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This can make cash advances on credit cards a very expensive way to borrow money. This can be especially helpful if you are facing financial difficulties or are unable to make regular monthly payments. For example, many online lenders do not require a minimum credit score or collateral.

It's important to note that payday loans can be very expensive and should only be used as a last resort. Use credit wisely: If you do have credit, use it responsibly. Overall, personal loans can be a useful financial tool for individuals who need to borrow money for a specific purpose.

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