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The fees and interest rates associated with these loans can be very high, and you may end up paying much more than you borrowed. This can be especially beneficial for those who have irregular income or who are not sure how much money they will need in the bad credit loans edgewater florida fl bad credit bad credit loans edgewater fl future.
Banks may also have more stringent eligibility requirements than other types of lenders, which could make it harder for some borrowers to qualify for a loan. However, cash advances on credit cards also come with some significant drawbacks.
An unsecured revolving credit line, on the bad other hand, is not secured by collateral. Payday loans can have annual percentage rates (APRs) of up to 400% or higher, while the bad APR on a credit card cash advance is typically around 25% or higher.