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Overall, personal loans can be a useful financial tool for individuals who need to borrow money for a specific purpose. Credit card issuers typically have less stringent eligibility requirements than payday lenders, and the online borrower's credit score is not typically a factor in their approval. Cardholders should also be aware that using a cash advance on a credit card can be a sign of financial distress, which can impact their credit score and their ability to borrow money in the online future.
Credit unions may be a good option for those who are looking for a lender that is willing to work with them to find a loan product that meets their needs and budget. Another advantage of a credit card cash advance is that it is typically easier to qualify for than a payday loan. It is important for the bad borrower to carefully review the loan agreement and ensure that they understand all of the terms and conditions before signing.