How To Understand Cash Call Loans

Depositing cash

Not a lot of people are born fortunate with a lot of cash. Some live without it while others strive to get it. However, what is becoming the most popular choice is the cash call. It is because it is one of the easiest ways to find the most needed money.

There are a lot of companies offering instant cash call loans to people. Etrade and various other financial companies offer these kind of loans. These companies like Etrade can lend a borrower $20,000 at the most.

Advantages of Cash Call Loan

The instant cash call loans are actually seen advantageous to people who are not yet established in terms of their credit history and ratings. This money call option can be approved with no questions as to where the borrower will be using the money.

Another good thing about this loan option is that it can be approved overnight. At any time of the day or night, you can file an application and after a few minutes you will receive an e-mail confirmation. More than this, the actual processing of the loans can cost less than any other types in the cash competitions. First off, the application form is free and there is no application fee as well. Though it entails online processing, it is definitely secure.

Also, if by any chance you are not comfortable dealing with the online processing, you can get this instant cash through phones. You will be assisted by a representative that will help you out in completing the application. As per reviews, this is the most popular way of dealing with cash call companies.

Its Disadvantages

Though cash call Web sites offer positive reviews of their service from the customers, there are still a lot of people who see its dark side. The accounting of the interest rates of this loan becomes the major culprit of this so-called instant cash. As a cash strategy of business owners who lend money in this way, the list of interest rates are not fixed. And what's worse is that it can be as much as 59 percent taking into consideration the income and credit rating of the borrower. Most professionals even tag this kind of business as "loan sharking." Taking for example a loan of $5,000, the interest accounting can either be 47 percent or 59 percent. To see it clearly, it is 59 percent versus the 13 percent interest rates of credit cards now.

And actually, the worst of this fact is that these companies do not even list these skyrocketing interest rates in their advertisements. Therefore, a lot of customers are misled.

Getting a cash call might be the only option for you to have the needed cash now. However, you still need to think twice. Yes, though this is the easiest way to find a remedy to your financial problems, you might encounter bigger problems when you are in the paying process. So since you know both sides of the story, it is up to you to make a decision.


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