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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. This includes personal loans, mortgages, car loans, and business loans. These loans are often marketed as a convenient alternative to traditional loans, but they can be risky and come with high fees and interest rates.

Learn more about managing your credit and improving your credit score. Additionally, credit card cash advances are typically more flexible than payday loans. Payday loans can have annual percentage rates (APRs) of up to 400% or higher, while the credit APR on a credit card cash advance is typically around 25% or higher.