Magnum Cash Advance Reviews

Magnum Cash Advance ReviewsWhen you are in need of a payday loan, it only makes sense to peruse your different options, and you might have found Magnum Cash Advance as a potential solution. There are few things that distinguish this from the competition, so it definitely merits some more attention so you can determine whether or not it’s for you.

The first thing they say that caught our attention is that you can borrow 30% of your monthly pay, and they break is up over multiple payments. That is definitely different than a typical payday loan, which gives some credence to their tagline of “this is better than a payday loan”, and why they use the term cash advance instead. A typical payday loan will only give you until your next payday to pay the entire loan off.

By breaking it up into multiple payments, and allowing you to borrow a potentially larger sum, they are making this more likely to help you through your financial situation rather than making it worse. A payday loan usually worsens the situation because there’s no way you can pay the loan off and make it until the next payday loan without taking out a loan again, subjecting yourself to even more fees and charges.

Find Real Magnum Cash Advance Reviews

We scoured the Web in search of actual reviews from Magnum Cash Advance customers in an attempt to see what people are really saying about it. Most of the time when you find people that are willing to share their opinion about an experience with a payday lender you’ll hear them griping about the fees and the limited time they had to pay it off. That’s not really the fault of the payday lender, so it is hard to sift through all of that and get people’s real thoughts and feelings.

With Magnum, however, since it’s not your typical payday lender you don’t see people complaining so much about the same things they do about payday loans. One thing that people seem to like is that they don’t charge you a flat rate, they charge you by how long you take the money out. With a payday loan if you take the money out for nine days or 14 days you’ll still end up paying the same rate, because the fees are fixed. With Magnum you are charged based on how long you take the money out, so you don’t get that feeling of being taken advantage of, or at least that feeling is not as strong.

No Rollovers
Another important difference is that you won’t find rollover charges here. A rollover occurs when you come in to a lender to pay the interest and fees, but roll the loan over so that you don’t have to bring the principal balance back. It’s really just a way to keep collecting fees on the same money you originally took out, which can lead to some staggering APRs. Since you get multiple payments with Magnum you don’t have to worry about having to rollover your loan, and you aren’t forced to come in and pay the loan off and then reloan it right after.

More Good Things
There are a few other things that we noticed that would tip the scales towards using Magnum over a different lender. They have a secure site, so you don’t have to worry about your information being compromised. Plus they are direct lenders so your information is not being farmed out to a bunch of different lenders, and you will not be inundated with spam e-mail. They are also socially active, and you can communicate with them through Facebook, or simply call them to talk to a rep.

Magnum Cash Advance is the sort of cash advance lender that will be around in the future. They understand that people are fed up with the typical payday loan process and they are trying earnestly to bring a different type of product to the market. Payday loan reform will be slow and steady, but this is the sort of direction it is going to end up in, so why not take advantage of a company that is already doing it correctly right now.

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