Americans Turning to Cash Advances as Economic Recovery Remains Slow

Jan. 25, 2011 - PRLog -- Previously, in turbulent economic times, consumers have relied on financial tools such as traditional personal loans and credit cards to see them through. However, with the most recent economic downturn, these once popular tools are becoming more obsolete. Credit cards are increasingly difficult to qualify for and cost more than ever with the addition of fees and other penalties that came as consequences of credit card reform.

Even for consumers who have credit cards, the limits of those cards may be maxed, so they are of no help in trying times. Traditional credit union and bank personal loans are also harder than ever to get because of the credit crunch.

For these and other reasons, the Website of Personal Cash Advance has seen an increase in traffic over the last two months. Moreover, many of the visitors are new to the site and cash advances in general. The payday advance is reaching a wider audience than ever before.

“The growth Personal Cash Advance has experienced recently is partially a result of the recession, but it also indicates a growing acceptance of the cash advance as a practical, mainstream alternative to credit cards, personal loans, title loans, and so on. Thanks to sites like ours, getting a cash loan is easier than ever—far easier than applying for a credit card or a bank loan,” said Neil Cutting, spokesperson for http://www.personalcashadvance.com.

The burgeoning popularity of payday loans probably also has something to do with how convenient they are for small, emergency expenses in the short run, according to Cutting.

“Food prices are high, gas prices continue to escalate, and wages simply are not keeping up. So what you see is an increasing number of Americans coming up short when they need to buy groceries, fill up the car with gas, or even pay for a doctor’s visit. These types of expenses are exactly what cash advances are intended to help cover when they spring up,” Cutting said.

Cash advances typically have terms of about two weeks and come directly out of the borrower’s paycheck, which makes the borrowing experience far less of a hassle for the consumer.

“When times are tough, the last thing you need is to jump through hoops to get a little extra cash. Personal Cash Advance makes the process as stress-free as possible,” Cutting commented.

For more information, please visit http://www.personalcashadvance.com

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Personal Cash Advance is a reputable online resource for short-term financial solutions. For more information, please contact 1-800-920-7430.