card advance.

If you are considering making an unusual transaction, check with your credit card provider to see how it will be treated. Credit card advances can work out to be one of the most expensive things you could do. Only withdraw cash from your card as a last resort. There are other payments that you can make on a credit card that will also be considered a cash advance they are:

>Making transfers such as transferring money from your credit card into your current account in order to        make sure you can pay a bill.
>Buying travellers cheques
>Buying foreign money
>Betting and Gambling transactions

Here are a few reasons why credit card advances can be expensive:

>  You will attract more charges on top of its own higher interest rates when withdrawing cash from your credit card.
> When making a cash withdrawl from your credit card you will not receive purchase protection, where if you are paying directly using your card you will benefit from enhanced protection if the goods don't meet your standards or aren't delivered.
> If you are going abroad the local bank that operates the cash machine may charge you for using their cash machine.


Some people would say this would be the best way to get quick cash as you are not obliged to pay the loan back. It is up to each individual if you want to retrieve your possession or consider it sold.

If you did want to buy back your possession from the pawnbrokers do bear in mind that you will probably be paying back more than it was originally pawned for. Pawnbrokers have also started accepting designer handbags and shoe's. You could trade pretty much anything you wanted to, which had some value to it. From fine wines and art to rare books and antiques. Here is an interesting Article on James Constantinou who talks about a range of unusual things are being offered by customers at his local pawnbrokers. I have also added some pawnbroking facts that I found interesting:

> The pawnbroking industry has grown by 8% over the past 12 months.
> There are around 2,144 pawnbrokers operating in the UK estimated at a staggering £865m.
> You will never be bothered by debt collectors.
> Pawnbroking will never effect your credit rating as no credit checks are required.
> No need for a bank signer or co-signer.
> More than half of the pawnbrokers say that the recession has increased pawn loans, but significantly hurt sales.
> Less than 0.2% pawn shop transactions involve property.


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